Grounded Lithium Provides Spring 2026 Operational Update

About this update from Grounded Lithium Corp

CALGARY, AB, June 11, 2026 /CNW/ - (TSXV: GRD) (OTC: GRDAF) - Grounded Lithium Corp. ("GLC" or the "Company") is pleased to provide an operational update addressing recent activity on both our oil and gas operations and our partnership with Denison Mines Corp ("Denison") on the Kindersley Lithium Project ("KLP"). Oil and Gas Operations Update May 2026 oil production sales totaled 114 barrels per day ("bpd"), consistent with production reported in April 2026 in our press release dated May 7, 2026. Our partnership is now focused on optimizing both wells in efforts to deliver high quality, spec grade, oil into the commodity markets and alleviate facility limitations on daily production. We anticipate that upon completion of relatively straightforward improvements to the facilities, production may initially exceed 150 bpd followed by months/years of a shallow production decline. Encouraged by these factors, the Company and our partners are advancing plans for additional development wells. As the operator of the wells, the Company also recovers overhead in addition to our share of revenue. KLP Update As communicated in a number of prior press releases, the Company and Denison are progressing the completion of the pre-feasibility study ("PFS") for the KLP. Now at the review stage and assuming positive technical, operational and economic conclusions, the PFS will serve as the basis for important next steps in the journey to bring the KLP to a commercial project. About Grounded Lithium Corp. GLC is a publicly traded lithium brine exploration and development company that owns approximately 1.0 million metric tonnes of Measured & Indicated lithium carbonate equivalent mineral resource and approximately 3.2 million metric tonnes of Inferred lithium carbonate equivalent resource over our focused land holdings in Southwest Saskatchewan as per the Company's updated PEA. The updated PEA, titled "NI 43-101 Technical Report: Preliminary Economic Assessment Kindersley Lithium Project – Phase 1 Update" dated November 7, 2023 and effective as of June 30, 2023, reports a Phase 1 NPV8 after-tax of US$1.0 billion with an after-tax IRR of 48.5%. In January 2024, GLC entered into an agreement with Denison whereby Denison has the option to earn up to a 75% working interest in the...

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