Grid Metals Corp. entered into an agreement to acquire 100% interest in Gossan Claims from Gossan Resources Limited for CAD 1.61 million on April 13, 2023. Grid Metals Corp.

has executed a purchase agreement with Gossan Resources Limited for a 100% interest in the Chrome, Page and Ore Fault claims collectively the Gossan Claims. The purchase price for the Gossan Claims is CAD 1.1 million in cash over three years (with CAD 0.5 million payable in first year) and 1.5 million common shares in the capital of Grid Metals Corp. (“Common Shares”). The Common Shares will be subject to an initial statutory hold period of four months and one day from closing of the transaction.

Thereafter, the Common Shares will be released from escrow in monthly tranches of 75,000 shares over twenty months. Grid Metals Corp. has granted Gossan Resources a 2% net smelter return royalty payable upon the commencement of commercial production from the property.

In addition, a CAD 0.3 million deferred cash payment is due to Gossan Resources upon the commencement of commercial production from the property. Grid Metals Corp. expects to close the transactions with Gossan Resources before April 21, 2023.