Mr. Gregg Smith reports

GROUNDED LITHIUM PROVIDES SPRING 2026 OPERATIONAL UPDATE

Grounded Lithium Corp. has provided an operational update addressing recent activity on both the company's oil and gas operations and its partnership with Denison Mines Corp. on the Kindersley lithium project (KLP).

Oil and gas operations update

May, 2026, oil production sales totalled 114 barrels per day (bpd), consistent with production reported in April, 2026, in the company's press release dated May 7, 2026. Grounded Lithium's 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. The company anticipates 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 its partners are advancing plans for additional development wells. As the operator of the wells, the company also recovers overhead in addition to the company's share of revenue.

KLP update

As communicated in a number of prior press releases, the company and Denison are progressing the completion of the prefeasibility 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.

Grounded Lithium is a publicly traded lithium brine exploration and development company that owns approximately 1.0 million metric tonnes of measured and 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 (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 NPV 8 (net present value, 8-per-cent discount rate) after tax of $1.0-billion (U.S.) with an after-tax IRR (internal rate of return) of 48.5 per cent. In January, 2024, GLC entered into an agreement with Denison whereby Denison has the option to earn up to a 75-per-cent working interest in the KLP by funding in aggregate up to $15.15-million comprising both cash payments to GLC of up to $3.15-million and financing project expenditures of up to $12-million through a structured earn-in option.

Grounded Lithium's multifaceted business model involves the consolidation, delineation, exploitation and ultimately development of the company's opportunity base to fulfill its vision to build a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift. U.S. investors can find current financial disclosure and real-time level 2 quotes for the company.

Qualified person

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, PL Eng, and Michael Munteanu, PEng, each of whom is a qualified person within the meaning of National Instrument 43-101.

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