CALGARY – October 29, 2026 -- Grounded Lithium Corp. (TSXV: GRD) has filed a pre-feasibility study for the Kindersley Lithium Project (KLP) reporting an NPV8 of C$125 million and an after-tax IRR of 11% for a first phase covering only 13% of the project area.
Stantec study for Grounded Lithium and Denison is dated June 26, 2026
The NI 43-101 technical report, "Kindersley Lithium Project – Phase 1 Pre-Feasibility Study," was prepared by Stantec Consulting Ltd. for GLC and its project partner Denison Mines Corp. It follows a company news release dated October 13, 2026. The PFS rests on a considerably smaller land base than the 2023 PEA. The KLP resource base totals about 1.0 million metric tonnes of lithium carbonate equivalent, combining Mineral Reserves with Measured and Indicated Resources.
Shallow, low-impurity brine at 900 to 1,200 meters targets lower capital costs
GLC says the KLP brine lacks the impurities tied to legacy or adjacent oil and gas fields. Other projects must remove these contaminants before lithium extraction, so GLC expects simpler processing flowsheets and capital preservation.
At roughly 900 to 1,200 meters, the KLP is one of the shallowest resources in the industry. Drilling depth correlates directly with capital cost, and the company says this gives better capital efficiency than most peers on individual well development.
25-year reservoir model leaves Measured and Indicated Resources in place
The reserves assessment models produced volumes from individual wells over 25 years. It includes reinjection of spent brine to maintain production and eventual minor dilution of the brine. After 25 years, the PFS estimates Measured and Indicated Resources still remain in the KLP area.
Denison can earn up to 75% through $15.15 million in funding
Denison holds an option to earn up to a 75% working interest in the KLP. It would fund up to $15,150,000 in aggregate, made up of cash payments to GLC of up to $3,150,000 and project expenditures of up to $12,000,000.
The partners are taking a staged approach. Planned short- and medium-term activities are meant to justify assessing later phases, which GLC says may bring enhanced returns from operating learnings, economies of scale and optimizations. GLC lists risks including the inability to convert Inferred Mineral Resources into higher-confidence categories, DLE technology selection and scaling, permitting and Indigenous consultation, and financing.