Latest news with #FrankWheatley
Yahoo
28-05-2025
- Business
- Yahoo
Snow Lake and Exodys Energy Collaborate to Support the Formation of a New Nuclear Reactor Development and Deployment Company
Winnipeg, Manitoba--(Newsfile Corp. - May 28, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, and Exodys Energy, a premier U.S. nuclear engineering services provider specializing in nuclear fuel recycling solutions, are pleased to announce their collaboration in supporting the formation of a new, purpose-driven nuclear reactor development and deployment company (the "Reactor Company"). This strategic alliance marks a significant step forward in enabling the delivery of clean, reliable energy solutions designed to meet the rapidly growing needs of AI-powered infrastructure and hyperscale data centers. Since announcing their Memorandum of Understanding (the "MOU") in February, 2025, the partners played a central role in shaping the Reactor Company's commercialization roadmap and integrated risk mitigation strategy. A Significant Step in Snow Lake's Nuclear Diversification Strategy This development represents a pivotal advancement in Snow Lake's ongoing diversification into the nuclear industry. Following its successful acquisitions of key uranium exploration projects in Wyoming, and a strategic investment in Global Uranium and Enrichment Limited ("GUE") (which included uranium enrichment technologies), Snow Lake is now expanding its nuclear footprint to include reactor design, development, and deployment. The leadership of the new Reactor Company will be unveiled over the coming weeks. "Our recent uranium acquisitions and equity stake in GUE demonstrate Snow Lake's commitment to becoming a full-spectrum player in the nuclear energy sector," said Frank Wheatley, CEO of Snow Lake Energy. "The incubation of this dedicated Reactor Company positions Snow Lake as one of the few vertically integrated companies in the nuclear industry - from uranium supply through to enrichment and to reactor development and deployment. This is a natural and strategic progression in our mission to power the AI-driven future with clean, reliable energy." Momentum Driven by Policy and Innovation This announcement comes at a time of unprecedented momentum for nuclear energy, driven by the four nuclear Executive Orders signed by President Trump[1] on May 23, 2025, that will streamline regulatory processes, accelerate reactor licensing, and cement domestic nuclear fuel security. These directives provide a favorable backdrop for Snow Lake's new Reactor Company and broader nuclear sector strategy. "The ongoing U.S. nuclear resurgence, bolstered by President Trump's Executive Orders, creates an extraordinary and timely opportunity for Snow Lake to lead the next wave of innovation with the Reactor Company's founding team, and supported by partners like Exodys," said Carl Perez, CEO of Exodys Energy. "Supporting Snow Lake in its technical and commercial roadmap is not merely a plan - it is a response to the urgent need to domestically scale and deploy nuclear power reactors. Together, we are committed to building a resilient and circular nuclear ecosystem to power the future." Snow Lake's First Principles Approach Since the initial announcement of the partnership and execution of the MOU in February 2025, both companies and the scouted founding team have thoroughly discussed reactor development risks and deployment considerations to determine the path of least resistance with the highest financial return. As a result, the new Reactor Company is opting for a pragmatic approach to advanced nuclear development by focusing on a small modular reactor (SMR) design based on existing and mature pressurized water reactor (PWR) technology. This enables it to leverage the deep expertise and industrial infrastructure associated with PWR reactors - ensuring strong regulatory readiness, a mature supply chain, time-tested technology, and established operator training pipelines. Snow Lake is therefore centered on driving the most rapid and reliable path to generating nuclear power. In partnering with Exodys Energy, Snow Lake is anticipating the challenges that advanced reactors will face in regards to spent nuclear fuel storage and management costs-further amplifying its unique foresighted and comprehensive approach. Exodys Energy will provide technical guidance, as it relates to fuel cycle considerations and targeted reactor engineering support Snow Lake will drive commercial execution, integrating its uranium assets, strategic equity positions in GUE, and strong market presence to advance the new Reactor Company's goals Key leadership roles in the new Reactor Company will be filled by seasoned technology leaders with decades of engineering experience across both current and advanced reactor technologies. Full details will be announced in the coming weeks "This is just the beginning," added Frank Wheatley. "As we deepen our nuclear partnerships, we have grown increasingly acclimated to the success factors driving this industry. Our approach is simple and focused: energy must be delivered. To meet this challenge, we are building on a proven playbook of development and deployment, alongside a proven executive team, to kickstart our path to generating nuclear energy. In addition, the collaboration with Exodys Energy ensures the anticipation of spent fuel management challenges and its revenue potential. Snow Lake's vertical integration strategy positions us to earn revenue throughout the value chain and reactor asset life - before, during, and after reactor operations." 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. Learn more at About Exodys Energy Inc. Exodys Energy is a pioneering U.S. nuclear engineering services company commercializing innovative fuel reprocessing and waste minimization solutions. With a world-class team of experts in nuclear chemistry, waste vitrification, and reactor design support, Exodys is focused on unlocking the full energy potential of slightly used nuclear fuel. By transforming traditional waste liabilities into valuable fuel assets, Exodys is setting a new standard for sustainability and circularity in the nuclear sector. Investor Relations Frank Wheatley, CEOir@ Exodys Energy Media Relationsinfo@ Broadway, 5th FlNew York, NY 10006 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. [1] Deploying Advanced Nuclear Reactor Technologies for National Security - The White House To view the source version of this press release, please visit
Yahoo
28-05-2025
- Business
- Yahoo
Snow Lake and Exodys Energy Collaborate to Support the Formation of a New Nuclear Reactor Development and Deployment Company
Winnipeg, Manitoba--(Newsfile Corp. - May 28, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, and Exodys Energy, a premier U.S. nuclear engineering services provider specializing in nuclear fuel recycling solutions, are pleased to announce their collaboration in supporting the formation of a new, purpose-driven nuclear reactor development and deployment company (the "Reactor Company"). This strategic alliance marks a significant step forward in enabling the delivery of clean, reliable energy solutions designed to meet the rapidly growing needs of AI-powered infrastructure and hyperscale data centers. Since announcing their Memorandum of Understanding (the "MOU") in February, 2025, the partners played a central role in shaping the Reactor Company's commercialization roadmap and integrated risk mitigation strategy. A Significant Step in Snow Lake's Nuclear Diversification Strategy This development represents a pivotal advancement in Snow Lake's ongoing diversification into the nuclear industry. Following its successful acquisitions of key uranium exploration projects in Wyoming, and a strategic investment in Global Uranium and Enrichment Limited ("GUE") (which included uranium enrichment technologies), Snow Lake is now expanding its nuclear footprint to include reactor design, development, and deployment. The leadership of the new Reactor Company will be unveiled over the coming weeks. "Our recent uranium acquisitions and equity stake in GUE demonstrate Snow Lake's commitment to becoming a full-spectrum player in the nuclear energy sector," said Frank Wheatley, CEO of Snow Lake Energy. "The incubation of this dedicated Reactor Company positions Snow Lake as one of the few vertically integrated companies in the nuclear industry - from uranium supply through to enrichment and to reactor development and deployment. This is a natural and strategic progression in our mission to power the AI-driven future with clean, reliable energy." Momentum Driven by Policy and Innovation This announcement comes at a time of unprecedented momentum for nuclear energy, driven by the four nuclear Executive Orders signed by President Trump[1] on May 23, 2025, that will streamline regulatory processes, accelerate reactor licensing, and cement domestic nuclear fuel security. These directives provide a favorable backdrop for Snow Lake's new Reactor Company and broader nuclear sector strategy. "The ongoing U.S. nuclear resurgence, bolstered by President Trump's Executive Orders, creates an extraordinary and timely opportunity for Snow Lake to lead the next wave of innovation with the Reactor Company's founding team, and supported by partners like Exodys," said Carl Perez, CEO of Exodys Energy. "Supporting Snow Lake in its technical and commercial roadmap is not merely a plan - it is a response to the urgent need to domestically scale and deploy nuclear power reactors. Together, we are committed to building a resilient and circular nuclear ecosystem to power the future." Snow Lake's First Principles Approach Since the initial announcement of the partnership and execution of the MOU in February 2025, both companies and the scouted founding team have thoroughly discussed reactor development risks and deployment considerations to determine the path of least resistance with the highest financial return. As a result, the new Reactor Company is opting for a pragmatic approach to advanced nuclear development by focusing on a small modular reactor (SMR) design based on existing and mature pressurized water reactor (PWR) technology. This enables it to leverage the deep expertise and industrial infrastructure associated with PWR reactors - ensuring strong regulatory readiness, a mature supply chain, time-tested technology, and established operator training pipelines. Snow Lake is therefore centered on driving the most rapid and reliable path to generating nuclear power. In partnering with Exodys Energy, Snow Lake is anticipating the challenges that advanced reactors will face in regards to spent nuclear fuel storage and management costs-further amplifying its unique foresighted and comprehensive approach. Exodys Energy will provide technical guidance, as it relates to fuel cycle considerations and targeted reactor engineering support Snow Lake will drive commercial execution, integrating its uranium assets, strategic equity positions in GUE, and strong market presence to advance the new Reactor Company's goals Key leadership roles in the new Reactor Company will be filled by seasoned technology leaders with decades of engineering experience across both current and advanced reactor technologies. Full details will be announced in the coming weeks "This is just the beginning," added Frank Wheatley. "As we deepen our nuclear partnerships, we have grown increasingly acclimated to the success factors driving this industry. Our approach is simple and focused: energy must be delivered. To meet this challenge, we are building on a proven playbook of development and deployment, alongside a proven executive team, to kickstart our path to generating nuclear energy. In addition, the collaboration with Exodys Energy ensures the anticipation of spent fuel management challenges and its revenue potential. Snow Lake's vertical integration strategy positions us to earn revenue throughout the value chain and reactor asset life - before, during, and after reactor operations." 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. Learn more at About Exodys Energy Inc. Exodys Energy is a pioneering U.S. nuclear engineering services company commercializing innovative fuel reprocessing and waste minimization solutions. With a world-class team of experts in nuclear chemistry, waste vitrification, and reactor design support, Exodys is focused on unlocking the full energy potential of slightly used nuclear fuel. By transforming traditional waste liabilities into valuable fuel assets, Exodys is setting a new standard for sustainability and circularity in the nuclear sector. Investor Relations Frank Wheatley, CEOir@ Exodys Energy Media Relationsinfo@ Broadway, 5th FlNew York, NY 10006 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. [1] Deploying Advanced Nuclear Reactor Technologies for National Security - The White House To view the source version of this press release, please visit 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
Yahoo
15-05-2025
- Business
- Yahoo
Exploration Program for the Flagship Pine Ridge Uranium Project In Wyoming's Prolific Powder River Basin
Priority Targets Identified, ~38,000m Drill Program Anticipated to Start in July 2025 Winnipeg, Manitoba--(Newsfile Corp. - May 15, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces that an exploration program for the Pine Ridge Uranium Project ("Pine Ridge") in the Powder River Basis in Wyoming, held by Snow Lake and Global Uranium and Enrichment Limited ("GUE") in a 50 / 50 joint venture (the "Joint Venture"), has been developed. Highlights Pine Ridge is an In-Situ Recovery (ISR) uranium project located in the Powder River Basin, Wyoming and primed for accelerated development Powder River Basin, Wyoming is the leading uranium-producing region in the U.S., supported by a favourable regulatory environment and streamlined permitting processes Utilising the existing 1,214 drill holes on Pine Ridge, the Joint Venture team is developing a complete geological model (that includes 335 km of redox boundaries), and has developed a detailed exploration program to rapidly advance Pine Ridge Drill program is expected to start in July 2025, will focus on numerous target areas, and will be comprised of ~38,000m (125,000 ft) of drilling CEO Remarks "The potential for Pine Ridge to become a tier-one uranium asset in the United States is precisely the reason why we entered into the 50/50 joint venture with Global Uranium and Enrichment Limited (GUE)" said Frank Wheatley, CEO of Snow Lake. "The tireless work by GUE over the past 12 months to secure Pine Ridge, and to dramatically expand the project footprint, sets the stage for the initiation of a maiden drill program by our joint venture at Pine Ridge." Overview - Pine Ridge Exploration Program The Joint Venture has consolidated the existing historical data on the project area and integrated it with available public information from nearby projects to develop a 3D model of the known mineralization and potential mineralisation. The results of this data compilation and evaluation led to the staking of an additional 937 claims at Pine Ridge, and increasing the Joint Venture's landholding, to a total of approximately 15,130 ha (37,387 acres). In addition, the understanding and results from the data compilation and geological review have guided the prioritisation of drill targets in the area (shown in red below), with approximately 38,000m (125,000 ft) of drilling to be completed inside these areas during the initial exploration program. Figure 1: Priority Areas for 2025 Exploration Program at Pine Ridge To view an enhanced version of this graphic, please visit: Historically, Conoco drilled 765 holes, and Stakeholder Energy drilled an additional 449 holes, into the project area. Their drill campaigns were primarily designed to continue building on the geologic understanding of the project while testing key areas for uranium potential. The results from these drill campaigns allowed Stakeholder to develop a model that included 335 km of redox boundaries hosted in stacked horizons within the Tertiary sandstones. This interpretation is further supported by adjacent, ISR properties with published resources. Geologists for the previous vendors of Pine Ridge measured 350 sandstone outcrops on the south and west sides of the project area under the direction of Dr. Kent Sundell, Geology Professor Emeritus at Casper College. The purpose of the exercise was to better understand the geologic characteristics of the stacked sandstones and the paleo-river system that deposited the sands. SOLA Project Services will be contracted by the Joint Venture to provide technical and project support. A principal with SOLA, Mr. Bryan Soliz, has significant experience and expertise in the region, highlighted by more than 25 years of exploration and production work in the Powder River Basin, including at the adjacent Smith Ranch project operated by Cameco. The selection of drill contractors and geophysical contractors is currently underway. Permit approvals are expected in late June and the drill program will commence shortly after the permit is received. Overview - Pine Ridge Pine Ridge is an In-Situ Recovery (ISR) uranium project located in the southwestern Powder River Basin of Wyoming, the premier U.S. uranium basin. Historically, the Powder River Basin is the most significant area for uranium production in U.S. via ISR production methods. Pine Ridge is surrounded by existing uranium projects held by UEC and Cameco and is also located only ~15km from Cameco's Smith Ranch Mill which has licensed capacity of 5.5Mlbs U3O8 p.a. The Smith Ranch mill is one of the largest uranium production facilities in the U.S. Figure 2: Pine Ridge Uranium Project and Adjacent Properties To view an enhanced version of this graphic, please visit: Pine Ridge is a uranium project of potential significant scale with a large JORC 2012 exploration target. For more information on this exploration target, please refer to GUE's website1. Pine Ridge has been significantly de-risked through historic drilling and has an ideal geological foundation to be developed into a production 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. Learn more at 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@ Follow us on Social MediaTwitter: 1 To view the source version of this press release, please visit 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
Associated Press
13-05-2025
- Business
- Associated Press
Snow Lake Secures Strategic Stake in North America's Largest Undeveloped Rare Earths Project Amid Global Supply Chain Pressures
Winnipeg, Manitoba--(Newsfile Corp. - May 13, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ('Snow Lake'), is pleased to announce a cornerstone investment in Commerce Resources Corp (TSXV: CCE), ('Commerce'), to advance its Ashram Rare Earths Project - the largest undeveloped Rare Earths Project in North America. This investment comes at a critical moment for the global technology supply chains, as the world's dependency on China—currently responsible for approximately 90% of all processed rare earth output—faces mounting pressure. Beijing's recent tightening of export controls on key REEs, including rare earth magnets, has further accelerated the race among Western governments and companies to establish secure, domestic sources of critical minerals. Highlights 1 CEO Remarks 'This is more than a financial investment—it's a strategic move to help secure North America's rare earth future,' said Frank Wheatley, CEO of Snow Lake. 'As the U.S. and its allies prioritize supply chain independence from China, the Ashram Project stands out as one of the most significant and advanced domestic REE opportunities on the continent.' 'As a clean energy and critical metals company, we believe our investment in Commerce Resources Corp. provides us with a strategic toehold in the largest undeveloped rare earth element project in North America 'The merger of Commerce and Mont Royal will create a well-funded Canadian-focused critical metals company with an excellent portfolio of rare earth element projects at an advanced stage of exploration. With the global race for rare earth elements accelerating amid international trade tensions, accentuated by certain rare earths export controls imposed by the Chinese who produce ~90% of the global supply of processed rare earths, we believe that supporting Commerce in this merger with Mont Royal will provide the merged entity with the capabilities to advance development of the Ashram Project to the benefit of Commerce's, Mont Royal's and Snow Lake's shareholders. As global trade continues to experience significant volatility and uncertainty, we believe developing a North American deposit of rare earth minerals directly supports the U.S. Administrations policies regarding securing a steady supply of rare earths and critical minerals.' The Strategic Imperative Rare earth elements are indispensable to EV motors, wind turbines, defense systems, and high-tech electronics. With China's dominance increasingly seen as a national security concern, the U.S. Administration has launched multiple programs to localize critical mineral supply chains, including REEs. Snow Lake's investment helps fill that gap by supporting the Ashram Project's progress toward production, while aligning with both Canadian and U.S. objectives to de-risk mineral inputs for clean energy and defense technologies. Commerce Resources Corp. - Interim Convertible Note Financing Commerce is undertaking a secured convertible note ('Convertible Notes') financing to raise up to C$2.2 million to provide interim funding to be used for the continuation of studies for the development of the Ashram Project and for working capital while the Merger is completed. The Convertible Note Financing is necessary and integral for the Transaction. Snow Lake has agreed to purchase C$1.1million of the Convertible Notes. A summary of the key terms of the Convertible Notes are set out below: The Convertible Note Financing completed on April 12, 2025. Merger Rationale The Merger will create a Québec-focused critical minerals explorer and developer through the combination of Commerce's Ashram Project and the Eldor Niobium exploration project and Mont Royal's Northern Lights Lithium Project (the 'Merged Group'). The merger will result in a dual listing on the TSX Venture Exchange (the 'TSXV') and the Australian Securities Exchange (the 'ASX'), enabling greater access to liquidity and funding for the Ashram Project, with the combined entity bringing together highly experienced members of the management teams of each company with strong capital markets experience, project development and operational expertise. In addition to Commerce's existing assets in Canada, key highlights of the Merger include: CAUTIONARY NOTE CONCERNING THE USE OF MINERAL RESERVE AND MINERAL RESOURCE ESTIMATES As a registrant with the United States Securities and Exchange Commission ('SEC'), Snow Lake must report its exploration results, mineral resources, and mineral reserves using the mining disclosure standards of Subpart 229.1300 of Regulation S-K Disclosure by Registrants Engaged in Mining Operations ('S-K 1300"). S-K 1300 is a rule developed by the SEC, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. The terms 'mineral resource', 'measured mineral resource', 'indicated mineral resource' and 'inferred mineral resource' are defined in accordance with S-K 1300. Readers are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into a higher category of mineral resources or mineral reserves. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. Under S-K1300, an inferred mineral resource may not be considered when assessing the economic viability of a mining project, and may not be converted to a mineral reserve. As a Canadian junior mineral resource company, Commerce does not need to report its exploration results, mineral resources, and mineral reserves using S-K 1300. Instead, it reports in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ('NI 43-101"). NI 43-101 is a rule developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. The terms 'mineral resource', 'measured mineral resource', 'indicated mineral resource' and 'inferred mineral resource' are defined in accordance with NI 43-101. Readers are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into a higher category of mineral resources or mineral reserves. 'Inferred mineral resources' have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in very limited circumstances. While S-K 1300 uses the same terminology for mineral reserves and mineral resources as NI 43-101, the definitions, while similar, are not identical to NI 43-101. Accordingly, information included in this press release concerning mineral resources of Commerce in accordance with NI 43-101 may not be comparable to similar information prepared in accordance with S-K 1300. About Commerce Resources Corp. Commerce (TSXV: CCE) is a Canadian junior mineral resource company focused on the exploration and development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. Commerce is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. Additionally, the Ashram Deposit has a fluorspar component which makes it one of the largest potential sources of fluorspar in the world and could be a long-term supplier to the met-spar and acid-spar markets. For more information on Commerce, please visit their website 3. About Mont Royal Resources Limited Mont Royal Resources Limited (ASX: MRZ) is an Australian company that owns 75% of Northern Lights Minerals 536km 2 tenement package located in the Upper Eastmain Greenstone belt in Quebec. This project is located in the emerging James Bay area, a Tier-1 mining jurisdiction of Quebec, Canada, and are prospective for lithium, precious (Gold, Silver) and base metals mineralization (Copper, Nickel). For further information on Mont Royal, please visit their website 4. 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. Learn more at 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. 1Commerce Resources and Mont Royal Resources Enter into Arrangement Agreement to create a Canadian-Focused Critical Minerals Development Company - Commerce Resources 2 Due to its simple gangue and well-understood rare earth mineralogy, the Ashram Deposit is able to produce high-grade mineral concentrates at high recovery (>40% TREO at >75% recovery), in line with active global producers. - 3Home - Commerce Resources To view the source version of this press release, please visit
Associated Press
29-04-2025
- Business
- Associated Press
Pine Ridge Project Significantly Expanded
Winnipeg, Manitoba--(Newsfile Corp. - April 29, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ('Snow Lake'), a uranium exploration and development company, announces that Snow Lake's joint venture with Global Uranium and Enrichment Limited ('GUE') has significantly expanded the Pine Ridge Uranium Project ('Pine Ridge') landholding in the Powder River Basin in Wyoming. Highlights CEO Remarks 'The expansion of the landholding at Pine Ridge is a strategic step with our joint venture partner Global Uranium and Enrichment Limited to enhance our position in the Powder River Basin' said Frank Wheatley, CEO of Snow Lake. 'We look forward to shortly starting the 2025 exploration season at Pine Ridge across this expanded footprint in order to start unlocking the full value of Pine Ridge.' Pine Ridge Uranium Project The Pine Ridge Uranium Project is an advanced In-Situ Recovery (ISR) uranium project located in the southwestern Powder River Basin of Wyoming, the premier U.S. uranium basin. Historically, the Powder River Basin is the most significant area for uranium production in the U.S. primarily via ISR production methods. The Project is surrounded by existing uranium projects held by UEC and Cameco and is also located only ~15km from Cameco's Smith Ranch Mill which has licensed capacity of 5.5Mlbs U 3 O 8 p.a. The Smith Ranch mill is one of the largest uranium production facilities in the U.S. Historical drilling conducted by the vendors and prior operators of Pine Ridge, combined with recent geological modelling, highlights the strong potential for further uranium mineralisation in these areas. In particular, updated modelling of redox boundaries suggests a substantial increase in prospective strike length, from approximately 225 km to nearly 435 km as shown in Figure 2. [ This image cannot be displayed. Please visit the source: ] Figure 1: Pine Ridge New Mineral Claims and Adjacent Projects To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 2: Pine Ridge Redox Boundaries To view an enhanced version of this graphic, please visit: 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. Learn more at 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. To view the source version of this press release, please visit
