GRDM.V · 2020-01-15 12:00:00

Grid Corporate and Financing Update

Financings

GRID CORPORATE AND FINANCING UPDATE

January 15, 2019 Toronto Ontario Grid Metals Corp (TSXV:GRDM ) (“Grid” or

the “ Company”) today announced the closing of its financing ( the “Offering’)

announced on October 29, 2019. Pursuant to the Offering the Company has issued a

total of 3,000,000 Units at $0.10 per Unit and 1,360,000 Flow Through shares at

$0.125 per share for total gr oss proceeds of $470,000. Each Unit consists of a

common share and a warrant exercisable at $0.15 per share for a period of two years.

Subsequent to the initial closing announced December 2, 2019 the Company issued

1,080,000 flow through shares and 500,0 00 Units in the final tranche for gross

proceeds of $185,000. Finders fees of $2,450 were paid in connection with the final

tranche. The President and CEO of Grid subscribed for 200,000 shares of the flow

through portion of the Offering.

A portion of t he proceeds of the Offering will be used to finance the exploration on

the East Bull Lake palladium property, which is located approximately 80 km west of

Sudbury Ontario. Information about the East Bull Lake (“EBL”) property can be

found on the Grid website at www.gridmetalscorp.com.

Grid to Attend VRIC

The Company is pleased to announce it will be attending the Vancouver Resource

Investment Conference on January 19 and 20 and will be exhibiting at Booth #510.

The Company will make a corporate presentation on January 20 at 2:40 pm and will

include commen tary on the strong palladium market. Grid has strong exposure to

palladium through its Makwa -Mayville resource, its PGE zone at the Mayville

property, and its EBL project. The next phase of work at EBL will target Lac des

Isle-type ( structurally controll ed) palladium deposits. The Company recently

announced the addition of Dr. Dave Peck Ph.D., the former V.P., Exploration at North

American Palladium Ltd. (the former owner of the Lac des Isle palladium mine) to its

management team. Dave has been appointe d to the position of V.P. Exploration and

Business Development.

About Grid Metals Corp.

Grid Metals Corp. is an exploration and development Company that has a diversified

portfolio of projects in the nickel -copper-platinum group metal sectors. These

commodities are vital to the emerging battery metals, energy storage and automotive

sectors. All of Grid's projects are located in secure North American mining

jurisdictions. The Company is focused on timely advancement of its property portfolio

through prudent exploration and development activities.

In addition to the East Bull Lake PGM Property Grid has ongoing development work

at its Makwa Mayville Nickel -Copper-PGM project located in Manitoba. The

Company is working on completion of an updated NI 43 -101 Preliminary Economic

Assessment (PEA) for that project. The existing PEA was completed in April 2014.

To find out more about Grid Metals, please visit www.gridmetalscorp.com.

On Behalf of the Board of Grid Metals Corp.

Robin Dunbar - President, CEO & Director

Telephone: 416-955-4773

David Black - Investor Relations