CALGARY, AB, July 30, 2026 /CNW/ -- (TSXV: GRD) (OTC: GRDAF) - Grounded Lithium Corp. ("GLC" or the "Company") is pleased to announce that our partnership's June oil sales averaged 123 bbl/day, consistent with volumes reported previously by the Company. Level to increasing production supports the original investment thesis regarding low decline production profiles with improving netbacks given crude oil fundamentals.

The Company also announces that it has entered into an agreement with an arms-length third party to provide loan proceeds of C$106,000, bearing interest at 12% per annum, on an unsecured basis (the "Facility Loan"). The Facility Loan is repayable in equal instalments over an eighteen (18) month term, with 50% of the Facility Loan supported by a standalone agreement between GLC and the unrelated third party announced in the Company's original oil & gas acquisition and farmout transaction press release (see press release dated January 14, 2026). Total facility upgrade costs are estimated at C$263,000. The balance of the facility cost upgrades will be funded in part by Analogy Capital Advisors Inc. ("Analogy Capital") to its 40% working interest after consideration of a non-interest-bearing loan provided by the vendor of the facility equipment of approximately C$86,000 (the "Vendor Loan"), repayable by all partners in accordance with their respective working interests, being:

• Analogy Capital – 40%
• GLC – 30%
• Unrelated Third Party – 30%

Following completion of the facility upgrades to improve operating cost efficiencies and increase throughput capacity, GLC, as operator, expects to enter into separate processing fee agreements with all working interest partners, with the potential for fees on third party volumes. The facility upgrades are expected to enhance operating netbacks for all partners with processing fee income allocated first to debt repayments. The Company expects that with greater operating efficiencies and lower costs, our payout timelines will accelerate, after which, the Company's share of net operating income will increase significantly. We expect these facility upgrades to be completed in early August 2026.

About Grounded Lithium Corp.

GLC is a publicly traded lithium brine exploration and development company that owns approximately 1.0 million metric tonnes of Measured & Indicated lithium carbonate equivalent mineral resource and approximately 3.2 million metric tonnes of Inferred lithium carbonate equivalent resource over our focused land holdings in Southwest Saskatchewan as per the Company's updated PEA. The updated PEA, titled "NI 43-101 Technical Report: Preliminary Economic Assessment Kindersley Lithium Project – Phase 1 Update" dated November 7, 2023 and effective as of June 30, 2023, reports a Phase 1 NPV₈ after-tax of US$1.0 billion with an after-tax IRR of 48.5%. In January 2024, GLC entered into an agreement with Denison whereby Denison has the option to earn up to a 75% working interest in the KLP by funding in aggregate up to $15,150,000 comprised of both cash payments to GLC of up to $3,150,000 and funding project expenditures of up to $12,000,000 through a structured earn-in option.

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/. 

Qualified Person

Scientific and technical information contained in this press release has been prepared under the supervision of Doug Ashton, P.Eng., Alexey Romanov, P. Geo., Meghan Klein, P. Eng., Dean Quirk, P.Eng., Jeffrey Weiss, P.Eng., Chad Hitchings., P.L. Eng., and Michael Munteanu, P.Eng., each of whom is a qualified person within the meaning of NI 43-101.

Forward-Looking Statements

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. Such statements include, but are not limited to, statements pertaining to the anticipated use of proceeds of the Facility Loan, the anticipated cost and timing of completion of the facility upgrades, the expected application and repayment of the Facility Loan and Vendor Loan, the Company's expectation that it will enter into processing fee agreements with the working interest partners and various third parties, the expected amount and duration of any processing fees, the anticipated impact of the facility upgrades on operating netbacks, oil production, net operating income and related economics, the potential for additional oil and gas drilling, the ability of the KLP to become a commercial project, and GLC's vision of becoming a best-in-class, environmentally responsible Canadian lithium producer supporting the global energy transition.

Forward-looking statements are based on a number of assumptions, including assumptions regarding the availability and timing of loan proceeds, the estimated cost and timing of completion of facility upgrades, the ability of GLC and the working interest partners to enter into processing fee arrangements on acceptable terms, the continued production, transportation and sale of oil from the applicable assets, commodity prices, operating costs, processing costs, realized netbacks, the availability of equipment, services and personnel, continued access to infrastructure, the absence of material adverse technical, operational, regulatory or weather-related events, and the continued validity of the Company's current development plans and expectations. 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.

Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such statements, including risks relating to the availability and use of loan proceeds, cost overruns, delays in completing facility upgrades, failure to enter into processing fee agreements on expected terms or at all, failure of the facility upgrades to achieve expected improvements in operating netbacks, production or net operating income, reductions in oil prices or realized netbacks, operating interruptions:, 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. The forward-looking statements contained in this press release are made as of the date hereof, and the Company does not undertake any obligation to update or revise any forward-looking statements, except as required by applicable securities laws.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/grounded-lithium-announces-june-oil-sales-and-secures-loans-to-fund-oil--gas-facility-improvements-302838616.html

SOURCE Grounded Lithium Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2026/30/c9799.html