Mr. Gregg Smith reports
GROUNDED LITHIUM REPORTS SECOND QUARTER 2024 FINANCIAL AND OPERATING RESULTS
Grounded Lithium Corp. has released its financial and operating results for the three- and six-month periods ended June 30, 2024. Selected financial and operational information is set out in an attached table and should be read in conjunction with the company's June 30, 2024, financial statements and the related management's discussion and analysis, which are available for review on SEDAR+ or at the company's website.
About Grounded Lithium Corp.
Grounded Lithium is a publicly traded lithium brine exploration and development company that controls approximately one million metric tonnes of measured and indicated lithium carbonate equivalent mineral resources and approximately 3.2 million metric tonnes of inferred lithium carbonate equivalent resources over its focused landholdings in southwestern Saskatchewan, as per the company's updated preliminary economic assessment. The updated PEA, titled "NI 43-101 Technical Report: Preliminary Economic Assessment Kindersley Lithium Project -- Phase 1 Update," dated Nov. 7, 2023, and effective as of June 30, 2023, reports a phase 1 after-tax net present value at an 8-per-cent discount of $1-billion (U.S.) with an after-tax internal rate of return of 48.5 per cent. Grounded Lithium's multifaceted business model involves the consolidation, delineation, exploitation and, ultimately, development of its opportunity base to fulfill its vision to build a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift.
Qualified persons
The scientific and technical information contained in this press release has been prepared under the supervision of Doug Ashton, PEng, Alexey Romanov, PGeo, Meghan Klein, PEng, Dean Quirk, PEng, Jeffrey Weiss, PEng, Chad Hitchings, PLEng, and Michael Munteanu, PEng, each of whom is a qualified person within the meaning of National Instrument 43-101.
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