GRID METALS CORP. COMPLETES RESOURCE DRILLING AT DONNER LAKE LITHIUM PROPERTY SGS Canada to Complete Resource Estimate

GRID METALS CORP. COMPLETES RESOURCE DRILLING AT DONNER

LAKE LITHIUM PROPERTY

SGS Canada to Complete Resource Estimate

April 6, 2023 Grid Metals Corp (TSXV:GRDM; OTCQB:MSMGF) (the "Company") is pleased to announce

drill results from the completion of the resource drill program at the Donner Lake Lithium Property located

in southeast Manitoba which totalled 17,643 metres. The pending resource calculation for Donner Lake

will include results from both the Main Dyke and Northwest Dyke . The current program of r esource

drilling started in October 2022.

Results reported on today are from the remaining holes at the Main Dyke. Significant intercepts from the

deeper holes in the core lithium resource area at the Main Dyke include the following:

• GDL 23-57 1.4% over 7.0m from 294.0 m

• GLD 23-59 1.5% over 8.3m from 309.4m

• GDL 23-60 1.5% over 8.3m from 290.7m

• GDL 23-61 1.3% over 4.1m from 334.2m

• GLL 23- 62 1.6% over 7.6 m from 364.8m

• GDL 23-63 1.8% over 4.6m from 344.2m

• GDL 23-64 1.9% over 6.2m from 349.6m

Note: The intersection true thicknesses are estimated to represent 50 -75% of reported intersection

lengths.

Highlights

• 36 drill holes were completed in the core resource area of the Main Dyke at approximately 80 to

90 metre average spacing.

• The Main Dyke remains open at depth along an 890 metre strike length and to the northeast

• The Main Dyke has been drilled to an average vertical depth of approximately 300 metres

• The Main Dyke is near vertically dipping with consistent grade

• Mineralization noted in drill core is predominantly spodumene

• Additional spodumene-bearing pegmatites have been noted in the hangingwall and footwa ll of

the Main dyke and these may add to the resource potential at the Main Dyke

• The deepest fence of drill holes all had grades of > 1.5% Li2O over several metres

Resource Drilling and Project Activities

A total of forty seven (47) drill holes were carried out in the program at the Main Dyke which comprised

13,283 metres. Thirty six (36) drill holes were completed in the core area of the deposit and eleven (11)

drill holes were completed outside the core resource area. A table of drill results from the Main Dyke

from the recently completed drill holes in the core resource area are included at the end of this press

release. Several of the exploration holes intercepted narrow spodumene bearing dykes. Drill data from

the exploration holes is being integrated with the results of the 2022 field lithogeochemical sampling

program and a drone magnetic survey completed in Q1 2023. This work is focused on generating the next

exploration targets for the Property.

Above: Long section, looking to the northwest, for the Main Dyke and assays from recent holes drilled at

depth in the core resource area.

In addition to the drilling at the Main Dyke, resource drilling has now also been completed at the

Northwest Dyke along a 760 metre strike length with a total of 4,360 metres. Assay results are pending

from this drilling and will be reported when received at a future date.

Above: Location of the Main Dyke and Northwest Dyke and drill hole traces from the 2018, 2022 and

current drilling campaigns.

An initial National Instrument 43 -101 resource estimate has been commissioned by the Company and

will be carried out by SGS Canada Inc. The resource estimate is planned for completion by the end of

second quarter 2023 and will facilitate future economic studies for the Donner Lake Lithium project. The

focus of initial economic analysis is expected to be on toll milling of material from D onner Lake at the

nearby Tanco Mine. The Company has a Memorandum of Understanding Agreement in place with

Tantalum Mining Corporation of Canada Limited which operates Tanco. The Company believes that this

approach to project development may enable a sho rter path to generating initial cash flow from the

Donner Lake Project.

Other activities underway at the project include ongoing environmental work and metallurgical studies of

material from both the Main Dyke and the Northwest Dyke, One metallurgical study is being completed

by XPS Expert Process Solutions (a Glencore Company) and a separate test program is being completed at

the Tanco Mine . As well an Advanced Exploration Permit (AEP) is being finalized for submission to

regulators in Manitoba. The purpose of the AEP is to enable extraction of representative bulk samples of

material to be test milled at the Tanco Mine.

The Donner Lake Lithium project is located in the traditional ter ritory of the Sagkeeng First Nation. The

Property is currently a joint venture between Grid Metals (75%) and Lithium Royalty Corp. (25%).

Above: Donner Lake project location map.

QAQC

The exploration program at Donner Lake is being supervised by Carey Galeschuk , P.Geo., who is an

experienced lithium geologist with nearly three decades of exploration experience in the Bird River Belt

with Grid Metals, Tantalum Mining Corporation of Canada and other companies. Grid Metals applies best

practice quality assurance and quality control ("QAQC") protocols on all it ’s exploration programs. For

the Donner Lake Lithium Project drilling program, core was logged and sampled at the Company’s core

facility located on the Makwa Property. Generally , 1.0 metre sample lengths were used. Samples were

bagged and tagged and then transported by secure carrier to the Actlabs (Thunder Bay) laboratory for

sample preparation and analysis for lithium, cesium, 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 lithium + rare metal certified reference materials ("CRMs") and an

analytical blank for the program to monitor analytical accura cy and check for cross contamination

between samples.

Mr. Galeschuk has reviewed and approved the contents of this press release with respect to N I 43-101

reporting guidelines.

About Grid Metals Corp.

Grid Metals is focused on both lithium and Ni-Cu-PGM in the Bird River area approximately 150 km north

east of Winnipeg Manitoba. In addition to activity at Donner Lake the Company has a PEA stage Ni -Cu-

PGM-Co project (Makwa-Mayville) undergoing exploration and development activity.

On Behalf of the Board of Grid Metals Corp.

For more information about the Company please see the Company website at www.gridmetalscorp.com

or contact:

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

David Black - Investor Relations Email: [email protected]

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 includ e the Company’s closing of the proposed financial transactions, sale of royalty and

property interests. 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, completion of economic evaluations, changes in project

parametres 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.

Neither the TSX Venture Exchange nor its Regulations Service s Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press

release.

This news release does not constitute an offer of securities for sale in the United States. The sec urities

being offered have not been, nor will they be, registered under the United States Securities Act of 1933,

as amended, and such securities may not be offered or sold within the United States absent U.S.

registration or an applicable exemption from U.S. registration requirements

Appendix: Length-weighted Average Lithium Intersections for the Main Dyke.

Drill Hole UTM E UTM N Pegmatite Intervals Zone Interval Assays

Azimuth Dip From (m) To (m) Interval (m) From (m) To (m) Li2O % Interval (m)

GDL22-19 147° -45 317627 5610286 44.67 46.60 1.93 45.23 46.07 1.7 0.84

160.08 164.22 4.14 160.40 163.82 1.7 3.42

GDL22-20 147° -70 317627 5610286 80.90 83.05 2.15 81.46 82.83 1.7 1.37

224.07 227.24 3.17 224.25 227.04 1.5 2.79

GDL22-21 147° -45 317556 5610213 115.70 121.00 5.30 116.34 120.65 1.6 4.31

GDL22-22 147° -70 317556 5610213 164.2 169.79 5.59 164.2 169.79 1.0 5.59

GDL22-23 147° -45 317464 5610097 74.65 77.82 3.17 75.17 77.68 1.5 2.51

GDL22-24 147° -70 314647 5610097 108.00 117.93 9.93 108.00 117.54 1.4 9.54

145.03 148.73 3.70 145.03 147.75 1.5 2.72

GDL22-25 147° -49 317372 5610239 135.44 138.46 3.02 135.88 138.12 1.14 2.24

236.38 244.62 8.24 236.52 243.66 1.45 7.14

256.08 260.25 4.17 256.26 259.14 1.26 2.88

GDL22-26 147° -65 317372 5610239 189.75 192.30 2.55 190.08 192.00 1.7 1.9

287.16 287.98 0.82 287.16 287.98 1.0 0.8

291.50 297.43 5.93 291.50 297.43 2.0 5.9

302.83 305.53 2.70 302.83 305.53 1.6 2.7

GDL22-27 147° -47 317351 5610179 75.95 78.12 2.17 75.95 78.12 1.43 2.17

216.77 218.81 2.04 216.77 218.65 1.91 1.88

220.34 223.33 2.99 220.34 223.33 1.84 2.99

244.08 244.56 0.48 244.08 244.56 0.45 0.48

GDL22-28 147° -64 317351 5610180 109.39 111.43 2.04 109.39 111.43 1.73 2.04

251.92 259.50 7.58 252.22 259.20 1.62 6.98

GDL22-29 147° -45 317264 5610148 85.90 87.07 1.17 86.25 86.90 1.32 0.65

221.15 222.65 1.50 221.65 222.65 0.52 1.00

224.35 225.2 0.85 224.35 225.2 0.66 0.85

226.48 229.85 3.37 226.48 228.22 1.5 1.74

GDL22-30 147° -58 317264 5610148 105.95 107.60 1.65 106.28 107.60 1.88 1.32

250.37 257.85 7.48 251.36 257.15 1.78 5.79

GDL22-31 147° -47 317203 5610058 24.80 25.60 0.80 24.80 25.40 1.28 0.60

186.89 192.83 5.94 186.89 192.83 1.25 5.94

GDL22-32 147° -65 317203 5610058 38.10 38.85 0.75 38.10 38.85 1.64 0.75

229.88 237.70 7.82 229.97 236.77 1.44 6.80

GDL22-33 147° -45 317136 5610117 110.27 111.28 1.01 110.27 111.28 1.76 1.01

251.87 253.47 1.60 251.87 253.47 1.15 1.60

254.47 259.7 5.23 254.47 259.7 1.13 5.23

GDL22-34 147° -45 317109 5609841 50.50 54.30 3.80 50.82 54.30 1.56 3.48

GDL22-35 147° -58 317070 5609956 174.71 180.25 5.54 175.00 179.95 1.25 5.24

GDL22-36 147° -65 317109 5609841 60.6 64.5 3.90 60.77 64.30 1.8 3.5

GDL22-37 147° -65 317070 5609956 213.53 222.08 8.55 213.53 222.08 1.57 8.55

including 215.38 222.08 6.70 215.38 222.08 1.93 6.70

GDL22-38 147° -45 317000 5609910 138.75 143.5 4.75 139.40 143.37 1.54 3.97

GDL22-39 147° -65 317000 5609910 168.41 170.13 1.72 168.41 170.13 1.26 1.72

171.73 176.5 4.77 171.73 176.3 1.44 4.57

GDL22-40 147° -45 317140 5610000 151.4 155.34 3.94 151.50 155.34 1.68 3.84

GDL22-41 147° -55 317140 5610000 177.9 183.7 5.80 178.27 183.47 1.76 5.20

GDL22-42 147° -55 317470 5610340 212.00 215.93 3.93 212.36 215.70 1.81 3.34

295.07 300.32 5.25 295.35 299.73 1.58 4.38

GDL22-44 147° -65 317672 5610320 190.54 192.08 1.54 190.54 192.08 1.14 1.54

212.00 213.88 1.88 212.00 213.00 1.13 1.00

GDL22-45 147° -45 317030 5609810 74.55 77.92 3.27 74.55 77.92 1.13 3.37

GDL22-47 147° -45 316930 5609900 187.58 191.38 3.80 187.68 191.38 1.46 3.70

GDL23-48 147° -65 316930 5609900 236.06 241.00 4.94 236.06 240.73 1.53 4.67

294.20 295.10 0.90 294.20 295.10 0.74 0.90

GDL23-49 147° -45 316970 5609771 80.50 82.98 2.48 81.47 82.52 1.62 1.05

GDL23-57 138° -60 317132 5610130 144.80 145.45 0.65 144.80 145.45 1.02 0.65

147.55 148.30 0.75 147.55 148.30 1.31 0.75

293.85 301.70 7.85 294.00 301.00 1.45 7.00

GDL23-59 164° -58 317132 5610130 309.44 318.10 8.66 309.44 317.77 1.56 8.33

GDL23-60 149° -67 317263 5610160 130.60 132.37 1.77 130.88 131.88 1.35 1.00

148.13 150.15 2.02 148.13 149.00 1.63 0.87

290.20 299.82 9.62 290.70 299.07 1.63 8.37

GDL23-61 147° -50 316923 5610050 334.21 338.34 4.13 334.21 338.34 1.31 4.13

341.45 342.75 1.30 341.45 342.75 0.60 1.30

GDL23-62 148 -55 317279 5610280 268.25 269.69 1.44 268.25 269.20 0.57 0.95

364.70 372.60 7.90 364.80 372.40 1.60 7.60

GDL23-63 146 -53 316990 5610094 344.51 349.13 4.62 344.51 349.13 1.79 4.62

GDL23-64 146° -55 317369 5610336 278.45 280.22 1.77 278.56 280.05 0.93 1.49

346.16 356.00 9.84 349.60 355.77 1.88 6.17

363.93 366.19 2.26 363.93 366.19 1.01 2.16