Grounded Lithium Corp. announce the entering into a purchase and sale agreement with Hub City Lithium Corp., owned 75% by EMP Metals Corp. with the remaining 25% owned by ROK Resources Inc., to acquire an additional 33 sections (8,498 hectares) of highly prospective lands in our core Kindersley area.

The acquisition will bring GLC's total corporate landholdings, both Crown and freehold, to 333 sections (86,229 hectares), with approximately 300 sections (77,477 hectares) alone in the Kindersley Lithium Project ("KLP"). GLC expects to close the acquisition on or around March 15, 2023 (the "Closing"), subject to the satisfaction of certain conditions precedent. Following the Closing, the Company's 300 section land position and development plan for the KLP is depicted in the following map.

The Company expects that all of their Crown and freehold land positions can be developed independently while respecting the terms of the individual agreements, and they foresee no need to pool lands between the various mineral rights owners. Their development plans include drilling on both Crown and freehold land holdings to satisfy future work commitments and maintain the lands with all parties. The acquisition adds 12% to the Company's prospective land base within the KLP, while adding 11% to the Company's over alll and position.

Pursuant to the terms of the original lease agreement governing the Assets, the Company will have six years to meet capital commitments on the Assets. From a broader field development plan, future work commitments on both Crown and freehold lands will be satisfied by slightly relocating a few locations in their first phase field development plan, with no impact on costs or anticipated outcomes, as communicated in their press release dated February 8, 2023. Work commitments apply to all parties operating in this area, whether landholdings are Crown or freehold, and must be met to extend the ability to develop those landholdings beyond the initial period commonly referred to as the primary term.

It is expected that consolidating land positions within the KLP will provide a number of operational and infrastructure efficiencies; however, developing from At present, the KLP has been independently assessed by Sproule Associates Limited containing 3.7 million tonnes of lithium carbonate equivalent. While not all acreage is completely homogeneous, an average LCE per section in the KLP is approximately 14,000 tonnes. The transaction specifically targeted lands that possess a higher strategic and geologic value for the Company.

The Company believes that on a purchase price per tonne of inferred LCE basis, this transaction will be accretive to GLC's existing enterprise value per tonne metric, which is approximately $4.50/tonne. Further, the acquisition of the Assets is competitive compared to recent Crown land sales in the nearby area where successful bids have exceeded $100/hectare. The Company purchased the Assets for $50/hectare.

The Company's total land acquisition price in the greater Kindersley area is approximately $16/hectare, as compared to the next most significant peer accumulating land at an average cost of approximately $41/hectare. Third party property acquisition price information is sourced from the published results of Saskatchewan's Subsurface Mineral Public Offerings for Permits.