08:36 AM EDT, 09/10/2024 (MT Newswires) -- Grounded Lithium ( GRDAF ) announced Tuesday an approved budget for the Kindersley Lithium Project in Saskatchewan. The budget was developed with Denison Mines ( DNN ) and, a statement said, "advances various activities" to June next year.

The $4.5 million budget will be fully funded by Denison, pursuant to the January earn-in agreement. When this budget is completed, Denison will have incurred more than $5 million of the $6 million required to complete Phase 2 of the agreement to earn a 55% interest. Denison holds an option to earn up to a 75% working interest in the project.

Grounded Lithium ( GRDAF ) and Denison have begun a request for proposal (RFP) process with engineering service firms to author an independent preliminary feasibility study (PFS) for a commercial battery grade lithium operation.