Mr. Jeremy Poirier reports

GRIT METALS CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Grit Metals has closed its non-brokered private placement for gross proceeds of $1,004,000.

In connection with closing of the offering, the company issued 10.04 million units at a price of 10 cents per unit for gross proceeds of $1,004,000. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire an additional common share of the company at a price of 25 cents until Jan. 15, 2028.

The company intends to use the net proceeds from the offering to advance development of its Pegmatite project in central Finland and for general working capital purposes.

In connection with completion of the offering, the company paid finders' fees of $50,880 and issued 714,000 non-transferable finders' warrants to certain arm's-length parties which introduced subscribers to the offering. The finders' warrants are exercisable on the same terms as the warrants. All securities issued in connection with the offering are subject to restrictions on resale until May 16, 2026, in accordance with applicable securities laws.

The offering included a subscription by an insider of the company in the amount of 500,000 units. Participation in the offering by an insider of the company constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The issuance of securities to insiders of the company is exempt from the valuation requirement and the minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, in that the fair market value of the consideration of the securities issued to the insiders of the company does not exceed 25 per cent of the company's market capitalization.

About Grit Metals Corp.

Grit Metals is a junior mining company currently focused on the lithium-cesium-tantalum Finnish pegmatite project in central Finland. Governing bodies in Europe and Finland are legislating environmentally friendly and energy independent laws and policies. One of the key components is access to rare earth elements and, specifically, lithium. The company's exploration licences are located within one kilometre of the Keliber mine and production complex, currently under construction and expected to begin production in second half 2025.

An estimated 600-million-euro investment by Keliber's parent company Sibanye-Stillwater Ltd. in partnership with the Finnish Minerals Group is under way in the Kautinen region, and will see the development of open-pit and underground mining from several deposits, construction of a central spodumene concentrator plant, and a lithium hydroxide chemical plant at tidewater in Kokkola. When completed, this complex will comprise a complete hardrock spodumene pegmatite lithium supply chain.

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