Grid Metals Elects not to Proceed with Cobalt Road Option
TSX VENTURE: GRDM
TORONTO, ON / ACCESSWIRE / October 29th, 2018 / Grid Metals Corp. (TSX.V: GRDM | USOTC: MSMGF) ("Grid" or "the Company") today announced that it would not be proceeding with the Option and Exploration Agreement for the Cobalt Road Project announced September 13th, 2018. The Company will maintain its focus on the exploration and development of its core projects in the Bird River Greenstone Belt of southern Manitoba. The advanced-stage Makwa-Mayville Nickel-Copper-Cobalt-PGE project and Mayville Lithium exploration project provide the Company with significant exposure to key battery metals.
The Annual Meeting of the Company will be held on Tuesday, October 30th, 2018 at 2 Queen St. East, Suite 1500, Toronto, ON at 11 a.m. All shareholders and interested parties are invited to attend.
About Grid Metals
Grid Metals is an exploration and development company focused on two battery metals projects in southern Manitoba, a tier one jurisdiction. Grid's projects are located near excellent infrastructure. At the core of Grid's value is the Makwa-Mayville Ni-Cu-Co-PGE Project where in 2014 a Preliminary Economic Assessment ("PEA") was completed. The company is focused on implementing key recommendations from the 2014 PEA with the aim of enhancing project economics and advancing the project. Grid recently acquired the Mayville Lithium project ( located adjacent to the Mayville Deposit ) and has completed a drill program with further drill results pending. Metallurgical testwork is planned at both projects. The Company is also completing additional exploration in the Bird River Greenstone Belt.
To find out more about Grid Metals, please visit our website at www.gridmetalscorp.com.
On Behalf of the Board of Grid Metals Corp.
Robin Dunbar – President, CEO & Director
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 may include the Company's plans for its properties, 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.
Neither the TSX Venture Exchange nor it Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.