Grid Metals updates Makwa nickel-copper-PGE project

TORONTO, ON / ACCESS Newswire / June 9, 2026 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ("Grid" or the "Company") is pleased to provide an update at its Makwa Ni-Cu-PGE project in southeastern Manitoba which is subject to an Option and Joint Venture Agreement (the "Agreement") with Teck Resources Limited ("Teck") that was announced in December 2024. Under the terms of the Agreement, Teck can earn up to a 70% project interest by incurring $15.7 million in work expenditures and making $1.6 million in cash payments to Grid (of which $1 million can be completed through a subscription of shares at Teck's election). The Agreement defines cumulative exploration expenditures of $3.7M due by May 31, 2027.

To May 31, 2026, Teck has incurred expenditures of >$2M, including all committed expenditures. The target model is a footwall-hosted Ni-Cu-PGE deposit similar to the Eagle's Nest deposit 1 located in Ontario's 'Ring of Fire' mineral district. Highlights Results from drilling completed in Q4 2025 at the Pavo Anomaly at Makwa intersected several narrow intervals of massive, semi-massive and net-textured magmatic sulphide mineralization over a strike length of ~250 metres and to a depth of ~150 metres.

A deeper electromagnetic ("EM") anomaly at Pavo ("Pavo Deep") was identified from borehole geophysics and has yet to be tested. Pavo Deep is located within the interpreted main feeder structure on the Property, and the target is modelled as having higher nickel tenors based on geochemical vectors derived from drill core assays. In Q1 2026, ground EM was completed over the Ore Fault deposit 2 which identified a significant EM anomaly modelled as two highly conductive plates with significant depth extent of at least 300 to 400 metres.

Only two historical drill holes have tested the modelled east/west striking plate on the outermost edge while no historical drilling has pierced the deeper north/south striking pl