Grid Provides Corporate Update Announces Property Acquisition
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For Immediate Release
Exchange: TSX Venture
August 2 , 2018
Toronto, Ontario
Symbol:GRDM
Shares Outstanding: 42,116,610
GRID PROVIDES CORPORATE UPDATE
ANNOUNCES PROPERTY ACQUISITION
GRID METALS CORP. (TSXV – GRDM; Frankfurt NJF; OTC: MSMGF ) today announced
that it has entered into a property option for the acquisition of a total of nine patented claims
and mining leases in the Thunder Bay Mining Division approximately 200 km west of Thunder
Bay. Under the terms of the Agreement the Company has made an initial cash payment of
$43,750 and will issue 200,000 common shares subject to the approval of the TSX Venture
Exchange. The Company is required to make total cumulative annual cash payments of
$330,000 over 5 year s and has a property buyout option fo r $550,000 prior to seven years
subject only to a 2% NSR . The target commodities on the property are cobalt, copper and
nickel.
In a separate transaction t he Company has also made a due diligence payment of US
$75,000 and is negotiating for and evaluating additional mineral rights in the area controlled
by another arm’s length third party . At the cur rent time the Company is not subject to a
definitive binding agreement for any additional mineral rights. The Company will announce the
terms of any additional acquisitions of mineral rights at the time a definitive agreement is
reached. There is no certainty that further mineral rights will or will not be acquired as a result
of the negotiations.
The Company’s core asset is its Makwa Mayville Nickel Copper Cobalt PGE Project near Lac
du B onnet, Manitoba. That project is the subject of a Preliminary Economic Assessment
("PEA") completed in April 2014 outlining the production of nickel and copper concentrates
from two open pits located approximately 35 kilometers apart. The Company is starting work
to update the PEA commencing with metallurgical test work on core sampl es from the
Mayville Cu-Ni Deposit . The Company has r ecently completed drilling on a lithium and
tantalum bearing pegmatite nea r its Mayville Property. Results from an additional eight drill
holes are pending.
Carey Galeschuk P.Geo is the Qualified Person for Grid Metals Corp.
To find out more about Grid Metals Corp. (TSX-V: GRDM)
visit our website at www.gridmetalscorp.com or:
Telephone: 416-955-4773 email: [email protected]
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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 Securitie s Act (Ontario) (together, “forward -
looking statements”). Such forward -looking statements may include the Company’s plans for its mineral projects , 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 uncertain ties
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, currency fluctuations, fluctuations in the price of nickel 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 th e
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 it 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.