Grounded Lithium Files National Instrument 43-101 Compliant Pre-Feasibility Study for the Kindersley Lithium Project

Grounded Lithium Corp. (TSXV: GRD) filed a National Instrument 43-101 compliant Pre-Feasibility Study (PFS) for the Kindersley Lithium Project (KLP) on October 28, 2026. The technical report, prepared by Stantec Consulting Ltd., formalizes the economic and operational parameters previously announced on October 13, 2026.

The study covers only 13% of the total KLP land base, targeting 3,200 tonnes/year of Lithium Carbonate Equivalent (LCE) production from 82,499 tonnes of booked Mineral Reserves. Key PFS metrics include a C$125 million NPV8 (8% discount rate), an after-tax IRR of 11%, and a base-case capital expenditure of C$603.1 million. The filing highlights shallow reservoir depths (900-1,200 meters), high brine purity, and a phased development approach to mitigate initial capital outlay.

Project partner Denison Mines Corp. retains an option to earn up to a 75% working interest by funding up to $15.15 million in cash and project expenditures.

Grounded Lithium Corp. (GRD) filed a regulatory form on October 28 that confirms the economic data previously disclosed on October 13, 2026. The filing introduces no new financial or technical metrics.

The October 13 announcement triggered a sharp market reaction, with the stock falling from approximately $0.07 to $0.03. This decline reflected a significant downgrade in project economics compared to the November 2023 Preliminary Economic Assessment (PEA), which previously cited a US$1.0 billion NPV and 48.5% IRR. The current Pre-Feasibility Study (PFS) economics show an 11% IRR and $603 million Capex, figures that are materially weaker than prior guidance and indicate higher execution risk and lower near-term profitability.

Grounded Lithium Corp. (GRD) operates in Saskatchewan, Canada, focusing on lithium extraction from subsurface brines. Its flagship asset is the Kindersley Lithium Project (KLP), which encompasses approximately 77,600 hectares. The company’s resource base includes approximately 1.0 million tonnes of Measured & Indicated LCE and approximately 3.2 million tonnes of Inferred LCE.

The project is in the development stage, utilizing Direct Lithium Extraction (DLE) technology with an adsorption-based process. Testing has achieved a 98% lithium recovery factor. The Preliminary Feasibility Study (PFS) outlines a modular, phased approach designed to reduce initial capital requirements and the environmental footprint. Additionally, the company holds oil and gas mineral rights in Saskatchewan, which are utilized to generate near-term cash flow and fund lithium development.