Grid Metals Corp. announced drill results from its January-March 2024 drill program at the Donner Lake Lithium Project ("Donner Lake") in southeastern Manitoba, Canada. Drilling was completed at both: (1) the Northwest Dyke ("NW") Dyke for the purposes of upgrading the near surface resource; and (2) at depth below the Main Dyke resource to test the potential for adding to the existing underground resources.

The results from both dykes were in line with expectations and support the ongoing development timeline for Donner Lake. The Company is continuing study and permitting activities to position Donner Lake for higher lithium prices in the future. Drill Highlights: The two drill holes at the Main Dyke intersected the spodumene-bearing Main Dyke approximately 125 meters beneath the previously deepest drill holes.

Both holes were drilled to test the potential for extending the existing underground resources at depth. Based on these new results and the consistent nature of the Main Dyke over its 1 km strike length, Grid Metals plans to proceed with a fully-funded summer drill program comprising 10 additional resource extension drill holes. All of the 12 infill drill holes at the Northwest Dyke intersected spodumene-bearing pegmatite that returned lithium grades and intersection lengths in line with previous resource delineation drill holes completed in 2022 and 2023.

Overall, the Company expects this drilling to enable an upgrade to the resource category at the Northwest Dyke. The Company has now completed significant work towards a NI 43-101 compliant Preliminary Economic Assessment ("PEA"). Major components of the study have been substantially completed including a mine plan, capital and operating cost estimation and a number of optimization trade-off studies.

The current results relate to 14 diamond drill holes completed at the Main and Northwest dykes during the months of January, February and March 2024. Both holes intersected the Main Dyke at the expected depth and returned true widths and weighted average Li2O grades consistent with previously reported resource drill hole intersections. The new results suggest that there are very good prospects for adding, with appropriate deep drilling, new underground resources below the current inferred resources.

The 9 holes reported here returned weighted average lithium grades over true widths in line with the results reported in the 2023 resource estimate for the Property. The Company news release dated July 18, 2023 and associated Technical Report filed on SEDAR on September 6, 2023). Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or other metals.