New High-Grade Lithium Intersections at Donner Lake Lithium Project; Field Program Underway

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Grid Metals Corp. (the “Company“) (TSXV:GRDM)(OTCQB:MSMGF) is pleased to report additional drilling results from the Phase 1 drill program at its Donner Lake lithium property (the “Property“) in southeastern Manitoba. In addition, the Company has started field work at the Property that will initially focus on sampling of several previously mapped pegmatite dykes. The project is located in the Winnipeg River pegmatite field, which hosts the world-class Tanco pegmatite and the associated Tanco lithium-cesium-tantalum mine and concentrator. The project is a 75%/25% joint venture between Grid Metals Corp and Lithium Royalty Corp., a leading player in global lithium finance.

Drilling Highlights:

  • New drill intersections of the Northwest Dyke include the following length-weighted average grades:
    • 8.2 metres averaging 1.53% Li2O in GDL22-07 (from 103.5 metres) including 5.5 metres averaging 1.96% Li2O
    • 14.6 metres averaging 1.25% Li2O in GDL22-11 (from 141.7 metres) including 5.8 metres averaging 1.74% Li2O
    • 3.26 metres averaging 1.88% Li2O in GDL22-14 (from 178.8 metres)
  • Anomalous cesium and tantalum values were also encountered in the new holes including maximum individual sample grades of 2850 ppm Cs2O (GDL22-11) and 509 ppm Ta2O5 (GDL22-10).

The Northwest Dyke has been traced by drilling for ~600 metres along strike and to a vertical depth of ~250 metres. It is the second drill-defined LCT type pegmatite with significant strike length on the Donner Lake property. Similar lithium grades were previously reported for the Company’s 2018 drill holes targeting the Main Dyke, which is located ~1.5 km to the east of the Northwest Dyke. Note that the Northwest Dyke intersection lengths reported above do not represent the true thickness of the dyke, which is estimated to typically range from 4 to 8 metres, representing 50-70% of the reported intersection lengths. Complete analytical results for hoes GDL22-07, -10, -11 and -14, together with drill hole specifications for these and previously reported holes, are provided in the Appendices accompanying this release. Hole locations are shown on the accompanying plan view map and longitudinal section. Core photos from the newly reported holes are included below.

Field Program Underway

The Company has mobilized geological crews to the property to sample the known pegmatite dykes on the property. Known pegmatite dykes include the West Dyke swarm, the South Dykes and several other pegmatites on the east part of the property that were mapped by Grid in 2012. A map showing the location of the target dykes is attached. Follow up work will include a lithogeochemical survey to vector to unexposed LCT type pegmatites.

The property is viewed by Grid as very prospective for other lithium bearing LCT type pegmatite dykes. The focus is on identifying new drill targets to complement the Northwest and Main Dykes which have been the target of drilling to date.

Above: Map showing location of mapped pegmatites on Grid’s Mayville – Donner Lake claim block.

Mr. Carey Galeschuk, Grid’s Vice President, Lithium Exploration, stated, “We continue to see consistently good widths of high-grade lithium from the recent Northwest Dyke drilling. In addition to our drilling we look to rapidly progress the Donner Lake discovery process with the identification of new drill targets in the field. With the combination of results to date, geological prospectivity and access to infrastructure we view the project as having great potential.”

Quality Assurance and Quality Control

Grid Metals applies best practice quality assurance and quality control (“QAQC”) protocols on all of its exploration programs. For the Donner Lake drilling program, core was logged and sampled at the Company’s core facility located on the Makwa Property. Generally, 1.0 metre sample lengths were used. Samples were bagged and tagged and then transported by secure carrier to the Actlabs (Thunder Bay) laboratory for sample preparation and analysis for lithium, cesium, tantalum and selected major and trace element abundances using a sodium peroxide fusion total digestion method followed by ICP-OES and ICP-MS analysis. The Company is using two lithium + rare metal certified reference materials (“CRMs”) and two analytical blanks for the Donner Lake program to monitor analytical accuracy and check for cross contamination between samples.

Dave Peck, P.Geo., has reviewed the contents of this press release and is the qualified person for purposes of National Instrument 43-101.

About the Donner Lake Lithium Property

  • The Property is owned 75% by Grid Metals Corp. and 25% by Lithium Royalty Corp. (LRC), which is funding 25% of the current exploration program. LRC holds an overriding 2% royalty on the property.
  • The Property was acquired by Grid from Tantalum Mining Corporation of Canada Limited (Tanco) which has the first right to acquire products produced from the property at commercial terms and holds a 2% royalty on certain claims.
  • Sinomine Canada is currently operating a lithium spodumene circuit at its Tanco Mine facility, located approximately 35 km to the southwest of the Donner Lake Property.
  • Donner Lake is only 180 km from the provincial capital of Winnipeg and accessible by all season roads and logging trails and there is nearby access to Canada’s major east-west railway line.
  • Grid Metals has an exploration agreement in place with the Sagkeeng First Nation, whose Traditional Lands include the Donner Lake and Mayville properties.
  • The Property has nearby access low-cost renewable power from Manitoba’s extensive hydro-electric grid.
  • There are multiple LCT-type pegmatite dykes on the Property including the Main Dyke that, in 2018, was drill tested by Grid over a ~1 km strike length. The dykes are located along a ~9 km long prospective geological contact between the Bird River greenstone belt and the Makwa Lake batholith and occupy obvious structural trends.
  • The Main Dyke and Northwest Dyke together supported a non-compliant historical resource estimate of 3.8 million tons at a grade of 1.28% Li2O (Manitoba Mines Branch Assessment file 91769A). This resource estimate cannot be independently verified by the Company. The Company is looking to complete resume drilling later this year to establish a maiden NI 43-101 lithium resource and continue exploration for other LCT-type pegmatites on the Property.
  • The Property is significantly underexplored with a large portion of the prospective geology having seen no prior lithium exploration.

About Grid Metals Corp.

Grid Metals Corp. maintains an attractive portfolio of exploration and development stage properties focused on battery metals (nickel, lithium, copper, cobalt, platinum group metals cobalt) and emission reduction technologies (palladium, platinum, rhodium) in the Provinces of Manitoba and Ontario, Canada. The Company is currently focused on advancing both its Donner Lake lithium and its PEA stage Makwa-Mayville Cu-Ni-PGM-Co assets in southeastern Manitoba.

To find out more about Grid Metals Corp., please visit www.gridmetalscorp.com.

On Behalf of the Board of Grid Metals Corp.
Robin Dunbar – President, CEO & Director
Telephone: 647 201 6844 Email: rd@gridmetalscorp.com
David Black – Investor Relations Email: info@gridmetalscorp.com 416 955-4773

Above: 2022 drill hole locations from the Northwest Dyke exploration program at the Donner Lake Lithium Property showing the current surface projection of the main pegmatite body (thick pink line) and the Li2O grades obtained for previously and newly reported (larger font) holes.

Above: Longitudinal section, looking west, showing relative 3D position of the February-April 2022 drill hole pierce points into the Northwest Dyke, Donner Lake Lithium Property.

Above: White spodumene blades in GDL-22-07 at 106.6 meters downhole.

Above: Spodumene-quartz intergrowths (SQUI) from GDL-22-14 at 182.5 meters downhole.

Appendix 1: Analytical Results, Drill Hole GDL22-07, Northwest Pegmatite Dyke, Donner Lake Lithium Property, Southeastern Manitoba.

Sample# From (m) To (m) Length (m) Li2O (%) Ta2O5 (ppm) Cs2O (ppm) Rb2O (%)
AM753408 103.45 104.27 0.82 1.03 126 193 0.22
AM753409 104.27 104.37 0.10 0.69 0.9 356 0.17
AM753411 104.37 104.60 0.23 0.67 133 75.3 0.10
AM753412 104.60 105.52 0.92 0.76 125 194 0.31
AM753413 105.52 106.50 0.98 2.14 54.0 118 0.22
AM753415 106.50 107.50 1.00 1.52 60.9 159 0.28
AM753416 107.50 108.50 1.00 1.68 67.1 159 0.26
AM753418 108.50 109.50 1.00 2.11 33.2 82.7 0.17
AM753419 109.50 110.50 1.00 2.12 43.3 104 0.26
AM753421 110.50 110.98 0.48 2.39 42.5 92.2 0.16
AM753422 110.98 111.65 0.67 0.16 61.3 164 0.34
Interval Averages
103.5 111.7 8.2 1.53 69.2 142 0.24
inc. 105.5 111.0 5.5 1.96 50.9 122 0.23

Appendix 2: Analytical Results, Drill Hole GDL22-10, Northwest Pegmatite Dyke, Donner Lake Lithium Property, Southeastern Manitoba. Note in this hole there were multiple narrow intercepts of mineralogically distinctive pegmatite dykes separated by inclusions of basalt. A narrow intersection of the Northwest Dyke was encountered between 155.4m and 156.65m.

Sample# From (m) To (m) Length (m) Li2O (%) Ta2O5 (ppm) Cs2O (ppm) Rb2O (%)
856486 148.30 148.66 0.36 0.04 370 97.5 0.13
856487 148.66 148.68 0.02 0.20 279 366 0.28
856488 148.68 149.95 1.27 0.02 206 97.5 0.14
856491 153.38 153.48 0.10 0.04 509 92.2 0.02
856494 154.56 154.75 0.19 0.62 178 201 0.28
856497 155.40 156.00 0.60 1.35 114 141 0.22
856498 156.00 156.65 0.65 1.28 105 191 0.29
856500 157.15 157.35 0.20 0.12 157 368 0.14
AM753309 173.90 174.07 0.17 0.06 118 94.4 0.10
AM753311 175.12 175.34 0.22 0.03 70.8 44.5 0.02
AM753318 179.15 179.52 0.37 0.02 164 90.1 0.07
AM753324 184.90 185.30 0.40 0.47 75.8 148 0.24
AM753325 185.30 185.60 0.30 0.28 88.0 157 0.26
AM753327 186.67 187.10 0.43 0.03 76.8 125 0.23
AM753332 201.35 201.90 0.55 0.04 61.7 476 0.43
Interval Averages

Granitic Dyke

148.30 149.95 1.65 0.03 243 101 0.14

NW Dyke

155.40 156.65 1.25 1.31 109 167 0.26

Appendix 3: Analytical Results, Drill Hole GDL22-11, Northwest Pegmatite Dyke, Donner Lake Lithium Property, Southeastern Manitoba.

Sample# From (m) To (m) Length (m) Li2O (%) Ta205 (ppm) Cs20 (ppm) Rb2O (%)
AM752704 141.70 142.42 0.72 1.29 215 264 0.40
AM752706 142.42 142.80 0.38 0.13 1.70 109 0.05
AM752707 142.80 143.10 0.30 1.39 203 290 0.28
AM752708 143.10 143.25 0.15 0.81 75.0 2851 0.55
AM752709 143.25 144.00 0.75 1.80 230 480 0.40
AM752711 144.00 144.40 0.40 0.24 222 740 0.43
AM752712 144.40 145.00 0.60 1.62 233 392 0.37
AM752713 145.00 145.65 0.65 1.63 177 390 0.40
AM752714 145.65 146.25 0.60 0.29 3.85 342 0.11
AM752716 146.25 147.05 0.80 1.41 173 200 0.25
AM752717 147.05 147.65 0.60 0.56 155 335 0.27
AM752718 147.65 147.95 0.30 1.44 148 251 0.28
AM752719 147.95 148.80 0.85 0.22 89.6 145 0.23
AM752721 148.80 149.80 1.00 1.91 48.8 110 0.21
AM752722 149.80 150.85 1.05 1.35 79.9 142 0.28
AM752723 150.85 151.85 1.00 1.67 63.5 155 0.28
AM752724 151.85 152.85 1.00 1.71 74.2 174 0.29
AM752726 152.85 153.85 1.00 1.81 50.9 135 0.32
AM752727 153.85 154.65 0.80 2.10 51.0 119 0.24
AM752728 154.65 155.18 0.53 0.85 40.7 158 0.39
AM752729 155.18 156.31 1.13 0.29 84.3 144 0.31
Interval Averages
141.70 156.31 14.61 1.25 108 255 0.29
inc. 142.80 145.65 2.85 1.41 206 582 0.39
and 146.25 156.31 10.06 1.30 82.6 161 0.28
with 148.80 154.65 5.85 1.74 61.9 140 0.27

Appendix 4: Analytical Results, Drill Hole GDL22-14, Northwest Pegmatite Dyke, Donner Lake Lithium Property, Southeastern Manitoba.

Sample# From (m) To (m) Length (m) Li2O (%) Ta (ppm) Cs (ppm) Rb2O (%)
AM752876 178.41 178.86 0.45 0.15 114 270 0.40
AM752877 178.86 179.86 1.00 0.21 76.5 241 0.26
AM752878 179.86 180.86 1.00 2.28 66.3 128 0.18
AM752879 180.86 181.90 1.04 1.87 51.4 119 0.21
AM752881 181.90 182.64 0.74 1.62 48.5 184 0.42
AM752883 182.64 183.12 0.48 1.47 43.3 116 0.19
AM752885 183.12 183.22 0.10 0.04 50.1 70.0 0.06
Interval Averages
178.86 183.22 4.36 1.46 59.1 159 0.25
inc. 179.86 183.12 3.26 1.88 54.1 136 0.25

Appendix 5: Specifications for the drill holes reported to date from the winter 2022 Northwest Pegmatite Dyke drill program, Donner Lake Lithium Property, Southeastern Manitoba. Easting and northing coordinates are based on a NAD83 UTM Zone 15 projection. Depth values represent end of hole depths. Length values are core intervals for the main Northwest Dyke pegmatite. From values are the upper contact downhole depth of the Northwest Dyke. The true thickness of the dyke is estimated to range from 40 to 70% of the reported core lengths.

Hole ID Easting

(m)

Northing (m) Elevation (m) Azimuth Dip Depth (m) Length (m) From (m)
GDL-22-01 315954 5610632 290 135° -60° 131 15.8 86.0
GDL-22-02 315954 5610632 290 135° -45° 215 9.4 55.9
GDL-22-03 315960 5610735 299 135° -45° 179 5.5 160.4
GDL-22-04 315960 5610735 299 135° -60° 248 10.3 234.1
GDL-22-07 315881 5610581 288 135° -45° 104 8.1 103.6
GDL-22-08 315879 5610585 288 135° -60° 260 15.6 163.1
GDL-22-09 315842 5610520 290 135° -45° 143 9.5 104.9
GDL-22-10 315754 5610459 297 135° -45° 224 1.3 155.4
GDL-22-11 315842 5610520 290 135° -60° 185 14.6 141.7
GDL-22-12 315754 5610459 297 100° -60° 250 10.1 218.8
GDL-22-13 316175 5610670 295 315° -45° 179 5.4 138.4
GDL-22-14 316175 5610670 295 315° -60° 203 4.4 178.9

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