Snow Lake Comments on Maiden High Grade Mineral Resource Estimate for the Maybell Uranium Project in Colorado
Snow Lake Resources (NASDAQ: LITM) has commented on its strategic investment in Global Uranium and Enrichment Limited (GUE), where it holds a 19.9% stake. GUE has completed a JORC 2012 maiden mineral resource estimate at the Maybell uranium project in Colorado, a historic district that previously produced 5.3 Mlbs U3O8.
The announcement follows GUE's successful completion of a 31-hole drill program in 2024. Additionally, Snow Lake is engaged in a 50/50 joint venture with GUE on the Pine Ridge Uranium Project in Wyoming, which is currently executing an aggressive 125,000 ft drill program.
The company is strategically positioning itself to benefit from increasing uranium demand driven by technology companies' data centers, AI developments, and potential supportive policies on nuclear energy.
Snow Lake Resources (NASDAQ: LITM) ha commentato il suo investimento strategico in Global Uranium and Enrichment Limited (GUE), dove detiene una quota del 19,9%. GUE ha completato una prima stima delle risorse minerarie secondo lo standard JORC 2012 nel progetto uranio di Maybell, in Colorado, un distretto storico che in passato ha prodotto 5,3 milioni di libbre di U3O8.
L'annuncio segue il completamento con successo da parte di GUE di un programma di perforazione di 31 fori nel 2024. Inoltre, Snow Lake è coinvolta in una joint venture al 50/50 con GUE nel progetto Pine Ridge Uranium in Wyoming, attualmente impegnato in un ambizioso programma di perforazione di 125.000 piedi.
L'azienda si sta posizionando strategicamente per beneficiare della crescente domanda di uranio, trainata dai data center delle aziende tecnologiche, dagli sviluppi nell'intelligenza artificiale e dalle potenziali politiche favorevoli all'energia nucleare.
Snow Lake Resources (NASDAQ: LITM) ha comentado sobre su inversión estratégica en Global Uranium and Enrichment Limited (GUE), donde posee una participación del 19,9%. GUE ha completado una estimación inicial de recursos minerales bajo el estándar JORC 2012 en el proyecto de uranio Maybell en Colorado, un distrito histórico que previamente produjo 5,3 millones de libras de U3O8.
El anuncio sigue al exitoso programa de perforación de 31 pozos en 2024 llevado a cabo por GUE. Además, Snow Lake participa en una joint venture 50/50 con GUE en el proyecto Pine Ridge Uranium en Wyoming, que actualmente está ejecutando un agresivo programa de perforación de 125,000 pies.
La compañía se está posicionando estratégicamente para beneficiarse del aumento de la demanda de uranio impulsada por los centros de datos de empresas tecnológicas, desarrollos en inteligencia artificial y posibles políticas favorables a la energía nuclear.
Snow Lake Resources (NASDAQ: LITM)는 Global Uranium and Enrichment Limited (GUE)에 대한 전략적 투자에 대해 언급했으며, 이 회사에서 19.9% 지분을 보유하고 있습니다. GUE는 콜로라도의 Maybell 우라늄 프로젝트에서 JORC 2012 기준의 최초 광물 자원 추정을 완료했으며, 이 지역은 과거에 530만 파운드의 U3O8를 생산한 역사적인 광산 지대입니다.
이번 발표는 GUE가 2024년에 31개 시추공 프로그램을 성공적으로 완료한 데 따른 것입니다. 또한 Snow Lake는 와이오밍의 Pine Ridge 우라늄 프로젝트에서 GUE와 50대 50 합작 투자를 진행 중이며, 현재 125,000피트 시추 프로그램을 공격적으로 수행하고 있습니다.
회사는 기술 기업의 데이터 센터, 인공지능 개발, 그리고 원자력 에너지에 대한 잠재적 지원 정책에 힘입어 증가하는 우라늄 수요로부터 전략적으로 이익을 얻기 위해 위치를 잡고 있습니다.
Snow Lake Resources (NASDAQ : LITM) a commenté son investissement stratégique dans Global Uranium and Enrichment Limited (GUE), où il détient une participation de 19,9 %. GUE a réalisé une première estimation des ressources minérales selon la norme JORC 2012 pour le projet d'uranium de Maybell dans le Colorado, une région historique qui a précédemment produit 5,3 millions de livres d'U3O8.
Cette annonce fait suite à la réussite par GUE d'un programme de forage de 31 trous en 2024. De plus, Snow Lake est engagé dans une coentreprise à 50/50 avec GUE sur le projet Pine Ridge Uranium dans le Wyoming, qui exécute actuellement un programme de forage agressif de 125 000 pieds.
L'entreprise se positionne stratégiquement pour tirer parti de la demande croissante en uranium, stimulée par les centres de données des entreprises technologiques, les développements en intelligence artificielle et les politiques potentielles favorables à l'énergie nucléaire.
Snow Lake Resources (NASDAQ: LITM) hat seine strategische Beteiligung an Global Uranium and Enrichment Limited (GUE), an der es einen 19,9%igen Anteil hält, kommentiert. GUE hat eine erste JORC 2012 Mineralressourcenschätzung für das Maybell Uranprojekt in Colorado abgeschlossen, einem historischen Gebiet, das zuvor 5,3 Millionen Pfund U3O8 produziert hat.
Die Bekanntgabe folgt auf den erfolgreichen Abschluss eines 31-Bohrloch-Programms im Jahr 2024 durch GUE. Zudem ist Snow Lake an einem 50/50 Joint Venture mit GUE am Pine Ridge Uranprojekt in Wyoming beteiligt, das derzeit ein aggressives Bohrprogramm von 125.000 Fuß durchführt.
Das Unternehmen positioniert sich strategisch, um von der steigenden Uran-Nachfrage zu profitieren, die durch Rechenzentren von Technologieunternehmen, Entwicklungen im Bereich Künstliche Intelligenz und mögliche unterstützende politische Maßnahmen für Kernenergie angetrieben wird.
- Strategic 19.9% ownership in GUE provides exposure to established uranium district
- 50/50 joint venture partnership in Pine Ridge Uranium Project with extensive 125,000 ft drill program
- Historic production of 5.3 Mlbs U3O8 demonstrates proven uranium district potential
- Positioning to benefit from growing uranium demand driven by tech sector and energy policies
- Maiden resource estimate details not disclosed in the press release
- Project development still in early exploration phase
- Success dependent on future uranium market conditions and policy implementation
Insights
Snow Lake's strategic investment in GUE shows progress with a maiden uranium resource at Maybell, positioning them in the growing domestic uranium market.
Snow Lake Resources has announced an important milestone through its 19.9% strategic investment in Global Uranium and Enrichment Limited (GUE). GUE has completed a JORC 2012-compliant maiden mineral resource estimate at the Maybell uranium project in Colorado, a historically productive uranium district that previously yielded 5.3 million pounds of U₃O₈.
This resource estimate follows GUE's completion of a 31-hole drill program in 2024, representing the first modern systematic exploration of this brownfield site. While the specific grade and tonnage details aren't disclosed in Snow Lake's release, this development marks a critical validation step in resource development.
The strategic importance of this announcement extends beyond the Maybell project. Snow Lake and GUE are also 50/50 joint venture partners on the Pine Ridge Uranium Project in Wyoming's Powder River Basin, where they're conducting an aggressive 125,000-foot drill program. Combined with GUE's positive scoping study at the Tallahassee uranium project (also in Colorado), Snow Lake is systematically building exposure to domestic American uranium resources.
The timing aligns with potential policy tailwinds. The company specifically notes expectations of increasing uranium demand driven by data center expansion, AI development, and anticipated policy support from the incoming Trump administration regarding nuclear energy and domestic production. However, investors should recognize that the value of these resources will ultimately depend on the specific grades, tonnages, and economic recoverability of the uranium - data points not fully detailed in this announcement.
Winnipeg, Manitoba--(Newsfile Corp. - August 6, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, comments that Global Uranium and Enrichment Limited ("GUE"), in which Snow Lake holds a strategic
Highlights
- Maybell is a recognised uranium district in Colorado with historical production of 5.3 Mlbs U3O8 over two discrete mining periods
- GUE has completed a maiden JORC 2012 mineral resource estimate at Maybell1
- The resource estimate follows the completion of a successful 31-hole drill program in 2024
- Next steps include a follow-up drill program to enhance and expand the mineral resource
- Full details of the resource estimate can be found in GUE's ASX Announcement of July 30, 20252
- Domestic American uranium projects are poised to benefit from increasing demand for electricity, driven by big technology companies' expanding data centers and AI ambitions, together with President Trump's policies on nuclear energy
CEO Remarks
"As the cornerstone investor in GUE, we are pleased with the announcement of a significant maiden mineral resource estimate at the Maybell uranium project in Colorado," said Frank Wheatley, CEO of Snow Lake.
"With a maiden resource estimate at Maybell, coupled with a positive scoping study at the Tallahassee uranium project in Colorado, GUE is beginning to assemble a critical mass of domestic American uranium resources, which are poised to benefit from President Trump's policies on accelerating uranium production to ensure national and energy security."
"As a 50/50 joint venture partner with GUE on the Pine Ridge Uranium Project in the Powder River Basin in Wyoming, currently undergoing an aggressive 125,000 ft drill program, we certainly believe we are assembling an exceptional portfolio of American uranium projects that hold the potential to create significant value for Snow Lake shareholders."
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 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://wcsecure.weblink.com.au/pdf/GUE/02972557.pdf
2 https://wcsecure.weblink.com.au/pdf/GUE/02972557.pdf
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261447
FAQ
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