$30M Investment in U.S. Uranium Sector Positions Snow Lake at the Heart of America's Energy Shift
Snow Lake Resources (NASDAQ: LITM) announces plans to invest US$30 million in U.S. uranium exploration and development over the next three years. The company's primary focus will be the Pine Ridge Uranium Project in Wyoming's Powder River Basin, a 50/50 joint venture with Global Uranium and Enrichment (GUE).
Snow Lake will acquire a 19.99% strategic stake in GUE through participation in a A$10M capital raise. The investment provides access to GUE's uranium projects in Colorado and Utah. Additionally, Snow Lake owns the Buffalo Uranium Project in Wyoming, a historic producer with confirmed uranium mineralization over 3,000 feet of strike.
The Pine Ridge project is positioned near global-scale uranium projects and Cameco's Smith Ranch Uranium Mill. The investment aligns with U.S. policy priorities focusing on energy independence and critical mineral security, particularly in supporting domestic uranium supply for nuclear energy expansion and advanced nuclear technologies.
Snow Lake Resources (NASDAQ: LITM) annuncia piani per investire 30 milioni di dollari USA nell'esplorazione e nello sviluppo dell'uranio negli Stati Uniti nei prossimi tre anni. L'attenzione principale dell'azienda sarà il Progetto Uranio Pine Ridge nella Powder River Basin del Wyoming, una joint venture 50/50 con Global Uranium e Enrichment (GUE).
Snow Lake acquisirà una partecipazione strategica del 19,99% in GUE attraverso la partecipazione a un aumento di capitale di A$10 milioni. L'investimento offre accesso ai progetti di uranio di GUE in Colorado e Utah. Inoltre, Snow Lake possiede il Progetto Uranio Buffalo nel Wyoming, un produttore storico con mineralizzazione di uranio confermata su oltre 3.000 piedi di estensione.
Il progetto Pine Ridge è situato vicino a progetti di uranio di scala globale e al mulino di uranio Smith Ranch di Cameco. L'investimento è in linea con le priorità politiche degli Stati Uniti che si concentrano sull'indipendenza energetica e sulla sicurezza dei minerali critici, in particolare nel supportare l'offerta interna di uranio per l'espansione dell'energia nucleare e le tecnologie nucleari avanzate.
Snow Lake Resources (NASDAQ: LITM) anuncia planes para invertir 30 millones de dólares estadounidenses en la exploración y desarrollo de uranio en EE. UU. durante los próximos tres años. El enfoque principal de la empresa será el Proyecto Uranio Pine Ridge en la cuenca Powder River de Wyoming, una empresa conjunta 50/50 con Global Uranium y Enrichment (GUE).
Snow Lake adquirirá una participación estratégica del 19.99% en GUE a través de su participación en una ampliación de capital de A$10 millones. La inversión proporciona acceso a los proyectos de uranio de GUE en Colorado y Utah. Además, Snow Lake posee el Proyecto Uranio Buffalo en Wyoming, un productor histórico con mineralización de uranio confirmada en más de 3,000 pies de extensión.
El proyecto Pine Ridge está ubicado cerca de proyectos de uranio de escala global y del molino de uranio Smith Ranch de Cameco. La inversión se alinea con las prioridades políticas de EE. UU. que se centran en la independencia energética y la seguridad de minerales críticos, particularmente en el apoyo a la oferta nacional de uranio para la expansión de la energía nuclear y las tecnologías nucleares avanzadas.
스노우 레이크 리소스 (NASDAQ: LITM)는 향후 3년 동안 미국의 우라늄 탐사 및 개발에 3천만 달러를 투자할 계획을 발표했습니다. 회사의 주요 초점은 글로벌 우라늄 및 농축(GUE)과의 50/50 합작 투자인 와이오밍의 파인 리지 우라늄 프로젝트입니다.
스노우 레이크는 A$1천만 자본 조달에 참여하여 GUE에 19.99%의 전략적 지분을 인수할 것입니다. 이 투자는 콜로라도와 유타에 있는 GUE의 우라늄 프로젝트에 접근할 수 있게 합니다. 또한, 스노우 레이크는 와이오밍의 버팔로 우라늄 프로젝트를 소유하고 있으며, 이는 3,000피트 이상의 광상에서 우라늄 광물화가 확인된 역사적인 생산자입니다.
파인 리지 프로젝트는 글로벌 규모의 우라늄 프로젝트와 Cameco의 스미스 랜치 우라늄 밀 근처에 위치하고 있습니다. 이 투자는 에너지 독립성과 중요한 광물 안전에 중점을 두고 있는 미국의 정책 우선 사항과 일치하며, 특히 원자력 에너지 확장 및 고급 원자력 기술을 위한 국내 우라늄 공급 지원에 기여합니다.
Snow Lake Resources (NASDAQ: LITM) annonce des plans pour investir 30 millions de dollars américains dans l'exploration et le développement de l'uranium aux États-Unis au cours des trois prochaines années. L'objectif principal de l'entreprise sera le Projet Uranium Pine Ridge dans le bassin de Powder River du Wyoming, une coentreprise 50/50 avec Global Uranium et Enrichment (GUE).
Snow Lake acquerra une participation stratégique de 19,99% dans GUE grâce à sa participation à une augmentation de capital de 10 millions de dollars australiens. Cet investissement donne accès aux projets d'uranium de GUE au Colorado et en Utah. De plus, Snow Lake possède le Projet Uranium Buffalo dans le Wyoming, un producteur historique avec une minéralisation d'uranium confirmée sur plus de 3 000 pieds de longueur.
Le projet Pine Ridge est situé près de projets d'uranium à l'échelle mondiale et de l'usine d'uranium Smith Ranch de Cameco. Cet investissement s'aligne sur les priorités politiques des États-Unis axées sur l'indépendance énergétique et la sécurité des minéraux critiques, en particulier pour soutenir l'approvisionnement national en uranium pour l'expansion de l'énergie nucléaire et les technologies nucléaires avancées.
Snow Lake Resources (NASDAQ: LITM) kündigt Pläne an, 30 Millionen US-Dollar in die Uranexploration und -entwicklung in den USA in den nächsten drei Jahren zu investieren. Der Schwerpunkt des Unternehmens liegt auf dem Pine Ridge Uranium Project im Powder River Basin in Wyoming, einem 50/50-Joint Venture mit Global Uranium und Enrichment (GUE).
Snow Lake wird eine strategische Beteiligung von 19,99% an GUE durch die Teilnahme an einer Kapitalerhöhung von A$10 Millionen erwerben. Die Investition ermöglicht den Zugang zu GUEs Uranprojekten in Colorado und Utah. Darüber hinaus besitzt Snow Lake das Buffalo Uranium Project in Wyoming, einen historischen Produzenten mit bestätigter Uranmineralisierung über 3.000 Fuß Strike.
Das Pine Ridge-Projekt befindet sich in der Nähe globaler Uranprojekte und der Uranmühle Smith Ranch von Cameco. Die Investition steht im Einklang mit den politischen Prioritäten der USA, die sich auf Energieunabhängigkeit und die Sicherheit kritischer Mineralien konzentrieren, insbesondere zur Unterstützung der inländischen Uranversorgung für die Erweiterung der Kernenergie und fortschrittliche Kerntechnologien.
- Strategic acquisition of 19.99% stake in GUE provides access to multiple uranium projects across Wyoming, Colorado, and Utah
- Pine Ridge project located in prime location near Cameco's Smith Ranch Uranium Mill and other global-scale projects
- Buffalo Uranium Project shows high-grade historical production (1.0-1.5% U3O8)
- Investment aligns with U.S. government priorities for domestic energy security
- Significant capital expenditure of US$30M required over next three years
- Pine Ridge project still in early exploration stage, requiring extensive development
- No drilling activity at Buffalo Uranium Project since 1980
- Joint venture structure may limit full control over Pine Ridge project development
Insights
Snow Lake's announced
The investment strategy centers on three key assets: the Pine Ridge JV with GUE in Wyoming's prolific Powder River Basin, the Buffalo Uranium project (a historic producer), and a
The company's positioning is strategically sound. Pine Ridge's location near Cameco's Smith Ranch Mill offers potential infrastructure advantages, while Wyoming's uranium-friendly regulatory environment reduces permitting friction. Furthermore, the Buffalo project's historical production of high-grade uranium (
What's particularly compelling is the timing. With advanced nuclear technologies gaining momentum, increasing power demands from AI development, and bipartisan support for energy security, domestic uranium is poised for renewed importance. However, investors should note that the announcement lacks critical details on funding sources for this substantial investment, raising questions about potential equity dilution or debt arrangements.
While the strategic positioning is promising, uranium exploration and development timelines are typically measured in years rather than quarters, suggesting a long runway before these investments might generate meaningful revenue.
Snow Lake's uranium investment strategy represents a calculated entry into America's nuclear resurgence. The company's focus on Wyoming's Powder River Basin—the epicenter of U.S. uranium production—demonstrates geological savvy. This region hosts world-class deposits with grades suitable for economical In-Situ Recovery (ISR) mining, which offers significantly lower capital costs and faster development timelines than conventional mining methods.
The Pine Ridge project appears particularly promising with over 1,200 historical drill holes identifying extensive redox fronts—the geological structures where roll-front uranium deposits typically form. The proximity to Cameco's Smith Ranch Mill (just 15km away) could potentially reduce development costs through processing synergies.
The joint venture approach with GUE mitigates financial and technical risk while leveraging complementary expertise. GUE's additional assets provide diversification across multiple uranium districts should regulatory or technical challenges emerge at any single project.
From a nuclear fuel cycle perspective, the GUE partnership offers an intriguing dimension through their stake in Ubaryon, a uranium enrichment technology company. This provides theoretical vertical integration potential in the longer term.
However, the three-year timeframe to reach feasibility stage is ambitious for uranium development. Even with Wyoming's streamlined permitting, the path from exploration to feasibility typically encounters multiple technical and regulatory hurdles that frequently extend timelines. Investors should recognize that while the strategic positioning is sound, meaningful production remains years away.
Winnipeg, Manitoba--(Newsfile Corp. - April 9, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces that it plans US
These investments place Snow Lake at the forefront of a U.S. policy shift that is heavily focused on energy independence and critical mineral security. The U.S. administration continues to emphasize domestic investment in strategic sectors, including uranium, to reduce reliance on foreign sources and accelerate the rollout of increased domestic energy production including advanced nuclear technologies. Snow Lake's expanding footprint in the U.S. uranium sector directly aligns with these national priorities, which we believe presents a compelling opportunity to deliver long-term value to shareholders.
Highlights
- Pine Ridge Uranium Project in Wyoming, a 50/50 joint venture with Global Uranium and Enrichment Limited (GUE), will be the primary focus of Snow Lake's uranium exploration activities in the United States over the next three years
- Pine Ridge is a potential district scale uranium project in the Powder River Basin in Wyoming, and over the next three years, Snow Lake and GUE plan on moving the Pine Ridge project through exploration and development and into the feasibility study stage of development
- Snow Lake's strategic
19.99% investment in GUE also provides indirect access to GUE's uranium exploration and development projects in Colorado and Utah
- Snow Lake's Buffalo Uranium project in Wyoming is a historic uranium producer located on the historic Little Man Uranium Mine, where historical drilling by Conoco in 1980 confirmed uranium mineralization over 3,000 feet of strike, which remains open in all directions
CEO Remarks
"Our increased investment in uranium exploration and development in the U.S. begins with our Pine Ridge uranium project, in joint venture with Global Uranium and Enrichment Limited (GUE)," said Frank Wheatley, CEO of Snow Lake. "The majority of our investments will be in Pine Ridge as we work together with GUE to advance Pine Ridge through the feasibility stage of development over the next three years."
"The goal of our investments is to develop a domestic supply of uranium to help underpin the expansion of nuclear energy in the U.S. With the U.S. focusing on national and energy security, coupled with the development of advanced nuclear technologies such as small modular reactors, and the constantly increasing demand for energy from technology companies pursuing their AI ambitions, we believe focusing our investments on U.S. domestic uranium supply holds the potential to create substantial value for our shareholders."
Investments in U.S. Uranium Exploration and Development
Pine Ridge Uranium Project (Joint Venture with GUE)
Pine Ridge is:
- Located in Wyoming's Powder River Basin, and is an advanced In-Situ Recovery (ISR) uranium project primed for rapid development
- A uranium project of potential significant scale with a large JORC 2012 exploration target. For more information on this exploration target see GUE's ASX Announcement dated March 12, 2025
- Surrounded by global-scale uranium projects held by UEC and Cameco, including Cameco's Smith Ranch Uranium Mill, which is located just 15km away
- Joint Venture management team has significant uranium exploration, development and permitting experience in the Powder River Basin in Wyoming
- Drilling is expected to commence immediately after completion of the acquisition as part of an accelerated work program to advance Pine Ridge
- Wyoming is the leading uranium-producing region in the United States, supported by a favourable regulatory environment and streamlined permitting processes
Cornerstone Investment in Global Uranium and Enrichment Limited
Snow Lake will acquire a strategic
GUE's Uranium Asset Portfolio
GUE is developing the following portfolio of advanced, high grade uranium assets in prolific uranium districts in the United States:
- Pine Ridge Uranium Project (Wyoming, U.S.): Located in the premier U.S. uranium mining region with a substantial JORC 2012 exploration target. More than 1,200 holes having been drilled on Pine Ridge, which have identified over 140 miles of redox fronts with potential to define a substantial In-Situ Recovery uranium resource base
- Tallahassee Uranium Project (Colorado, U.S.): Located in Colorado's Tallahassee Creek Uranium District containing a substantial JORC 2012 resource
- Maybell Uranium Project (Colorado, U.S.): High grade JORC 2012 exploration target established at the project. Historical production of 5.3 million pounds of U3O8 (average grade 1,300ppm)
- Rattler Uranium Project (Utah, U.S.): Located within La Sal Uranium District, Utah, 85km north of White Mesa Uranium/Vanadium mill, the only operating conventional uranium mill in the USA
- Ubaryon Investment (Australia): GUE holds a cornerstone position in Ubaryon Pty Ltd, a private Australian uranium enrichment technology company
For more information on GUE, please refer to their website1.
Buffalo Uranium Project
The Buffalo Uranium Project is located in the southeast part of Wyoming, approximately 50 miles south of Casper, Wyoming and is centered on the historic Little Man Uranium mine. Uranium mineralization at the Little Man Uranium mine was discovered in the 1950's. A total of approximately 65,000 pounds of U3O8 were mined with an average grade of between
In addition to mining at the Little Man Uranium Mine in the 1950's, a total of 13 widely spaced drill holes, consisting of eight percussion drill holes and five core holes, were drilled by Conoco in 1979 and 1980. No drilling has been undertaken on the Buffalo Uranium Project since 1980. Uranium mineralization was intersected over a strike length of approximately 3,000 feet and remains open along strike and at depth.
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 clean energy mineral projects comprised of two uranium projects and two hard rock lithium projects. The Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia, and the Black Lake Uranium Project is an exploration stage project located in the Athabasca Basin, Saskatchewan. The Shatford Lake Project is an exploration stage project located adjacent to the Tanco lithium, cesium and tantalum mine in Southern Manitoba, and the Snow Lake Lithium™ Project is an exploration stage project located in the Snow Lake region of Northern Manitoba. Learn more at www.snowlakeenergy.com.
Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd.. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled "Risk Factors" in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law.
| Contact and Information Frank Wheatley, CEO | Investor Relations Investors: ir@snowlakelithium.com Website: www.snowlakeenergy.com | Follow us on Social Media Twitter: www.twitter.com/SnowLakeEnergy LinkedIn: www.linkedin.com/company/snow-lake-energy |
[1] https://globaluranium.com.au
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247880
FAQ
What is the size of Snow Lake's (LITM) planned investment in U.S. uranium exploration?
Where is Snow Lake's (LITM) Pine Ridge Uranium Project located and who are their partners?
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What is the historical production of Snow Lake's (LITM) Buffalo Uranium Project?
