Grounded Lithium Provides Oil & Gas Operations Update, Announces Annual General and Special Meeting and Option Grant 

Grounded Lithium Corp. has announced significant progress in its resource diversification strategy beyond lithium, reporting strong initial results from its oil and gas operations. The company's two wells, drilled from a single pad, averaged over 120 barrels per day during April 2026, with production expected to increase in the short term as operational understanding deepens. At current commodity pricing, the company anticipates a realized sales price of over CAD$90 per barrel, with payout expected in less than six months.

The oil and gas venture represents a strategic pivot for the primarily lithium-focused company, which maintains substantial lithium resources in Southwest Saskatchewan totaling approximately 1.0 million metric tonnes of Measured & Indicated lithium carbonate equivalent and 3.2 million metric tonnes of Inferred resources. The company's Kindersley Lithium Project benefits from a joint venture agreement with Denison, which can earn up to 75% working interest by funding up to $15.15 million in development costs.

From a corporate governance perspective, Grounded Lithium has scheduled its Annual General and Special Meeting for June 17, 2026, in Calgary, where shareholders will vote on various matters including disinterested shareholder approval for insider stock options. The company granted 2.3 million stock options at $0.07 per share on May 6, 2026, reflecting its compensation philosophy of equity-based incentives over cash compensation.

The successful diversification into oil and gas operations provides an important revenue stream while the company advances its core lithium development strategy. With oil production ramping up and expected to deliver strong cash flows in the near term, Grounded Lithium is positioning itself as a multi-commodity resource company capable of generating returns across different energy sectors during the ongoing energy transition.