Grid Metals Announces Grassroots Nickel Sulfide Surface Discovery at Makwa

TORONTO, ON / ACCESS Newswire / August 11, 2025 / Grid Metals Corp. (TSXV:GRDM) (OTCQB:MSMGF) ("Grid" or the "Company") is pleased to provide an update at its Makwa Ni-Cu-PGE project in southeastern Manitoba where an Option and Joint Venture Agreement (the "Agreement") with Teck Resources Limited ("Teck") was announced in December 2024. The target model is a footwall-hosted Ni-Cu-PGE deposit similar to the Eagle's Nest deposit¹ located in Ontario's 'Ring of Fire' mineral district. Initial exploration completed under the new option and joint venture agreement has led to the discovery of semi-massive nickel sulfide mineralization at surface (up to 1.1% nickel in grab samples, see Table 1) associated with a recently identified geophysical anomaly ("Pavo" or the "Pavo Anomaly") in a previously unexplored part of the Makwa property. The Pavo Anomaly is now a priority drill target with drilling anticipated to commence in the Fall of 2025.

Dr. Dave Peck, the Company's V.P. Exploration, stated, "The new discovery of nickel-rich magmatic massive sulfide mineralization at Pavo is significant given its location in an interpreted feeder structure to the Bird River Sill - host to most of the known Ni-Cu-PGE sulfide mineralization in the Bird River Belt. Importantly, the Pavo conductor trend is contained within a large magnetic anomaly that suggests a large volume of prospective ultramafic rocks are present in the broader target area. Our view, shared by Federal and Provincial Government geoscientists², is that the Bird River Belt is strongly analogous to the Ring of Fire District in northwestern Ontario where a significant Ni-Cu-PGE deposit at Eagle's Nest was discovered in 2007. The potential to participate with Teck in the discovery of an Eagle's Nest-type sulfide deposit is an exciting opportunity for Grid."

The Pavo Anomaly: A new grassroots nickel sulfide surface discovery in the footwall of the Bird River Sill

The Pavo Anomaly is a shallow electromagnetic ("EM") conductor trend that has a strike length of approximately 600m in east-west extent that was outlined from an airborne geophysical survey completed in late 2024. The Company completed reconnaissance geology in the area and one day of field prospecting at the Pavo Anomaly (Blaze Showing) before forest fires restricted access to the area. Nonetheless, the initial day of prospecting led to the discovery of semi-massive sulfide mineralization in soil-covered bedrock located directly on the eastern part of the Pavo Anomaly. Initial grab samples taken from this new showing returned peak nickel grades of up to 1.1% hosted by semi-massive magmatic sulfide mineralization (see Table 1).

¹ The Eagle's Nest deposit in the McFauld's Lake greenstone belt of northwestern Ontario is an established, high-grade magmatic nickel sulfide resource that is owned by Wyloo Canada. See the Wyloo website for more information about the Eagle's Nest deposit: https://wyloo.com/wylooeaglesnest/

² Geological Survey of Canada Open File Report 8722, 2020.

Table 1. Select assay results for surface grab samples from the Pavo Anomaly.

Above: Part of a new channel sample comprising sulfide-matrix breccia from the magmatic sulfide discovery at the Pavo Anomaly. Fragments are altered ultramafic rock. Sulfide matrix is composed of pyrrhotite +/- pentlandite with lesser pyrite and minor chalcopyrite

Above: Pavo EM Anomaly on a first vertical derivative magnetic image showing location of the Blaze nickel sulfide showing and recent field sample lithologies

Next Steps

Additional prospecting recently commenced following the lifting of fire restrictions in the area. A follow-up deep-penetrating ground time-domain EM geophysical survey is also planned to further define initial drill targets. Drilling at Pavo is planned to commence this Fall pending receipt of applicable exploration permits.

The principal objective of the ongoing exploration program is to fully explore the Makwa property for high-grade massive Ni-Cu-PGE sulfide deposits located in structural favourable sites, including structural traps along the base of the Bird River Sill and within interpreted feeder structures to the sill. Pavo is expected to be the first major anomaly to be drill tested. However, there are numerous other untested, coincident magnetic and EM anomalies that are currently being mapped and prospected that could become priorities for future drilling campaigns.

Above: Location of Grid's copper/nickel properties in the Bird River Belt, southeastern Manitoba.

Quality Assurance and Quality Control

Grid Metals applies best practice quality assurance and quality control ("QAQC") protocols in all of its exploration programs. For the Pavo prospecting program, grab samples were cleaned of obvious weathering and bagged and tagged in the field. The samples were then transported by secure carrier to the Actlabs (Thunder Bay) laboratory for sample preparation and analysis for nickel, copper, cobalt and selected major and trace element abundances using a multi-acid digestion method followed by ICP-OES analysis. Samples were also analyzed for Pd, Pt and Au using a lead collection 30 g fire assay method followed by ICP-OES analysis. The Company is using several different certified reference materials ("CRMs") and one analytical blank for the Makwa project to monitor analytical accuracy and check for cross contamination between samples. The analytical results for the CRMs and the blank for the new analytical results reported here did not show any significant bias compared to the certified values and fell within the acceptable limits of variability.

For more information about the Company, please see the Company website at www.gridmetalscorp.com or contact:

Robin Dunbar - President, CEO & Director Telephone: 416-955-4773 Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Brandon Smith - Chief Development Officer - This email address is being protected from spambots. You need JavaScript enabled to view it.
David Black - Investor Relations Email - This email address is being protected from spambots. You need JavaScript enabled to view it.

Qualified Persons Statements

Dr. Dave Peck, P.Geo., the V.P. Exploration of Grid, is the Qualified Person for purposes of National Instrument 43-101 and has reviewed and approved the technical content of this release.

About Grid Metals Corp.

Grid Metals is focused on exploration and development in southeastern Manitoba with four key projects in the Bird River area.

1. The Makwa Property (Ni-Cu-PGM-Co), which is subject to an Option and Joint Venture Agreement with Teck Resources Limited ("Teck"). Teck can earn up to a 70% interest in Makwa by incurring a total of CAD$17.3 million, comprising project expenditures (CAD$15.7 million) and cash payments or equity participation (CAD$1.6 million) with Grid. Makwa is located on the south arm of the Bird River Greenstone Belt.

2. The Mayville Property (Cu-Ni) is located on the north arm of the Bird River Greenstone Belt. The property is owned subject to a minority interest.

3. The Falcon West Property (Li-Cs) is located 110 km east of Winnipeg along the Trans-Canada highway and contains highly anomalous cesium values in a number of historical drill holes including 2.2 m at 15.0% Cs₂O and 3.2 m at 4.6% Cs₂O.

4. The Donner Property (Li-Cs) is adjacent to the Mayville Property, and Grid owns 75% of the project. Grid announced a cesium purchase agreement with Tanco on February 18, 2025.

All of the Company's southeastern Manitoba projects are located on the ancestral lands of the Sagkeeng First Nation with whom the Company maintains an Exploration Agreement.

We seek safe harbour. This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements include the Company's closing of the proposed financial transactions, sale of royalty and property interests. the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward- looking statements to be materially different. 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 failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

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