CALGARY, ALBERTA (March 21, 2023) (TSX.V: GRD OTCQB: GRDAF) – Grounded Lithium Corp. (“GLC” or the “Company”) is pleased to announce the selection of a second well-respected and industry known entity (the “Industry Expert”) to conduct lithium extraction testing on brine sourced from our Kindersley Lithium Project (“KLP”). Selection of a second Industry Expert is consistent with our strategy to a best in class fit of extraction technology to resource. The Industry Expert maintains their anonymity at this time. However, they are an established technology provider in the extraction process field, having successfully completed brine characterization and testing for other companies with lithium resources. Extraction testing with the Industry Expert is expected to be completed by late April or early May.
GLC will transport sufficient quantities of KLP brine to the Industry Expert’s chosen facility where the Industry Expert will evaluate its extraction technology in parallel with the previously announced technology candidate, Koch Technology Solutions. GLC anticipates selection of a preferred alternative during Q2 2023, which will then be encompassed in the Company’s preliminary economic assessment together with all future field development initiatives, leading ultimately to commercial production.
About Grounded Lithium Corp.
GLC is a publicly traded lithium brine exploration and development company that controls approximately 4.2 million metric tons of lithium carbonate equivalent of inferred resource over our focused land holdings in Southwest Saskatchewan. GLC’s multi-faceted business model involves the consolidation, delineation, exploitation and ultimately development of our opportunity base to fulfill our vision to build a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on https://www.otcmarkets.com/.
Scientific and technical information contained in this press release has been prepared under the supervision of Doug Ashton, P.Eng, Suryanarayana Karri, P. Geoph., Alexey Romanov, P. Geo. and Meghan Klein, P. Eng., each of whom is a qualified person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
For more information, please contact: 2
Gregg Smith, President & CEO
Greg Phaneuf, SVP Corporate Development & 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 the Industry Expert’s lithium from brine extraction technology, the expected timing of completing phase 1 testing on the Industry Expert’s technology, the selection of a lithium from brine technology by the Company and timing thereof, and GLC’s vision of becoming a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition.
Among the important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those indicated by such forward-looking statements are: GLC’s expectation that our 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 our 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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