Grid Metals Corp. announced the results for the initial six holes of an ongoing exploration and resource delineation drilling program at its Donner Lake Lithium Property (the Property), located in the Bird River Greenstone Belt of southeastern Manitoba, 150 kilometers from Winnipeg. The holes targeted the Main Dyke pegmatite and included intersections of 9.5 metres of 1.4% Li2O, 4.3 metres of 1.6% Li2O and 3.4 metres of 1.7% Li2O.

Drilling has now covered a strike length exceeding 800 metres and to a vertical depth of up to 250 metres. Donner Lake is a 75% /25% joint venture with Lithium Royalty Corp. Results to Date: To date a total of 29 drill holes have now been completed and six of those holes are reported here.

Assays are pending for the other drill holes. The new drilling combined with the shallow holes completed in 2018 and previously reported by the Company covers more than 800 m strike length of the Main Dyke to an average vertical depth of approximately 200 - 250 meters. An important initial result from the resource drilling along the Main Dyke trend is the recognition of multiple, sub-parallel pegmatite dykes.

Drilling to date has intersected three distinct lithium-enriched pegmatites including the Upper Main Dyke, which ranges from 1.00 to 9.93 m width, the Main Dyke, which ranges from 1.00 to 7.58 m in width, and the Lower Main Dyke, which ranges from 1.08 to 3.71 m in width. Note that these widths represent the measured core length of the dykes and do not represent true widths. Drilling Plans: Two rigs are currently drilling at the Property and will focus on the following objectives: Completing the initial phase of resource delineation; Exploration drilling along the interpreted strike extensions of both the Main and Northwest dykes; Initial testing of selected, historic lithogeochemical anomalies on the property and, Exploration drilling of other mapped lithium-bearing pegmatites that were identified in the 2022 field program, including the Southwest Dykes.

Lithogeochemical Program: Most of the currently proposed exploration drill holes are designed to test the southwest extension of the Main Dyke system, which is in part modeled from the results of a 1980's lithogeochemical survey conducted by the Tantalum Mining Corporation (Tanco). As shown there is a good correlation of the contoured lithium lithogeochemical anomalies and the known strike extent of the Main Dyke. Lithium enrichment in the host rocks to LCT-type pegmatites is interpreted to occur during pegmatite emplacement and involves metasomatic alteration that can extend for tens of metres to >100 metres away from the dyke margins.

Lithogeochemistry is a preferred exploration tool for rare element-enriched pegmatites. Accordingly, Grid completed a much larger lithogeochemical survey at the Property during summer and fall of 2022. The results from that survey are currently being evaluated and will be used to help guide future exploration at the Property over an expanded area.