Grid Metals Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Developing a Critical Minerals Hub in Southeastern Manitoba, Canada

Grid Metals is focused on becoming one of the next fully permitted lithium operations in North America while advancing its copper/nickel project.

Investment Highlights

Positioning Donner Lake for a Rebound in Lithium Prices

• Submitting mining permit and completing economic study in 2025 to make Donner one of the next fully permitted lithium projects in North America.
• Utilizing existing infrastructure in order to dramatically reduce capex and shorten permitting timeline.
• Establishing the infrastructure base to support development of lithium and the adjacent copper/nickel property (Makwa Mayville).

High Potential Belt-Scale Copper/Nickel Project with Significant Resource

• The Makwa Mayville (MM) Project has an open pit resource of 46.2 million tonnes (Indicated) containing 317 million pounds of copper, 263 million pounds of nickel and 452,000 ounces of combined palladium, platinum and gold. (See news release dated May 6, 2024)
• Commencing resource exploration drilling to support mine development.

Near-Term Catalysts Provide Re-Rate Potential

• Updated copper/nickel resource in the next 1-2 months
• Exploration results from both lithium and copper/nickel drilling
• Advancement of project towards permitted status

Projects in Hand

Lithium Projects

Donner Lake Project

• 75%-owned project near existing infrastructure, located in the Bird River greenstone belt in southeastern Manitoba.
• The Project contains a maiden NI 43-101 compliant resource (July 2023) of 6.81 million tonnes (“MMt”) (Inferred) grading 1.39% Li2O that is open for expansion.
• The resource estimate from the Main Dyke and Northwest Dyke consists of:
• 2.10 MMt grading 1.42% Li2O of open pit resources (cut-off grade of 0.3% Li2O) and
• 4.71 MMt grading 1.37% Li2O of underground resources (cut-off grade of 0.5% Li2O).
• Excellent lithium recoveries in test work of ~70% using flotation (See news release dated October 25, 2023)
• Grid Metals is targeting the reconfiguration of the True North Mill to produce ~75,000 tpa of spodumene concentrate using a low capital intensity approach.
• Grid Metals has a lease agreement on the True North mill where it plans to process feed from Donner Lake.
• In October 2022, Grid Metals signed a Memorandum of Understanding (MOU) with Tantalum Mining Corporation of Canada Limited (Tanco) who operates the nearby producing Tanco Mine. (See news release dated October 17, 2022)
• Targeting completion of economic study and fully permitted status in 2025
• Leveraging existing infrastructure for processing and tailings to shorten the permitting timeline versus a greenfield operation (~3-5 years quicker to production).
• Preliminary Economic Assessment (PEA) is underway along with permitting activities.

Falcon West Project

• 100%-owned by Grid Metals; Excellent location and access
• Grid Metals controls mineral rights over the majority of the next prospective greenstone belt (the West Hawk Lake Greenstone Belt) situated south of the world class Tanco Mine (reserves of 6.6 MMt grading 2.7% Li2O in 1996).
• Highly prospective geological terrain with historical assays including 1.8% Li2O over 12.3 m and 2.2% Li2O over 12.2 m.
• Opportunity for near-surface resource
• The Company commenced drill program in January 2024, targeting the extension of known mineralized zones and the initial definition of mineralization along strike and at depth at the two known mineralized occurrences – the Lucy and the ArtDon targets. The two target areas are approximately one kilometer apart.

Advanced Nickel/Copper Project

Makwa Mayville (MM) Project

• The MM copper/nickel project is a resource-stage project that is undergoing exploration and development work in the Bird River greenstone belt.
• The Makwa and Mayville magmatic sulfide deposits encompass a cumulative open pit resource of 46.2 million tonnes (Indicated) containing 317 million pounds of copper, 263 million pounds of nickel and 452,000 ounces of combined palladium, platinum and gold. (See news release dated May 6, 2024)
• Mayville is copper dominant and Makwa is nickel dominant with platinum group metal credits.
• Historical production (1970s) at Makwa
• Very high metal tenors in both the Makwa and Mayville deposits support highly favourable metallurgical recoveries & concentrate grades
• In terms of potential scale and mix of metal grades, Makwa Mayville’s closest analogue is the highly profitable, low-cost open pit Kevitsa Mine in Finland (Boliden) – an example of a polymetallic magmatic sulfide deposit.
• Mayville is located immediately adjacent to the Donner Lake Lithium Project and is accessible by the same road network.
• Donner Lake, Mayville and Makwa are located in the traditional territory of the Sagkeeng First Nation with whom Grid Metals signed an Exploration Agreement in April 2021.
• See www.gridmetalscorp.com for details of MM mineral resource estimate

Management

Management and Directors

Robin Dunbar, MBA, President, CEO, and Director

Over 20 years of experience in nickel and platinum group metals exploration and management

Current director of McEwen Mining and was a Director of Western Areas Ltd. (ASX: WSA)

Dr. Dave Peck, Ph.D (Geo.), VP Exploration and Business Development

Former VP Exploration for North American Palladium Ltd. prior to acquisition by Impala Platinum

Former Global Nickel Commodity Leader for Anglo American PLC’s Nickel Exploration Division

Brandon Smith, CFA, MFE, Chief Development Officer

Over 12 years of experience in capital markets

Former lead equity research analyst covering battery metals developers at Cormark Securities Inc.

Douglas Harris, Chief Financial Officer

Chartered Accountant and a Chartered Business Valuator

Over 20 years of experience in the financial services sector

MBA from Rotman School of Management at the University of Toronto

Carey Galeschuk, Consulting Geologist

Lithium geologist with experience in pegmatites

Worked at Tanco for more than 10 years

Author of academic papers concerning lithium exploration

Tom Meredith, Director

30 years experience in the junior mining industry

Chairman of West Red Lake Gold Mines

Former President and CEO of Lexam VG Gold

Ted Munden, Director

Professional geological engineer with an MBA

Held positions in the energy, mining, manufacturing and technology industries for more than 35 years

Patrick Murphy, Director

Managing director at the specialist natural resources group AMCI

Experienced mining investment professional

Holds board positions for several AMCI companies including producing mines and lithium explorer Green Technology Metals (ASX:GT1)

Grant McAdam, Director

Investment analyst at Waratah Capital Advisors since 2019

News Update

On March 13, 2025, Grid Metals Corp. has provided a corporate update, including the appointment of a new chief financial officer and the completion of an updated transaction with revised terms resulting in an improved working capital position. The company remains focused on its high-potential critical metal projects in southeastern Manitoba, including recently announced transactions with Tantalum Mining Corp. of Canada Ltd. (for cesium) and with Teck Resources Ltd. (nickel, copper and platinum group metals).

Robin Dunbar, Grid's chief executive officer and president, stated: "In the past several months, we have completed two significant transactions with key industry leaders (Teck Resources and Tanco) focused on key critical metals. Looking ahead, we will have multiple high-potential exploration programs under way in 2025. Our priority projects are geographically focused in southeast Manitoba and provide multicommodity optionality. We look forward to further positive developments being generated from these projects as we continue down the path to developing a critical metals production hub in the region."

On February 25, 2025, Grid Metals Corp. has started the cesium drill program at the high-grade dike at the Donner lithium/cesium property in southeastern Manitoba. Grid has also received the initial prepayment advance of $300,000 from Tanco as a part of the cesium supply agreement to finance the continuing drill program (see press release from Feb. 18, 2025, for more information).

In addition, Grid would like to cordially invite its shareholders and other stakeholders to visit the company at booth No. 2122 in the investors exchange exhibition room at the Prospectors and Developers Association of Canada (PDAC) Convention. PDAC, regarded as one of the world's premier resources conferences, will run from Sunday, March 2, 2025, until Wednesday, March 5, 2025, at the Metro Toronto Convention Centre in Ontario, Canada.

On February 18, 2025, Grid Metals Corp. has signed a cesium supply agreement with the Tantalum Mining Corporation of Canada Ltd. The agreement provides financing for Grid to drill for cesium at its Donner property. If sufficient resources are delineated by drilling, the agreement provides access for 10,000 tonnes of Grid's cesium material to be processed at the Tanco cesium plant, which is the only cesium processing plant in the Western world. The agreement is a unique opportunity for Grid to kick-start exploration and potentially development for cesium -- a rare critical metal.

The drill target at Donner is the high-grade dike, which is a highly fractionated pegmatite dike with documented high-grade cesium values in the mineral pollucite. The HG dike is located approximately 35 kilometres from the Tanco cesium plant at Bernic Lake.

Robin Dunbar, Grid's chief executive officer and president, stated: "Consistent with our focus on our Bird River property portfolio and partnering with industry leaders, we are excited to announce this agreement with Tanco, the world's leading producer of cesium products. This agreement provides the foundation to kick-start cesium exploration with the objective of near-term cash flow generation through toll milling. Our proximity to the only cesium operation in the Western world is a unique feature of the Tanco collaboration. We note that we have a second cesium property (Falcon West), where we have obtained significant cesium results in drilling, including 3.3 m at 10.3 per cent Cs2O and 3.2 m at 4.6 per cent Cs2O."

On January 17, 2025, Grid Metals Corp. has received TSX Venture Exchange approval of its definitive option and joint venture agreement with Teck Resources Ltd. Grid has also received the $400,000 minimum cash payment that was due from Teck by Jan. 31, 2025, as required under the agreement (see the press release from Dec. 12, 2024, for more information).

In addition, Grid would like to cordially invite you to visit the company at booth No. 622 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Pl., Vancouver) on Sunday, Jan. 19, 2025, and Monday, Jan. 20, 2025.

On January 09, 2025, The TSX Venture Exchange has accepted for filing documentation relating to an option and joint venture agreement dated Dec. 9, 2024, between Grid Metals Corp. and an arm's-length party, Teck Resources Ltd. Pursuant to the terms of the agreement, Teck has a two-stage option to acquire up to a 70-per-cent interest in Makwa nickel project, located in southeastern Manitoba, Canada. Teck may exercise the first option to acquire up to a 51-per-cent interest in the property by making an aggregate of $600,000 in cash payments, including a firm commitment of $400,000, and incurring an aggregate of $5.7-million in exploration expenditures on or before May 31, 2028. If Teck exercises the first option, Teck will have a further sole and exclusive option to acquire an additional 19-per-cent interest in the property by incurring a further $10-million in exploration expenditures over a period of three years commencing on the date of the first option exercise notice and making a payment of $1-million in cash or, at Teck's election and subject to TSX Venture Exchange approval, through a subscription for the company's shares.

If a party's interest in the property is diluted below 10 per cent, its interest would be converted to a 1.5-per-cent net smelter return (NSR) royalty on the property, of which a 0.75-per-cent royalty could be bought back by the royalty payor at any time for a cash payment of $2-million.

On December 12, 2024, Grid Metals Corp. announced that it has executed a definitive option and joint venture agreement (the "Agreement") with Teck Resources Limited ("Teck"), a leading Canadian resource company, to explore and develop the Mawka nickel project ("Makwa" or the "Project") in southeastern Manitoba, Canada. The Makwa nickel project sits on the southern arm of the Bird River Greenstone Belt approximately 145 km from Winnipeg, the provincial capital. The focus of the Agreement will be the discovery of a Tier 1 magmatic nickel-copper-PGM-cobalt deposit at Makwa. Grid will maintain its 100% interest and exploration program at Mayville Cu-Ni Property located 30km to the north of Makwa.

The Agreement grants Teck a two-stage option to acquire up to a 70% interest in Makwa by funding cumulative expenditures of CAD$15,700,000 and making staged cash payments of CAD$1,600,000 to Grid (of which CAD$1,000,000 can be completed through a subscription of shares at Teck's election). Teck's minimum commitment under the agreement is the initial CAD$400,000 cash payment. Following completion of additional geophysical surveying, Teck would be committed to funding CAD$450,000 of minimum expenditures. The Agreement is subject to TSX-V approval.

Robin Dunbar, P. Geo., Grid's CEO & President, stated, "We are pleased to announce a definitive agreement with Teck, a leading Canadian resource company focused on responsibly providing the metals essential to economic development and the energy transition. Teck's significant technical and operational know-how will be of immediate benefit to the Makwa nickel project. Having Teck involved in the Project will provide financial support and added technical expertise to give our shareholders the maximum opportunity to participate in a Tier 1 nickel discovery."

On December 02, 2024, Grid Metals Corp. announced the positive drill results from the first six drill holes of its maiden drill program at the Eagle gabbro, located within the MM copper/nickel project in southeastern Manitoba. The goal of the current drill program is to test for the existence, grade, and potential for lateral continuity of near-surface, copper-rich magmatic mineralization within the 4 km target trend. The initial drilling intersected an outcropping, moderately to steeply dipping zone of copper-rich magmatic sulfide mineralization averaging 20-30metres in width at two separate areas located 400 m apart at the southern end of the target trend. The zone remains open along strike and at depth. It Intersects 44 m at 0.93% CuEq, Including 25 m at 1.47% CuEq, in First Drill Holes at Eagle Gabbro.

Dr. Dave Peck, P. Geo., Grid's Vice President of Exploration, stated "Grid has embarked on an ambitious drill program targeting the 4 km-long Eagle gabbro with the dual objectives of establishing the existence, grade and potential continuity of near-surface disseminated sulfide Cu/Ni mineralization and discovering localized, higher-grade massive Cu-Ni sulfide deposits.

On November 04, 2024, Grid Metals Corp. has released the results of voting at the annual and special meeting of the company held on Oct. 28, 2024.

Election of directors - The number of directors of the company was set at five and the following directors were elected at the meeting: Robin E. Dunbar, Thomas W. Meredith, Constantine Karayannopoulos, Patrick Murphy and Grant McAdam.

On October 17, 2024, Grid Metals Corp. has received exploration permits and has begun its maiden drill program at the Eagle gabbro, located within the MM copper-nickel project in southeastern Manitoba. The Eagle gabbro is located at the eastern end of the greater-than-20-kilometre-long Mayville-Eagle complex -- host to the company's 32-million-tonne Mayville copper-nickel-platinum-group-metal deposit. Highlights:

• Drilling will begin at the historical New Manitoba deposit area, located at the southeastern end of the Eagle gabbro, which has seen very limited exploration subsequent to drilling in the 1950s.
• In tandem with the drill program, ground induced polarization and two deep-penetrating, high-resolution airborne magnetic-electromagnetic surveys will also be completed.
• Grid is fully financed to complete the Eagle drill program and geophysical surveys. Initial assays are expected to be received by mid-November.

Robin Dunbar, Grid's chief executive officer and president, stated: "We are pleased to see the drill rig turning at the prospective Eagle gabbro trend, where we see the potential to outline copper-dominant mineralization in several areas over the greater than four km target trend being tested. The Eagle gabbro sits entirely outside of our current 32-million-tonne indicated open-pit resource at Mayville and provides additional resource upside for the MM project. We are looking forward to assays returning early next month and will update the market accordingly."

On October 03, 2024, Grid Metals Corp. provided the results from its ongoing exploration program at its MM copper/nickel project located in southeastern Manitoba. The program has recently been focused on the Eagle Gabbro - host to the historical New Manitoba Cu-Ni sulfide deposit that was acquired by Grid last year. The Company is preparing to commence its inaugural exploration drilling program at Eagle as well as a new round of ground and airborne geophysical surveys over the entirety of its highly prospective Mayville East - Eagle target area. Highlights:

• Surface copper/nickel mineralization confirmed in numerous outcrops over a ~4 km long target trend associated with a gabbroic intrusive known as the 'Eagle gabbro.' The Eagle gabbro is located at the eastern end of the >20 km long Mayville-Eagle complex - host to the Company's 32.0 Mt Mayville Cu-Ni (PGM) deposit1. Mineralization from twelve bedrock grab samples collected during the current field campaign returned copper grades in the range 0.5-1.3% with associated nickel, cobalt and precious metal values.
• Mineralization discovered to date is associated with a prominent magnetic anomaly.
• Drilling is expected to commence this Fall following receipt of exploration permits and the program is fully-funded.
• A large airborne magnetic-EM survey is planned for the highly prospective eastern part of the Mayville-Eagle complex, including the Eagle gabbro target area.
• A ground IP orientation survey is also planned to cover the best exposed, well-mineralized segments of the Eagle gabbro.
• The initial area of drilling is planned for the New Manitoba deposit2 located at the southeast end of the Eagle gabbro. This part of the property was acquired in 2023 and has seen very limited exploration subsequent to drilling in the 1950s.

Dr. Dave Peck, P. Geo., Grid's Vice President of Exploration, stated "Our consolidation of the major copper/nickel deposits and occurrences within the Bird River greenstone belt, completed last year, has provided the first opportunity for any Company to apply modern exploration methods and concepts to the discovery of new massive and disseminated magmatic sulfide resources on all of the prospective ground in this extremely well-endowed mineral belt. Our field review and compilation work has shown the that Eagle gabbro, part of the ~20 km long Mayville-Eagle Complex located in the northeast part of the belt, is a prime initial target area for delineating additional Mayville-style, near surface, copper-dominant magmatic sulfide mineralization."

On August 13, 2024, Grid Metals Corp. is providing an update for its Donner lithium and MM copper-nickel projects which are located in southeastern Manitoba. The company has made significant progress with its permitting initiatives at Donner and is preparing to resume drilling at its MM copper-nickel project this fall. The new drill campaign will focus on a largely untested roughly four-kilometre-long outcropping trend of copper-rich magmatic sulphide mineralization that includes the historical New Manitoba deposit that was acquired by Grid in 2023. MM and Donner are both located on the northern part of the Bird River greenstone belt 150 km northeast of Winnipeg, Man. Donner lithium property highlights.

Grid has received notice from the Mines Branch of Manitoba regarding its advanced exploration permit (AEP) for the Donner lithium project that the permit has been approved subject to the posting of a reclamation bond by Grid. The permit application was co-ordinated with and supported by the Sagkeeng First Nation in whose ancestral territory the Donner project is located. Grid agreed to co-ordinate with SFN on environmental mitigation measures and economic benefits relating to the permit activities.

As lithium prices have further declined in 2024 the company does not plan to immediately proceed with the bulk sample outlined in the AEP. Grid will keep the market informed on the timing of the bulk sample and finalization of the AEP for Donner which is expected to be reinitiated with the occurrence of higher lithium prices.

Grid has reduced its near-term financial payments for the lease of the True North mill in Bissett for the processing of lithium spodumene material from Donner. The company most recently made a $100,000 payment with the next payment ($200,000) scheduled for the end of 2024.

On June 24, 2024, Grid Metals Corp. has filed on SEDAR the technical report for the updated mineral resource estimate (MRE) for its copper/nickel MM project (Makwa Mayville project) in southeastern Manitoba, prepared in accordance with CIM (2019) best practice guidelines.

The MM Project resource comprises two separate deposits, located approximately 35 km apart, and approximately 145 kilometres from Winnipeg, the capital of Manitoba. Makwa is a nickel dominant resource with palladium, platinum and copper credits while Mayville is a copper dominant deposit with significant nickel content as well as platinum group metals. Contained metal content in the indicated open pit category includes 317 million pounds of copper, 263 million pounds of nickel and 452,000 ounces of precious metals ( palladium, platinum and gold).

Exploration Drilling Planned - The Company has applied for exploration drill permits in order to enable exploration drilling at the Mayville Property in the area of and along strike of the historical New Manitoba deposit - one of three deposits acquired in the MM Project area which are not part of the current resource. Historical drilling at the New Manitoba yielded copper-nickel-cobalt mineralization with similar metal ratios to that of the Mayville Deposit, also located along the northern arm of the Bird River Greenstone Belt. The exploration program will be financed by existing working capital of the Company and is scheduled to commence during the third quarter of 2024.

May 6, 2024, Grid Metals Announces Indicated Open-Pit Mineral Resource of 46.2 Million Tonnes at MM Copper/Nickel Project in Southeastern Manitoba

Contained metal content in the indicated open pit category includes 317 million pounds of copper, 263 million pounds of nickel and 452,000 ounces of combined palladium, platinum and gold.

https://gridmetalscorp.com/news/grid-metals-announces-indicated-open-pit-mineral-resource-of-46.2-million-tonnes-at-mm-copper-nickel-project-in-southeastern/

April 29, 2024, Grid Metals Intersects High-Grade Lithium Values Including 4.7% Li2O at Maiden Falcon West Drill Program

https://gridmetalscorp.com/news/grid-metals-intersects-high-grade-lithium-values-including-4.7-li-o-at-maiden-falcon-west-drill-program/

April 18, 2024, Grid Metals Corp. has released drill results from its January to March, 2024, drill program at the Donner Lake lithium project in southeastern Manitoba, Canada.

Drill Highlights

The two drill holes at the Main Dyke intersected the spodumene-bearing Main Dyke approximately 125 meters beneath the previously deepest drill holes. Both holes were drilled to test the potential for extending the existing underground resources at depth. Grid Metals plans to proceed with a fully-funded summer drill program comprising ~10 additional resource extension drill holes.

All of the 12 infill drill holes at the Northwest Dyke intersected spodumene-bearing pegmatite that returned lithium grades and intersection lengths in line with previous resource delineation drill holes completed in 2022 and 2023. Overall, the Company expects this drilling to enable an upgrade to the resource category at the Northwest Dyke.

• GDL24-01: 6.9 m at 1.28% Li2O (Main Dyke extension drilling)
• GDL24-03: 3.2 m at 1.56% Li2O and 2.3 m at 1.50% Li2O (Main Dyke extension drilling)
• GDL24-07: 6.7 m at 1.85% Li2O (Northwest Dyke infill drilling)
• GDL24-09: 11.5 m at 1.25% Li2O (Northwest Dyke infill drilling)
• GDL24-10: 7.8 m at 1.50% Li2O (Northwest Dyke infill drilling)
• GDL24-13: 7.4 m at 1.62% Li2O (Northwest Dyke infill drilling)

  Disclaimer

Copyright (c) 2000 - 2025 Chinese Investment Club Inc.
All Right Reserved. Do not duplicate or redistributed in any form.
版權所有, 未經同意, 不得以任何形式轉載或翻印