Grid Metals Continues to Expand Cesium Mineralization at Falcon West
Grid Metals Continues to Expand Cesium Mineralization at Falcon
West
February 3, 2026 TORONTO -- Grid Metals Corp. (TSXV: GRDM; OTCQB: MSMGF) ("Grid" or the
"Company") is pleased to report additional assays from the Lucy South target zone at its 100% -
owned Falcon West cesium property (the "Property”). The Phase 1 drill program was focused on
defining a near -surface zone of pollucite -hosted cesium mineralization in the Lucy South
pegmatite, which i s a highly -fractionated, shallow- to moderately -dipping, lithium+
cesium+tantalum enriched (“LCT”) pegmatite dyke that is approximately 10 metres thick. The
cesium is largely contained within the mineral pollucite , which is the preferred mineral for
processing into cesium chemicals.
Highlights (Drill Holes LU25-12 to 39):
• High-grade cesium intercepts from holes LU25-12 to LU25-39 (see Table 1) include:
o 7.4m at 6.0% Cs2O with 3.9 at 10.6% Cs2O (LU25-18, from 20.75 metres)
o 8.1m at 5.0% Cs2O with 2.8m at 13.4% Cs2O (LU25-21, from 18.35 metres)
o 12.5m at 5.2% Cs2O with 3.0m at 20.5% Cs2O (LU25-36, from 26.55 metres)
• The cesium mineralization has now been defined over an initial area of 100 m x 30 m with
an average thickness of approximately five (5) metres. The initial target area remains
open in a number of directions.
• High-grade lithium intercepts in the reported drill holes include 4.4m at 3.1% Li2O (LU25-
25) and 5.5 m at 4.7% Li 2O (LU25-32). Most of the known lithium mineralization in the
Lucy South pegmatite is associated with spodumene, as confirmed by visual logging and
UV light fluorescence testing.
A total of 39 holes have now been reported from the Phase 1 program, in which 67 holes totalling
3,035 metres were completed. A Phase 2 drill program recently commenced and will include
both infill and extension drilling around the known pollucite intersections.
Dr. Dave Peck, P. Geo., Grid’s Vice President of Exploration, stated "We are pleased to continue
to report positive cesium and lithium drill results at Lucy South. We are highly encouraged that
the near-surface cesium mineralization appears to be showing good continuity within the initial
100 metre long and 30 metre wide target area. We are also pleased with the continuity and
grade of associated lithium (spodumene) mineralization at Lucy South , which is spatially
associated with the known pollucite intercepts. With both the cesium and lithium mineralization
open in a number of directions, we look forward to testing the open-pit potential of Lucy South
with our Phase 2 program.”
Figure 1: Map of Lucy South target area with interpreted pierce points into the top of the flat -
lying Lucy LCT pegmatite projected vertically to surface for holes LU25 -01 to LU25-39 and
previous holes completed in this area The initial priority target area is outlined by the dashed
line and represents the outline of the Lucy South pegmatite where it is within approximately 50m
of surface.
Table 1: Analytical Results for Drill Holes LU25 -12 to LU25-39, Lucy South cesium target. See
Appendix for hole locations. Note the true thickness for each interval reported is estimated to
average 90% of the reported interval lengths.
Hole ID
From
(m)
To
(m)
Length
(m)
Cs2O
(%)
Li2O
(%)
Rb2O
(%)
Ta2O5
(ppm) Comments
LU25-12 56.87 71.52 14.65 0.12 0.62 0.38 186 Li Rich
inc. 61.90 62.95 1.05 0.43 0.98 0.43 144 Li + Cs Rich
LU25-13 1.50 9.11 7.61 0.04 0.33 0.23 266 Ta Rich
LU25-14 No Significant Assays
LU25-15 24.10 27.40 3.30 0.32 3.89 0.10 59.5 Li + Cs Rich
LU25-16 24.00 27.43 3.43 0.13 0.46 0.54 227 Li + Rb + Ta Rich
inc. 24.97 27.02 2.05 0.17 0.59 0.61 287 Rb + Li+ Ta Rich
LU25-17 19.20 27.00 7.80 0.12 0.55 0.45 215 Li + Rb + Ta Rich
LU25-18 20.75 28.10 7.35 6.01 0.84 0.32 49.5 Cs Rich
inc. 22.70 26.60 3.90 10.59 0.61 0.30 40.3 "
with 23.25 24.25 1.00 20.89 0.49 0.61 - "
LU25-19 31.85 36.07 4.22 0.07 2.06 0.26 94.4 Li Rich
inc. 32.29 34.09 1.80 0.04 4.04 0.12 59.2 "
LU25-20 No Significant Assays
LU25-21 18.35 26.40 8.05 4.95 1.04 0.50 108 Cs Rich
inc. 18.73 22.85 4.12 9.50 0.72 0.39 77.5 "
with 19.08 21.85 2.77 13.36 0.20 0.46 3.07 "
inc. 19.08 21.50 2.42 14.18 0.12 0.50 2.48 "
with 19.08 20.00 0.92 27.81 0.25 0.87 6.52 "
LU25-22 21.15 21.70 0.55 3.11 2.39 0.39 50.0 Cs Rich
and 21.70 25.41 3.71 0.10 0.41 0.45 326 Ta Rich
LU25-23 21.90 31.90 10.00 0.25 0.94 0.47 131 Li Rich
inc. 22.90 27.10 4.20 0.19 0.79 0.73 140 Rb Rich
and 27.10 30.30 3.20 0.45 1.49 0.24 122 Li + Cs Rich
LU25-24 29.01 36.61 7.60 0.25 1.97 0.26 146 Li Rich
inc. 29.28 32.94 3.66 0.30 3.70 0.04 164 "
with 31.00 32.94 1.94 0.52 3.26 0.06 236 Li + Cs + Ta Rich
and 34.05 35.00 0.95 0.40 0.45 1.09 125 Rb Rich
LU25-25 28.16 32.58 4.42 0.20 3.09 0.13 157 Li Rich
inc. 28.50 31.66 3.16 0.26 3.94 0.10 186 Li (Cs)
and 39.44 40.46 1.02 0.23 1.36 1.01 221 Li + Rb + Ta Rich
LU25-26 39.30 43.54 4.24 0.56 0.67 0.43 33.4 Li + Cs Rich
inc. 40.00 43.54 3.54 0.64 0.66 0.49 29.3 "
LU25-27 29.50 33.40 3.90 0.11 2.17 0.37 131 Li Rich
inc. 30.00 31.80 1.80 0.08 3.49 0.13 63.3 "
LU25-28 No significant assays
LU25-29 60.20 62.00 1.80 0.78 0.73 0.77 54.4 Cs + Rb Rich
LU25-30 23.15 30.00 6.85 0.14 2.13 0.30 152 Li Rich
inc. 23.40 25.88 2.48 0.05 4.11 0.03 132 "
and 25.88 28.80 2.92 0.26 1.25 0.57 192 Li + Rb Rich
LU25-31 25.60 33.45 7.85 0.16 1.21 0.69 229 Li + Rb Rich
inc. 26.15 31.65 5.50 0.17 1.42 0.78 244 "
LU25-32 21.20 28.00 6.80 1.08 3.91 0.12 325 Li + Cs + Ta Rich
inc. 21.30 26.80 5.50 1.32 4.72 0.08 357 "
and 26.00 26.80 0.80 8.46 3.50 0.26 1450 Cs + Li + Ta Rich
LU25-33 24.10 33.65 9.55 0.16 0.91 0.36 198 Li Rich
inc. 26.00 29.65 3.65 0.23 1.53 0.41 379 Li + Ta Rich
with 27.80 29.05 1.25 0.42 1.98 0.04 862 Li + Cs + Ta Rich
LU25-34 24.00 30.20 6.20 0.95 1.23 0.29 360 Li + Cs + Ta Rich
inc. 25.65 27.80 2.15 2.57 2.26 0.17 325 Cs + Li + Ta Rich
LU25-35 25.90 32.50 6.60 0.11 2.97 0.25 137 Li Rich
inc. 25.90 29.88 3.98 0.08 4.32 0.04 98.0 "
and 29.88 32.50 2.62 0.15 0.90 0.57 196 Li + Rb Rich
LU25-36 26.55 39.00 12.45 5.24 0.98 0.27 108 Cs Rich
inc. 27.20 30.15 2.95 20.47 0.40 0.74 - Cs + Rb Rich
and 30.15 35.15 5.00 0.78 1.79 0.03 138 Li + Cs Rich
LU25-37 26.05 30.45 4.40 0.25 2.82 0.50 261 Li Rich
LU25-38 25.85 31.65 5.80 2.80 2.02 0.23 67.8 Cs + Li Rich
inc. 26.40 28.80 2.40 0.10 3.88 0.04 71.7 Li Rich
and 28.80 30.40 1.60 9.42 0.95 0.38 60.6 Cs Rich
LU25-39 25.80 31.40 5.60 1.44 1.59 0.40 420 Li + Cs + Ta Rich
inc. 26.95 29.60 2.65 0.43 2.17 0.51 605 Li + Rb + Ta Rich
and 29.60 30.80 1.20 5.63 1.60 0.16 523 Cs + Li + Ta Rich
Drill Results Discussion
With 39 of 67 holes reported from the Q4 2025 Lucy cesium drilling program , a much clearer
picture of the geology and grade variability in the Lucy South pegmatite is emerging. Using a
combination of geological logging, available assay results and 3D geological and geostatistical
modeling software, the following key characteristics of the Lucy South LCT pegmatite have been
gleaned:
(1) The Lucy South LCT pegmatite, which hosts the lithium, cesium, rubidium and tantalum
mineralization reported here and in the previous press releases for the Property, is a
tabular dyke that has a general northeast strike, a shallow to moderate southeast dip, and
an average true thickness of approximately ten (10) metres. The northwestern part of
the dyke is exposed in outcrop;
(2) The mineralized target zone within the Lucy South pegmatite consists of spodumene
(lithium) and pollucite (cesium). It averages approximately five metres in true thickness
and tend s to occur in the middle parts of the dyke, with finer -grained wall zones
commonly occurring on the upper and lower contacts with the enclosing mafic
metavolcanic units;
(3) The known pollucite intersections within Lucy South cover a drill-defined initial target
area of ~100m along strike and 30 metre s downdip, with maximum cesium grade x
thickness (from the 39 holes reported to date ) reaching 12.45 metres averaging 5.24%
Cs2O (LU25-36, Table 1). The maximum individual sample grade reported to date is 0.53
metres with 30.43% Cs2O (hole LU25-21, Table 1);
(4) The current distribution of pollucite -bearing drill intersections suggests a general
southerly plunge to the highest-grade areas (i.e., Cs2O-rich);
(5) The known spodumene -rich intersections extend beyond the area covered by the
pollucite-bearing portion of the dyke, with peak Li2O (%) grade x thickness (for the 39
holes reported to date ) reaching 6.83 metres with 3.91% Li 2O (hole LU25 -32, Table 1).
Spodumene-rich intersections cover an area of approximately 120 metres along strike and
60 metres across strike;
(6) The lithium + cesium-enriched parts of the Lucy South pegmatite remain open up-plunge
to the north -northeast, downdip to the southeast , and down -plunge to the south -
southwest;
(7) The Lucy South pegmatite also hosts anomalous grades of tantalum (e.g., 2.65 metres
with 605 ppm Ta2O5 in hole LU25-39; 0.80 metres with 1,450 ppm Ta2O5 in hole LU25-32)
and rubidium (e.g., 1.02 metres with 1.01% Rb2O in hole LU25-25); and,
(8) Spodumene- +/- pollucite-bearing LCT pegmatite is also present in the Lucy North
pegmatite, which is currently interpreted as being either: (a) a structural repetition of the
Lucy South pegmatite; or, (b) a separate, southeast -dipping LCT pegmatite dyke located
approximately 50 metres below the Lucy South pegmatite.
Project and Cesium Overview
The Falcon West Cesium Project is one of only three known high-grade cesium exploration
projects under development, globally. Cesium-rich pollucite ore can be crushed and ore sorted
to a high -value pollucite concentrate, which is the principal feedstock for cesium chemical
production. As such, the capital intensity of producing a high -grade cesium concentrate from
near surface material could be extremely low as a conventional mill and tailings facility would not
be required.
Cesium is an extremely high-value material with the current price of cesium carbonate trading
for US$220,000/t1, approximately ten times the value of lithium carbonate. Its unique properties
mean it has a wide variety of industrial applications in the oil and gas, optical, medical and next-
generation solar industries.
Quality Assurance and Quality Control
The Company’s ongoing exploration program at the Falcon West lithium property is being
supervised by Dave Peck, P.Geo. Grid Metals applies best practice quality assurance and quality
control ("QAQC") protocols on all of its exploration programs. For the current program , all core
was logged and sampled at the Company’s core facility located on its Makwa nickel property.
Generally, 1.0 metre sample lengths were used. Samples were bagged and tagged and then
transported by secure carrier to the Activation Laboratories facility in Ancaster, Ontario for
sample preparation and analysis for lithium, cesium, rubidium, tantalum and selected major and
trace element abundances using a sodium peroxide fusion total digestion method followed by
ICP-OES and ICP-MS analysis. The Company is using two rare metal certified reference materials
("CRMs") and an analytical blank for the program to monitor analytical accuracy and check for
cross contamination between samples. The blank and CRM results for the reported interval s
were determined to fall within the accepted range of deviation from the certified values. A check
assay program using a similar sodium peroxide fusion digestion method has recently been
initiated with check samples being analyzed at AGAT laboratories in Thunder Bay, Ontario.
Dr. Dave Peck, P.Geo., the Company’s Vice President, Exploration, has reviewed and approved
the technical information contained in this release.
About Grid Metals Corp.
Grid Metals is focused on exploration and development in southeastern Manitoba with four key
projects in the region:
1 SMM pricing, China VAT excluded as of January 2026
1) The Falcon West Property (Li -Cs) is located 110 km east of Winnipeg along the Trans -
Canada highway and contains highly anomalous cesium and lithium values in LCT
pegmatite including the Lucy South pegmatite dyke, the focus of Grid’s current
exploration efforts.
2) The Makwa Property (Ni -Cu-PGM-Co), which is subject to an Option and Joint Venture
Agreement with Teck Resources Limited (“Teck”) . Teck can earn up to a 70% interest in
Makwa by incurring a total of CAD$17.3 million, comprising project expenditures
(CAD$15.7 million) and cash payments or equity participation (CAD$1.6 million) with Grid.
Makwa is located on the south arm of the Bird River Greenstone Belt.
3) The Mayville Property (Cu-Ni) is located on the north arm of the Bird River Greenstone
Belt. The property is owned subject to a minority interest. The project contains a NI 43 -
101 compliant open pit resource of 32 million tonnes grading 0.61% CuEq.
4) The Donner Property (Li-Cs) is adjacent to the Mayville Property, and Grid owns 75% of
the project. The project contains a NI 43-101 compliant resource of 6.8 million tonnes
grading 1.39% Li2O.
All of the Company’s southeastern Manitoba projects are located on the ancestral lands of the
Sagkeeng First Nation with whom the Company maintains an Exploration Agreement.
On Behalf of the Board of Grid Metals Corp.
For more information about the Company, please visit our website at www.gridmetalscorp.com
or contact:
Robin Dunbar – President, CEO & Director – [email protected]
Brandon Smith – Chief Development Officer – [email protected]
David Black – Investor Relations – [email protected]
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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) (togethe r, "forward-looking statements"). Such forward -looking
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overall economic potential of its properties, the availability of adequate financing and involve known and
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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, completion 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.sedarplus.ca.
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