Grid Battery Metals Files NI 43-101 Technical Report on its Clayton Valley Lithium Project in Nevada
NEWS RELEASE
Grid Battery Metals Files NI 43-101 Technical Report on its
Clayton Valley Lithium Project in Nevada
Coquitlam, BC – March 6, 2024- Grid Battery Metals Inc. (the “Company” or “Grid
Battery”) (TSXV: CELL, OTCQB: EVKRF FRA: NMK2 ) is pleased to announce that the NI 43-101
Technical Report for Grid’s Clayton Valley Lithium Project, dated March 4, 2024, prepared by Mr.
Steven McMillin P.G. of Rangefront Geological, has been filed on SEDAR+ (www.sedarplus.ca) and can
be viewed on the Company’s website at Clayton Valley Technical Report.
At the Clayton Valley Lithium Project, the Company contracted the services of Rangefront to perform
an updated and revised NI 43-101 Technical Report. To complete the Technical Report, the Company
used the results of prior soil samples, geophysical surveys, and drilling on the property, to help
identify structure and target areas favorable to lithium accumulation and determine next steps for
its overall exploration plan. The recommended 2024 exploration plan includes additional CSAMT
geophysical survey work, additional soil sampling, and a subsequent multi-hole exploratory drilling
program on the property.
Mr. Tim Fernback Grid President & CEO comments “We are happy to report the filing of the NI 43-
101 Technical Report on our Clayton Valley Lithium Project. The recommendation for future
exploration ultimately includes a drilling program as a logical next step here on the property. The
timing is good for the Company, and with approximately CAD$7.0 million in our treasury, we are
well-positioned and fully funded for our 2024 exploration season.”
Mr. Fernback continues “Clayton Valley holds the only producing lithium brine system in the United
States and holds amazing potential for lithium clay-hosted deposits. Our lithium claims in Clayton
Valley are bordering the Silver Peak Lithium Project of Albemarle Corporation (NYSE: ALB), home to
the only producing lithium mine in North America. Previously, Albemarle Corporation announced
that it will continue to invest in its Silver Peak mine in order to double lithium production by the year
2025. Another neighbour of ours to the east, Century Lithium Corp. ( TSXV: LCE OTCQX: CYDVF ),
has issued a pre-feasibility study referencing a 26% after-tax internal rate of return and an NPV 8 of
$1.03 billion. Furthermore in May 2023, Nevada was ranked again as the #1 Mining Jurisdiction in
the world by the Fraser Institute, a position it has held several times in the recent past. Our plan at
Grid is to realize the potential of this area of Nevada for lithium-hosted brine and claystone for
our shareholders.”
Grid Battery Metals Inc..
3028 Quadra Court
Coquitlam, BC, V3B 5X6
604- 428-5690
www.gridbatterymetals.com
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Clayton Valley Property
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).
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 a Qualified Person as defined by National Instrument 43-101 and has
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 results with average lithium grades of 2010 ppm,
applying a 1,000 ppm cut-off, and up to 5,610 ppm Lithium.
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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.
About the British Columbia, Nickel Projects
The Mount Sidney Williams Group consists of three claim blocks with a total area of 10,569 hectares
in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX
Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining
division. Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel
mineralization occurs as awaruite. The Mitchell Range Group area claim consists of one claim block
covering 8,659 hectares with demonstrated metallic mineralization including nickel, cobalt, and
chromium. Nickel cobalt mineralization has not been well explored, but the presence of awaruite
has been documented. The Company’s B.C. Nickel properties are held within Grid’s wholly-owned
subsidiary, AC/DC Battery Metals Inc.
The Company has previously announced plans to spin out its wholly-owned subsidiary, AC/DC
Battery Metals Inc., finance it separately, and separately list it on the TSX Venture Exchange in 2024.
This transaction once complete, will provide a valuable share dividend to each Grid Shareholder of
record for no additional cost.
On Behalf of the Board of Directors
“Tim Fernback”
Tim Fernback, President & CEO
Contact Information:
Email: [email protected]
Phone: 604- 428-5690
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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).