Mr. Gregg Smith reports

GROUNDED LITHIUM ANNOUNCES VARIOUS CORPORATE MATTERS

Grounded Lithium Corp. has provided an update on a number of corporate matters.

Shares for services/debt

The company engaged Koch Technologies Solutions (KTS) a number of months ago to perform certain treatability studies on the company's brine resources. This was performed with exceptional results and largely moved Grounded Lithium to select KTS as its chosen extraction technology solution. The fees associated with this testing have been agreed to by company and officials at KTS to be satisfied with Class A common shares of the company. A total of 1,665,354 common shares, representing 2.1 per cent of the pro forma outstanding common shares, will be issued to an affiliate of KTS. These shares will be subject to a four-month statutory hold period.

"We are very pleased that KTS decided to take a small equity stake in the company," commented Gregg Smith, president and chief executive officer. "KTS remains a pivotal partner in achieving our vision to become an environmentally friendly producer of battery-grade lithium, now potentially with the significant assistance from Denison Mines Corp. Koch's decision is a vote of confidence in the flowsheet that we have put forward and we look forward to working more extensively with them on the Kindersley lithium project."

Market support agreement

The company re-engaged Integral Wealth Securities Ltd. to assist in certain market-making services. All previous agreements on this subject are terminated. Integral will provide these services for trading on the TSX Venture Exchange in accordance with the TSX-V policies, for the purpose of maintaining an orderly market. The company engaged Integral on a minimum three-month contract, which can be extended monthly, for a cash fee of $6,000 cash per month unless otherwise agreed to. Integral and Grounded Lithium are unrelated and unaffiliated entities. Integral will not receive shares or options as consideration. The capital used for market-making will be provided by Integral.

Incentive compensation awards

The company also announces that it intends to grant 4,066,000 stock options to certain officers, employees, directors and consultants of the company at a strike price of six cents and a term of five years from the date hereof. Options granted will be pursuant to the company's approved equity incentive plan. The grant of the options is subject to approval by the TSX-V.

In addition, 1,744,000 restricted share units (RSUs) will be granted to certain employees, officers, consultants and directors as applicable. RSUs vest 50 per cent equally on the 12- and 24-month anniversaries from the date of grant.

Incentives compensation awards were granted in lieu of other compensation.

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 resource and approximately 3.2 million metric tonnes of inferred lithium carbonate equivalent resource over its focused landholdings in southwest 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 net present value (8 per cent) after tax 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

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.

We seek Safe Harbor.