Grounded Lithium Spuds First Oil and Gas Well, Advancing Near-Term Cash Flow Strategy

Core Insights - Grounded Lithium Corp. has initiated drilling for its first oil and gas well as part of a two-well program in Saskatchewan, aiming to enhance near-term cash flow [1] - The company has diversified its resource base by acquiring oil and gas mineral rights, with plans to quickly bring successful wells into production [1] - Grounded anticipates a payout period of six to twelve months based on current commodity prices, which will improve working capital reserves for its lithium project [1] Company Overview - Grounded Lithium Corp. controls approximately 1.0 million metric tonnes of Measured & Indicated lithium carbonate equivalent resources and about 3.2 million metric tonnes of Inferred resources in Southwest Saskatchewan [1] - The updated Preliminary Economic Assessment (PEA) indicates a Phase 1 NPV8 after-tax of US$1.0 billion and an after-tax IRR of 48.5% [1] - The company's business model focuses on the consolidation, delineation, exploitation, and development of lithium resources to support the global energy transition [1]