Grid Metals conducts aerial geophysical survey at Makwa

Executive Summary

• Grid Metals announced a grassroots surface discovery of semi‑massive nickel sulphide (up to 1.1 % Ni in grab samples) at the newly identified “Pavo” electromagnetic anomaly on its Makka Ni‑Cu‑PGE project in southeastern Manitoba.
• The Pavo anomaly, a ~600 m east‑west EM conductor trend, is now the priority drill target with drilling slated for fall 2025 pending permit approval.
• The discovery follows the December 2024 option and joint‑venture agreement with Teck Resources, which can earn up to a 70 % interest in Makka by spending C$15.7 M and paying C$1.6 M in cash/equity.

Key Details

• Discovery: Semi‑massive nickel sulphide mineralisation identified at surface; peak grab sample grade of 1.1 % Ni (additional Cu, Co, Pd, Pt, Au analyses performed).
• Anomaly Characteristics:
• Electromagnetic conductor trend (“Pavo”) ~600 m strike length, east‑west orientation.
• Identified from late‑2024 airborne EM survey; associated with a large magnetic anomaly suggesting extensive ultramafic host rocks.
• Exploration History:
• One day of field prospecting (Blaze showing) completed before forest‑fire restrictions; additional prospecting resumed after fire lift.
• Planned follow‑up deep‑penetrating ground time‑domain EM survey to refine drill targets.
• Drilling Plans:
• First drill program targeting Pavo scheduled for Fall 2025, contingent on receipt of exploration permits.
• Strategic Context:
• The target model mirrors the Eagle’s Nest deposit in Ontario’s Ring of Fire, a high‑grade magmatic Ni‑Cu‑PGE system owned by Wyloo Canada.
• Pavo lies within the footwall of the Bird River sill, a known host for Ni‑Cu‑PGE sulphides in the Bird River belt.
• Joint‑Venture with Teck:
• Option/JV agreement (Dec 2024) allows Teck to earn up to 70 % interest by incurring C$15.7 M of project expenditures and providing C$1.6 M in cash/equity (total potential commitment C$17.3 M).
• Quality Assurance/Control:
• Grab samples cleaned, bagged, tagged; shipped to Actlabs (Thunder Bay) for multi‑acid digestion and ICP‑OES analysis of base metals and fire‑assay for PGEs/Au.
• Certified reference materials and blanks used; results within acceptable analytical limits.
• Qualified Person: Dr. Dave Peck, P.Geo., Vice‑President Exploration (NI 43‑101 qualified).

Notable Quotes

“The new discovery of nickel‑rich magmatic massive sulphide mineralisation at Pavo is significant given its location in an interpreted feeder structure to the Bird River sill… The potential to participate with Teck in the discovery of an Eagle’s Nest‑type sulphide deposit is an exciting opportunity for Grid.” – Dr. Dave Peck, Vice‑President Exploration, Grid Metals Corp.