Grid Metals Corp. Provides Update ON Exploration Activities at Bannockburn Nickel and East BULL Lake Palldium Properties

GRID METALS CORP. PROVIDES UPDATE ON EXPLORATION ACTIVITIES AT

BANNOCKBURN NICKEL and EAST BULL LAKE PALLDIUM PROPERTIES

Toronto, Ontario, August 3, 2021 – Grid Metals Corp. (the "Company") (TSXV:GRDM)(OTCQB:MSMGF)

is pleased to provide a shareholder update for its projects located in Ontario Canada. The drill program

at Bannockburn Nickel is completed and the Company is awaiting assay results from the remaining

seven drill holes submitted for assay. At the East Bull Lake Palladium Property first results from a

sampling program over new prospective drill target areas are now pending with select samples expected

in early August. At East Bull seven target areas are being field investigated in the summer field program

which will assist in targeting for the upcoming phase of drilling.

Bannockburn Nickel Project

DRILL ASSAYS PENDING

The Company recently completed an eight-hole drill program at Bannockburn where the exploration

target is bulk tonnage disseminated nickel mineralization in a serpentinized ultramafic complex.

Previous drilling defined a >1 km trend of disseminated nickel sulfide mineralization referred to as the B

Zone. The geology and nickel grade x thickness observed at the B Zone is analogous to that reported

from Canada Nickel Company’s Crawford Nickel project – also located in the Timmins Mining District.

The first drill hole was rush assayed and returned 296 metres averaging 0.28% nickel (see Company’s

June 28th, 2021 news release for details). All of the completed holes intersected between 200 and 350

metres of the target host ultramafic. Results from the remaining seven holes are pending and will be

released as soon as possible.

Mineralogical analysis to determine the type and abundance of nickel sulfides present will be initiated

after all assay results have been received. The Company hopes to discover a significant near-surface

nickel sulfide resource on the B Zone trend, targeting a pit constrained resource of over 100 million

tonnes of near surface mineralization containing at least 200 Kt of potentially recoverable nickel.

East Bull Lake Palladium Properrty.

PALLADIUM COPPER SAMPLES FROM NEW ZONES - ASSAYS PENDING

A three-month field program of detailed surface sampling commenced in early July at East Bull. The

program will cover several multi-km long trends of coincident geophysical anomalies and historical

anomalous palladium grades – each of which is a prospective drill target for the upcoming drill program.

Results from the field program will used to guide the next phase of drilling that is expected to

commence early this fall.

The initial phase of sampling is focused on the East Lobe of the intrusion and yielded a total of 225

surface samples along a ~ 2 km trend with further sampling to come over previously unmapped

portions of the East Lobe. Initial assay results from selected samples are expected early in August.

Drill targets continue to be prioritized however the next phase of drilling at East Bull Lake will likely

include several holes into the highly prospective East Lobe as well as extension drilling on the recently

defined Central Parisien Lake Zone, which remains open for 2 km to the west. In all there are seven

target areas that will be further field reviewed and sampled during the current summer program.

Other activities at East Bull Lake include an initial metallurgical test program that is nearing completion

at an independent laboratory. The metallurgical test program will test for level of recovery of

palladium, platinum, gold, copper and nickel as well as concentrate grades of the laboratory flotation

product. The Company views this early stage metallurgical testing as a significant determinant of the

prospectivity of East Bull.

Also at East Bull the Company has submitted select samples from the 2020 and 2021 drilling for

rhodium analysis.

Dr. Dave Peck, P.Geo., has reviewed and approved the technical content of this release for purposes of

National Instrument 43-101.

About Grid Metals Corp.

Grid Metals Corp. is an exploration and development Company that has three projects focused on Nickel

Copper-PGM-Cobalt. In addition to the East Bull Lake Palladium and Bannockburn Nickel properties

Grid has a PEA stage Ni-Cu-PGM-Co project (Makwa- Mayville) in southeastern Manitoba. Grid has

signed exploration agreements at all three of its properties with the affected First Nations.

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]

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, 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.sedar.com.