Ben Davies earned Shrewsbury their sixth draw in seven games to keep them in the play-off spots and leave Grimsby still a point above the bottom two.
Barry Conlon put Grimsby ahead after Graham Coughlan had cleared James Hunt's shot off the line.
But the lead lasted only three minutes after Davies bagged his 13th of the campaign from a Steve Leslie cross.
Grimsby failed at the last to claim victory when Chris Llewellyn headed wide from point-blank range.
Shrewsbury:
Daniels, Darren Moss (Herd 80), Coughlan, Langmead, Ashton, Humphrey, Dunfield (Leslie 57), Murray, Davies, Worrall (Ashikodi 58), Holt.
Subs Not Used: Chadwick, Cansdell-Sherriff.
Booked: Murray.
Goals: Davies 58.
Grimsby: Henderson, Stockdale, Bennett, Atkinson, Widdowson, Llewellyn (Jarman 78), Hunt, Sweeney, Hegarty, Conlon, Akpa Akpro.
Subs Not Used: Lund, Heywood, Proudlock, Forbes.
Booked: Llewellyn, Stockdale, Hegarty.
Goals: Conlon 55.
Att: 5,535
Ref: Jarnail Singh (Middlesex).
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