Grid Battery Metals Begins Drilling the Clayton Valley Lithium Project
NEWS RELEASE
Grid Battery Metals Begins Drilling the Clayton Valley Lithium Project
Coquitlam, BC – September 12, 2024 - Grid Battery Metals Inc. (the “Company” or “Grid”) (TSXV:
CELL, OTCQB: EVKRF FRA: NMK2 ) is pleased to announce that a reverse circulation drilling
program is commencing on the Company’s claim block at Silver Peak, Clayton Valley, Esmeralda
County, Nevada. This strategic land package, covering approximately 2,300 acres (930 ha), directly
adjoins the western portion of lithium producer Albemarle’s (NYSE: ALB) evaporation ponds and is
nearby Century Lithium Corp.’s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island
Lithium Mine. The Company plans to drill several exploration holes to maximum depths of 1500 ft.
in several strategic locations on the property during the month of September.
Mr. Tim Fernback, Company President and CEO comments “Even though lithium commodity prices
are much lower from their earlier highs, the Clayton Valley area is booming again for lithium clay
exploration and development. Our Clayton Valley Lithium Project is situated near Albemarle
Corporation’s (NYSE: ALB) Silver Peak Mine which is North America’s only producing lithium brine
mining operation. Our property is located immediately to the west of this existing lithium production
facility. Additionally, our lithium property is near Century Lithium’s (TSXV: LCE) (OTCQB:
CYDVF) Angel Island lithium project, which recently released a Positive Feasibility Study detailing a
40-year mine life and an after-tax NPV8 of $3.01 billion. With our current exploration program in
place, we will be able to lay the groundwork for a more significant exploration program budget and
program in the future. We are excited about this opportunity in Nevada for our lithium clay project.”
Mr. Fernback continues “The reverse circulation drilling program is expected to continue until the
early October. The Company should be able to immediately to identify the various clay and sediment
layers and locations of water zones down to the older underlying basement rocks. Maximum
estimated depths for these holes are 1500 feet. Samples for assay will include drill cuttings and
collected water.”
At the Clayton Valley Lithium Project, the reverse circulation drilling program will be performed by
experienced mining contractor, Envirotech Drilling LLC and supervised by Rangefront Geological
(“Rangefront”) and our Company Qualified Person Steven McMillin P.G.
Grid Battery Metals Inc..
3028 Quadra Court
Coquitlam, BC, V3B 5X6
604- 428-5690
www.gridbatterymetals.com
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Proposed Drill Locations (Clayton Valley Lithium Project)
Mr. Steven McMillin P.G. comments “A major northeast fault interpreted from gravity bisects the
claim block and is best apparent in the 500m slice even though the slice is below the basin floor. This
suggests that the fault may be a fluid conduit at depth. Three drill holes in the south were selected
by our team based on the combination of geophysics data and soil sample data that point to possible
lithium accumulation within claystone and brine. The hole located at the north of the property has
no significant soil signature as it is buried by alluvium, but it has a low-resistivity anomaly with a
significant depth extent. A claystone dominant host for lithium is hypothesized at this location.”
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About Rangefront Geological
Elko Nevada-based Rangefront Geological has combined in-depth expertise with cutting-edge
technology to provide mining consulting services, contract labor, field crew services, and vehicular
support to the mining industry. With services available across North America, Rangefront works
closely with its clients to provide high-quality mineral exploration services.
Qualified Person
Mr. Steven McMillin, P.G. is an independent qualified person as defined by National Instrument 43-
101 and has reviewed and approved the technical information contained within this news release.
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.
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 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 930
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.
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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).