Pine Ridge Uranium Project Continues to Deliver Excellent Drill Results

Rhea-AI Summary

Snow Lake Energy (NASDAQ: LITM) reported additional assay results from 45 drill holes at the Pine Ridge uranium project in the Powder River Basin, Wyoming, a 50/50 joint venture with Global Uranium and Enrichment Limited.

Key highlights include 2.6m at 0.101% U3O8 (1,010 ppm) in PR25-093 including 2.0m at 0.124% U3O8, multiple other intercepts (e.g., 2.6m at 0.048%, 0.8m at 0.117%), and confirmation of stacked roll-front mineralization hosted in two major sandstone units at depths of ~200–300m and ~335–400m.

The 2025 drill program has been completed with 114 holes totaling 38,000m; final assay results for the remaining holes will be announced shortly. Technical data reviewed by Qualified Person Ron Scott PhD, PGeo.

Positive

• Highest reported intercept: 2.6m at 0.101% U3O8 (PR25-093)
• Drill program completed: 114 holes, 38,000m
• Mineralization hosted in two sandstone units at ~200–300m and ~335–400m
• Project adjacent to Cameco Smith Ranch mill (~15km)

Negative

• Significant intercepts are generally narrow, maximum reported interval 2.6m
• Final assay set pending for remaining holes, creating near-term data uncertainty

News Market Reaction

-6.80%

5 alerts

-6.80% News Effect

-3.5% Trough in 1 hr 37 min

-$4M Valuation Impact

$59M Market Cap

0.3x Rel. Volume

On the day this news was published, LITM declined 6.80%, reflecting a notable negative market reaction. Argus tracked a trough of -3.5% from its starting point during tracking. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $4M from the company's valuation, bringing the market cap to $59M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Best intercept: 2.6m at 0.101% (1,010 ppm) U3O8 High-grade interval: 2.0m at 0.124% (1,240 ppm) U3O8 Drill program holes: 114 holes over 38,000m (125,000 ft) +5 more

8 metrics

Best intercept 2.6m at 0.101% (1,010 ppm) U3O8 Hole PR25-093 from 257.6m at Pine Ridge

High-grade interval 2.0m at 0.124% (1,240 ppm) U3O8 Included within PR25-093 intercept at 257.9m

Drill program holes 114 holes over 38,000m (125,000 ft) Completed Pine Ridge drill program for 2025

New results batch 45 drill holes out of 93 Next set of drill results reported in release

Sandstone depths 200–300m and 335–400m Depths of mineralized sandstone units at Pine Ridge

Nearby mill capacity 5.5Mlbs U3O8 per year Cameco’s Smith Ranch Mill licensed capacity

Distance to mill ~15km Pine Ridge distance to Smith Ranch Mill

Additional intercept 0.8m at 0.117% (1,170 ppm) U3O8 Hole PR25-079 from 249.3m

Market Reality Check

Price: $3.01 Vol: Volume 936,817 is 1.44x t...

normal vol

$3.01 Last Close

Volume Volume 936,817 is 1.44x the 20-day average (650,590) ahead of this news. normal

Technical Price $3.53 is trading below the $4.36 200-day moving average and far under the $24.44 52-week high.

Peers on Argus

LITM fell 9.95% while key peers FMST (-7.98%), ELBM (-6.12%) and GTI (-18.18%) a...

LITM fell 9.95% while key peers FMST (-7.98%), ELBM (-6.12%) and GTI (-18.18%) also traded lower, but no sector-wide momentum signal was flagged.

Historical Context

5 past events · Latest: Dec 08 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 08	Regulatory approval	Positive	+7.3%	FIRB approval for acquiring 100% of GUE and Ubaryon interest.
Nov 10	Policy development	Positive	-0.3%	U.S. designates uranium a critical mineral, potentially aiding domestic players.
Oct 21	New business launch	Positive	-3.7%	Launch of Kadmos Energy Services to develop small modular reactors.
Oct 06	Acquisition deal	Positive	+3.4%	Binding deal to acquire remaining GUE shares, creating fuel cycle company.
Oct 02	Project drilling update	Positive	+0.2%	Encouraging Pine Ridge drilling confirming 24 mineralized roll fronts.

Pattern Detected

Recent company-specific milestones (acquisitions, project updates) more often saw share price gains, but some positive uranium-themed news has produced muted or negative reactions.

Recent Company History

Over the last few months, Snow Lake has advanced a vertically integrated nuclear fuel strategy. It moved to acquire 100% of GUE with a pro forma market cap of ~US$76.7m, gained FIRB approval, and launched Kadmos Energy Services with up to US$10M committed. Pine Ridge has delivered multiple encouraging drill updates, confirming 24 continuous roll fronts and a 125-hole program. The latest Pine Ridge drilling fits this pattern of steadily de‑risking the project while the stock sometimes reacts unevenly to positive uranium and policy news.

Regulatory & Risk Context

Active S-3 Shelf · US$1,000,000,000

Shelf Active

Active S-3 Shelf Registration 2025-11-14

US$1,000,000,000 registered capacity

Snow Lake has an effective Form F-3 shelf filed on 2025-11-14 to offer up to US$1,000,000,000 in various securities over a 36‑month period, giving it substantial flexibility to raise capital for working capital and corporate purposes when it chooses.

Market Pulse Summary

The stock moved -6.8% in the session following this news. A negative reaction despite strong drill i...

Analysis

The stock moved -6.8% in the session following this news. A negative reaction despite strong drill intercepts would fit prior instances where positive uranium or strategic news did not always translate into gains. At $3.53, the stock sat well below the $4.36 200‑day MA and 85.56% under its $24.44 52‑week high, leaving sentiment fragile. The sizeable US$1,000,000,000 shelf registration also framed expectations around potential future financing, which could weigh on risk perceptions.

Key Terms

u3o8, ppm, in-situ recovery, isr, +2 more

6 terms

u3o8 technical

"2.6m at 0.101% (1,010 ppm) U3O8 from 257.6m in PR25-093"

U3O8 is the chemical name for a stable form of uranium oxide commonly called “yellowcake,” the concentrated powder produced after uranium ore is processed. Investors track U3O8 because it represents the raw material that is turned into nuclear fuel; its supply, demand and price act like a commodity indicator that can move the value of mining companies, utilities and firms tied to the nuclear fuel chain. Think of it as the crude oil equivalent for nuclear power — a basic feedstock whose availability and cost affect an entire industry.

ppm technical

"0.101% (1,010 ppm) U3O8 from 257.6m in PR25-093"

Parts per million (ppm) is a unit that expresses how many units of a substance exist in one million units of a mixture or material — imagine one drop of dye spread through an Olympic-sized pool to picture a very small concentration. Investors watch ppm readings because regulatory limits, product contamination, pollutant emissions or chemical residues often use this scale; small numeric changes can mean compliance problems, remediation costs, production shutdowns or reputational risk that affect a company’s value.

in-situ recovery technical

"Pine Ridge is an In-Situ Recovery (ISR) uranium exploration project"

In-situ recovery is a mining method that extracts a valuable material by dissolving it underground and pumping the solution to the surface instead of digging or blasting rock. For investors, it matters because this approach often lowers upfront construction costs, shortens development time and reduces visible land disturbance, but it also brings regulatory, environmental and groundwater risks that can affect project timelines, operating costs and valuation.

isr technical

"making them suitable for future ISR development"

ISR stands for socially responsible investing (from the French phrase Investissement Socialement Responsable) and means choosing stocks, bonds or funds based on environmental, social and governance criteria in addition to financial return. Like picking a brand that matches your values, ISR matters to investors because it helps align portfolios with personal or institutional priorities, can reduce exposure to companies with regulatory or reputational risks, and can influence demand and valuation for firms deemed more sustainable.

roll front technical

"Drilling continues to focus on defining roll front mineralization"

A roll front is a type of underground mineral deposit formed where oxygen-rich water meets reduced groundwater, causing dissolved uranium (or other metals) to precipitate out and concentrate along a moving chemical boundary. For investors, roll-front deposits matter because their shape, depth and chemistry influence how easily the material can be mined, the likely grade and recovery rates, and the environmental and permitting challenges—think of it like a stain line in a cup where valuable particles collect and determine how hard they are to clean up and extract.

regulation s-k 1300 regulatory

"Qualified Person as defined by the Securities and Exchange Commission's Regulation S-K 1300"

A U.S. securities regulation that sets clear standards for how mining companies must describe exploration results, mineral resources and mineral reserves in public filings. It requires consistent categories, supporting data and professional qualifications so investors can compare projects reliably, much like a standardized report card that reduces the risk of overstated claims and helps assess the value and uncertainty of a mining asset.

AI-generated analysis. Not financial advice.

Winnipeg, Manitoba--(Newsfile Corp. - December 15, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a nuclear fuel cycle company, announces that it has received the next set of drill results from an additional 45 drill holes (out of a total of 93 holes) that have been completed on the Pine Ridge Uranium Project ("Pine Ridge"), located in the prolific Powder River Basin in Wyoming, a 50/50 joint venture (the "Joint Venture") with Global Uranium and Enrichment Limited ("GUE").

Highlights

• Fourth set of drill results continue to demonstrate the strong development opportunity at the Pine Ridge Uranium Project in the Powder River Basin, Wyoming

• Drilling continues to focus on defining roll front mineralization and has returned excellent results, including:

  • 2.6m at 0.101% (1,010 ppm) U₃O₈ from 257.6m in PR25-093 including:

    • 2.0m at 0.124% (1,240ppm) U₃O₈ at 257.9m

  • 2.6m at 0.048% (480 ppm) U₃O₈ from 260.3m in PR25-080 and:

    • 1.2m at 0.079% (790 ppm) U₃O₈ from 292.3m

  • 4.1m at 0.030% (300 ppm) U₃O₈ from 337.3m in PR25-067

  • 0.8m at 0.117% (1,170 ppm) U₃O₈ from 249.3m in PR25-079

  • 2.4m at 0.030% (300 ppm) U₃O₈ from 323.5m in PR25-051 and

    • 2.0m at 0.047% (470 ppm) U₃O₈ from 328.7m including:

    • 0.9m at 0.063% (630 ppm) U₃O₈ from 329.5m

  • 1.7m at 0.045% (450 ppm) U₃O₈ from 333.3m in PR25-062

• Drilling program has just been completed with a total of 114 holes over 38,000m (125,000 ft). The final set of drill results will be announced shortly.

Snow Lake CEO Remarks

"We continue to receive positive drill results from our Pine Ridge uranium project as we wrap up our drill program for 2025," said Frank Wheatley, CEO of Snow Lake. "Pine Ridge is a very large project with large unexplored areas, and we have merely scratched the surface of Pine Ridge with this drill program. Drill results to date give us good reason to continue our work at Pine Ridge as we await the final set of drill results from this program.

We see Pine Ridge as a key asset in developing our U.S. focused capabilities across the front end of the nuclear fuel cycle, directly aligning with the U.S. Administration's policies underpinning the development of a domestic nuclear industry to enhance and ensure U.S. national, economic and energy security," Mr. Wheatley continued.

Figure 1: Drilling at Pine Ridge in the Powder River Basin of Wyoming, U.S.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9547/278029_1d7b6244c4c8cafc_001full.jpg

Drill Program

Recent results from the Pine Ridge drill program further illustrate the continuous nature of the stacked roll fronts noted in previous press releases. The mineralization is hosted in at least two major sandstone units within the Tertiary Ft. Union Formation in the eastern flank of Pine Ridge. The units, generally 200m to 300m deep and 335m to 400m deep, appear to be geologically and hydrologically isolated, allowing for future ISR development.

Figure 2: Current land package showing the new drilling at the Pine Ridge Uranium Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9547/278029_1d7b6244c4c8cafc_002full.jpg

Drill results in the new area shown in Inset 2 (Figure 2 above) has further supported this geologic interpretation while returning the most significant assay results to data with 2.6m at 0.101% (1,010 ppm) U₃O₈ from 257.6m including 2.0m at 0.124% (1,240ppm) U₃O8 at 257.9m in PR25-093. The sandstones that host this interval may be the same sandstones that host the mineralization drilled earlier this year on the eastern edge of the project.

Details of drill results and drill collars are set out in Schedule A.

Pine Ridge Uranium Project - Overview

Pine Ridge is an In-Situ Recovery (ISR) uranium exploration project located in the southwestern Powder River Basin of Wyoming, the premier U.S. uranium basin. The Project is surrounded by existing uranium projects held by UEC and Cameco and is located only ~15km from Cameco's Smith Ranch Mill, which has a licensed capacity of 5.5Mlbs U₃O₈ p.a. The Smith Ranch mill is one of the largest uranium production facilities in the U.S.

Qualified Person

Technical information in this news release has been reviewed and approved by Ron Scott PhD, PGeo, who is a Qualified Person as defined by the Securities and Exchange Commission's Regulation S-K 1300.

About Snow Lake Resources Ltd.

Snow Lake Resources Ltd. is a Canadian nuclear fuel cycle and critical minerals company listed on Nasdaq:LITM, with a portfolio of U.S. focused uranium projects, together with interests in next-generation uranium enrichment and small modular reactors. 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 on 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, including rare earths and lithium, in North America. 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.

For Further Information:

Frank Wheatley	Investor Relations
Chief Executive Officer	ir@snowlakelithium.com
fw@snowlakelithium.com

 

Schedule A

The recent drill results are shown in Table 1 below and the collar details are shown in Table 2.

Hole ID	From  (m)	To (m)	Thickness (m)	Avg U3O8 (%)	U3O8 (ppm)	GxT (m%)
PR25-049	233.9	234.7	0.8	0.041	410	0.03
and	270.8	272.0	1.2	0.032	320	0.04
and	273.6	275.4	1.8	0.033	330	0.06
PR25-051	323.5	326.0	2.4	0.030	300	0.07
and	328.7	330.7	2.0	0.047	470	0.09
including	329.5	330.4	0.9	0.063	630	0.06
PR25-052	288.5	290.2	1.7	0.027	270	0.05
PR25-057	290.5	292.5	2.0	0.046	460	0.09
PR25-058	357.8	358.6	0.8	0.049	490	0.04
PR25-059	347.2	347.9	0.8	0.039	390	0.03
PR25-062	333.3	335.0	1.7	0.045	450	0.08
including	333.6	334.2	0.6	0.057	570	0.03
PR25-063	286.5	288.0	1.5	0.036	360	0.05
PR25-066	276.5	278.6	2.1	0.034	340	0.07
PR25-067	337.3	341.4	4.1	0.030	300	0.12
PR25-069	330.7	331.3	0.6	0.061	610	0.04
PR25-073	333.3	334.8	1.5	0.039	390	0.06
and	347.0	348.4	1.4	0.046	460	0.06
PR25-075	333.8	334.7	0.9	0.038	380	0.03
and	340.5	341.8	1.4	0.035	350	0.05
and	342.3	343.4	1.1	0.029	290	0.03
PR25-076	276.1	277.5	1.4	0.026	260	0.04
PR25-078	297.3	299.2	1.8	0.027	270	0.05
PR25-079	249.3	250.1	0.8	0.117	1170	0.09
PR25-080	9.4	10.5	1.1	0.036	360	0.04
and	260.3	262.9	2.6	0.048	480	0.12
including	260.6	261.7	1.1	0.071	710	0.08
and	292.3	293.5	1.2	0.079	790	0.10
including	292.5	293.4	0.9	0.094	940	0.09
PR25-087	247.8	249.5	1.7	0.027	270	0.05
PR25-088	239.7	241.7	2.0	0.042	420	0.08
and	244.0	244.9	0.9	0.041	410	0.04
PR25-092	239.1	240.3	1.2	0.049	490	0.06
including	239.4	240.0	0.6	0.064	640	0.04
PR25-093	257.6	260.1	2.6	0.101	1010	0.26
including	257.9	259.8	2.0	0.124	1240	0.25
and	271.0	272.2	1.2	0.029	290	0.04

 

Table 1: Uranium intercepts from the recently completed holes. Minimum reported thicknesses are >0.3m and grade 0.02% U₃O_8. "Including" intervals are compiled at a cutoff of 0.05% U₃O₈

HoleID	Easting  (83_13)	Northing  (83_13)	Elev.  (m)	Azi. (top of  hole)	Dip (top of  hole)	TD  (m)
PR25-049	436890	4782434	1646	0	-90	360
PR25-050	436907	4782251	1640	0	-90	360
PR25-051	436749	4782471	1660	0	-90	354
PR25-052	436745	4782317	1658	0	-90	354
PR25-053	436669	4782165	1651	0	-90	384
PR25-054	436755	4782099	1660	0	-90	341
PR25-055	437042	4782434	1626	0	-90	341
PR25-056	436890	4782586	1636	0	-90	354
PR25-057	436746	4782773	1637	0	-90	329
PR25-058	436670	4782925	1642	0	-90	372
PR25-059	436824	4783304	1619	0	-90	354
PR25-060	436518	4782773	1649	0	-90	372
PR25-061	436723	4782550	1656	0	-90	341
PR25-062	436635	4782395	1657	0	-90	354
PR25-063	436755	4782251	1657	0	-90	354
PR25-064	436605	4782092	1649	0	-90	372
PR25-065	436907	4782099	1646	0	-90	347
PR25-066	437574	4784016	1629	0	-90	366
PR25-067	437488	4784318	1645	0	-90	390
PR25-068	437478	4784508	1657	0	-90	396
PR25-069	437297	4784021	1650	0	-90	366
PR25-070	437059	4783713	1631	0	-90	372
PR25-071	436896	4783713	1624	0	-90	256
PR25-072	437197	4783558	1625	0	-90	323
PR25-073	437004	4783568	1622	0	-90	366
PR25-074	436977	4783304	1618	0	-90	360
PR25-075	436856	4783195	1619	0	-90	360
PR25-076	437083	4783199	1613	0	-90	305
PR25-077	436716	4782925	1637	0	-90	372
PR25-078	436708	4782773	1639	0	-90	329
PR25-079	436579	4782773	1646	0	-90	372
PR25-080	436716	4782302	1659	0	-90	341
PR25-081	436875	4782434	1648	0	-90	341
PR25-082	434389	4779479	1634	0	-90	189
PR25-083	434631	4779536	1625	0	-90	189
PR25-084	434709	4779416	1626	0	-90	189
PR25-085	433730	4779012	1640	0	-90	171
PR25-086	430669	4779788	1674	0	-90	274
PR25-087	430822	4779670	1670	0	-90	280
PR25-088	430793	4779538	1669	0	-90	268
PR25-089	430775	4779315	1671	0	-90	274
PR25-090	431076	4779425	1668	0	-90	274
PR25-091	430608	4779029	1680	0	-90	268
PR25-092	430606	4778886	1685	0	-90	274
PR25-093	430661	4778789	1694	0	-90	287

 

Table 2: Drill collar details for drillholes

Figure 3: Inset map 1 showing the locations and results of the most recent holes drilled at the Pine Ridge Project. Intervals reported at a cutoff Intervals reported at a cutoff of 200 ppm and a thickness of >0.3m

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9547/278029_1d7b6244c4c8cafc_003full.jpg

Figure 4: Inset map 2 showing the locations and results of the most recent holes drilled at the Pine Ridge Project. Intervals reported at a cutoff Intervals reported at a cutoff of 200 ppm and a thickness of >0.3m

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9547/278029_1d7b6244c4c8cafc_004full.jpg

Figure 5: Cross section, looking west, from A to A'. Significant results from the newly-reported drilling are highlighted while previously-reported holes are coloured gray.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9547/278029_1d7b6244c4c8cafc_005full.jpg

Figure 6: Cross section, looking west, from B to B'. Significant results from the newly-reported drilling are highlighted.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9547/278029_1d7b6244c4c8cafc_006full.jpg

Figure 7: Pine Ridge Uranium Project and Adjacent Properties.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9547/278029_1d7b6244c4c8cafc_007full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278029

FAQ

What drill results did Snow Lake Energy (LITM) release on December 15, 2025 for Pine Ridge?

Snow Lake released results from 45 drill holes including 2.6m at 0.101% U3O8 in PR25-093 and several other multi-meter intercepts.

How large was Snow Lake's 2025 Pine Ridge drill program (LITM)?

The 2025 program completed 114 holes totaling 38,000m (125,000 ft).

Where is the Pine Ridge project (LITM) located and what nearby infrastructure exists?

Pine Ridge is in the Powder River Basin, Wyoming, located about 15km from Cameco's Smith Ranch mill with licensed capacity of 5.5Mlbs U3O8 p.a.

Do the Pine Ridge drill results support in-situ recovery (ISR) development for LITM?

Drilling shows mineralization in two geologically and hydrologically isolated sandstone units at depths compatible with potential ISR development.

When will Snow Lake Energy (LITM) release the remaining Pine Ridge assay results?

The company said the final set of drill results will be announced shortly.