#Canada #Denison Mines #Calgary #Grounded Lithium #Kindersley Lithium

Grounded Lithium's Year-End Financial Report Overview

Grounded Lithium Corp., trading under TSXV: GRD and OTCQB: GRDAF, recently released its financial and operational results for the fiscal year ending December 31, 2024. The report showcased key partnerships and the company's ongoing commitment to advancing the Kindersley Lithium Project (KLP), aimed at bolstering its standing in the lithium market.

Key Financial Highlights

The company reported a net comprehensive loss of CAD 141,079 for the last quarter of 2024, markedly reduced from CAD 776,549 in the previous year. For the full year, the loss was CAD 1,073,898, down from CAD 4,187,227, indicating significant improvement in cost management. The cash flow used in operational activities also saw a decline, moving from CAD 3,057,030 in 2023 to CAD 720,313 in 2024, demonstrating the company’s efforts in financial discipline.

An important element of Grounded Lithium's success has been its collaboration with Denison Mines Corp., a recognized uranium development company. In January 2024, the two companies entered into agreements allowing Denison to potentially take majority ownership in the KLP by financing up to CAD 15.15 million, through cash payments and project expenditures. This partnership is crucial for advancing technical studies that underpin the project's feasibility.

Strategic Developments

Grounded Lithium is poised for further development with Denison’s partnership, which includes initiating a Pre-Feasibility Study (PFS) slated for later this year. This study will entail significant technical research, including re-entering the dedicated lithium well (4-15 Well) for lab pilot studies and engineering assessments. These activities align with the company's objective to establish an economically viable lithium extraction operation in Saskatchewan.

President's Message
The company’s president highlighted the importance of the current financial position, emphasizing a sustainable balance between corporate expenditure and project advancement. This strategy is intended to culminate in the completion of the PFS, a key milestone for commercial production. The collaboration with Denison not only secures funding but also mitigates the need for GLC’s dilution at both the asset and corporate levels.

The completed updates to the 4-15 Well involve extensive begging into brine sampling which yielded significant data across various horizons within the Duperow/Leduc rock formation. More importantly, these findings will assist in evaluating extraction methods and potential partnerships with Direct Lithium Extraction (DLE) firms. The aim is to leverage the productivity and lithium concentration data to optimize the field layout and design for extraction facilities.

Future Outlook

As Grounded Lithium continues its journey towards becoming a premier, environmentally responsible lithium producer, the company expresses optimism for achieving substantial shareholder value through its technical advancements and partnerships. The company’s strategy and recent developments underscore a promising path forward amid the global energy transition and the increasing demand for lithium.

In summary, Grounded Lithium Corp. is in a transformative stage, committed to establishing a dominant presence in the lithium market while actively managing risks and expenses. With ongoing partnerships and strategic projects, GLC is well-positioned for future success in the energy sector.

About Grounded Lithium Corp.

Grounded Lithium is dedicated to exploring and developing lithium brine resources in Saskatchewan, holding approximately 1.0 million metric tonnes of lithium carbonate equivalent mineral resources and aiming to lead in the global shift towards renewable energy.

For investors seeking updates, financial disclosures are readily available on the company's website and OTC Markets page.