Snow Lake Resources Ltd - LITM STOCK NEWS

Snow Lake Resources Ltd. (LITM) has released initial results from its winter drilling campaign in the Thompson Brothers Lithium Project, reporting significant lithium intercepts. Hole TBL-027 yielded 1.49% LiO2 over 34.5 meters, while TBL-025 showed 1.52% LiO2 over 18 meters near the surface. The company continues its spring drilling program, which is supported by a helicopter, and aims to define the deposit further while expediting laboratory results. The resource estimate currently stands at 11.1 million metric tonnes of indicated and inferred resources.

Snow Lake Resources Ltd. (NASDAQ:LITM) has provided an operational update on its Snow Lake Project in Manitoba, marking progress towards its goal of a fully electric lithium mine. A 2-tonne metallurgical bulk sample is being collected, with one tonne from the Thompson Brothers resource and another from Grass River. SGS Canada will process these samples to create battery-grade lithium hydroxide. The winter drilling program has shown promising results, with 46 meters of coarse grain spodumene intercepted. The company aims to accelerate its lithium production as it prepares for commercial operations.

Snow Lake Resources Ltd. (NASDAQ:LITM) announced the closing of an underwritten block trade of 3,000,000 common shares at a price of $6.00 per share, resulting in total gross proceeds of $18,000,000 to its shareholder, Nova Minerals Ltd.. Following the offering, Nova Minerals owns approximately 37% of the Company’s outstanding shares and has agreed to lock-up its remaining shares until March 21, 2023. Snow Lake did not receive any proceeds from this sale. The offering was conducted under its SEC registration statement.

Snow Lake Lithium Ltd. (NASDAQ:LITM) has received a grant of CAD $157,500 from the Manitoba Mineral Development Fund to support its winter drilling campaign. This funding follows a previous grant of CAD $62,000 that aided in a geophysics drone campaign. Current drilling aims to expand the existing resource of 11.1 million metric tonnes and extend the mine's life. The transition to helicopter drilling is planned for spring and summer. The company emphasizes its commitment to a sustainable and environmentally conscious mining approach in Manitoba.

Snow Lake Resources Ltd. (NASDAQ:LITM) announced a block trade of 3,000,000 common shares at $6.00 per share, generating $18,000,000 in proceeds for its shareholder, Nova Minerals Ltd.. Snow Lake will not receive any proceeds from this sale, which is expected to close on April 12, 2022. Post-offering, Nova Minerals will hold approximately 37% of Snow Lake's total outstanding shares. Nova has agreed to a lock-up on its remaining shares until March 21, 2023, reinforcing its commitment to Snow Lake's vision as a leading lithium supplier.

Snow Lake Resources Ltd. (NASDAQ:LITM) announced positive updates on its winter drilling program, confirming successful drilling initiatives in the Thompson Brothers lithium resource. Initial results show significant spodumene intersections across several drill holes, indicating potential resource expansion. The drilling campaign, now ongoing for spring and summer, aims to validate resource targets and enhance economic mining conditions while supporting a multi-decade lithium supply. With a commitment to sustainability, Snow Lake seeks to set industry standards and achieve Certified B Corporation status.

WINNIPEG, MB / ACCESSWIRE / February 10, 2022 / Snow Lake Resources Ltd., trading as Snow Lake Lithium Ltd (NASDAQ:LITM), celebrated its recent Nasdaq listing by participating in a Closing Bell Ceremony on February 10, 2022. CEO Philip Gross highlighted this milestone as a step towards becoming a fully renewable energy-powered lithium mine, aiming to supply zero carbon battery-grade lithium for electric vehicles. Key developments include advancing the Initial Assessment phase and expanding their property for resource growth.