Mr. Gregg Smith reports

GROUNDED LITHIUM FILES NATIONAL INSTRUMENT 43-101 COMPLIANT PRE-FEASIBILITY STUDY FOR THE KINDERSLEY LITHIUM PROJECT

Grounded Lithium Corp. has filed the prefeasibility study prepared by Stantec Consulting Ltd. titled "NI 43-101 Technical Report: Kindersley Lithium Project - Phase 1 Pre-Feasibility Study" dated June 26, 2026 (the PFS), further to the company's news release dated Oct. 13, 2026. The PFS was prepared for both GLC and the company's project partner Denison Mines Corp. The PFS is available on SEDAR+ and on the company's website.

The PFS addresses the first phase of many for potential development of the KLP. In the opinion of the KLP project partners, this PFS represents a fulsome and honest pioneering approach in the lithium from brine industry in Canada that has the technical rigour necessary to bring potential projects of this nature to a commercial scale. Thousands of hours were incurred by representatives of the partner group in addition to representatives of Stantec and several other external third party experts. This report provides to the marketplace what the company and Denison believe to be a defendable project grounded in intellectual honesty and integrity. Further to the Oct. 13, 2026, release, a few specific points to highlight include:

• Lack of impurities in the resource -- As has been previously communicated in the company's public filings and presentations, the KLP lacks impurities related to field legacy or adjacent oil and gas deposits as compared with others in the industry. This affords the KLP a major advantage in processing flowsheets and capital preservation as other projects must deal with these specific contaminants prior to lithium extraction.
• Depth of reservoir -- Drilling depth correlates directly with capital costs. The KLP represents one of the shallowest resources (approximately 900 to 1,200 metres depth) in the industry which taken in isolation, results in a better capital efficiency compared with most peers on individual well development drilling capital.
• The company's reserves assessment provides increased assurance of production performance provided by in-depth reservoir modelling over 25 years to estimate produced volumes from individual wells, reinjection of spent brines for production maintenance and eventually realizing minor dilution of the brine. After 25 years of production, the PFS estimates still remaining measured and indicated resources within the KLP area.
• Scalability -- The project partners are taking a cautious approach to the overall project development. This initial project phase described in the PFS accounts for only 13 per cent of the overall KLP area and yields positive project economics. Planned activities over the short to medium term will provide additional justification to assess other phases to follow. It is contemplated that these future phases may involve enhanced returns as the company applies learnings, enjoy economies of scale and incorporate optimizations to the development.

About Grounded Lithium Corp.

Grounded Lithium is a publicly traded company whose main focus is the development of the Kindersley lithium project in conjunction with its project partner, Denison Mines Corp. The KLP encompasses a resource base of approximately 1.0 million metric tonnes of combined mineral reserves and measured and indicated resources of lithium carbonate equivalent. The KLP's prefeasibility study reports a NPV8 (net present value, 8-per-cent discount rate) of $125-million and an after-tax IRR (internal rate of return) of 11 per cent, on a considerably smaller land base than that included in the 2023 PEA. 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 funding project expenditures of up to $12-million through a structured earn-in option. In addition to the KLP, the company also develops oil and gas resources to supplement working capital to provide a diversified asset base.

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.

Qualified person

Scientific and technical information contained in this press release has been prepared under the supervision of Doug Ashton, PEng, of Sproule International Ltd., and Derek Loveday, PGeo, Vining Wolff, PEng, and Karen Mathers, PGeo, of Stantec Consulting Ltd., each of whom is a qualified person within the meaning of National Instrument 43-101.

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