Grid Metals Reports Second Batch of Assays from its Phase 2 Drill Program at Falcon West; Cesium Mineralization Intercepted 75 m North of Lucy South Target Area
Grid Metals Reports Second Batch of Assays from its Phase 2 Drill
Program at Falcon West; Cesium Mineralization Intercepted 75 m
North of Lucy South Target Area
May 5, 2026 TORONTO -- Grid Metals Corp. (TSXV: GRDM; OTCQB: MSMGF) ("Grid" or the
"Company") is pleased to report additional cesium and lithium values from drilling at its 100%
owned Falcon West Property (the “Property”). The focus of the Phase 2 drill program is to expand
the limits of the Lucy South cesium target area and to complete step-out drill holes within the
immediate project area. Cesium is designated a critical metal in both the US and Canada and, at
the current time , the potential sources of cesium-bearing pollucite globally are considered
extremely limited.
Drilling Highlights
• Notable cesium intercepts from holes LU26-12 to LU26-50 in the Lucy South target area
include:
o 3.65 m grading 2.51% Cs2O including 0.35 m grading 15.1% Cs2O (LU26-19; from
26.1 metres)
o 2.20 m grading 3.15% Cs2O including 0.56m @ 6.57% Cs2O (LU26-21; from 31.3
metres)
o 2.25 m grading 2.87% Cs2O (LU26-24; from 18.1 metres)
o 1.73 m grading 2.44% Cs2O (LU26-25; from 23.3 metres)
o 2.54 m grading 1.84% Cs2O (LU26-26; from 25.7 metres)
o 1.78 m grading 1.50% Cs2O (LU26-27; from 15.5 metres)
o 2.70 m grading 4.34% Cs2O (LU26-33; from 22.2 metres)
• Drilling also intersected cesium mineralization 75 m north of the Lucy South target area
with hole LU26-50 returning 1.24 m grading 2.40% Cs2O (from 20.4 metres).
• Elevated grades of lithium were also observed in a number of holes (see Appendix 1)
including 6.40 m grading 2.95% Li2O (LU26-21), 6.14 m with 2.95% Li2O (LU26-28), 4.25m
with 3.81% Li 2O (LU26-32), 3.00 m with 3.68% Li 2O (LU26-35), 15.4 m with 1.30% Li 2O
(LU26-37), and 8.30 m with 1.39% Li2O (LU26-49).
• 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 ( 17 holes are
pending). The Company expects to complete the maiden resource in Q3/26.
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 LU26-12 to LU2 6-50 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 LU26-12 to LU26-50,
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)
LU26-19 26.10 29.75 3.65 2.51 1.77 0.20 531
inc. 28.25 29.75 1.50 4.81 2.14 0.33 177
with 28.25 28.60 0.35 15.05 2.07 0.50 49
LU26-21 28.10 34.50 6.40 1.17 2.95 0.20 318
inc. 31.30 33.50 2.20 3.15 2.41 0.08 701
with 32.00 32.56 0.56 6.57 1.99 0.10 150
LU26-24 16.95 21.80 4.85 1.38 1.15 0.26 142
inc. 18.10 20.35 2.25 2.87 1.65 0.26 70
with 20.10 20.35 0.25 6.93 1.62 0.26 50
LU26-25 23.25 25.35 2.10 2.05 0.93 0.32 197
inc. 23.25 24.05 0.80 4.54 1.11 0.18 80
LU26-26 24.90 28.24 3.34 1.44 0.97 0.39 268
inc. 25.70 26.90 1.20 3.25 1.43 0.40 225
with 26.65 26.90 0.25 11.44 2.58 0.35 173
LU26-27 15.25 18.46 3.21 0.93 2.44 0.13 79
inc. 15.48 17.26 1.78 1.50 2.27 0.12 53
LU26-33 21.50 25.35 3.85 3.12 1.42 0.53 184
inc. 22.25 24.95 2.70 4.34 1.39 0.40 126
with 23.30 24.20 0.90 7.72 0.78 0.49 140
LU26-50 20.00 22.18 2.18 1.49 1.14 0.62 564
inc. 20.40 21.64 1.24 2.40 0.80 0.39 796
with 21.00 21.20 0.20 13.04 0.80 0.50 1000
Discussion and Analysis:
• Results for the second batch of assays (holes LU26-12 to LU26-50) from the Phase 2 drill
program are reported here in. Eight (8) of the 39 drill holes drilled intercepted pollucite
mineralization and 29 intercepted spodumene mineralization (see Figure 1, above).
• Phase 2 was designed to: (1) Define the limits of the Lucy South pollucite zone; (2) Fill key
gaps within the zone in order to maintain an average pierce point spacing of 10 metres or
less; and, (3) Test for along and across strike extensions to the Lucy South LCT pegmatite
and pollucite-bearing core zone units. All of these objectives have been achieved.
• A majority of the Phase 2 drill results reported to date were drilled around the periphery
of the zone and have allowed the Company to develop a 3D wireframe that captures the
known limits of pollucite mineralization in the area.
• The current dimensions of the Lucy South pollucite zone are 120 metres along strike, 60
metres across strike and <1 metre to 4 metres in true thickness.
• The average vertical depth to the top of the pollucite zone from surface is ~20 metres but
varies from <5 metres to ~40 metres.
• Extension drilling has confirmed that pollucite mineralization is also present in the Lucy
North target area, approximately 75 metres north of the northernmost pollucite
intersection at Lucy South (see Figure 2, below). As discussed in the previous Lucy South
press release dated April 1, 2026 the Phase 2 program also intersected spodumene -rich
core zone material 70 metres to the west of the Lucy South cesium zone.
• A second set of mineralogical characterization samples have been selected from the
Phase 2 drill holes.
• Core samples for an initial metallurgical test study have also been collected. These will
be used for an initial Ore Sorting test to be conducted later this year.
• The Company is currently preparing to select a 3rd party consultant to complete a cesium
and lithium resource estimation study and an accompanying 43-101 Technical Report.
Figure 2 : Map showing the location of pollucite intersections in the Lucy North target area,
including that reported here for hole LU26-50 (see Table 1 and Appendix 1).
About the Lucy South Pegmatite
• 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 Lucy South cesium zone occupies the core zone of the ~10 metre thick Lucy South
pegmatite and covers an area of ~120 metres x ~ 60 metres. The known pollucite
mineralization occurs over a true thickness of <1m to 4 metres. The zone remains
partially open to the north, east and south.
• The pollucite mineralization is interpreted to have formed in the partially crystallized
core zone during the last stages of solidification of the host Lucy South pegmatite, post-
dating the spodumene-rich mineralization.
• Exploration potential in the project area remains high with a number of occurrences of
spodumene and pollucite mineralization noted in the immediate project area.
About Cesium and the Cesium Market
Cesium is defined as a critical metal by both Canada and the U.S. It 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. There is currently believed to be a significant
shortage of cesium feedstock globally. Pollucite has historically been the mineral of choice for
cesium extraction given its high cesium content.
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 intervals
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 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.
5) The Thompson East Property (Cu, PGE, Au, Ni) project, which is subject to an Option and
Joint Venture Agreement with Boliden Mineral Canada (“Boliden”). Boliden can earn up
to a n 80% interest in Thompson East by investing a minimum of CAD$10 .1 million.
Thompson East is located directly adjacent to the Thompson nickel sulphide mining and
processing operations.
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 LU6-21 to LU26-50, 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. NSA = no significant cesium or lithium
assays to report.
Hole
ID
From
(m)
To
(m)
Length
(m)
Cs2O
(%)
Li2O
(%)
Rb2O
(%)
Ta2O5
(ppm)
LU26-12 54.15 54.65 0.50 0.06 2.06 0.11 5980
LU26-13 49.77 49.97 0.20 0.26 1.31 0.91 90.0
LU26-14 46.55 50.00 3.45 0.08 1.11 0.21 347
LU26-15 NSA
LU26-16 NSA
LU26-17 NSA
LU26-18 24.35 28.00 3.65 0.09 1.47 0.22 828
inc. 25.90 27.25 1.35 0.03 2.91 0.01 966
LU26-19 26.10 29.75 3.65 2.51 1.77 0.20 531
inc. 28.25 29.75 1.50 4.81 2.14 0.33 177
with 28.25 28.60 0.35 15.05 2.07 0.50 49.0
LU26-20 26.95 29.30 2.35 0.24 0.09 2.19 49
and 31.85 33.57 1.72 0.03 0.73 0.01 123
and 34.20 34.40 0.20 1.88 0.67 0.69 10
LU26-21 28.10 34.50 6.40 1.17 2.95 0.20 318
inc. 28.50 31.30 2.80 0.06 4.33 0.06 81.4
and inc. 31.30 33.50 2.20 3.15 2.41 0.08 701
with 32.00 32.56 0.56 6.57 1.99 0.10 150
LU26-22 29.30 33.65 4.35 0.28 2.36 0.35 171
inc. 29.30 31.30 2.00 0.08 3.62 0.03 95.0