Grounded Lithium Corp. generated CAD $79,527 in operating cash flow for the second quarter ended June 30, 2026, reversing from an outflow of CAD $45,658 in the same period of 2025.

The company incurred a net comprehensive loss of CAD $132,943 for the quarter, widening from CAD $103,370 in the second quarter of 2025. Funds flow used in operations totaled CAD $82,807, compared to CAD $71,330 previously, while capital expenditures reached CAD $1,462 against nil a year earlier. Working capital closed the period at a deficit of CAD $114,043, shifting from a surplus of CAD $94,710 as of June 30, 2025.

During the quarter, Grounded Lithium acquired oil and gas mineral rights from a Saskatchewan Crown land sale in conjunction with existing partners. The lands are located near and adjacent to existing acreage, with the company anticipating future conventional oil drilling to diversify its asset base and generate corporate cash flow supporting its lithium initiatives near Kindersley, Saskatchewan.

Denison Mines Corp. holds an option to acquire a majority working interest in the Kindersley Lithium Project by funding project expenditures and making cash payments across three distinct phases. The project's Phase 1 Preliminary Economic Assessment, effective June 30, 2023, outlined an after-tax net present value of US$1.0 billion and an after-tax internal rate of return of 48.5%.

Grounded Lithium and strategic partner Denison are preparing an independently authored Pre-Feasibility Study for the Kindersley Lithium Project following metallurgical testing and depletion modeling. The partners also plan to advance a field pilot utilizing Koch Technology Solutions' Li-Pro direct lithium extraction technology.

Read the full announcement: Grounded Lithium Reports Second Quarter 2026 Financial and Operating Results