Grounded Lithium Corp. ("GLC", "Grounded") announces we have begun drilling the first of a two well program targeting oil and gas resources near Marsden, Saskatchewan. As communicated in our press release dated January 14, 2026, Grounded has diversified its potential resource base by acquiring certain oil and gas mineral rights.
The two wells will be drilled from one pad or surface location, saving time and capital in lease construction and facilitating ease of our future production operations. As the wells in the program are relatively shallow, the intention is to quickly follow drilling activities with associated completion activities and bring successful wells onto production as quickly as possible. It is anticipated based on well type curves in the surrounding area that payout under the various agreements that Grounded is party to, will occur in six to twelve months based on current commodity prices. Post-payout, net operating income payable to Grounded will enhance working capital reserves to fund Grounded's ongoing commitments associated with the Kindersley Lithium Project.