Grid Metals Files NI 43-101 Technical Report for Mineral Resource Estimate

Donner Lake Lithium Property Southeastern Manitoba Canada

TORONTO, September 6, 2023 - Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ("Grid" or the "Company") reported today that it has filed a technical report, in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), with respect to a NI 43-101 mineral resource estimate (the "MRE") for the Donner Lake :Lithium Property . The title of the Report is Mineral Resource Estimate for the Donner Lake Lithium Property Manitoba, Canada. The report was authored by Rohan Millar B.Sc. P.Geo. - SGS Geological Consulting; Faisal Saheed B.Sc. P.Geo. - SGS Geological Consulting; and Ian Ward P. Eng.- Ian Ward Consulting Services.

Grid announced the results of the Mineral Resource Estimate on July 18, 2023. Complete details of the mineral resource estimate (6.81 million tonnes grading 1.29% Li2O Inferred ) were contained in the Grid press release dated July 18, 2023. The technical report is filed at www.sedar.com and can be viewed or downloaded there.

Primero Engineering Scope

The Company also today announced the that scope of work with Primero Engineering on the reconfiguring of the True North Gold Mill in Bissett Manitoba for the processing of spodumene from Donner Lake is well underway with the results of the engagement expected to be provided to Grid in October 2023. In conjunction with the Primero engagement a new metallurgical test program has commenced with XPS Expert Process Solutions laboratory in Falconbridge, Ontario. The results of the metallurgical test program will provide critical information to be incorporated in the design of a spodumene mill circuit at True North.

Dave Peck P.Geo. has reviewed and approved the contents of this press release for purposes of National Instrument 43-101.

About Grid Metals Corp.

Grid Metals is an exploration and development company focused on its lithium projects located in southeastern Manitoba. The Company currently holds a 75 % joint venture project interest in the Donner Lake Lithium Property and a 100% project interest in the Falcon West Lithium Project. Grid also has a portfolio of early to advanced stage base metal deposits in southeastern Manitoba.

On Behalf of the Board of Grid Metals Corp.

For more information about the Company, please see the Company website at www.gridmetalscorp.com or contact:

Robin Dunbar - President, CEO & Director - rd@gridmetalscorp.com
Brandon Smith - Chief Development Officer - bsmith@gridmetalscorp.com

David Black - Investor Relations - info@gridmetalscorp.com

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) (together, "forward-looking statements"). Such forward-looking statements include the Company's closing of the proposed financial transactions, sale of royalty and property interests. 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 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.sedar.com.

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.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements

SOURCE: Grid Metals Corp.