Grid Metals Reports First Assays from its Phase 2 Drill Program at Falcon West Including 12.9% Cs2O over 3.8m
Grid Metals Reports First Assays from its Phase 2 Drill Program at
Falcon West Including 12.9% Cs2O over 3.8m
April 1, 2026 TORONTO -- Grid Metals Corp. (TSXV: GRDM; OTCQB: MSMGF) ("Grid" or the
"Company") is pleased to report significant cesium, lithium and tantalum values from drilling at
its 100% owned Falcon West Property (the “Property”). The exploration target is the Lucy South
pegmatite – a globally rare example of a highly fractionated LCT pegmatite – with cesium hosted
in the mineral pollucite.
The strategic nature of cesium is evidenced by its designation as a critical metal in both the US
and Canada. At the current time , the potential sources of pollucite globally are considered
extremely limited.
Drilling Highlights
• Notable cesium intercepts from the first 11 holes of the Phase 2 program include:
o 3.8m with 12.9% Cs 2O including 1.6m with 26.5% Cs 2O (LU26-03; from 19.6
metres)
o 3.3m with 4.32% Cs2O including 1.0m with 13.8% Cs 2O (LU26-11; from 27.8
metres)
• Drilling also intersected the spodumene-rich parts of the core zone of the Lucy South
pegmatite with peak grades approaching the theoretical maximum lithium oxide content
of pure spodumene (e.g., 1.2m with 6.16% Li2O in hole LU26-09, from 39.2 metres).
• Significant tantalum (e.g., 0.9m with 1.48% Ta2O5 in hole LU26-05, from 39.2 metres) and
rubidium (e.g. 1.2m with 1.53% Rb 2O in LU26 -10, from 46.0 metres) were also
intersected, further highlighting the extremely fractionated nature of the Lucy South
pegmatite.
• The continuation of a highly fractionated pegmatite environment was confirmed with
step-out hole LU26-10, drilled 70 metres to the east of the currently defined limits of
the Lucy South Cs -Li-Ta-rich core zone . This drill hole yielded percent level cesium and
rubidium grades.
• The Phase 2 drill program was completed last month with 67 holes drilled for a total of
3,075 metres. This followed the successful Phase 1 drill program that was completed late
last year (67 holes, 3,035 metres). Assays for the remaining 56 holes are pending.
Figure 1: Map of Lucy South target area with interpreted pierce points , projected vertically to
surface, into the top of the Lucy South LCT pegmatite. Pierce points include those from newly
reported holes LU26-01 to LU2 6-11 and those previous reported holes. Background image is
based on a recent government LIDAR survey.
Table 1: Selected Length-Weighted Cesium Interval Assays from Drill Holes LU26-01 to LU26-11,
Lucy South Phase 2 Drilling Program which commenced in January 2026 . See Appendix 1 for
complete results and Appendix 2 for hole locations. Note the true thickness for each interval
reported is estimated to represent between 80% and 100% of the reported interval lengths.
Hole ID From
(m)
To
(m)
Length
(m)
Cs2O
(%)
Li2O
(%)
Rb2O
(%)
Ta2O5
(ppm)
LU26-02 23.70 27.80 4.10 0.72 1.08 0.26 241
LU26-03 19.61 23.45 3.84 12.9 0.46 1.16 8281
inc. 19.61 21.17 1.56 26.5 0.32 1.06 190
LU26-04 31.10 32.10 1.00 0.06 3.40 0.02 790
LU26-05 39.18 40.10 0.92 0.01 1.30 0.04 14780
LU26-09 54.80 59.75 4.95 0.03 1.70 0.01 36
inc. 58.60 59.75 1.15 0.04 6.16 0.01 75
LU26-10 46.00 47.15 1.15 1.33 0.90 1.53 25
and 53.55 54.95 1.40 1.22 0.78 1.44 3
LU26-11 27.80 31.10 3.30 4.32 1.11 0.50 171
inc. 29.00 30.00 1.00 13.84 0.95 0.52 80
Drill Results Discussion
• Results for the first 11 holes from the Phase 2 program are reported herein. These holes
extended the resource drilling grid by ~25 metres to the northeas t. Four of the 11 drill
holes drilled intercepted cesium mineralization and nine intercepted lithium
mineralization.
• The exploration target is the approximate 5m wide core zone of the Lucy South pegmatite
which hosts a mineralized package of cesium (pollucite), lithium (spodumen e) and
tantalum (tantalite) in varying concentrations.
• In the 120m x 60m area where drilling is concentrated at the Lucy South pegmatite, it is
predominantly flat-lying. The pollucite mineralization found is mostly situated no deeper
than 30m from surface.
• LU2026-10 which was drilled 70m to the east (see Figure 1 ) intercepted a highly
fractionated LCT pegmatite at approximately 40m vertical depth and bodes well for future
exploration drilling in the area.
• All 134 drill holes have targeted the Lucy South pegmatite in the 2025/2026 program s
(Phase 1 and Phase 2) . Grid expects to commence work on an initial cesium resource
estimate for Lucy South immediately following receipt of all assays from the Phase 2
program (56 holes are pending).
About the Lucy South Pegmatite and Cesium
• The Company is undertaking the current drilling at Lucy South in light of the scarcity of
global supply of cesium feedstock associated with the mineral pollucite – which is the
preferred feedstock for processing into cesium chemicals . LCT pegmatites featuring
percentage level grades of cesium are considered geologically rare. Global cesium
production has historically occurred from only three LCT pegmatite bodies.
• The minimum strike length of the pollucite-bearing core zone of the Lucy South
pegmatite is ~120 metres and its average width ranges from several metres to ~60
metres. The known pollucite mineralization remains partially open along and across
strike.
• The pollucite mineralization is interpreted to have formed during the last stages of
crystallization of the host Lucy South pegmatite, post -dating the spodumene -rich
mineralization and forming discrete pockets of Cs-rich pegmatite within the core zone.
• Exploration potential in the project area remains high with a number of occurrences of
spodumene and pollucite mineralization noted in the immediate project area.
• Cesium is used in a number of important energy and security related applications with
the current global production of cesium products largely controlled by a Chinese
company. As such, the potential for defining a cesium resource in Manitoba, Canada
presents a compelling opportunity for Grid.
Figure 2: Map of Current Drill-Defined Extent of the Lucy South and Lucy North LCT pegmatite .
Wireframes for pollucite zones (red) and the Li +/- Cs +/- Ta-rich LCT pegmatite core zone (lilac)
are based on mineralogical logging and reported Cs2O and Li2O grades. The Lucy LCT pegmatite
remains open in a number of directions.
About Cesium and the Cesium Market
Cesium is defined as a critical metal by both Canada and the U.S. It has growing uses in high
technology and important industrial applications. There is currently believed to be a s ignificant
shortage of cesium feedstock globally.
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 provides a focused cesium opportunity at its 100% -owned Falcon West cesium
project with upside optionality at its other mineral projects in southeastern Manitoba:
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 the Company’s Curation Connect showcase here 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
statements include the Company’s intended use of proceeds and receipt of regulatory approvals , th e
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.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulations Services 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.
Appendix 1: Drilling results for holes LU6-01 to LU26-11, Lucy South Phase 2 drill program. Collar
coordinates are based on the NAD 83 datum and the UTM Zone 15N projection. See Appendix 2
for hole locations. Note the true thickness for each interval reported is estimated to represent
between 80% and 100% of the reported interval lengths.
Hole ID
From
(m)
To
(m)
Length
(m)
Cs2O
(%)
Li2O
(%)
Rb2O
(%)
Ta2O5
(ppm)
LU26-01 17.34 18.00 0.66 0.70 1.45 0.88 210
LU26-02 23.70 27.80 4.10 0.72 1.08 0.26 241
inc. 24.33 24.44 0.11 9.34 1.26 0.30 -
LU26-03 19.61 23.45 3.84 12.9 0.46 1.16 8281
inc. 19.61 21.17 1.56 26.5 0.32 1.06 190
and 22.67 23.45 0.78 10.1 0.40 0.47 1952
and 21.17 22.17 1.00 0.36 0.65 1.72 21860
LU26-04 25.70 32.10 6.40 0.05 0.96 0.17 238
inc. 31.10 32.10 1.00 0.06 3.40 0.02 790
LU26-05 36.10 40.95 4.85 0.08 0.42 0.15 2862
inc. 36.10 36.25 0.15 0.56 0.81 0.13 90
and 39.18 40.10 0.92 0.01 1.30 0.04 14780
LU26-06 32.00 35.00 3.00 0.14 0.66 0.56 692
LU26-07 22.70 29.90 7.20 0.20 0.68 0.43 319
inc. 23.70 23.85 0.15 4.15 3.60 0.09 1550
LU26-08 38.85 41.73 2.88 0.08 1.03 0.30 636
inc. 39.10 40.00 0.90 0.03 2.15 0.12 270
LU26-09 54.80 59.75 4.95 0.03 1.70 0.01 36
inc. 58.60 59.75 1.15 0.04 6.16 0.01 75
with 59.00 59.75 0.75 0.03 6.87 0.01 110
LU26-10 46.00 54.95 8.95 0.39 0.60 0.59 249
inc. 46.00 47.15 1.15 1.33 0.90 1.53 25
and 48.15 49.50 1.35 0.09 1.10 0.60 602
and 53.55 54.95 1.40 1.22 0.78 1.44 3
LU26-11 27.80 31.10 3.30 4.32 1.11 0.50 171
inc. 29.00 30.00 1.00 13.8 0.95 0.52 80
Appendix 2: Drill hole specifications. Collar coordinates are based on the NAD 83 datum and the
UTM Zone 15N projection.
Drill Hole
Number
Easting
(m)
Northing
(m)
Elevation
(m)
Length
(m)
Azimuth
(°)
Dip
(°)
LU26-01 321683 5502695 327 30 315 -65
LU26-02 321694 5502692 327 33 315 -65
LU26-03 321687 5502687 327 42 295 -80
LU26-04 321707 5502681 327 42 285 -60
LU26-05 321707 5502681 327 42 230 -80
LU26-06 321707 5502693 327 45 315 -65
LU26-07 321700 5502700 327 42 315 -65
LU26-08 321715 5502688 327 48 315 -65
LU26-09 321746 5502674 327 69 258 -45
LU26-10 321794 5502678 326 69 315 -60
LU26-11 321709 5502699 327 42 315 -65