Fundamental Research Initiates Coverage on Grid Battery Metals and Publishes its Initiation Research Report
NEWS RELEASE
Fundamental Research Initiates Coverage on Grid Battery Metals and
Publishes its Initiation Research Report
Coquitlam, BC – May 9, 2024- Grid Battery Metals Inc. (the “Company” or “Grid”) ( TSXV: CELL,
OTCQB: EVKRF FRA: NMK2) is pleased to report that Fundamental Research Corp. ("Fundamental"
or “FRC”) has initiated coverage of the Company. The Initiating Coverage Report can be viewed at
Fundamental's website and various third-party websites.
Fundamental is one of the largest independent equity research firms in the world, specializing in
small-cap companies and having covered over 650 companies in its 19 years of operation.
Fundamental provides fee-based coverage to companies and Grid expresses no opinion on the fully
independent forecasts, conclusions, and recommendations of Fundamental. Grid contracted
Fundamental to provide its third-party independent research report services for CAD$25,000 + GST.
The Fundamental Research Corp.’s Initiation Research Report includes a third-party independent
review of Grid Battery Metals, an Enterprise Valuation Analysis and a Share Price Target completed
by FRC’s VP & Head of Research, Mr. Siddarth Rajeev, B. Tech (Electronics Engineering), MBA
(Finance), CFA.
About Fundamental Research Corp.
FRC is one of the largest independent equity research firms in the world, having covered over 650
companies in its 21 years of operation. FRC provides fee-based coverage to companies and Grid
expresses no opinion on the fully independent forecasts, conclusions, and recommendations of
FRC. Their research is being used by some of the largest institutional investors in the world who
access it through channels such as Reuters, S&P Capital IQ, Bloomberg, and by subscription.
FRC takes steps to ensure independence including setting fees in advance and utilizing analysts who
must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally,
analysts may not trade in any security under coverage. FRC has full editorial control of all research,
timing of release of the reports, and release of liability for negative reports are protected
contractually.
About Grid Battery Metals Inc.
Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the
TSX Venture Exchange. The Company’s maintains a focus on exploration for high value battery
metals required for the electric vehicle (EV) market.
www.gridbatterymetals.com.
Grid Battery Metals Inc..
3028 Quadra Court
Coquitlam, BC, V3B 5X6
604- 428-5690
www.gridbatterymetals.com
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About Texas Springs Property
The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode
claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot,
Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in
volcanic tuff and tuffaceous sediments of the Humbolt Formation. A Phase 1 exploration program
at the Texas Springs Property (Fall 2023) yielded results with average lithium grades of 2010 ppm,
applying a 1,000 ppm cut-off, and up to 5,610 ppm Lithium.
The Texas Spring property adjoins the southern border of the Nevada North Lithium Project -
owned by Surge Battery Metals Inc. (“Surge”) (TSXV: NILI, OTC: NILIF) and comprised of 725
mineral claims. Surge's first round of drilling identified strongly mineralized lithium bearing clays.
The average lithium content within all near surface clay zones intersected in the 2022 drilling
program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023). More recent
results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press
release September 12, 2023). Our exploration results are on-trend with these results.
About Clayton Valley Lithium Project
The Company owns a 100% interest in 113 lithium lode and placer claims covering over 640
hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene
age Great Basin extension and is still active due to movement along the Walker Lane structural zone.
As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from
multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-
old Long Valley Caldera system and related events. These ash layers are thought to contribute to
the lithium brines extracted by Albemarle and are also likely involved in the formation of the
exposed lithium rich clay deposits on the east side of Clayton Valley.
Volt Canyon Lithium Property
The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of
alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.
On Behalf of the Board of Directors
“Tim Fernback”
Tim Fernback, President & CEO
Contact Information:
Email: [email protected]
Phone: 604- 428-5690
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release
may contain forward-looking statements which include, but are not limited to, comments that involve future
events and conditions, which are subject to various risks and uncertainties. Except for statements of historical
facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt
and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking
statements are not guarantees of future performance and actual results may vary materially from those
statements. General business conditions are factors that could cause actual results to vary materially from
forward-looking statements. It should be noted that results from any adjacent property(s) are not an indication
of what may be found on the Company’s property(s).