Grounded Lithium Provides Spring 2026 Operational Update

Grounded Lithium Corp. has provided an operational update that demonstrates steady progress across both its oil and gas operations and its strategic lithium development activities. The company maintained oil production at 114 barrels per day in May 2026, consistent with April levels, while implementing facility optimization measures that could potentially drive production to over 150 bpd before entering a shallow decline phase.

The company's oil and gas operations serve as a cash-generating foundation while it advances its core lithium assets. Management is optimizing two producing wells and has indicated plans for additional development drilling, with the company benefiting both from its revenue share as well as operator overhead recovery. This dual-commodity approach provides operational diversification and cash flow to support the more capital-intensive lithium development activities.

On the lithium front, Grounded Lithium continues to progress the Kindersley Lithium Project in partnership with Denison Mines Corp., which can earn up to 75% working interest by investing $15.15 million. The pre-feasibility study is now at the review stage, representing a critical milestone that will determine the project's commercial viability and next development steps. The project boasts substantial resources of approximately 1.0 million metric tonnes of Measured & Indicated lithium carbonate equivalent and 3.2 million metric tonnes of Inferred resources.

The company's strategic positioning in Saskatchewan's emerging lithium sector, combined with stable oil production providing near-term cash flow, creates a balanced portfolio approach to resource development. With lithium demand driven by the global energy transition and Saskatchewan emerging as a key North American lithium jurisdiction, successful completion of the PFS could position Grounded Lithium as a significant player in Canada's critical minerals sector. The dual-commodity strategy also provides operational resilience during commodity price volatility while maintaining exposure to the high-growth battery metals sector.