Grid Battery Metals Inc. announced that it has completed the first phase of its spring/summer exploration program at its Clayton Valley Lithium Property near Silver Peak, Nevada, which includes a detailed infill soil sampling program and a previously announced MT geophysical survey. At the Clayton Valley Lithium Project, the Company contracted the services of Rangefront Geological ("Rangefront") to perform both a detailed infill soil sampling of the southern section of the claim block and to oversee a Magnetotelluric ("MT") geophysical survey to obtain information about subsurface resistivity and geology performed by KLM Geoscience LLC ("KLM") over the entire property. The infill soil sampling exploration work has now been completed and samples have been transported to the assay lab pending results.

Together these geological techniques should help predict geological structure and possible locations for 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. This current work associated with the first phase of the 2024 exploration plan compliments prior exploration work on the Clayton Valley Lithium Project which includes a soil sampling program over the entire property and an initial prior drilling program consisting of three reverse circulation holes totaling 356 meters (1155 feet).

The holes were intended to test the presence of lithium bearing clay members of the lakebed sediments. Drillhole RCV-01, drilled to a depth of 130m (425 feet), was designed to twin a geothermal gradient hole drilled by a previous explorer. Results of this hole correlated with the log of the previous hole including intervals of volcanic ash and dark green clay.

Hole RCV-02, located approximately 1260 meters north of RCV-01 was drilled to a depth of 135.6m (445 ft) and penetrated a section consisting primarily of rhyolitic volcanic ash and interbedded sediments. It penetrated a 4.5-meter section of dark green clay before entering the metamorphic alluvium. Poor drilling conditions and high-water flows ended the hole before reaching the target depth but after successfully evaluating the lake sediment section.

Hole RCV-03, located 3,890m (12,762 ft) north from Hole RCV-01, was designed to look for a perched section of volcanoclastic sediments beneath an alluvial fan. Previous water well logs indicated a layer of clay, ash, and silt beneath the alluvium and above the bedrock. Apparently, this hole was located too close to the pediment and encountered metamorphosed dolomite at a depth of 56 meters (185 feet) and about the projected elevation of the sedimentary section.

The hole lost circulation in an apparent karst horizon at 68.5 meters (225 feet) and was terminated at 79.2 meters (260 ft) without regaining sample return.