Grid Metals commissions resource estimate at Falcon West
TORONTO, ON / ACCESS Newswire / August 6, 2026 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ("Grid" or the "Company") is pleased to announce that it is proceeding with a maiden cesium and lithium mineral resource estimate ("MRE") for the Lucy South pegmatite at its Falcon West Property (the "Property") in southeastern Manitoba. The Property is subject to a joint venture between Grid Metals and Avenir Minerals Limited ("Avenir"). SGS Canada Inc. has been engaged to complete the mineral resource estimate in compliance with National Instrument 43-101. The results of the estimate are expected to be announced this fall. Final assays from the winter 2025/26 Lucy South resource delineation drill program are also contained below.
On July 31, 2026, Grid announced TSX Venture approval of a definitive joint venture agreement with Avenir where Grid sold 15% of the Falcon West Property to Avenir for C$3,750,000. Following the announcement of a mineral resource estimate, Avenir will have the right to subscribe for up to 19.99% of Grid's common shares (up from its current 9.9% shareholding). Avenir also has the right to acquire an additional 15% interest (for a total of 30%) in the Property upon the completion of a Preliminary Economic Assessment or adoption of a mine plan.
Mineral Resource Estimate
The Company has engaged SGS Canada Inc. to prepare a mineral resource estimate for the Lucy South pegmatite and to complete a technical report in support of the estimate prepared in compliance with National Instrument 43-101 and the Canadian Institute of Mining's guidelines for mineral resource estimation. SGS has extensive experience in resource estimation across multiple ore types and commodities. The mineral resource will be based upon Grid's recent drilling results for the Lucy South pegmatite.