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5 days ago
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Snow Lake Comments on Maiden High Grade Mineral Resource Estimate for the Maybell Uranium Project in Colorado
Winnipeg, Manitoba--(Newsfile Corp. - August 6, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, comments that Global Uranium and Enrichment Limited ("GUE"), in which Snow Lake holds a strategic 19.9% interest, has announced the completion of a JORC 2012 maiden mineral resource estimate at its Maybell uranium project ("Maybell") located in Colorado, United States. 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 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
Associated Press
5 days ago
- Business
- Associated Press
Snow Lake Comments on Maiden High Grade Mineral Resource Estimate for the Maybell Uranium Project in Colorado
Winnipeg, Manitoba--(Newsfile Corp. - August 6, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ('Snow Lake'), a uranium exploration and development company, comments that Global Uranium and Enrichment Limited ('GUE'), in which Snow Lake holds a strategic 19.9% interest, has announced the completion of a JORC 2012 maiden mineral resource estimate at its Maybell uranium project ('Maybell') located in Colorado, United States. Highlights 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 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 2 To view the source version of this press release, please visit
Yahoo
25-07-2025
- Business
- Yahoo
Exploration Drilling Underway at the Pine Ridge Uranium Project In the Powder River Basin, Wyoming
Winnipeg, Manitoba--(Newsfile Corp. - July 25, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces that its initial exploration drill program is now underway at the Pine Ridge Uranium Project in Wyoming ("Pine Ridge"), a 50/50 joint venture (the "Joint Venture") with Global Uranium and Enrichment Limited ("GUE"). Pine Ridge is located in the Powder River Basin in Wyoming, the most significant area for uranium production in the U.S., primarily via ISR production methods. The Joint Venture's maiden drill program at Pine Ridge, consisting of ~38,000m (125,000ft) of drilling, will focus on testing high priority targets. Highlights Drill permit approval received from Wyoming Department of Environmental Quality (DEQ) for the maiden drill program at the Pine Ridge. Pine Ridge is a near-development In-Situ Recovery (ISR) uranium project located in the heart of Wyoming's prolific Powder River Basin and primed for rapid advancement. A large and aggressive drill program of ~38,000m (125,000ft) began this week with high priority drill targets identified. Pine Ridge is located ~15km from Cameco's Smith Ranch Mill and is surrounded by established uranium projects held by UEC and Cameco. CEO Remarks "We are delighted to have begun our drilling campaign at Pine Ridge," said Frank Wheatley, CEO of Snow Lake. "Our Joint Venture team has reviewed all of the historical drilling data for Pine Ridge and has defined a series of high-priority drill targets. The current drill campaign contemplates up to 38,000 meters of drilling designed to establish a data base sufficient to calculate a maiden mineral resource estimate prior to the end of 2025." "As we continue to note, the U.S. needs new uranium mines. We are excited to begin our drill program at Pine Ridge, which we feel has all the characteristics of a leading U.S based uranium development project that holds the potential to positively contribute to satisfying the U.S. goals of increasing domestic production of uranium." Pine Ridge Uranium Project - Overview Pine Ridge is a near development In-Situ Recovery (ISR) uranium project located in the southwestern Powder River Basin of Wyoming, the premier U.S. uranium basin. 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 1: Drill Rig at Pine Ridge To view an enhanced version of this graphic, please visit: Exploration Program Overview The Drilling Permit has been received from Wyoming DEQ and the drill program has begun. Single Water Services LLC will conduct the drilling program and has successfully completed numerous previous drilling campaigns at Pine Ridge. Their familiarity is expected to support an efficient and well executed program, with the potential addition of a second rig to accelerate progress. A contract has also been signed with Hawkins CBM Logging, Inc. from Cody, Wyoming. Hawkins has undertaken a significant amount of geophysical probing in the Powder River Basin. Figure 2: Pine Ridge Uranium Project and Adjacent Properties To view an enhanced version of this graphic, please visit: Bryan Soliz, owner of SOLA Project Services, has been contracted by the Joint Venture and is leading the geologic and mineralization modeling and is correlating uranium roll fronts among multiple sandstone packages. Mr. Soliz has significant experience and expertise in the region, highlighted by more than 25 years of exploration and production experience in the Powder River Basin, including at the adjacent Smith Ranch project operated by Cameco. The geologic modeling has guided the identification of high-priority drill targets in the area (shown below in red) with approximately 38,000m (125,000 ft) of drilling to be completed inside these areas during the initial exploration program. Figure 3: Priority Areas for 2025 Exploration Program at Pine Ridge 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, as well as investments in a number of public companies with critical minerals assets. 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: To view the source version of this press release, please visit
Yahoo
22-07-2025
- Business
- Yahoo
Snow Lake Acquires Strategic Stakes in Multiple U.S. Critical Minerals Projects
Winnipeg, Manitoba--(Newsfile Corp. - July 22, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, provides an update on its equity investment strategy regarding North American, and in particular U.S. based, critical minerals projects that hold the potential to be fast-tracked into production, and which will benefit from new U.S. Administration policies designed to accelerate domestic U.S. production of critical minerals. Highlights Uranium – Equity investment in GTi Energy Limited, which has recently announced a positive scoping study and updated resource estimate on its Lo Herma uranium project, located immediately to the south of Snow Lake's Pine Ridge uranium project in the Powder River Basin in Wyoming Antimony – A strategic investment in Resolution Minerals Ltd., which holds the Horse Heaven ("Horse Heaven Project") antimony/tungsten/gold project in Idaho, immediately adjacent to Perpetua Resources Corp's ("Perpetua") Stibnite Gold Project ("Stibnite Project"). The USD$2.2 billion Stibnite Project is the only domestic U.S. source of antimony that can meet U.S. defense needs for many small arms, munitions, and missile types, and which is anticipated to provide ~35% of the U.S.'s antimony requirements Rare Earths – An equity position in Commerce Resources Corp., which holds 100% of the Ashram rare earth elements ("REE") project in Northern Quebec, which is a globally significant REE deposit and one of the largest monazite-mineralized carbonatite REE deposits in the world Unprecedented U.S. Government, Industry & Public Support – U.S. Government, industry, and the public, have recently demonstrated their strong support for U.S. domestic critical mineral production through the following investments in MP Materials Corp: USD$400 million investment by the U.S. Department of Defence USD$500 million investment by Apple USD$650 million public offering all designed to accelerate U.S. rare earth magnet independence Continued Search for Opportunistic Strategic Investments – Snow Lake continues its search for opportunities to acquire interests in U.S. based critical minerals projects with potential to be fast-tracked into production, which can benefit from U.S. Administration policies and funding to build out domestic supply chains of critical metals, and which hold the potential to create substantial value for Snow Lake shareholders CEO Remarks "We have a well-defined investment strategy to target opportunities in critical minerals projects, located primarily in the U.S., as well as in close allies and trading partners, in order to take advantage of unprecedented U.S. policies designed to build out the domestic U.S. supply chain for critical metals," said Frank Wheatley, CEO of Snow Lake. "We see our investments in uranium powering the electrical grid needed to meet the unprecedented demand for electricity generated by the global AI arms race, our investments in antimony supplying critical metals for U.S. defense needs, and rare earths to assist in the U.S. goal of rare earth magnet independence." Mr. Wheatley continued: "We firmly believe we are witnessing a once in a generation opportunity to align Snow Lake with U.S. strategic interests and deliver long-term shareholder value." Snow Lake's Critical Minerals Investments Uranium – GTi Energy Limited Snow Lake has agreed to invest AUD$1.4million in GTi Energy's AUD$4.5 million equity financing (the "Financing") to support advancement of its 100% owned Lo Herma ISR amenable uranium project ("Lo Herma") located in the Powder River Basin in Wyoming, the leading uranium producing state in the U.S. GTi Energy recently completed a positive scoping study (the "Scoping Study") on Lo Herma in accordance with JORC (2012)1, which is a preliminary technical and economic assessment of the potential viability of Lo Herma. For more information on the scoping study, see GTi Energy's ASX Announcement dated June 5, 2025.2 The Scoping Study contemplated an ISR operation with a central processing plant, a JORC (2012) resource estimate of 8.7Mlbs U3O8, a 7-year mine life, an annual production target of 800,000 lbs U3O8 ,with an NPV of A$100 million and a pre-tax IRR of 56%. Lo Herma is one of the more advanced development stage uranium projects in the Powder River Basin, and further development holds the potential to increase the uranium production profile of the Powder River Basin in Wyoming. The Financing provides GTi Energy with the financial runway to advance Lo Herma through the next phase of drilling and fieldwork, aimed at expanding and upgrading the project's mineral resource base Antimony – Resolution Minerals Ltd. Snow Lake has recently acquired a strategic stake exceeding 5% in Resolution Minerals Ltd. ("RML"). RML holds the Horse Heaven Project in Idaho, directly bordering Perpetua's fully federally permitted Stibnite Gold-Antimony Project. The Horse Heaven Project is a historical tungsten and antimony mine, producing those minerals during WWI, WWII, and the Korean War. The geology of the Horse Heaven Project is similar to that of the Stibnite Project, with geochemical soil signatures similar in size, share and values. A drill program planned to begin in August 2025 is fully permitted. Perpetua's Stibnite Project Perpetua's Stibnite Project is projected to be one of the highest-grade open-pit gold mines in the U.S., with gold reserves of approximately 4.8 million ounces, and is expected to produce approximately 450,000 ounces of gold annually over its first four years of production. Additionally, the Stibnite Project holds an estimated 148-million-pound antimony reserve – the only identified antimony reserve in the U.S. and one of the largest reserves outside of Chinese control. It is estimated the Stibnite Project could meet about 35% of U.S. antimony demand during its initial six years of production, based on the 2023 USGS antimony commodity summary. Antimony is classified as a critical mineral essential for technology, defense, and energy applications. In late 2024, China, which accounts for nearly half of global antimony production, cut off global antimony exports, including to the U.S. Developing a domestic source of antimony through the Stibnite Project can help bolster America's strategic mineral security and independence. Perpetua has received all federal permits required to commence construction. It is currently in the process of finalizing all state permits and securing project financing to begin construction. Perpetua recently closed its USD$425 million equity financing, which together with debt financing from Export-Import Bank of the United States, and royalty financing, should provide Perpetua with sufficient capital to fund the USD$2.2 billion construction cost. Rare Earths - Commerce Resources Corp. Snow Lake holds a cornerstone investment in Commerce Resources Corp ("Commerce"), which Commerce will use to advance its Ashram Rare Earth and Fluorspar Project in Quebec (the "Ashram Project") the largest undeveloped rare earths project in North America. Snow Lake has invested C$1.1million in Commerce's C$2.2 million secured convertible note financing (the "Convertible Note Financing") to support advancement of the Ashram Project and Commerce's strategic merger with Mont Royal Resources Limited. Commerce owns 100% of the Ashram Project and it is one of the world's largest monazite-dominant carbonatite-hosted rare earth elements deposits with a NI 43-101 resource of 204.3 million tonnes averaging ~1.94% Total Rare Earth Oxides (TREO). (73.2 million indicated tonnes averaging 1.89% TREO and 131.1 million inferred tonnes at 1.98% TREO). Ashrams' mineralogy enables high-grade concentrate production at high recovery rates, a rare technical advantage that aligns it with the capabilities of current global producers.3 Commerce also owns 100% of the Eldor Niobium Project, located immediately adjacent to the south-east of the Ashram Project, and which is considered to be an advanced exploration stage project. As of the date of the merger agreement between Commerce and Mont Royal Resources Limited ("Mont Royal") (before taking into account the capital raise by Mont Royal and the Convertible Note Financing), the existing shareholders of Commerce and shareholders of Mont Royal will own 85.3% and 14.7%, respectively, of the outstanding shares of Mont Royal following completion of the merger Unprecedented U.S. Government, Industry & Public Support for Critical Minerals Throughout the first six months of the current U.S. Administration's term, it has issued a number of executive orders that directly support the development of nuclear energy, and the domestic production of critical minerals. Following on these executive orders, the U.S. Government, industry and the investing public, have recently demonstrated their extremely strong support for U.S. domestic critical mineral production through a series of recent investments in MP Materials Corp ("MP"). These investments in MP include: USD$400 million investment by the U.S. Department of Defence USD$500 million investment by Apple USD$650 million public offering These investments in MP are designed to facilitate the domestic production of permanent rare earth magnets in order to reduce the U.S.'s dependence on China for both rare earths and magnets, and move the U.S. closer to magnet independence. Apple's investment in MP highlights industry's support to diversify their global supply chains, and the public's support of MP's recent public offering demonstrates the belief in the ability of MP to deliver long-term shareholder value. 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 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: 1The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ("the JORC Code") 2012 edition.2https:// 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. - To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
02-07-2025
- Business
- Yahoo
Drill Rigs Set to Commence Major Exploration Program at Pine Ridge Uranium Project
Winnipeg, Manitoba--(Newsfile Corp. - July 2, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces that its 50/50 joint venture (the "Joint Venture") with Global Uranium and Enrichment Limited ("GUE"), has selected Single Water Services LLC ("Single Drilling") to execute its initial drilling program at the Pine Ridge Uranium Project in Wyoming ("Pine Ridge"). Highlights Drill rigs set to commence as the Joint Venture launches a major ~38,000m (125,000ft) drill campaign at its flagship Pine Ridge uranium project Drill contractors officially engaged with operations commencing on July 21, 2025 Drill program will systematically test numerous high priority targets to fast-track delineation of ISR-amenable uranium resources Pine Ridge is a near development In-Situ Recovery ("ISR") uranium project located in the heart of Wyoming's prolific Powder River Basin primed for rapid advancement CEO Remarks "We continue to advance the Pine Ridge Uranium Project with the selection of Single Drilling to undertake an expansive drill program at Pine Ridge," said Frank Wheatley, CEO of Snow Lake. "Single Drilling is very familiar with Pine Ridge as they conducted a significant portion of the historical drilling at Pine Ridge." Mr. Wheatley continued: "With global demand for electricity continuing to rapidly expand, driven in part by the AI arms race between the U.S. and China, nuclear energy continues to emerge as a clean, reliable and cost-effective solution to satisfy this demand. Bolstered by the U.S. Administration's support for nuclear energy, we feel Pine Ridge has all the characteristics of a leading uranium development project." Drill Program at Pine Ridge The Joint Venture has selected Single Drilling to execute its initial drilling program at Pine Ridge. Single Drilling brings extensive operational experience, having successfully completed numerous previous drilling campaigns at the Pine Ridge site. Their familiarity with Pine Ridge is expected to support an efficient and well-executed program, with the potential addition of a second rig to accelerate progress. In addition, the Joint Venture has engaged Hawkins CBM Logging, Inc. as the geophysical contractor to provide specialized support for the drill program. Pine Ridge is an advanced ISR opportunity of significant scale within the Powder River Basin of Wyoming, the premier US uranium basin. It is also located in one of the most mining friendly states. Pine Ridge has been significantly de-risked through historical drilling and has an ideal geological foundation to be developed into a production asset. The 2025 exploration program will focus on testing high-priority target areas, with approximately 38,000 m (125,000 ft) of drilling to be completed to rapidly advance the project. The determination of targets has been guided by extensive data compilation from prior historical drilling and geological review. The expected start date for drilling is July 21, 2025 with drilling permits expected to be received imminently. Overview - Pine Ridge Pine Ridge is an advanced ISR uranium project located in the southwestern Powder River Basin of Wyoming, the premier U.S. uranium basin. Figure 1: Pine Ridge Uranium Project and Adjacent Properties To view an enhanced version of this graphic, please visit: 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. 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. 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 mineralization. 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 has guided the development of high-priority drill targets in the area (shown in red below), with approximately 38,000 m (125,000 ft) of drilling to be completed inside these areas during the initial exploration program. Figure 2: Priority Areas for 2025 Exploration Program at Pine Ridge To view an enhanced version of this graphic, please visit: Conoco drilled 765 holes into the project area and the prior owners of Pine Ridge drilled an additional 449 holes. 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 the prior owners 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. 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 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 while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
