Grid Metals and Boliden Enter $10 Million Partnership to Develop Thompson East Project

Grid Metals Corp. has formed a definitive agreement with Boliden Mineral Canada Ltd., a subsidiary of Boliden Group, to explore and develop the Thompson East copper/nickel project in northern Manitoba. Through this agreement, Boliden has the option to earn an 80% interest in the project by investing at least CAD$9.6 million and providing CAD$500,000 in staged cash payments to Grid. The objective is to identify a significant magmatic copper-nickel-PGM-cobalt deposit. This collaboration highlights Manitoba’s appeal as a mining jurisdiction.

The agreement is pending TSX Venture Exchange approval and involves two existing mineral exploration licences totaling 10,600 hectares. Boliden may extend expenditures if additional mineral rights are incorporated. Grid will manage initial exploration, and a joint venture will form upon option exercise.