Grid Metals Corp (GRDM)

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Grid Metals Provides New Drill Results From East Bull Lake and Strengthens Technical Team 3/11/2021

TORONTO, ON / ACCESSWIRE / March 11, 2021 / Grid Metals Corp. (the "Company") (TSX.V:GRDM)(OTCQB:MSMGF) is pleased to announce new drilling results for its first three holes from the Q1 2021 program at its 100% owned East Bull Lake ("EBL") palladium property (the "Property") in Ontario. The Company resumed drilling in January, following up on encouraging drilling results from its fall 2020 campaign. Grid is also pleased to announce Dr. Reid Keays, an internationally renowned expert on PGE and nickel sulfide deposits, has joined Grid Metals as a Senior Technical Advisor.

Highlights

Significant results from the first three holes from the ongoing winter drilling program are:

54.0 metres averaging 1.05 g/t palladium equivalent grade (Pd Eq) in hole EBL21-01 including 3.0 metres of 3.04 g/t Pd Eq
24.0 metres averaging 0.94 g/t Pd Eq in hole EBL21-02 including 2.0 metres of 2.34 g/t Pd Eq
40.3 metres averaging 1.15 g/t Pd Eq in hole EBL21-03 including 2.30 metres of 3.23 g/t Pd Eq

These three holes represent short step outs from discovery hole EBL20-13 (119m of 1.1 g/t Pd Eq) reported last December.

Dr. Dave Peck, the Company's Vice-President of Exploration and Business Development stated "We continue to intersect good widths of palladium mineralization in the Central Parisien Lake target area. We will be assessing all of the new drilling results over the coming weeks and begin making plans for a summer field program and the next phase of exploration drilling on the Property. With over 20 km of prospective strike length to explore, the continued refinement of our exploration methodologies is a critical step toward meeting our ultimate objective of delivering one or more discoveries having the size and grade required for potential extraction."

Update on Drilling Activities

The Company resumed drilling on the Property on January 21 and expects to complete over 3,000 metres in approximately 15 holes before the end of the month. Drilling is focussed on the Central Parisien Lake target area. Results from the first three holes are reported in Table 1, below. Drilling is targeting a >1 km long geophysical anomaly (resistivity low) with favourable geology and historical outcropping palladium mineralization. This is the first area that the company has focussed on since resuming exploration at East Bull Lake in the spring of last year. Several other similar target areas existing on the Property remain to be drilled. Each of these has comparable size, prospective geology, outcropping mineralization styles and geophysical anomalies to those observed in the Central Parisien Lake area.