GRDM.V · 2020-03-23 12:00:00

Grid Provides Corporate Update On Finances and Exploration

Exploration Programs

Toronto, Ontario, March 23, 2020 – Grid Metals Corp. (the "Company") (TSXV:GRDM) is pleased to

provide a corporate update to shareholders of its activities in light of the significant global

developments with respect to the Covid-19 pandemic and current adverse market conditions.

Financing and Working Capital

Grid currently has working capital of approximately $2 million dollars. Final approval has been received

from the TSX Venture Exchange for the Non-Brokered Private Placement (the “Financing”) announced

on January 31, 2020. Final details for the placement were the issuance of a total of 10,769,123 units,

each unit consisting of one common share and one half common share purchase warrants ( 10,769,123

common shares and 5,384,562 share purchase warrants in aggregate). Each warrant can be exercised

at an exercise price of $0.20 for a period of three years. The Company paid finder’s fees of $61,243 in

cash and 471,096 finder’s warrants. Each finder’s warrant is exercisable at $0.20 for a period of three

years. The shares issued under the Private Placement have a hold period of 4 months and one day and

are not tradeable before June 15, 2020.

Exploration Activities

Grid announced on February 27, 2020 that it had entered in to a geophysical contract with Quantec

Geoscience Limited to complete a Spartan magnetotelluric survey at its East Bull Lake palladium

property located 80 km west of Sudbury, Ontario. The survey has now commenced and is designed to

delineate drill targets associated with favourable rock types and potential feeder structures. Dave Peck

P.Geo VP Exploration and Corporate Development is overssieng the project for Grid with Kevin Stevens

of Stevens Geoscience Inc. providing geophysical expertise. The survey will cover areas of the intrusion

that are deemed to be favourable for concentration of palladium dominant mineralization.

Grid Metals is carefully evaluating the potential risks of the current Covid 19 pandemic to its sraff and

contractors. In light of the fluid nature of events the Company would like to note that there is no

certainty that the current exploration activities will be completed without interruption.

Notwithstanding the sharp drop in commodity prices including palladium Grid believes that its

exploration target of a multi million ounce palladium deposit near Sudbury Ontario offers excellent

risk/reward for its shareholders. East Bull is the primary exploration focus of the Company at this time.

About Grid Metals Corp.

Grid Metals Corp. is an exploration and development Company that has a diversified portfolio of projects in the

nickel-copper-platinum group metal sectors. These commodities are vital to the emerging battery metals, energy

storage and automotive sectors. All of Grid's projects are located in secure North American mining jurisdictions.

The Company is focused on timely advancement of its property portfolio through prudent exploration and

development activities.

Dave Peck P.Geo ON is the Qualified Person for Grid Metals Corp. for purposes of National Instrument 43-101 and

has reviewed and approved the technical content of the information in this release.

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

David Black - Investor Relations