Snow Lake Comments on Maiden High Grade Mineral Resource Estimate for the Maybell Uranium Project in Colorado
Highlights
Maybell is a recognised uranium district in Colorado with historical production of 5.3 Mlbs U3O8 over two discrete mining periods
GUE has completed a maiden JORC 2012 mineral resource estimate at Maybell1
The resource estimate follows the completion of a successful 31-hole drill program in 2024
Next steps include a follow-up drill program to enhance and expand the mineral resource
Full details of the resource estimate can be found in GUE's ASX Announcement of July 30, 20252
Domestic American uranium projects are poised to benefit from increasing demand for electricity, driven by big technology companies' expanding data centers and AI ambitions, together with President Trump's policies on nuclear energy
CEO Remarks
"As the cornerstone investor in GUE, we are pleased with the announcement of a significant maiden mineral resource estimate at the Maybell uranium project in Colorado," said Frank Wheatley, CEO of Snow Lake.
"With a maiden resource estimate at Maybell, coupled with a positive scoping study at the Tallahassee uranium project in Colorado, GUE is beginning to assemble a critical mass of domestic American uranium resources, which are poised to benefit from President Trump's policies on accelerating uranium production to ensure national and energy security."
"As a 50/50 joint venture partner with GUE on the Pine Ridge Uranium Project in the Powder River Basin in Wyoming, currently undergoing an aggressive 125,000 ft drill program, we certainly believe we are assembling an exceptional portfolio of American uranium projects that hold the potential to create significant value for Snow Lake shareholders."
About Snow Lake Resources Ltd.
Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian mineral exploration company listed on (NASDAQ: LITM), with a global portfolio of critical mineral and clean energy projects. The Pine Ridge Uranium project is an exploration stage project located in Wyoming, United States, and the Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia. Snow Lake also holds a portfolio of additional exploration stage critical minerals projects located in Manitoba, as well as investments in a number of public companies with critical minerals assets. Learn more at www.snowlakeenergy.com.
Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled "Risk Factors" in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law.
Contact and InformationFrank Wheatley, CEO
Investor RelationsInvestors:ir@snowlakelithium.comWebsite:www.snowlakeenergy.com
Follow us on Social MediaTwitter:www.twitter.com/SnowLakeEnergyLinkedIn:www.linkedin.com/company/snow-lake-energy
1 https://wcsecure.weblink.com.au/pdf/GUE/02972557.pdf2 https://wcsecure.weblink.com.au/pdf/GUE/02972557.pdf
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261447
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INVESTOR CONFERENCE CALL Details of Investor and Analyst Presentation Conference Call Details A presentation for investors and analysts will be held as follows: When: August 13, 2025 at 2:00pm London time Topic: Q2 2025 Results Call for Investors Register in advance for this webinar: ________________________ 1 Refer to the technical report entitled "NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe" with effective date December 31, 2023 prepared by Caledonia Mining Corporation Plc and filed by the Company on SEDAR+ ( on May 15, 2024. Craig James Harvey, MGSSA, MAIG, Caledonia Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Craig James Harvey is a "Qualified Person" as defined by each of (i) the Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects and (ii) sub-part 1300 of Regulation S-K of the U.S. Securities Act. Enquiries: Caledonia Mining Corporation Plc Mark Learmonth Tel: +44 1534 679 800 Camilla Horsfall Tel: +44 7817 841 793 Cavendish Capital Markets Limited (Nomad and Joint Broker) Adrian Hadden Tel: +44 207 397 1965 Pearl Kellie Tel: +44 131 220 9775 Panmure Liberum (Joint Broker) Scott Mathieson Tel: +44 20 3100 2000 Camarco, Financial PR/ IR (UK) Gordon Poole Tel: +44 20 3757 4980 Elfie Kent Fergus Young 3PPB (Financial PR, North America) Patrick Chidley Tel: +1 917 991 7701 Paul Durham Tel: +1 203 940 2538 Curate Public Relations (Zimbabwe) Debra Tatenda Tel: +263 77802131 IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe) Lloyd Mlotshwa Tel: +263 (242) 745 119/33/39 This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (EU) No. 596/2014 ('MAR') as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and is disclosed in accordance with the Company's obligations under Article 17 of MAR. 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Security holders, potential security holders and other prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. 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Security holders, potential security holders and other prospective investors are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Caledonia undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law. This news release is not an offer of the shares of Caledonia for sale in the United States or elsewhere. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the shares of Caledonia, in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such province, state or jurisdiction. Consolidated statements of profit or loss and other comprehensive income(in thousands of United States Dollars, unless indicated otherwise) For the Six months ended June 30 Six months endedJune 30 Unaudited 2025 2024 2025 2024 Restated* Restated* Revenue 65,309 50,107 121,487 88,635 Royalty (3,507 ) (2,475 ) (6,278 ) (4,409 ) Production costs (23,954 ) (20,460 ) (46,576 ) (39,420 ) Depreciation (4,042 ) (4,239 ) (7,901 ) (8,058 ) Gross profit 33,806 22,933 60,732 36,748 Net foreign exchange loss (1,026 ) (2,182 ) (2,278 ) (7,064 ) Administrative expenses (4,363 ) (3,664 ) (8,961 ) (6,275 ) Fair value loss on derivative financial instrument - (174 ) (1,592 ) (476 ) Equity-settled share-based expense (226 ) (305 ) (82 ) (506 ) Cash-settled share-based (expense) / credit (285 ) (4 ) (443 ) (57 ) Other expenses (1,103 ) (664 ) (1,946 ) (1,264 ) Other income 75 185 141 349 Profit on the sale of non-current assets held for sale 8,540 - 8,540 - Operating profit 35,418 16,125 54,111 21,455 Finance income 121 3 127 9 Finance cost (602 ) (797 ) (1,502 ) (1,529 ) Profit before tax 34,937 15,331 52,736 19,935 Tax expense (11,341 ) (5,151 ) (17,977 ) (7,681 ) Profit for the period 23,596 10,180 34,759 12,254 Other comprehensive income Exchange differences on translation of foreign operations 239 178 446 34 Total comprehensive income for the period 23,835 10,358 35,205 12,288 Profit attributable to: Owners of the Company 20,487 8,283 29,402 9,769 Non-controlling interests 3,109 1,897 5,357 2,485 Profit for the period 23,596 10,180 34,759 12,254 Total comprehensive income attributable to: Owners of the Company 20,726 8,461 29,848 9,803 Non-controlling interests 3,109 1,897 5,357 2,485 Total comprehensive income for the period 23,835 10,358 35,205 12,288 Earnings per share Basic earnings per share (cents) 105.7 41.6 150.3 48.9 Diluted earnings per share (cents) 105.7 41.6 150.3 48.9 Adjusted earnings per share Basic earnings per share (cents) 113.9 44.6 172.4 54.2 Dividends per share (cents) 14.0 14.0 28.0 28.0 * Refer to note Consolidated Statements of Financial Position (in thousands of United States Dollars, unless indicated otherwise) Unaudited Jun 30 Dec 31 Dec 31 As at 2025 2024 2023 *Restated Total non-current assets 300,646 287,046 274,074 Income tax receivable 106 355 1,120 Inventories 29,528 23,768 20,304 Derivative financial assets - - 88 Trade and other receivables 9,364 12,675 9,952 Prepayments 11,663 6,748 2,538 Fixed term deposit 18,000 - - Cash and cash equivalents 19,860 4,260 6,708 Assets held for sale - 13,512 13,519 Total assets 389,167 348,364 328,303 Total non-current liabilities 73,741 68,505 63,970 Cash-settled share-based payment 751 634 920 Income tax payable 9,122 2,958 10 Lease liabilities 278 95 167 Loans and borrowings 1,741 1,174 - Loan note instruments 1,093 855 665 Trade and other payables 29,137 26,647 20,503 Overdrafts 11,649 12,928 17,740 Liabilities associated with assets held for sale - 104 128 Total liabilities 127,512 113,900 104,103 Total equity 261,655 234,464 224,200 Total equity and liabilities 389,167 348,364 328,303 Consolidated statements of cash flows(in thousands of United States Dollars, unless indicated otherwise) Unaudited Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Cash inflow from operations 34,111 20,988 52,668 27,523 Interest received 11 3 17 9 Finance costs paid (623 ) (710 ) (1,166 ) (1,283 ) Tax paid (5,415 ) (1,195 ) (10,246 ) (2,276 ) Net cash inflow from operating activities 28,084 19,086 41,273 23,973 Cash flows used in investing activities Acquisition of property, plant and equipment (10,511 ) (6,897 ) (17,761 ) (10,638 ) Expenditure on exploration and evaluation assets (1,831 ) (733 ) (3,060 ) (1,163 ) Proceeds from sale of non-current asset held for sale (net of selling costs) 21,966 - 21,966 - Proceeds from the sale of property plant and equipment 17 - 17 - Acquisition of put options - (168 ) (1,592 ) (408 ) Investment in fixed term deposits (18,000 ) - (18,000 ) - Net cash used in investing activities (8,359 ) (7,798 ) (18,430 ) (12,209 ) Cash flows from financing activities Dividends paid (7,606 ) (2,912 ) (8,993 ) (5,632 ) Payment of lease liabilities (104 ) (38 ) (133 ) (75 ) Proceeds from loans and borrowings 1,259 2,032 1,259 2,032 Repayments of loans and borrowings (472 ) - (472 ) - Bonds - solar bond issue receipts (net of transaction cost) - 1,939 2,387 1,939 Net cash (used in) / from financing activities (6,923 ) 1,021 (5,952 ) (1,736 ) Net increase in cash and cash equivalents 12,802 12,309 16,891 10,028 Effect of exchange rate fluctuations on cash and cash equivalents (19 ) 485 (12 ) (362 ) Net cash and cash equivalents at the beginning of the period (4,572 ) (14,160 ) (8,668 ) (11,032 ) Net cash and cash equivalents at the end of the period 8,211 (1,366 ) 8,211 (1,366 ) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
