Harbinger Research Initiates Coverage on Grid Battery Metals Inc. and Publishes its Initiation Research Report
NEWS RELEASE
Harbinger Research Initiates Coverage on Grid Battery Metals Inc. and
Publishes its Initiation Research Report
Coquitlam, BC – August 15, 2023- Grid Battery Metals Inc. (“formerly Nickel Rock Resources Inc.”)
(the “Company” or “Grid Battery”) ( TSXV: CELL, OTCQB: EVKRF FRA: NMK2 ) announces that
Harbinger Research LLC, an Atlanta USA based independent research firm, has published its Initial
Research Report on the Company as of August 14, 2023.
The full research report can be accessed and downloaded by the public at
https://content.equisolve.net/_375204edf049f9a2ddb79465ac426697/harbingerresearch/files/research
/2023-08-14_Grid_Battery_Metals_Coverage_Initiation_Report.pdf
The Harbinger Research Report includes a Grid Battery Metals Enterprise Valuation Analysis and a
Share Price Target, as well as a “Strong Speculative Buy” recommendation.
The Harbinger Research Report further outlines that Grid Battery Metals, a pioneering mineral
exploration company with significant experience, is strategically positioned in the battery metals
market with a strong focus on lithium and nickel mineral exploration. As the demand for EVs and
battery technologies increases, Harbinger Senior Research Analyst Mr. Brian Connell, CFA states that
both lithium and nickel commodity markets are projected to experience significant growth over the
next decade.
The Report concludes that “Grid Battery Metals presents a compelling investment opportunity,
driven by its strategic focus on key battery metals essential for the burgeoning electric vehicle (EV)
industry. The Company has a highly-seasoned team that previously founded Surge Battery Metals
(TSX-V: NILI), (OTCQB: NILIF), a more mature and successful lithium and nickel exploration and
development company, demonstrating a track record of successful execution. Furthermore, the
Company has three promising lithium projects operating in the mining-friendly state of Nevada, two
of which are adjacent to more developed lithium projects that share a similar underlying geology.
And given the extreme growth of the EV market, which is likely to persist for at least the next two
decades, we believe that Grid Battery Metals is well positioned for success. Therefore, we initiate
coverage of the Company with a Strong Speculative Buy Rating, and a 12-month share price
target of $0.22. We believe that all risk-tolerant investors seeking exposure to the EV market
segment should consider an investment in Grid Battery Metals.”
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.
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 303 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).
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.
About Harbinger Research, LLC
Harbinger Research, LLC is one of a new breed of issuer-sponsored research boutiques, providing
unbiased equity research coverage to smaller issuers that cannot attract research coverage from
traditional brokerage firm’s research departments. Our mission is to help both investors and public
issuers by improving the availability of issuer information and by providing sound, unbiased analysis
of our issuer clients’ businesses, industries, and current market valuation.
The policies of Harbinger Research, LLC require that all personnel strictly adhere to the CFA
Institute’s Code of Ethics and Standards of Professional Conduct, and its Best Practice Guidelines
Governing Analyst / Corporate Issuer Relations. Please see www.cfainstitute.org for more
information.
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To view our disclosures and disclaimers, or for more information, visit www.harbingerresearch.com.
Harbinger Research, LLC
Brian Connell, CFA
Senior Research Analyst
(315) 215-3280
On Behalf of the Board of Directors
“Tim Fernback”
604-428-5690
Tim Fernback, President & CEO
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.