Grid Metals drills 1.13% Li2O over 10.7 metres at Donner Lake, Manitoba

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Grid Metals Corp. [GRDM-TSXV; MSMGF-OTCQB] reported final drill results from the completion of the Northwest dike drill program at the Donner Lake lithium property in Manitoba, Canada. The company has now received all assays from the winter drilling program which will be incorporated into the coming maiden resource estimate expected before the end of Q2 2023. SGS Canada has been retained by the company to complete the estimate which will include both the Main and Northwest dikes.

Highlights: Visible spodumene mineralization noted in all drill holes in the core area of the dike. The Northwest dike remains open at depth and along strike to the south (current strike length of approximately 715 metres).

Apparent widths of up to 10 meters identified at 185 meters below surface. The Northwest dike is exposed at surface and recent resource drilling has projected the lithium bearing pegmatite to at least 300 metres below surface.

Drilling highlights include GDL 23-68 that returned 5.9 metres of 1.59% Li2O starting at 14.5 metres. GLD 23-74 returned 6.9 metres of 1.56% Li2O starting at 59.1 metres. GDL 23-78 returned 10.7 metres of 1.13% Li2O starting at 185.2 metres. GDL 23-81 returned 6.7 metres of 1.60% Li2O starting at 54.2 metres. GDL 23-84 returned 5.0 metres of 1.37% Li2O starting at 262.7 metres.

Robin Dunbar, CEO, stated, “We are pleased to report the final assays from the recently completed Northwest dike drill program. The results highlight strong continuity of mineralization across the core area of the dike with the pegmatite remaining open at depth and to the south along strike. We look forward to releasing a maiden resource estimate at Donner Lake before the end of this quarter that will include the 2023 resource drilling at both the Main and Northwest dikes.”

Following on drilling completed in 2022, the 2023 NW dike resource drilling program included 19 holes for a total of 4,379 metres. The company has rapidly progressed the Donner Lake Lithium Project to the resource estimation stage in just over a year since the start of drilling in February 2022. In total, 66 resource drill holes were completed in 2023 for a total of 17,696 meters at the Main dike and Northwest dike.

True width of drill intercepts are between 50 and 80% of apparent width.

Project Plans: SGS Canada Inc. has been retained by the company to complete a NI 43-101 compliant resource estimate. The company has completed an initial metallurgical testwork program at XPS Metallurgical Laboratories with results expected shortly.

Grid Metals plans to formally submit an Advanced Exploration Permit to the Manitoba government which would allow for the completion of a bulk sample at Donner Lake. The Company has also sent test sample work to the Tanco Mine to ensure there is metallurgical congruency for the pending bulk sample.

The company has a pre-production MOU with Tantalum Mining Corporation of Canada. Discussions with Tanco are ongoing to enable toll mining of Donner Lake ore at the Tanco Mine site – one of two producing lithium mines in Canada.

The company has new geochemical and geophysical survey data to define several new exploration targets on the Property that will be validated and explored this upcoming field season prior to initial drill testing.

Grid Metals is focused on both lithium and Ni-Cu-PGM in the Bird River area approximately 150 km northeast of Winnipeg Manitoba. The Donner Lake Lithium Property is a 75%-owned property subject to a joint venture agreement. In addition to activity at Donner Lake the company has the Falcon West Lithium Property located southeast of Winnipeg and a PEA stage Ni-Cu-PGM-Co project (Makwa-Mayville) undergoing exploration and development activity.

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