Grid Metals Elects not to Proceed with Cobalt Road Option
TORONTO, ON / ACCESSWIRE / October 29th,2018 / Grid Metals Corp. (TSX.V: GRDM | USOTC: MSMGF) ("Grid" or "the Company") today announced that it would notbe proceeding with the Option and Exploration Agreement for the Cobalt RoadProject announced September 13th, 2018. The Company will maintainits focus on the exploration and development of its core projects in the BirdRiver Greenstone Belt of southern Manitoba. The advanced-stageMakwa-Mayville Nickel-Copper-Cobalt-PGE project and Mayville Lithium explorationproject provide the Company with significant exposure to key battery metals.
Annual Meeting
The Annual Meeting of theCompany will be held on Tuesday, October 30th, 2018 at 2 Queen St.East, Suite 1500, Toronto, ON at 11 a.m.All shareholders and interested parties areinvited to attend.
About Grid Metals
Grid Metals is an exploration and developmentcompany focused on two battery metals projects in southern Manitoba, a tier onejurisdiction. Grid's projects are located near excellent infrastructure.At thecore of Grid's value is the Makwa-Mayville Ni-Cu-Co-PGE Project where in 2014 aPreliminary Economic Assessment ("PEA") was completed.Thecompany is focused on implementing key recommendations from the 2014 PEA with the aim of enhancing project economicsand advancing the project.Grid recentlyacquired the Mayville Lithium project (located adjacent to the Mayville Deposit ) and has completed a drill program with further drill resultspending.Metallurgical testwork is plannedat both projects.The Company is alsocompleting additional exploration in the Bird River Greenstone Belt.
Tofind out more about Grid Metals, please visit our website at www.gridmetalscorp.com.
OnBehalf of the Board of Grid Metals Corp.
RobinDunbar – President, CEO & Director
Telephone:416-955-4773
Email: rd@gridmetalscorp.com
We seek safeharbour.
This news releasecontains forward-looking statements within the meaning of the United StatesPrivate Securities Litigation Reform Act of 1995 and forward-lookinginformation within the meaning of the Securities Act (Ontario) (together,"forward-looking statements"). Such forward-looking statements may include theCompany's plans for its properties,theoverall economic potential of its properties, the availability of adequatefinancing and involve known and unknown risks, uncertainties and other factorswhich may cause the actual results, performance or achievements expressed orimplied by such forward-looking statements to be materially different. Suchfactors include, among others, risks and uncertainties relating to potentialpolitical risk, uncertainty of production and capital costs estimates and thepotential for unexpected costs and expenses, physical risks inherent in miningoperations, metallurgical risk, currency fluctuations, fluctuations in theprice of nickel, cobalt, copper and other metals, completion of economicevaluations, changes in project parameters as plans continue to be refined, theinability or failure to obtain adequate financing on a timely basis, and otherrisks and uncertainties, including those described in the Company's ManagementDiscussion and Analysis for the most recent financial period and MaterialChange Reports filed with the Canadian Securities Administrators and availableat www.sedar.com.
Neither the TSX Venture Exchange nor it RegulationsServices Provider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of this pressrelease.
SOURCE: Grid Metals Corp.