Grid Metals Completes Fully Subscribed $8.52 Million Financing

GRID METALS COMPLETES FULLY SUBSCRIBED

$8.52 MILLION FINANCING

Not for distribution to United States Newswire Services or for dissemination in the United States

Toronto, Ontario , September 26 2022 – Grid Metals Corp. (the " Company") (TSXV:GRDM

OTCQB:MSMGF ) is pleased to announce completion of a private placement of securities (the “Offering”)

originally announced on August 22, 2022. The Company issued a total of 56 million common shares of

the company including 20 million shares by way of a charitable flow through offering which were priced

at $0.21 per share. The total gross proceeds of the Offering were $8,520,000. The second tranche of the

financing consisted of the issuance of 36,000,000 common shares of the Company issued at $0.12 per

share. All shares issued under the Offering are subject to a voluntary one year hold period. Churchill

Strategic Investments Group Pty Ltd of Perth Australia was an investor and also acted as the lead manager

for the Offering.

The Offering included an additional investment from Lithium Royalty Corp a leading pure play battery

royalty and streaming company and new cornerstone investments by AMCI Group - a globally diversified

mining and investment group specializing in the natural resource industry , Primero Group – a highly

specialized engineering and operations company based in Perth Australia and the Waratah Electrification

and Decarbonization Fund .

The net proceeds from the common s hares will be used for exploration of the Company’s property

portfolio in Manitoba and Ontario and for general working capital purposes. Grid is currently focused on

the PEA stage Makwa Mayville Ni -Cu-PGM-Co project in Manitoba and the Donner Lake and Campus

Creek lithium properties in Manitoba and Ontario. Grid also has other mining interests including Mineral

Exploration Licenses in northern Manitoba prospective for nickel copper and platinum group metals and

several exploration stage lithium properties.

Finders fees for the second tranche consisted of seven million finders warrants exercisable at $0.20 for a

period of 3 years and $144,000 cash. Total finders fees paid for the Offering consisted of 12,360,000

finders warrants and $355,200 cash.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the

"U.S. Securities Act"), or any applicable state securities laws, and may not be offered or sold to, or for the

account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation

S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration

requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy

nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would

be unlawful.

About Grid Metals Corp.

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

focused on the nickel -copper-platinum group metal s and lithium. Grid’s projects are located in the

provinces of Manitoba and Ontario Canada. The Company is focused on timely advancement of its

property portfolio through prudent exploration and development activities. To find out more about Grid

Metals Corp., please visit www.gridmetalscorp.com.

On Behalf of the Board of Grid Metals Corp.

Robin Dunbar - President, CEO & Director Telephone: 416-955-4773 Email: [email protected]

David Black - Investor Relations Email: [email protected]

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.

We seek safe harbour. This news release contains forward-looking statements within the meaning of the

United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the

meaning of the Securities Act (Ontario) (together, "forward -looking statements"). Such forward-looking

statements may include the Company's plans for its properties, the overall economic potential of its

properties, the availability of adequate financing and involve known and unknown risks, uncertainties and

other factors which may cause the actual results, performance or achievements expressed or implied by

such forward- looking statements to be materially different. Such factors include, among others, risks and

uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and

the potential for unexpected costs and expenses, physical risks inherent in mining operations,

metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other

metals, compl etion of economic evaluations, changes in project parameters as plans continue to be

refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and

uncertainties, including those described in the Company's Management Discussion and Analysis for the

most recent financial period and Material Change Reports filed with the Canadian Securities

Administrators and available at www.sedar.com.