Grid Metals Corp. is pleased to provide an update on its Donner Lithium and MM Copper/Nickel Projects, situated in southeastern Manitoba. The Company has achieved significant progress with permitting at Donner and is preparing to resume drilling at the MM Copper Nickel Project this fall. The upcoming drill campaign will target a largely unexplored ~4 km long outcropping trend of Cu-rich magmatic sulfide mineralization, which includes the historical New Manitoba deposit acquired by Grid in 2023. Both MM and Donner Projects are located in the northern part of the Bird River Greenstone Belt, approximately 150 km northeast of Winnipeg, Manitoba.

Donner Lithium Property Highlights

• Grid Metals Corp. has received notification from the Mines Branch of Manitoba that its Advanced Exploration Permit (AEP) for the Donner Lithium Project has been approved, contingent upon Grid posting a reclamation bond. This permit application was developed in collaboration with and supported by the Sagkeeng First Nation, whose ancestral territory encompasses the Donner Project. Grid has committed to working with the Sagkeeng First Nation on environmental mitigation measures and economic benefits associated with the permit activities.

• Due to a decline in lithium prices in 2024, the Company does not plan to immediately proceed with the bulk sampling specified in the AEP. Grid will provide updates on the timing of the bulk sample and the finalization of the AEP for Donner, which will be revisited when lithium prices rise.

• Grid has also adjusted its near-term financial commitments for leasing the True North Mill in Bissett, which is used for processing lithium spodumene material from Donner. The Company recently made a C$100,000 payment, with the next payment of C$200,000 due at the end of 2024.

• Grid remains focused on exploring and developing critical mineral resources in southeastern Manitoba, particularly within the Bird River Greenstone Belt. The Company holds mineral rights to the most advanced lithium project in the region (Donner) and controls over 50 km of Cu- and Ni-rich exploration targets, including four separate 43-101 compliant Cu-Ni-PGE-Co resources: the Makwa, Mayville, Ore Fault, and Page deposits.

On May 6, 2024, Grid Metals Corp. announced the results of an updated mineral resource estimate for the Mayville and Makwa Deposits, prepared in accordance with National Instrument 43-101 standards. To expand the known resources and explore new targets within the belt, the Company plans to undertake a 5,000-meter drilling program focused on the Mayville arm of the Bird River Belt. This program will target the historic New Manitoba Deposit area and explore untested outcropping mineralization across a cumulative strike length of approximately 4 km. Further details about the new drill program will be announced soon.