Latest news with #PowderRiverBasin
Globe and Mail
3 days ago
- Business
- Globe and Mail
Noble Plains Uranium Closes on Duck Creek Project in the Heart of Powder River Basin
Exploration Target Range Supported by New NI 43-101 Technical Report Vancouver, British Columbia--(Newsfile Corp. - August 14, 2025) - Noble Plains Uranium Corp. (TSXV: NOBL) (OTCQB: NBLXF) (FSE: INE0) (" Noble Plains" or the " Company") is pleased to announce that it has closed on the property option agreement to acquire an 80% interest in the Duck Creek Project (" Duck Creek Property", " Duck Creek", the " Project", or the " Property"), a strategically located brownfield uranium asset in Wyoming's highly productive Powder River Basin (the " PRB"). The option closing coincides with a newly completed National Instrument 43-101 (" NI 43-101") technical report prepared for UNXE238 Corp. (the " Optionor") by independent firm Western Water Consultants, Inc d/b/a WWC Engineering of Sheridan, Wyoming (" WWC"). The report highlights an Exploration Target of between 2.37 million tons at 0.03% U₃O₈ and 5.45 million tons at a grade of 0.05% U₃O₈ based on historical drilling. The potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource. "This is a further example of our team executing on its strategy to identify high-quality brownfield assets in the best U.S. uranium districts, use strong historic data to accelerate de-risking, and advance them quickly toward compliant resources," said Drew Zimmerman, President of Noble Plains Uranium. "With Duck Creek now secured along with a new NI 43-101, we are positioned to rapidly deliver meaningful pounds in the ground, building real leverage for our shareholders as the uranium market continues to strengthen." Duck Creek Project Highlights Scale & Location: 4,133 acres (6.5 sq. mi.) of mineral rights, surrounded by major uranium projects and production facilities owned by Cameco, Uranium Energy Corp., Global Uranium and Enrichment, and GTI Energy, Extensive Historical Work: Over 4,000 drill holes, including a 3-mile trend of shallow roll-front uranium mineralization, Historic Drill Intercepts: include 8.9 feet grading 0.75% U₃O₈ and 13.9 feet of 0.47% U₃O₈, Historic Production: Past open-pit mining evident along and beyond the mineralized trend, Significant Exploration Potential: untested deeper Fort Union Formation. In the Heart of a Growing Production Corridor Located in one of the most prolific in-situ recovery (" ISR") uranium districts in the United States, Duck Creek is directly surrounded by major deposits and production facilities owned by Cameco Corporation, Uranium Energy Corp., and GTI Energy Limited (see Figure 1). The Project's extensive historical database, favourable geology, and proximity to existing infrastructure present a rare opportunity to advance a uranium project in a proven production hub. Figure 1: Duck Creek Project Surrounded by resource and production projects To view an enhanced version of this graphic, please visit: Note: source of resource numbers in Figure 1: Allemand-Ross, Barge, and Ludeman projects, from 2022-09 technical report Exhibit 96.1. Smith Ranch Highland, from Cameco website. Lo Herma, from company website. Technical and scientific information disclosed from neighbouring properties does not necessarily apply to the Duck Creek Project. "From a geological perspective, Duck Creek has all the hallmarks of a highly attractive ISR project," said Paul Cowley, CEO of Noble Plains Uranium. "It is in a proven roll-front uranium district, with drill spacing and mineralization continuity that provide a strong basis for confirmation and expansion. We plan to initiate a focused drilling campaign this fall. Design and magnitude of the drill program is in progress with a drill permit application at an advanced stage." Duck Creek - A Strong Technical Foundation The Project covers 4,133 acres (6.5 mi²) of mineral rights, including four State of Wyoming mineral leases (2,560 acres) and 78 lode mining claims (1,573 acres). The Project hosts a 3-mile-long corridor of high-density drilling completed by Kerr-McGee Nuclear Corporation in the 1970s. A total of 4,068 historical drill holes outline a consistent, shallow roll-front uranium system within the Eocene-aged Wasatch Formation, with mineralization occurring from less than 50 feet to 260 feet below surface (see Figure 2). Highlights of the historical drill intercepts include 8.9 feet grading 0.75% U₃O₈ and 13.9 feet of 0.47% U₃O₈. Local historic open-pit mining is evident within and beyond the mineralized trend shown in Figure 2. The technical report was completed for UNXE238 Corp. by independent WWC, dated August 13, 2025, entitled "NI 43-101 Technical Report Duck Creek Uranium Project" (" Technical Report") which states that the Project potentially contains an Exploration Target summarized in Table 1. The Technical Report will be Sedar filed today and made available on the Company website. Table 1. Duck Creek Uranium Project Exploration Target Upper Range Estimate Methodology Average Grade (% U 3 O 8) Median GT Sum (% U 3 O 8 -ft) Area (ft 2) Tons (000s) Mineral Outline 0.05 0.598 5,895,866 4,241 Extended Trend 0.05 - - 1,205 Total 5,446 Lower Range Estimate Methodology First Quartile Grade (% U 3 O 8) Minimum GT Sum (% U 3 O 8 -ft) Area (ft 2) Tons (000s) Mineral Outline 0.03 0.201 5,895,866 2,373 Total 2,373 The potential quantity and grade at the Project are conceptual in nature, that it is uncertain if further exploration will result in the target being delineated as a mineral resource and there is insufficient data to estimate a mineral resource. Drill holes with intercepts with Grade-Thickness (GT) sum less than 0.2 %-ft were excluded. A bulk density of 16.6 ft3/ton was used. The average thickness of each intercept with GT greater than 0.2%-ft within the mineral outline is 7 ft. The total number of intercepts within the mineral outline area is 1,317 and the average cumulative intercept thickness per drillhole is 11.8 ft. Figure 2: 3-mile-long trend of high-density historic drilling and historic production areas To view an enhanced version of this graphic, please visit: Untested Upside in the Fort Union Formation The historical drilling at Duck Creek focused exclusively on shallow mineralization in the Wasatch Formation. The deeper Fort Union Formation remains completely untested on the property. This lower unit hosts the bulk of resources at several surrounding ISR projects in the Powder River Basin, including those operated by Cameco and Uranium Energy Corp. The absence of historic drilling into the Fort Union at Duck Creek presents a significant exploration upside to expand beyond the Wasatch mineralized zones. Strategic Context The acquisition of Duck Creek significantly strengthens Noble Plains' Wyoming portfolio, building on the Company's recent acquisition of Shirley Central and expansion of Shirley East in the Shirley Basin. Wyoming has produced over 238 million pounds of uranium since the 1950s, with the Powder River Basin and Shirley Basin's representing key districts in that legacy of production. ISR is now the dominant extraction method in Wyoming overall, because it allows for faster permitting, minimal surface disturbance, and lower capital and operating costs. The Transaction Further to the Company's June 19, 2025 news release announcing the execution of a property option agreement, between the Company, UNXE238 Corp., and Drakensberg Resources LLC, a wholly owned subsidiary of the Company, the Company has closed the first stage of its option to acquire up to an 80% interest in the Duck Creek Property by issuing 1,250,000 common shares and paying US$250,000 to the Optionor. The common shares issued are subject to a four-month hold period in accordance with applicable securities laws. The remaining share issuances and cash payments are as disclosed in the Company's June 19, 2025 news release. The Duck Creek Property option transaction was accepted by the TSX Venture Exchange as an expedited transaction. UNXE238 Corp. has a Surface Access Agreement with a local rancher. About Noble Plains Uranium Corp. Noble Plains Uranium (TSXV: NOBL) is focused on acquiring and advancing U.S.-based uranium projects amenable to In-Situ Recovery (ISR)-the most capital-efficient and environmentally responsible method of uranium extraction. The Company targets historically explored, geologically robust projects in uranium-friendly jurisdictions with the goal of rapidly delineating NI 43-101 resources and building out a pipeline of ISR-development opportunities. On Behalf of the Board of Directors, "Paul Cowley", CEO "Drew Zimmerman", President For further information, please contact: Drew Zimmerman: (778) 686-0973 Website: Technical disclosure of the Technical Report and Exploration Target estimate in this news release has been reviewed and approved by Christopher McDowell, P.G., Project Manager at WWC Engineering, a Qualified Person as defined by National Instrument 43-101. Technical disclosure, excluding the Exploration Target estimate in this news release, has been reviewed and approved by Bradley Parkes, VP Exploration and Director of Noble Plains Uranium Corp., a Qualified Person as defined in National Instrument 43-101, who has read and approved the technical content of this news release. Cautionary Statements Regarding Forward-Looking Information This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Noble Plains, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the acquisition of an 80% interest in the Duck Creek Property, the merits of the Project, including potential mineralization therein, completion of an NI 43-101 compliant technical report on the Property, and the planned 2025 exploration program, including timing, scope and objectives, and the Company's ability to advance the Project towards a NI 43-101 compliant resource estimate, the potential of the Duck Creek Project to become the Company's flagship asset, the expected strengthening of the uranium market and the resulting impact on shareholder value. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Noble Plains, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the accuracy of historical drilling and other historical data, the ability to confirm historical results through exploration, the Company's ability to obtain necessary permits and approvals in a timely manner, the availability of qualified personnel, equipment and services, the ability of the Company to obtain TSX Venture Exchange approval, the ability of the Company to complete proposed exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Readers are urged to refer to the Company's filings on SEDAR+ at for a more complete discussion of such risk factors and their potential effects. Noble Plains does not assume any obligation to update forward-looking statements should beliefs, opinions, projections, or other factors, change, except as required by applicable securities laws. Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Yahoo
06-08-2025
- Business
- Yahoo
Core Natural Resources Inc (CNR) Q2 2025 Earnings Call Highlights: Navigating Challenges with ...
Release Date: August 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Core Natural Resources Inc (NYSE:CNR) generated significant cash flow with adjusted EBITDA of $144 million and free cash flow of $131 million despite a challenging market environment. The company increased its merger-related annual synergy target to a range of $150 to $170 million, which is approximately 30% higher at the midpoint than the original guidance. CNR returned $87 million to investors through share buybacks and a quarterly dividend, demonstrating a strong commitment to shareholder returns. The company increased its cash and cash equivalents by $25 million and overall liquidity by $90 million, enhancing its financial stability. CNR's Powder River Basin segment delivered strong performance, with increased demand from power generators ahead of the summer season. Negative Points CNR reported a net loss of $37 million or $0.70 per diluted share for the second quarter. The company faced challenges with the Lear South mine, including a combustion event that required sealing and delayed production restart. Global coking coal markets remain soft, pressured by sluggish steel production in key regions such as Europe and China. The metallurgical segment experienced increased cash costs due to the delayed restart of the Longwall at Lear South and reduced production at the Iman mine. Export markets, particularly in the metallurgical segment, remain challenged due to ongoing global trade headwinds. Q & A Highlights Warning! GuruFocus has detected 5 Warning Sign with CNR. Q: Why was the buyback not larger given the weak share price and positive outlook? A: Natas, CFO, explained that while the guidance was to return approximately 75% of free cash flow to shareholders, they have actually returned over 100% in the first half of the year. The company monitors market conditions and deploys cash accordingly, with some quarters seeing higher returns than others. Q: How should the $100 million insurance recovery for Lear South be considered in terms of capital returns? A: Natas, CFO, stated that these funds, similar to working capital, are available for all corporate purposes, including the capital return program, as the company sees significant value in its stock. Q: What is the confidence level in Lear South returning to normal production levels? A: Paul, CEO, expressed high confidence in resuming operations, with plans to recover longwall equipment in early fall and move it to a new face. The expectation is to be up and running relatively quickly, particularly heading into Q1. Q: What are the expectations for domestic contracting season on the Met side? A: Bob, SVP of Marketing and Sales, mentioned constructive negotiations are ongoing, with expectations that cost structures will prevent significant price decreases. The company plans to participate more in the domestic market. Q: Can you provide more color on the PRB segment's contracting outlook? A: Bob, SVP of Marketing and Sales, noted increased demand, with 33 million tons contracted for next year at an average price in the mid-14s, and a strong appetite for future contracts in both the PRB and high CV segments. Q: Have you conducted any studies on rare earth potential at your mines? A: Paul, CEO, confirmed ongoing drilling and analysis of rare earth potential, similar to peers in the Powder River Basin, and expressed interest in pursuing this further. Q: Can you provide more details on the insurance claims for Lear South and the Baltimore Bridge? A: Natas, CFO, explained that initial claims for expenses have been submitted, with hopes for resolution by year-end. The business interruption claim for Lear South is expected in 2026, with total recovery potentially exceeding $100 million. Q: How should we think about working capital in the second half of the year? A: Natas, CFO, indicated some reversal of working capital is expected, particularly from inventory reduction, but not to the same magnitude as seen in Q2. Q: What are your thoughts on the Union Pacific and Norfolk Southern merger? A: Paul, CEO, acknowledged potential benefits like improved access to East Coast terminals and blending opportunities, but emphasized the need for cost savings to be shared with shippers and for service levels to remain high. Q: How are recent trade tensions with India affecting your business? A: Paul, CEO, and Natas, CFO, noted the importance of India as a trading partner and expressed hope for resolution. They highlighted the flexibility of their product and logistics to adapt to changing trade dynamics. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 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
04-08-2025
- Business
- Yahoo
Peabody Buy Rating Holds Despite Deal Uncertainty
Peabody Energy (NYSE:BTU) maintains Jefferies' high-risk Buy rating even as its $3.7 B takeover of Anglo American's met coal assets teeters on arbitration risk. Shares jumped 3.9% on Monday as investors digested the uncertainty around deal terms and next steps. Warning! GuruFocus has detected 5 Warning Sign with BTU. Jefferies analyst Christopher LaFemina warns that arbitration may now be the base case rather than a renegotiated agreement, adding that things could get messy. Peabody's updated guidance calls for lower full-year costs in Seaborne Thermal, Seaborne Met and the Powder River Basin, while volume forecasts were raised for PRB and Seaborne Thermal. The company ended Q2 with $586 million in cash against $344 million of long-term debt, but free cash flow breakeven in H2 remains a stretch amid weak coal markets. LaFemina expects EBITDA improvement in H2 2025 if coal prices stabilize from current trough levels, but he cautions that the deal overhang will weigh on the share price. He still views BTU as a high-risk, high-reward opportunity near the bottom of the cycle, suggesting investors consider buying on weakness. This article first appeared on GuruFocus. 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
25-07-2025
- Business
- Yahoo
Better Dividend Stock: Western Midstream vs. Energy Transfer
Key Points Energy Transfer and Western Midstream Partners have high distribution yields. The MLPs back their payouts with stable cash flow and strong financial profiles. Both have solid growth prospects. 10 stocks we like better than Energy Transfer › Energy Transfer (NYSE: ET) and Western Midstream Partners (NYSE: WES) are among the largest master limited partnerships (MLPs). These midstream companies generate stable cash flow, much of which they pay out to investors. Energy Transfer's distribution yields 7.5%, and Western Midstream's is over 9%. Most investors will likely prefer to own only one of these MLPs, especially due to the potential tax complications associated with the annual Schedule K-1 federal tax forms they send to investors. Here's a look at which MLP is the better buy for those seeking sustainable, growing dividend income. Drilling down into their operations Energy Transfer and Western Midstream operate diversified energy midstream networks. Western Midstream serves the Delaware, DJ, and Powder River basins. It primarily gathers, treats, processes, and transports natural gas, NGLs, and crude oil, as well as provides water disposal services. It generates fee-based income secured by long-term contracts. Energy Transfer offers broader diversification, as it serves a range of commodities, including natural gas, NGLs, crude oil, and refined products. Its integrated wellhead-to-water system features over 130,000 miles of pipelines linking gathering and processing assets, storage facilities, and export terminals. About 90% of its earnings are fee-based. Energy Transfer's larger, more diversified infrastructure business model reduces risk and increases its growth potential. There are other notable differences between these MLPs. Oil giant Occidental Petroleum is one of Western Midstream's largest customers and holds a 44.8% direct interest in the MLP, as well as a 2% stake in its operating company. Energy Transfer, on the other hand, doesn't have a single significant customer or a large controlling shareholder. Instead, the company controls two other MLPs (Sunoco and USA Compression), which supply it with additional income and enhance its growth profile. Comparing their financial positions A high dividend yield can sometimes signal financial distress, but that's not the case with these MLPs. Energy Transfer is in the best financial position in its history. Its leverage ratio is now in the lower half of its target range of 4.0-4.5 times. Additionally, the MLP generates enough cash to cover its payout by more than two times, providing it with the flexibility to invest in growth projects and make acquisitions. Western Midstream also maintains a strong financial position, backed by a leverage ratio currently below 3.0x. While Western Midstream has a higher payout ratio, it expects to generate sufficient free cash flow this year to cover its capital expenditures with some room to spare. As a result, it also has ample financial flexibility to make bolt-on acquisitions and approve additional organic expansion projects. A look at their growth profiles Energy Transfer plans to invest $5 billion in growth capital projects this year, including a major new natural gas pipeline, several additional gas processing plants, and increased export capacity. Those projects should fuel accelerated earnings growth in the 2026-2027 time frame. Meanwhile, the company has several more expansion projects under development, including its Lake Charles LNG export terminal. Energy Transfer also has the financial capacity to continue its industry consolidation strategy (it typically makes one multibillion-dollar acquisition per year to enhance its capabilities and drive growth). These growth investments support Energy Transfer's outlook for 5% earnings growth this year, which should accelerate in 2026. That backs its plans to increase its high-yielding distribution by 3% to 5% annually. Meanwhile, Western Midstream expects its 2025 capital spending to be between $625 million and $775 million, with 65% allocated to growth initiatives. It aims to use its financial flexibility for additional organic expansions and accretive bolt-on acquisitions as opportunities arise. These growth investments should drive mid-single-digit cash flow and distribution growth. High-quality, high-yielding investments Western Midstream and Energy Transfer offer high-yielding distributions, backed by stable cash flows and strong financial profiles. As a result, either would be a solid option for those seeking to generate passive income. However, Energy Transfer's greater diversification reduces risk and provides it with more growth potential. Those features make it a better choice for investors seeking a sustainable, growing income stream. Do the experts think Energy Transfer is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did Energy Transfer make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,034% vs. just 180% for the S&P — that is beating the market by 853.75%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $641,800!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,023,813!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Matt DiLallo has positions in Energy Transfer. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy. Better Dividend Stock: Western Midstream vs. Energy Transfer was originally published by The Motley Fool
Globe and Mail
18-07-2025
- Business
- Globe and Mail
Snow Lake Advances Uranium Projects in Wyoming and Namibia in Support of U.S. Policies on National & Energy Security
Winnipeg, Manitoba--(Newsfile Corp. - July 18, 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 progress at its uranium projects in Wyoming and Namibia, together with how the exploration and development of such projects hold the potential to directly support U.S. national and energy security objectives. Highlights Drill rigs set to start turning the week of July 21, 2025 at the flagship Pine Ridge uranium project (" Pine Ridge") in Wyoming Pine Ridge is a 50/50 joint venture (the " Joint Venture") between Snow Lake and Global Uranium and Enrichment Limited (" GUE") The drill campaign at Pine Ridge is planned to undertake a total of ~38,000m (125,000ft) of drilling 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 The objective of the current drill program at Pine Ridge is to produce a maiden resource estimate prior to the end of 2025 The Engo Valley uranium project (" Engo Valley") Phase 2 drill program continues, and is planned to consist of up to approximately 7,500 meters of a combination of reverse circulation and diamond drilling Phase 2 is designed to provide a drill database sufficient to calculate a maiden uranium resource estimate in accordance with SK-1300 prior to the end of 2025 U.S. Administration executive orders on nuclear energy and domestic production of critical minerals, including uranium, provide significant tailwinds to support the development of our Pine Ridge and Engo Valley projects CEO Remarks "The U.S. needs more uranium mines in order to achieve its policy objectives of national and energy security. We are of the firm belief that our Pine Ridge uranium project in Wyoming holds the potential to become one of those new uranium mines," said Frank Wheatley, CEO of Snow Lake. "With the commencement of drilling at Pine Ridge, our drilling programs on our Pine Ridge uranium project in Wyoming, and our Engo Valley uranium project in Namibia, are now in full swing, and our objective for both projects is to produce a maiden resource estimate prior to year end." Mr. Wheatley continued:"With unprecedented demand for electricity, coupled with the U.S. Administrations strong support for nuclear energy to ensure U.S. national and energy security, 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 energy security." U.S. Administration Support of Uranium Mining The U.S. Administration has issued a number of executive orders that directly support the development of nuclear energy, and the domestic production of critical minerals, including uranium. In May, 2025, the U.S. Administration issued four executive orders (the " Nuclear Executive Orders"), designed specifically to accelerate the deployment of nuclear energy in the U.S. as the AI arms race between the U.S. and China heats up, and which will help fast-track Snow Lake's Pine Ridge uranium project development timelines. The Nuclear Executive Orders are designed to Combined with all previous Executive Orders on critical minerals, these orders will: Dramatically increase global demand for uranium Accelerate U.S. domestic uranium mining The AI arms race between the U.S. and China continues to heat up, and is driving massive: Investments in data centres to drive the AI revolution Demand for nuclear energy to power data centres Demand for uranium, including new uranium mines, to power nuclear reactors Acceleration of Pine Ridge Development Timelines The Executive Orders have the potential to fast-track Pine Ridge through development, permitting, and into production 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. Drill Program at Engo Valley The Phase 2 drill program (" Phase 2") at Engo Valley has been designed to follow up on the Phase 1 drill program completed in 2024, and will focus on the MUO and D1 target areas The objective of Phase 2 is to develop a drill data base sufficient to calculate a maiden mineral resource estimate for Engo Valley by the end of 2025. To date, a total of 21 infill RC holes have been completed in the MUO, 6 infill RC holes within the D1 North area, and 4 RC holes were completed in the MUO-D1 area. The diamond drilling segment of Phase 2 started in June, 2025. A total of 19 diamond drill holes are planned for the MUO and 8 diamond drill holes are planned to be drilled in the D1 area. Downhole radiometrics will be completed on each drill hole with a gamma spectrometer probe. 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. Pine Ridge Uranium Project Overview 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 U 3 O 8 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 website 1. 2025 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. 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. Engo Valley Uranium Project Overview The Engo Valley Uranium Project is located in the Skeleton Coast, in the Opuwo District of the Kunene Region, along the coast of northwest Namibia, approximately 600 kilometers north of Swakopmund, Namibia (see Figures 1 and 2). Uranium mineralization was discovered in 1973 and exploration was conducted intermittently by Gencor between 1974 and 1980. The Engo Valley Uranium Project is considered to be a top tier exploration project. The project is accessible from the south via 190km of desert track roads from Mowe Bay, via the Sarusas mine. To the east there are unconfirmed track roads that connect the project area to the settlement of Orupembe. Exclusive Prospecting License Prospecting License EPL 5887 (the " License") is registered in the name of the Project Company and covers a surface area of approximately 68,283 hectares (see Figure 2). The License was granted for industrial minerals, non-nuclear fuel minerals, nuclear fuel minerals, precious metals and precious stones, which includes uranium. A valid environmental clearance certificate has been issued by the Namibian Ministry of the Environment to the Project Company, allowing exploration work to be undertaken on the License. Current Uranium Operations in Namibia Namibia hosts many proven uranium deposits, including 3 major deposits, 2 of which are currently in production: Rossing Mine: One of the largest open pit uranium mines in the world, operating since 1976, currently producing 3,711 tonnes of uranium oxide per annum; 8% of the global output. By the end of 2021, Rossing had supplied 142,908 tonnes of uranium oxide. Husab Mine: Swakop Uranium started development of the mine in 2013 and production started at the end of 2016. The main part of the Husab mine is the Rossing South orebody, about 5 kilometers south of the Rossing mine and 45 kilometers north east of Walvis Bay, producing about 5,500 tonnes of uranium oxide per annum. Langer-Heinrich Mine: One of the largest uranium reserves in Namibia having estimated reserves of 57,000 tonnes of ore grading 0.055% uranium, with the past producing mine currently in process of resuming operations. Figure 1: The Engo Valley Uranium Project (EPL 5887) To view an enhanced version of this graphic, please visit: Figure 2: The Engo Valley Uranium Project, indicating "Angra Fria" or Cape Fria, the site of a proposed 3 rd Namibian Atlantic port. 2 To view an enhanced version of this graphic, please visit: Geological Setting - Engo Valley Uranium Project In the Engo Valley Uranium Project, uranium mineralization occurs in the sedimentary strata of the Karoo Sequence: as an unconformity-related in a fluvio-glacial alluvial fan type deposit in the of the Dwyka Formation and has potential for a roll-front type deposit in the Engo Formation. Uranium mineralization occurs as disseminated carnotite in the clastic sediments of the Dwyka Formation and as fine-grained uraninite in the black shale and the pink sandstone of the Engo Formation. The pink sandstone has not been adequately investigated. The Munutum and Natas Valley area east of the Engo Valley area also has not been adequately explored. Historical airborne radiometric data indicates the potential for a shallow calcrete-hosted uranium mineralization. Historical Exploration Gencor conducted an exploration / reconnaissance program intermittently between 1974 and 1980. The program was comprised of airborne radiometric survey, ground radiometric survey, geological mapping, diamond and percussion drilling, limited resistivity work and limited radon etch survey. A total of 5,784 meters of drilling were completed, including 1,061 meters of diamond drilling. The airborne radiometric survey was confined to the western side of the License along the Engo Valley paleochannel. The survey delineated four anomalies, named D1, D2, D3 and D4. D1 was further delineated into three anomalies named D1 Extension, Main Uranium Occurrence (MUO), and Louw's Valley. Most of the historical exploration was focused in D1 and most of the drilling was concentrated in the MUO. The drilling was widespread, non-systematic and non-grid pattern. An untested anomaly, named D5, has not been evaluated for uranium and covers an area of 14 square kilometers with a strike length of 7 kilometers. A historic, non-compliant S-K 1300 mineral resource estimate was completed by Gencor in the 1970's on the MUO and D1 Extension. Phase 1 Drill Program The Phase 1 drill program (" Phase 1"), completed in 2024, consisted of 1,570 meters of reverse circulation drilling in 20 holes. A total of 8 drill holes were completed on the Main Uranium Occurrence (" MUO"), 5 drill holes were completed on the D1 target area (" D1"), and 7 holes were completed on a variety of targets identified by the radon cup survey (the " Radon Survey"), also completed in 2024 by Snow Lake. Phase 1 was designed to confirm historical uranium mineralization, identified in the sandstones and conglomerates at the MUO and D1 in the 1970's, through twinning historical drill holes and starting an in-fill grid pattern between the historical drill holes. Downhole radiometrics were completed on each Phase 1 drill hole with a gamma spectrometer probe. The reader is cautioned that Snow Lake uses eU 3 O 8 calculations as a preliminary indication for chemical grades that have yet to be confirmed by chemical assays. Snow Lake considers all eU 3 O 8 readings below 50 ppm as background radioactivity, and not mineralised ground. Notable results from the downhole radiometrics include: Mineralized intersection of 232 ppm eU 3 O 8 over a 4 meter (" m") interval from 11 m depth, associated with sandstone, observed from drill hole ERCH001 Mineralized intersection of 251 ppm eU 3 O 8 over a 3 m interval at 25 m depth, associated with sandstone, observed from drill hole ERCH001 Mineralized intersection of 244 ppm eU 3 O 8 over a 13 m interval from 17 m depth, associated with sandstone, observed from drill hole ERCH002 Mineralized intersection of 183 ppm eU 3 O 8 over a 2 m interval from 34 m depth, associated with sandstone, observed from drill hole ERCH002 Mineralized intersection of 269 ppm eU 3 O 8 over a 7 m interval from 27 m depth, associated with sandstone, observed from drill hole ERCH007 Mineralized intersection of 225 ppm eU 3 O 8 over a 9 m interval from 62m depth, associated with shale, observed from drill hole ERCH009 Mineralized intersection of 260 ppm eU 3 O 8 over a 6 m interval from 19m depth, associated with shale, observed from drill hole ERCH010 Qualified Person Technical information in this news release has been reviewed and approved by Milton Misihairabgwi (AusIMM), a professional geologist with Namib Geological Services, who is a Qualified Person as defined by the Securities and Exchange Commission's Regulation S-K 1300. Update - Phase 2 Drill Program The Phase 2 drill program is planned to consist of up to approximately 7,500 meters of a combination of reverse circulation and diamond drilling, and is designed to provide a drill database sufficient to calculate a uranium maiden resource estimate in accordance with SK-1300 A total of 21 infill RC holes have been completed in the MUO, 6 infill RC holes within the D1 North area, and 4 RC holes were completed in the MUO-D1 area. Downhole radiometrics were completed on each drill hole with a gamma spectrometer probe. The reader is cautioned that Snow Lake uses eU 3 O 8 calculations as a preliminary indication for chemical grades that have yet to be confirmed by chemical assays. Snow Lake considers all eU 3 O 8 readings below 50 ppm as background radioactivity, and not mineralised ground. Notable results from the downhole radiometrics on the first segment of drilling include: Mineralized intersection of 997 ppm eU 3 O 8 over a 7 m interval, associated with shale, observed from drill hole ERCH025 Mineralized intersection of 296 ppm eU 3 O 8 over a 1.2m interval, associated with shale, observed from drill hole ERCH026 Selection and preparation of samples for wet chemical analysis is in progress. Samples will be submitted to ALS laboratories. Analysis of data from the Phase 1 drill program samples did confirm that radiometric grades are reliable and can be used as equivalent radiometric grades. Sampling is undertaken on each meter interval. Selective sampling of drill holes using downhole radiometric grades has been carried out based on this diamond drilling segment of the Phase 2 drill program started in June, 2025. A total of 19 diamond drill holes are planned for the MUO and 8 diamond drill holes are planned to be drilled in the D1 area. The objective of the Phase 2 drill program is to develop a drill data base sufficient to calculate a maiden mineral resource estimate for Engo Valley by the end of 2025. Phase 2 is focused on the MUO, and the D1 target area. See Figure 1. To view an enhanced version of this graphic, please visit: Assuming the Phase 2 drill program continues to go according to plan and assay results are received in a timely fashion, the preparation of a maiden mineral resource estimate for Engo Valley is targeted for completion before the end of 2025.
