CALGARY, ALBERTA (September 7, 2022) (TSX.V: GRD) – Grounded Lithium Corp. (“GLC” or the “Company”) is pleased to announce it successfully negotiated and executed an additional freehold mineral rights agreement with a significant landowner in the Company’s core area in Southwest Saskatchewan. A Brine Minerals Permit with National Trust Company Limited (“National Trust”) through Computershare Trust Company of Canada acting as their agent (the “National Trust Permit”) was executed on September 6, 2022. Similar to the brine minerals permit that the Company executed with PrairieSky Royalty Ltd (“PrairieSky”) earlier in the year (the “PSK Permit”), the National Trust Permit extends the Company total landholdings by 34 sections (8,838 ha’s) bringing total prospective Company landholdings to approximately 284 sections (73,259 ha’s). Acreage associated with the National Trust Permit will be included in the Company’s Kindersley Lithium Project (“KLP”). Resource estimates on these additional lands will be included in future resource assessment reports pursuant to the provisions under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Commercial terms associated with the National Trust Permit mirror those negotiated under the PSK Permit whereby the Company remitted a bonus and first year rental payment to National Trust at closing. Work commitments to earn all lands under National Trust Permit are equally consistent with similar freehold land transactions. The Company remains confident that all prospective lands under the National Trust Permit will be earned.
The significant freehold mineral permit with PrairieSky executed earlier in the year secured 180 sections or 46,580 hectares of lithium prospective acreage for the Company. The PSK Permit lands represent a significant portion of the lands which are included in the Company’s KLP. PrairieSky is one of the largest mineral rights companies in Western Canada with a present market capitalization of over $4 billion. The permit executed with PrairieSky represents an innovative transaction for metallic brines in Western Canada and one that both the Company and PrairieSky are proud of in terms of building the battery supply chain upstream industry.
“As part of our previously communicated vision and associated strategy, we intend to aggressively grow our landholdings in areas we believe honour our geological criteria which support commercial lithium from brine operations,” remarked Gregg Smith, President and Chief Executive Officer. “We are comforted that so many landowners in our core area are excited to work with us to strike mutually beneficial agreements, and ultimately drive further value creation for the benefit of all GLC stakeholders.”
About Grounded Lithium Corp.
GLC is a publicly traded lithium brine exploration and development company that controls 2.9 million tonnes of lithium carbonate equivalent over its focused land holdings in Southwest Saskatchewan. GLC’s multi-faceted business model involves the continuation of consolidation of its opportunity base while in parallel, commence delineation operations of the lithium brine potential across its current mineral rights position, all towards the vision of building a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift.
For more information, please contact:
Gregg Smith, President & CEO Greg Phaneuf, VP Finance & CFO
This press release may contain forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws. The opinions, forecasts, projections and statements about future events of results, are forward looking information, forward-looking statements or financial outlooks (collectively, “forward-looking statements“) under the meaning of applicable Canadian securities laws. These statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by GLC that the Company believes these forward-looking statements continue to be true as of any subsequent date. Although GLC believes that the assumptions underlying, and expectations reflected in, these forward-looking statements are reasonable, it can give no assurance that these assumptions and expectations will prove to be correct. Such statements include, but are not limited to, statements regarding earning prospective lands under the National Trust Permit, plans to grow landholdings, the ability to drive value creation for stakeholders and the vision of becoming a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift.
Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: GLC’s expectation that its operations will be in Western Canada, unexpected problems can arise due to technical difficulties and operational difficulties which impact the production, transport or sale of its products; geographic and weather conditions can impact the production; the risk that current global economic and credit conditions may impact commodity prices and consumption more than GLC currently predicts; the failure to obtain financing on reasonable terms; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the
failure of drilling to result in commercial projects; unexpected delays due to the limited availability of drilling equipment and personnel; and the other risk factors detailed from time to time in GLC’s periodic reports. GLC’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
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