Grid Metals Corp. Announces Exploration Programs Underway

The November 11, 2025, news release provides a corporate update following the recent successful financing. The key points are: - A cesium-focused drill program has commenced at the Falcon West project in Manitoba. The program will consist of a minimum of 40 drill holes targeting the near-surface Lucy cesium zone. - At the Makwa Ni-Cu-PGE project, which is under an option and joint venture agreement with Teck Resources, a drill rig has been mobilized to the site to test the Pavo Anomaly. This program is funded by Teck. - The company has granted 7,200,000 stock options to directors, management, employees, and consultants. The options have an exercise price of CAD $0.15. - The release confirms the successful closing of the previously announced CAD $4,027,158 financing.

The news is a positive and necessary update, but it is routine in nature. The truly material event was the announcement and closing of the CAD $4.0 million strategic financing in October 2025. That financing was a game-changer, moving the company from a precarious financial position (negative working capital as of March 31, 2025) to being well-funded for its exploration objectives.

This latest news confirms that the company is immediately deploying the raised capital as promised. - Execution: Commencing drilling at Falcon West and mobilizing the rig for the Teck-funded program at Makwa demonstrates strong operational execution. It removes uncertainty about the timeline and shows management is focused on delivering results. - Dual Catalysts: The update confirms that two significant and distinct exploration programs are now running in parallel. This provides shareholders with two major potential catalysts in the near term: cesium results from Falcon West and nickel-copper-PGE results from Makwa. - Insider Confidence: The option grant at $0.15, which is above the $0.12 financing price, signals confidence from the board in the company's prospects.

While positive, the news does not introduce new information that would fundamentally re-rate the stock; rather, it confirms the previously outlined plan is underway. The market had already priced in the expectation that this work would commence following the financing. Therefore, the impact is routine but reinforces the positive investment thesis.

Grid Metals Corp. is a Canadian-based exploration company focused on critical metals in southeastern Manitoba. The company has a portfolio of projects targeting nickel, copper, platinum group elements (PGEs), and cesium. The company has two flagship initiatives:

1. Makwa Ni-Cu-PGE Project: This project is being advanced under an option and joint venture agreement with major miner Teck Resources. Teck can earn up to a 70% interest by funding CAD $17.3 million in expenditures and payments. The current focus is on discovering high-grade massive sulphide deposits, with Teck funding the current drill program.
2. Cesium Exploration (Falcon West & Donner): Grid is exploring for cesium, a rare and strategic metal. The Falcon West project, which has historical high-grade drill intercepts, is 100% owned and is the focus of the current drill program. The Donner property has a cesium supply and financing agreement with Tantalum Mining Corp. of Canada (Tanco), the only cesium producer in the Western world.