BULLETIN V2026-1626
GRID METALS CORP. ("GRDM")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: May 7, 2026
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation pertaining to an arm's-length option and joint venture agreement (the "Agreement"), between Grid Metals Corp. (the "Company") and an arm's length party: Boliden Mineral Canada Ltd. (the "Optionee"). Pursuant to the Agreement, the Optionee will have the option to acquire up to 80% interest in Company's Thompson East copper/nickel project (the "Project") consisting of two existing mineral exploration licences, located in northern Manitoba (the "Option").
In order to exercise the Option, the Optionee must: (i) pay the Company an aggregate cash consideration of $500,000 over a 4-year period (the "Option Term"); and (ii) incur an aggregate of CAD$9,600,000 in exploration expenditures over the Option Term.
Following the exercise of the Option, the Company and the Optionee will enter into a 20/80 joint venture (the "JV") for the exploration and development of the Project. Thereafter, if a party's interest in the Project is diluted below 10%, its interest would be converted to a 1.0% Net Smelter Return royalty ("NSR"), of which 50% (0.5%) of the NSR can be bought back by the royalty payor for a cash payment of $1,000,000.
Further to the Option, the Optionee will also have an option to incorporate additional mineral rights adjacent to the existing two mineral exploration licences. If the Optionee elects to incorporate these additional mineral rights, the Purchaser will be required to make additional funding commitments of up to $672 in expenditures and up to $14 in cash payments per retained hectare during the third and fourth annual programs.
For further details, please refer to the Company's news release dated April 15, 2026 and May 5, 2026.
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