Snow Lake Resources Ltd Stock Price, News & Analysis

Snow Lake Resources (NASDAQ: LITM) has initiated mobilization for its Phase 2 drill program at the Engo Valley Uranium Project. The program aims to complete up to 7,500 meters of combined reverse circulation and diamond drilling, focusing on the Main Uranium Occurrence and D1 target area.

The company, recently securing ~US$37 million in capital raising, is fully funded to conduct Phase 2 and plans to publish a maiden mineral resource estimate in the second half of 2025. The program includes downhole radiometrics for each drill hole and will explore additional targets identified by the 2024 radon cup survey.

This initiative aligns with the current global uranium market dynamics, characterized by a supply deficit and increased demand for nuclear energy. The project is strategically located in Namibia, the world's third-largest uranium producer. Snow Lake has also recently formed a 50/50 joint venture with Global Uranium and Enrichment on the Pine Ridge Uranium Project in Wyoming.

Snow Lake Resources (NASDAQ: LITM) has announced a significant share repurchase program authorized by its Board of Directors. The $10 million buyback program aims to enhance shareholder value and market presence, with the company planning to initially acquire up to 4,926,476 Common Shares.

The purchases will be executed through ThinkEquity via the Nasdaq Capital Market, through open market purchases or privately negotiated transactions. The program is scheduled to commence on March 24, 2025, running for one month until April 24, 2025, unless the maximum share target is reached earlier.

The company maintains flexibility in executing the buyback, with timing and volume determined by factors including liquidity, market conditions, and regulatory limitations. All repurchased shares will be returned to treasury and cancelled. The program may be paused or discontinued at the company's discretion.

Snow Lake Resources (NASDAQ: LITM) has announced a strategic 50/50 joint venture with Global Uranium and Enrichment (GUE) to acquire the Pine Ridge Uranium Project in Wyoming's Powder River Basin. The company will also become a cornerstone investor by acquiring a 19.99% stake in GUE through participation in a proposed AUD$9 million capital raise.

The Pine Ridge project is an advanced In-Situ Recovery (ISR) uranium project positioned near global-scale operations, including Cameco's Smith Ranch Uranium Mill located 15km away. Snow Lake, having recently raised ~USD$37 million, is fully funded for both the joint venture and GUE investment.

As part of the deal, Snow Lake CEO Frank Wheatley will join GUE's Board as a Non-Executive Director. The partnership provides Snow Lake access to GUE's broader uranium portfolio, including the Tallahassee Uranium Project in Colorado and investment in Ubaryon's next-generation uranium enrichment technology.

Snow Lake Resources (NASDAQ: LITM) has announced the launch of its Phase 2 drill program at the Engo Valley Uranium Project in Namibia. The program will comprise up to 7,500 meters of reverse circulation and diamond drilling, designed to establish a maiden mineral resource estimate by the second half of 2025.

The drilling will focus on the Main Uranium Occurrence (MUO) and D1 target areas, where Phase 1 drilling in late 2024 confirmed historical uranium mineralization. Additional drilling will explore prospective targets identified by the 2024 radon cup survey. The program will follow a 200 meter by 100 meter in-fill grid pattern, with mobilization scheduled for mid-March 2025.

The project is strategically positioned in Namibia, the world's third-largest uranium producer, accounting for 11% of global production in 2022. The initiative aligns with growing global uranium demand, driven by increasing nuclear energy adoption and rising power requirements from data centers and AI technologies.

Snow Lake Resources (NASDAQ: LITM) has entered into a binding letter of intent to acquire a 100% interest in the Buffalo Uranium Project in Wyoming. The project is centered on the historic Little Man Uranium Mine, which produced approximately 65,000 pounds of U3O8 at grades between 1.0% and 1.5% in the 1950s.

The acquisition terms include an initial cash payment of US$50,000, a closing cash payment of US$200,000, and US$400,000 in Snow Lake shares. Additional milestone payments of US$450,000 each are tied to achieving specific resource targets. The project consists of sixteen unpatented mining claims, with historical drilling by Conoco in 1980 confirming uranium mineralization over 3,000 feet of strike, remaining open in all directions.

Wyoming has been the leading uranium producer in the United States since 1995, with over 238 million pounds of U3O8 produced since 1951. The acquisition aligns with U.S. energy policy focusing on nuclear power development and domestic uranium supply.

Snow Lake Resources (NASDAQ: LITM) has announced successful completion of its Phase 1 drill program at the Engo Valley Uranium Project, revealing significant uranium mineralization. The program comprised 1,570 meters of drilling across 20 reverse circulation drill holes, with 11 holes showing mineralized intersections exceeding 100 ppm eU3O8.

The company plans to launch a Phase 2 drill program of up to 7,500 meters, combining reverse circulation and diamond drilling, scheduled to begin in March 2025. With over $30 million in cash and equivalents, Snow Lake aims to complete a maiden mineral resource estimate in the second half of 2025.

Notable results include mineralized intersections of 232 ppm eU3O8 over 4 meters, 251 ppm eU3O8 over 3 meters, and 244 ppm eU3O8 over 13 meters. The company recently signed an MOU with Exodys Energy, positioning itself in the $6 billion global uranium market.

Snow Lake Resources (NASDAQ: LITM) has formed a strategic partnership with Exodys Energy, a US nuclear engineering services firm, to explore opportunities in the $500+ billion nuclear energy sector. The collaboration aims to strengthen North American energy independence and aligns with the US critical mineral strategy.

Exodys specializes in nuclear fuel recycling solutions and brings extensive experience in reactor development and fuel lifecycle management. Their team has previously secured over $200 million in strategic support and has expertise in managing fuel recycling processes and constructing R&D facilities.

The partnership will focus on analyzing the balance between natural and recycled uranium in current reactors, advancing Snow Lake's uranium projects including Phase 2 drilling at Engo Valley and Black Lake Uranium Projects, and assessing the development of advanced reactor technologies for various energy applications including data centers and mining operations.

Snow Lake Energy (NASDAQ: LITM) announces its strong financial position entering 2025, having raised over $35 million in the past two months, including $16 million from a recent public offering. The company plans to advance its uranium and lithium projects while exploring nuclear energy opportunities.

Following President Trump's declaration of a national energy emergency and a $500 billion private sector investment for U.S. data centers expansion, Snow Lake is positioning itself to address growing energy demands. The company's 2025 strategic plans include: advancing exploration of two uranium projects (Engo Valley and Black Lake), updating the SK-1300 mineral resource estimate for the Snow Lake Lithium Project, exploring the Mound Lake Gallium Property, and pursuing strategic acquisitions in the nuclear energy sector.

Snow Lake Energy (NASDAQ: LITM) has successfully closed its previously announced best-efforts offering, raising US$16.0 million in gross proceeds through the sale of 16,000,000 common shares at US$1.00 per share. ThinkEquity served as the sole placement agent for the offering. The company plans to utilize the net proceeds primarily for working capital and general corporate purposes. The offering was conducted under an effective shelf registration statement filed with the SEC, with the final prospectus supplement now available on the SEC's website.