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Grid Battery Metals Announces the Geophysics Results from Phase 1 of its Exploration Plan at the Texas Springs Nevada Lithium Project 

Coquitlam, BC – December 8, 2023- Grid Battery Metals Inc. (the “Company” or “Grid Battery”) (TSXV: CELL, OTCQB: EVKRF, FRA: NMK2) announces the completed geophysics results from the first phase of its fall exploration program at its Texas Springs Property near Elko Nevada. 

Texas Spring Nevada Lithium Property 

Phase 1 Exploration Program Recap

At the Texas Springs Lithium Project, the Company contracted the services of Rangefront Geological (“Rangefront”) to perform both a detailed soil sampling on a 50 m X 100 m spacing and to oversee a CSAMT geophysical survey performed by KLM Geoscience.  The CSAMT survey is a method for obtaining information about subsurface resistivity and geology, which can help predict geological structure and interfaces of potentially lithium bearing geologic units, while the detailed surface sampling will allow us to determine lithium values at surface.

Together these geological techniques should help predict geological structure and possible locations of historic lithium accumulation.  This is part of a methodical and systematic approach to high quality mineral exploration for this highly sought after metal in Nevada and will assist the Company in determining next steps for the overall exploration plan, including but not limited to a subsequent drilling program.

Soil Sample Grid Completed

CSAMT Geophysical Survey Results 

While the results from the associated soil sampling program are expected next week once our geological team completes their review of the data, the results from the CSAMT geophysical survey are as follows:

Mr. Seth Cude, P.G., Grid’s Qualified Person comments on the results of the program “The CSAMT survey shows several near horizontal to gently dipping subsurface horizons which may have served as paleo accumulation basins, collecting lithium bearing clays. Tieng these subsurface structures to the surface soil analysis will provide excellent drilling targets”.

Tim Fernback, Grid President & CEO comments “Rangefront is a company that our geological team members have used several times in the past for lithium exploration work in Nevada for both Grid and other companies that we have managed in the past, including Surge Battery Metals, and Fuse Battery Metals.  Geophysical surveys and soil sampling is part of a methodical and systematic approach to high quality mineral exploration for claystone lithium deposits in Nevada and will allow us to select drill targets for subsequent exploration programs in the future. “

Texas Spring Property Location

Of note, the Texas Springs Lithium Property adjoins the southern border of the Nevada North Lithium Project – owned by Surge Battery Metals Inc. (“Surge”) (TSXV: NILI, OTC: NILIF). Surge’s first round of drilling identified strongly mineralized lithium bearing clays. The average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm.   On September 12, 2023, Surge announced some exciting results of its most recent drilling program at this property, and recorded its highest grades to date, with up to 8070 ppm Lithium on the Northern Nevada Lithium project.  These results were followed up on December 5, 2023 with a subsequent drill program yielding core drilling intercepts with assays over 7,630 ppm and multiple horizons upon deeper drilling performed.

Tim Fernback, Grid President & CEO comments “Now that the CSAMT geophysical survey is complete at Texas Springs, and once we analyze the results from the assay lab on our detailed soil sampling in the area, we will gather as a group to interpret the geological data and plan our next steps at Texas Springs for the upcoming 2024 exploration season.”

About Rangefront Geological

Elko Nevada-based Rangefront Geological has combined in-depth expertise with cutting-edge technology to provide mining consulting services, contract labor, field crew services, and vehicular support to the mining industry.  With services available across North America, Rangefront works closely with its clients to provide high-quality mineral exploration services.

Qualified Person

Mr. Seth Cude, P.G. is a Qualified Person as defined by National Instrument 43-101 and has approved the technical information contained within this news release.

About Grid Battery Metals Inc. 

Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange.  The Company’s maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.  www.gridbatterymetals.com.

About Texas Springs Property

The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Humbolt Formation.

The Texas Spring property adjoins the southern border of the Nevada North Lithium Project – owned by Surge Battery Metals Inc. (“Surge”) (TSXV: NILI, OTC: NILIF) and comprised of 303 mineral claims.  Surge’s first round of drilling identified strongly mineralized lithium bearing clays. The average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023).  More recent results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press release September 12, 2023).

About Clayton Valley Lithium Project

The Company owns a 100% interest in 113 lithium lode and placer claims covering over 640 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone.  As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events.  These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley.   

Volt Canyon Lithium Property

The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.

About the British Columbia, Nickel Projects

The Mount Sidney Williams Group consists of three claim blocks with a total area of 10,569 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs as awaruite.  The Mitchell Range Group area claim consists of one claim block covering 8,659 hectares with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel cobalt mineralization has not been well explored, but the presence of awaruite has been documented. 

On Behalf of the Board of Directors

“Tim Fernback”

Tim Fernback, President & CEO

Contact Information:

Email: info@gridbatterymetals.com

Phone: 604- 428-5690

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

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