Snow Lake Completes Highly Successful Drill Program at the Pine Ridge Uranium Project in Wyoming

Rhea-AI Summary

Snow Lake Energy (NASDAQ: LITM) completed a 2025 drill program at the Pine Ridge uranium project in Wyoming, a 50/50 joint venture with Global Uranium and Enrichment. The program drilled 114 holes (38,000 m) and confirmed widespread, continuous roll-front uranium mineralization across multiple sandstone packages, identifying at least 25 mineralized roll fronts. Best assays included 2.6m at 0.101% U3O8 (including 2.0m at 0.124%). Mineralization occurs in stacked sandstones 200–400m deep, appears hydrologically isolated, and is potentially amenable to in-situ recovery (ISR).

Positive

• Completed 114 holes totaling 38,000 m in 2025
• Confirmed continuity across at least 25 roll fronts
• Best assay: 2.6m at 0.101% U3O8 (PR25-093)
• Mineralization hosted in isolated sandstones 200–400m deep, enabling ISR potential
• Project is ~15km from Smith Ranch Mill (5.5Mlbs licensed capacity)

Negative

• Many intercepts are low grade (e.g., 0.026%–0.045% U3O8)
• Drill testing covered only a small portion of the large land package
• Mineralization depths of 200–400m may raise ISR development costs

News Market Reaction

+15.59%

41 alerts

+15.59% News Effect

+12.0% Peak in 6 hr 9 min

+$10M Valuation Impact

$72M Market Cap

1.2x Rel. Volume

On the day this news was published, LITM gained 15.59%, reflecting a significant positive market reaction. Argus tracked a peak move of +12.0% during that session. Our momentum scanner triggered 41 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $10M to the company's valuation, bringing the market cap to $72M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Drill program scale: 114 holes, 38,000m (125,000 ft) New intercept PR25-103: 1.2m at 0.040% (400 ppm) U3O8 Best intercept PR25-093: 2.6m at 0.101% (1,010 ppm) U3O8 +5 more

8 metrics

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

New intercept PR25-103 1.2m at 0.040% (400 ppm) U3O8 From 173.7m in Pine Ridge southwest area

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

High-grade interval PR25-093 2.0m at 0.124% (1,240 ppm) U3O8 Included within 2.6m intercept at 257.9m

Intercept PR25-017 2.0m at 0.092% (920 ppm) U3O8 From 314.8m at Pine Ridge

Intercept PR25-031 3.5m at 0.054% (540 ppm) U3O8 From 321.3m at Pine Ridge

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

Shelf registration size US$1,000,000,000 Form F-3 filed Nov 14, 2025

Market Reality Check

Price: $3.57 Vol: Volume 377,925 is slightl...

normal vol

$3.57 Last Close

Volume Volume 377,925 is slightly below the 20-day average of 416,493 (relative volume 0.91x). normal

Technical Shares at $3.40 trade below the 200-day MA $4.11 and sit 85.05% under the 52-week high of $22.75 (above the $2.34 52-week low).

Peers on Argus

LITM’s pre-news move of -4.76% contrasts with mixed peers: FMST -1.35%, ELBM -3....

1 Up

LITM’s pre-news move of -4.76% contrasts with mixed peers: FMST -1.35%, ELBM -3.11%, GTI -18.18%, while scanner momentum only flagged NVA at +6.07%. No broad, coordinated sector move is evident.

Historical Context

5 past events · Latest: Dec 23 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 23	Acquisition update	Positive	-5.2%	GUE Scheme Booklet dispatched outlining fair and reasonable acquisition terms.
Dec 22	Regulatory milestone	Positive	-0.8%	GUE Scheme Booklet registered with ASIC and key approval dates set.
Dec 19	Court hearing result	Positive	+9.9%	Australian court orders scheme meetings enabling GUE acquisition to proceed.
Dec 19	Technology update	Positive	+9.9%	Ubaryon enrichment progress, TRL advancement plans, and strategic stakes reaffirmed.
Dec 15	Drill results	Positive	-6.8%	Strong Pine Ridge intercepts and completion of a 114‑hole, 38,000m program.

Pattern Detected

Recent positive strategic and exploration updates have often seen mixed-to-negative next‑day price reactions, especially around Pine Ridge drilling and GUE acquisition steps.

Recent Company History

Over the past month, Snow Lake reported multiple developments. Pine Ridge drill results on Dec 15 highlighted strong U3O8 intercepts from 114 holes totaling 38,000m, yet the stock fell 6.8%. A series of updates on the proposed acquisition of Global Uranium and Enrichment around Dec 19–23 showed court progress and a favourable independent expert view but drew mixed reactions, including a 9.88% rise and a 5.22% decline. Today’s completion of the Pine Ridge drill program extends that narrative of technically positive, but market‑skeptical, exploration 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

An effective Form F-3 shelf filed on Nov 14, 2025 enables Snow Lake to issue up to US$1,000,000,000 in various securities over a 36‑month period, with proceeds for working capital and general corporate purposes. No usage has been disclosed yet (usage_count 0).

Market Pulse Summary

The stock surged +15.6% in the session following this news. A strong positive reaction aligns with t...

Analysis

The stock surged +15.6% in the session following this news. A strong positive reaction aligns with the technically encouraging Pine Ridge results, including multiple high‑grade U3O8 intercepts and confirmation of stacked roll fronts across at least three sandstone packages. However, prior drill and acquisition news saw mixed reactions, and the presence of a US$1,000,000,000 shelf registration could overhang sentiment if used for equity issuance. Investors watching sustainability might track future resource estimates, permitting steps, and any capital‑raising under the shelf.

Key Terms

u3o8, in-situ recovery (isr), roll fronts, ppm, +1 more

5 terms

u3o8 technical

"New results include:1.2m at 0.040% (400 ppm) U3O8 from 173.7m"

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.

in-situ recovery (isr) technical

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

In-situ recovery (ISR) is a mining method where a liquid solution is pumped into an underground ore zone to dissolve targeted minerals, which are then pumped back to the surface for processing—think of extracting flavor by running water through a coffee filter left inside the ground. It matters to investors because ISR often lowers upfront costs, speeds up production and reduces surface disruption compared with traditional mining, but it also concentrates environmental and regulatory risks around groundwater management and permitting.

roll fronts technical

"identified at least 25 mineralized roll fronts contained within three major sandstone packages"

Roll fronts are crescent-shaped underground concentrations of uranium formed where mineral-rich fluids moving through porous rock meet a chemical boundary and deposit metal, similar to how a rust line appears where wet and dry meet on a surface. They matter to investors because roll-front deposits are often relatively shallow, continuous and suited to lower-cost recovery methods that can change a mining project's resource size, production economics and risk profile when discovered or expanded.

ppm technical

"0.040% (400 ppm) U3O8 from 173.7m in PR25-103"

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.

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. - January 12, 2026) - 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 final set of drill results from an additional 21 drill holes (out of a total of 114 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").

This successful drill program confirmed the presence of widespread uranium mineralization at Pine Ridge, while testing only a very small percentage of the large land package, and established the continuity of mineralization in multiple areas and identified at least 25 mineralized roll fronts contained within three major sandstone packages.

Highlights

• Final 2025 program drill results continue to highlight multiple zones of mineralization at Pine Ridge

• Highly successful drill program was completed with 114 holes and 38,000m (125,000 ft)

• Drilling results have continued to define roll front mineralization and have increased the number of mineralized horizons. New results include:

  • 1.2m at 0.040% (400 ppm) U₃O₈ from 173.7m in PR25-103 and:

    • 0.8m at 0.045% (450 ppm) U₃O₈ from 176.0m

  • 0.9m at 0.041% (410 ppm) U₃O₈ from 194.2m in PR25-102 and:

    • 1.1m at 0.029% (290 ppm) U₃O₈ from 196.3m

  • 1.2m at 0.032% (320 ppm) U₃O₈ from 254.7 in PR25-105

  • 1.4m at 0.026% (260 ppm) U₃O₈ from 257.6m in PR25-106

• Best results from the drill program include:

• 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

• 2.0m at 0.092% (920 ppm) U₃O₈ from 314.8m in PR25-017, including

  • 1.2m at 0.132% (1,320 ppm) U₃O₈ from 315.0m

• 3.5m at 0.054% (540 ppm) U₃O₈ from 321.3m in PR25-031, including

  • 1.1m at 0.078% (780 ppm) U₃O₈ from 321.4m

Snow Lake CEO Remarks

"We are extremely pleased with the results of our 2025 drill program," said Frank Wheatley, CEO of Snow Lake. "Pine Ridge is a very large land package in the heart of U.S. domestic uranium production and has demonstrated widespread and continuous uranium mineralization across multiple sand packages. Having only test a small portion of Pine Ridge, we will now analyze the results of our 2025 drill program with a view to planning the next significant drill program." Mr. Wheatley continued.

Drill Program

The latest 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 and southwestern portions of Pine Ridge. The sandstone units, generally 200m to 300m deep, and 335m to 400m deep, appear to be geologically and hydrologically isolated, allowing for future ISR development.

Importantly, the mineralization that has been intersected in the southwest portion of the project appears to be hosted in a stratigraphically lower sandstone package than the mineralization hosted by the two sand packages on the eastern portion of the project area. This suggests additional areas and horizons for exploration efforts.

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/9547/280020_df45f676f41ea8b9_001full.jpg

Drill Results

Drilling reported in the most recent area drilled (Figure 1 above) has further supported this geologic interpretation while returning the most significant assay results to date with the previously reported 2.6m at 0.101% (1,010 ppm) U₃O₈ from 257.6m including 2.0m at 0.124% (1,240 ppm) U₃O₈ at 257.9m in PR25-093.

New results from this area are highlighted by PR25-103 with 1.2m at 0.040% (400 ppm) U₃O₈ from 173.7m and PR25-105 with 1.2m at 0.032% (320 ppm) U₃O₈ from 254.7m.

Details of the 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 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.

Table 1: Uranium intercepts from the recently completed holes. Minimum reported thicknesses are >0.3m and grade 200 ppmU₃O_8. "Including" intervals are compiled at a cutoff of 0.05% U₃O_8.

HoleID	From (m)	To (m)	Thickness (m)	Avg U3O8 (%)	U3O8 (ppm)	GxT (m%)
PR25-102	194.2	195.1	0.9	0.041	410	0.04
and	196.3	197.4	1.1	0.029	290	0.03
PR25-103	173.7	175.0	1.2	0.040	400	0.05
and	176.0	176.8	0.8	0.045	450	0.03
PR25-105	254.7	255.9	1.2	0.032	320	0.04
PR25-106	257.6	258.9	1.4	0.026	260	0.04

 

Table 2: Drill collar details for drillholes.

HoleID	Easting (83_13)	Northing (83_13)	Elev. (m)	Azi. (top of hole)	Dip (top of hole)	TD (m)
PR25-094	429001	4779931	1680	0	-90	213
PR25-095	429072	4779329	1700	0	-90	226
PR25-096	429118	4779297	1700	0	-90	226
PR25-097	429149	4779297	1699	0	-90	226
PR25-098	429409	4778501	1691	0	-90	219
PR25-099	429408	4778136	1698	0	-90	219
PR25-100	429217	4777927	1708	0	-90	219
PR25-101	429244	4777876	1705	0	-90	213
PR25-102	429153	4777875	1708	0	-90	213
PR25-103	429107	4777779	1708	0	-90	207
PR25-104	429183	4777778	1704	0	-90	213
PR25-105	430601	4778728	1695	0	-90	287
PR25-106	430662	4778728	1698	0	-90	287
PR25-107	430723	4778729	1697	0	-90	287
PR25-108	430576	4778886	1684	0	-90	274
PR25-109	430637	4778940	1686	0	-90	274
PR25-110	430576	4778940	1682	0	-90	274
PR25-111	430638	4779028	1681	0	-90	268
PR25-112	430661	4778819	1693	0	-90	287
PR25-113	430684	4778789	1696	0	-90	293
PR25-114	430661	4778759	1696	0	-90	287

 

Figure 2: Inset map 1 showing the locations and results of the most recent holes drilled at Pine Ridge. Intervals are reported at a cutoff of 200 ppm U₃O₈ and a thickness of >0.3m.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9547/280020_df45f676f41ea8b9_002full.jpg

Figure 3: Cross section, looking west, from A to A'. Significant results from the newly-reported drilling are highlighted while previously reported holes are coloured grey.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9547/280020_df45f676f41ea8b9_003full.jpg

Figure 4: Pine Ridge Uranium Project and Adjacent Properties.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9547/280020_df45f676f41ea8b9_004full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280020

FAQ

What were the main results of Snow Lake Energy's January 12, 2026 Pine Ridge drill program (LITM)?

Snow Lake reported completion of 114 holes (38,000 m), identified at least 25 roll fronts, and best assay of 2.6m at 0.101% U3O8.

How deep is the uranium mineralization reported at Pine Ridge (LITM)?

Mineralization was intersected in stacked sandstone units generally between 200m and 400m depth.

Does the Pine Ridge geology support in-situ recovery (ISR) for Snow Lake (LITM)?

Yes; the company reports mineralization in geologically and hydrologically isolated sandstone packages, which are suitable for ISR development.

How significant is the best assay from Snow Lake's Pine Ridge program (LITM)?

The standout result was 2.6m at 0.101% U3O8 (including 2.0m at 0.124%), described as the most significant assay to date at Pine Ridge.

What is the ownership and nearby infrastructure for Pine Ridge (LITM)?

Pine Ridge is a 50/50 joint venture with GUE and lies ~15km from Cameco's Smith Ranch Mill (licensed 5.5Mlbs U3O8/year).