Grid Metals Corp (GRDM)

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Grid Metals Corp Updates Drilling Program at East Bull Lake

https://gridmetalscorp.com/news/grid-metals-corp-updates-drilling-program-at-east-bull-lake/

Toronto, Ontario, October 7, 2020 – Grid Metals Corp. (the "Company") (TSXV:GRDM) today provided an update regarding its 2020 exploration program at its 100% owned East Bull Lake ("EBL") palladium property (the "Property") in Ontario. The Company is exploring for palladium mineralization along a 12-kilometre-long interpreted feeder structure. The East Bull Lake Property covers approximately 85% of the palladium-bearing East Bull Lake Intrusion, located approximately 80 km west of Sudbury, Ontario.

Highlights

-Drilling resumed in early September and to date four holes have been completed – assays are pending

-An additional three holes are planned

-The next hole will be in an area of anomalous palladium mineralization identified in surface grab samples taken in August 2020 including a maximum of 7.67 g/t Pd, 1.41 g/t Pt and 0.20 g/t Au in one sample from the Parisien Lake target area

-Initial work has been completed on metal tenors on drill samples from East Bull and results compare favourably with those typically observed in mill feed at the Lac des Iles palladium mine

Update on Drilling Activities

Since resumption of drilling on September 3rd four new drill holes have been completed including a follow-up hole on the Feeder Target in the Parisien Lake area and three holes drilled at the North Margin Target area. Three more holes are planned - two holes in the East Lobe of the intrusion and one additional hole in the Parisien Lake - Kidd Zone area. Completed and proposed hole locations for the current drilling program are shown on Figure 1, below. Samples have been submitted for assay analysis on three of the first four holes with results now pending.