Snow Lake's Portfolio Company, Kadmos Energy, Submits Response to the Texas Advanced Nuclear Energy Office's Request for Information

Rhea-AI Summary

Snow Lake Energy (NASDAQ: LITM) announced on March 5, 2026 that its portfolio company Kadmos Energy submitted a response to the Texas Advanced Nuclear Energy Office (TANEO) Request for Information. Kadmos advocates deploying mature PWR technology and highlights fuel supply and waste management via Snow Lake's uranium assets and Ubaryon stake (A$5 million external investment).

The filing frames Kadmos' turnkey delivery model as addressing parts availability and workforce readiness, and positions Snow Lake's mining, enrichment and recycling ties as strategic supports for Texas nuclear expansion.

News Market Reaction – LITM

-2.08%

1 alert

-2.08% News Effect

On the day this news was published, LITM declined 2.08%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Ubaryon investment: A$5 million Mound Lake claims: 243 claims Mound Lake size: over 4,800 hectares +5 more

8 metrics

Ubaryon investment A$5 million Urenco investment in Ubaryon, where Snow Lake is largest shareholder

Mound Lake claims 243 claims Mound Lake Gallium Project land package

Mound Lake size over 4,800 hectares Area covered by Mound Lake claims

High-grade samples 12 samples >50 ppm gallium Historic 2023 work at Mound Lake

Max gallium grade 110.5 ppm Highest reported gallium value from Mound Lake grab samples

Earn-in interest up to 80% Potential interest Snow Lake can earn in Mound Lake project

Pine Ridge drilling 114 holes (38,000 m) 2025 drill program at Pine Ridge uranium project

Best uranium assay 2.6 m at 0.101% U3O8 Highlight intercept from Pine Ridge drilling

Market Reality Check

Price: $2.82 Vol: Volume 331,787 is 12% abo...

normal vol

$2.82 Last Close

Volume Volume 331,787 is 12% above 20-day average 296,669, indicating modestly elevated interest pre-announcement. normal

Technical Shares at $2.88, trading below 200-day MA of $3.74 and 72.26% under 52-week high $10.38.

Peers on Argus

LITM was down 2.04% with slightly elevated volume, while only one tracked peer (...

1 Down

LITM was down 2.04% with slightly elevated volume, while only one tracked peer (FMST) appeared in momentum data, moving down separately. Other peers showed mixed, low-intensity moves, suggesting this nuclear-focused update was more company-specific than part of a broad Basic Materials rotation.

Historical Context

5 past events · Latest: Feb 17 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 17	Shareholder letter	Positive	-4.6%	Outlined post‑acquisition strategy and 2026 priorities after closing GUE deal.
Feb 13	Acquisition completed	Positive	+4.8%	Closed acquisition of GUE, consolidating uranium assets and SMR exposure.
Feb 03	Acquisition progress	Positive	-3.2%	Reported court and shareholder approvals advancing GUE acquisition toward completion.
Jan 15	Project option extended	Positive	+0.6%	Extended Mound Lake Gallium option and highlighted critical minerals potential.
Jan 12	Drill results	Positive	+15.6%	Released Pine Ridge drill program results confirming extensive uranium mineralization.

Pattern Detected

Recent corporate and project updates have often produced mixed price reactions, with both aligned rallies and selloffs following generally positive uranium and nuclear-fuel-cycle news.

Recent Company History

Over the last few months, Snow Lake has executed a strategic pivot into a broader nuclear fuel cycle platform. Key steps included completing the acquisition of Global Uranium and Enrichment in mid‑February 2026, expanding U.S. uranium assets and gaining stakes in enrichment (Ubaryon) and SMRs (Kadmos). Earlier January 2026 updates highlighted strong Pine Ridge drill results and a gallium project option extension. Today’s Kadmos‑TANEO RFI response fits this trajectory of building integrated uranium mining, enrichment, and SMR deployment capabilities.

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 November 14, 2025 allows Snow Lake to offer up to US$1,000,000,000 in various securities over a 36‑month period for working capital and general corporate purposes, using methods such as underwritten deals, negotiated transactions, block trades, or at‑the‑market offerings. No usage was recorded in the provided context.

Market Pulse Summary

This announcement underscores Snow Lake’s effort to link its uranium mining and enrichment assets wi...

Analysis

This announcement underscores Snow Lake’s effort to link its uranium mining and enrichment assets with downstream small modular reactor deployment through Kadmos. The TANEO RFI response highlights mature PWR technology and a turnkey delivery model, while recent drilling at Pine Ridge and the Mound Lake option extension support the broader nuclear fuel cycle strategy. Investors may monitor progress on Texas initiatives, future project de‑risking, and any use of the US$1,000,000,000 shelf registration as key markers of execution.

Key Terms

small modular reactor, pressurized water reactor (pwr), uranium enrichment, uranium recycling, +4 more

8 terms

small modular reactor technical

"Snow Lake's small modular reactor portfolio company, Kadmos Energy Services LLC"

A small modular reactor is a compact nuclear power plant designed to generate electricity in smaller amounts compared to traditional reactors. It can be built in factories, then transported and assembled on-site, making it quicker and often cheaper to deploy. For investors, these reactors represent a potential source of clean energy with lower upfront costs and flexible scaling, which could influence future energy markets and infrastructure investments.

pressurized water reactor (pwr) technical

"emphasizes the use of pressurized water reactor (PWR) technology, similar to Texas' four"

A pressurized water reactor (PWR) is a common type of nuclear power plant that keeps water under high pressure so it heats without boiling, then uses that heat to make steam in a separate loop to drive turbines—think of a tightly sealed kettle heating a second pot. Investors care because PWR design affects a plant’s efficiency, operating costs, safety rules, licensing complexity and long-term cleanup liabilities, all of which influence revenue and risk.

uranium enrichment technical

"developing next generation uranium enrichment technology. Urenco, a leading global"

Uranium enrichment is the industrial process that increases the proportion of the uranium atoms that can sustain a nuclear chain reaction, producing fuel usable by power reactors or, at higher levels, material suitable for weapons. It matters to investors because enrichment capacity and costs affect the supply, price and security of nuclear fuel, influence energy company margins, and are subject to strict regulation and geopolitical risks that can quickly change market conditions.

uranium recycling technical

"Exodys Energy, with its focus on uranium recycling, we are removing the two biggest"

The process of recovering usable uranium from spent nuclear fuel or leftover enrichment material so it can be reused for power generation. Like salvaging metal from old appliances to make new parts, uranium recycling reduces the need for freshly mined uranium, affects fuel costs and supply security, and carries regulatory and environmental considerations that can materially influence utility and mining company finances.

nuclear fuel cycle technical

"Snow Lake is building a front-end nuclear fuel cycle company with assets and investments"

The nuclear fuel cycle is the full supply chain that turns raw uranium into usable reactor fuel, manages its use in power generation, and handles spent fuel and any recycling or disposal. Think of it like the path from coffee beans to a brewed cup and the leftover grounds — each step (mining, conversion, enrichment, fabrication, reactor use, storage or reprocessing) affects cost, regulatory risk, supply security and long-term liabilities, all of which influence the value and prospects of companies involved.

roll-front uranium mineralization technical

"confirmed widespread, continuous roll-front uranium mineralization across multiple sandstone"

A roll-front uranium mineralization is a type of underground deposit where uranium dissolved in groundwater concentrates and precipitates along a moving chemical boundary in porous rock, usually sandstone. Think of it like a shoreline where changing water chemistry leaves a visible line of valuable material; for investors, these deposits often mean simpler, lower-cost extraction, predictable geometry for drilling, but also regulatory and environmental risks tied to groundwater disturbance.

in-situ recovery (isr) technical

"appears hydrologically isolated, and is potentially amenable to in-situ recovery (ISR)."

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.

request for information (rfi) regulatory

"Advanced Nuclear Energy Office ("TANEO") Request for Information ("RFI") process."

A request for information (RFI) is a formal inquiry a company or government makes to gather basic facts, capabilities, pricing ranges, or timelines from suppliers, partners, or other parties before deciding how to proceed. For investors, an RFI can signal early-stage interest in a contract, product or project that may lead to revenue, spending or regulatory action—think of it as a company asking for quotes and details before committing to a purchase or partnership, which helps assess future business prospects and risks.

AI-generated analysis. Not financial advice.

Winnipeg, Manitoba--(Newsfile Corp. - March 5, 2026) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a nuclear fuel cycle company, announces that following its public debut at the Texas Nuclear Summit^[1] in October 2025, Snow Lake's small modular reactor portfolio company, Kadmos Energy Services LLC ("Kadmos"), has responded to Texas' call for nuclear power expansion via the Texas Advanced Nuclear Energy Office ("TANEO") Request for Information ("RFI") process. Kadmos' response outlines how Texas can help accelerate the deployment of new nuclear power generation, while anticipating fuel cycle considerations that will be crucial to its success.

Shaping the Texas Nuclear Frontier

The TANEO RFI seeks industry expertise to determine the permitting and workforce development actions necessary to streamline advanced nuclear power plant deployments in Texas. Kadmos, led by CEO Youssef Ballout, detailed Kadmos' vision during the Texas Nuclear Summit's "Nuclear is National Security"^[2] panel moderated by the Honorable Jeffrey Merrifield - a former presidential appointee to the Nuclear Regulatory Commission and leader of Pillsbury's Nuclear Energy Team.

Kadmos CEO Youssef Ballout speaking at the Texas Nuclear Summit

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9547/286358_2706a719b45519db_001full.jpg

Kadmos CEO Remarks

"The TANEO RFI is a critical step in securing the Texas grid for the next century. We are not just providing information on permitting reactors; we are providing a permanent and sovereign energy ecosystem." said Youssef Ballout, CEO of Kadmos Energy." With the support of Snow Lake, having investments in uranium mining and enrichment, and Exodys Energy, with its focus on uranium recycling, we are removing the two biggest hurdles in nuclear energy: fuel availability and waste management."

Mature Technology for Immediate Impact

Kadmos's response to the TANEO RFI emphasizes the use of pressurized water reactor (PWR) technology, similar to Texas' four operating commercial nuclear reactors at the Comanche Peak and the South Texas Project facilities. Unlike the more novel designs proposed, this mature technology facilitates Texas' shift from the information-gathering phase to widespread deployment with reduced regulatory, technical, and commercial adoption/supply chain risks. The majority of Kadmos' innovations stem from its turnkey commercial delivery model, rather than the technologies it employs. Most advanced reactor vendors lack the integration necessary to ensure the availability of replaceable parts and a trained workforce among other long-term conditions for success.

While the TANEO RFI explores the "how" of deployment, Snow Lake's corporate strategy helps Kadmos address the two most significant hurdles identified across the nuclear industry: fuel availability and waste management.

Snow Lake - Building a Front-End Nuclear Fuel Cycle Company

Snow Lake is building a front-end nuclear fuel cycle company with assets and investments in uranium mining and milling, uranium enrichment and small modular reactors, including:

• Uranium Mining and Milling: Snow Lake has assembled a portfolio of uranium exploration and development projects in Wyoming, Colorado and Utah, comprising one of the largest uranium resource bases in the U.S., together with one of the largest, most prospective uranium exploration projects in the prolific Powder River Basin in Wyoming - the Pine Ridge uranium project

• Uranium Enrichment: Snow Lake is the largest shareholder in Ubaryon, a private Australian company developing next generation uranium enrichment technology. Urenco, a leading global enrichment company, has invested A$5 million in Ubaryon to become the second largest shareholder
  
  
• Small Modular Reactors: Snow Lake is the largest shareholder of Kadmos, which gives Snow Lake an opportunity to participate in Kadmos' innovative approach to deploying small modular reactors to meet the accelerating global demand for electricity
  
  
• Opportunities in other Sectors of the Nuclear Fuel Cycle: Snow Lake is continually evaluating value accretive opportunities to expand its capabilities in other sectors of the front-end nuclear fuel cycle

Opportunities for Kadmos

The successful development of Snow Lake's mining and milling projects would present the opportunity for Kadmos to become an anchor customer for the offtake from these projects. In addition, by integrating Exodys Energy's uranium recycling technology, Kadmos provides Texas with a clear strategy to mitigate the long-term costs and liabilities of used nuclear fuel storage.

About Kadmos Energy Services LLC

Kadmos Energy Services LLC is an Idaho-based developer of pressurized water reactor (PWR) small modular reactor (SMR) power plants, focusing on providing reliable and sustainable energy through a vertically-integrated supply chain. Through its partners Snow Lake, with assets and investments in uranium mining and milling and enrichment, and Exodys Energy, with its focus on uranium recycling, Kadmos offers the only truly turnkey market solution for the future of nuclear power. Learn more at www.kadmosenergy.com

About Snow Lake Resources Ltd.

Snow Lake Resources Ltd. is developing a U.S. focused front-end nuclear fuel cycle company through a portfolio of U.S. uranium exploration and development projects in Wyoming, Colorado, and Utah, together with investments in next-generation uranium enrichment and small modular pressurized water reactors. Snow Lake continues to evaluate value accretive opportunities in other sectors of the front-end nuclear fuel cycle. 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	www.snowlakeenergy.com

 

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^[1] Texas Nuclear Summit
^[2] Nuclear is National Security

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286358

FAQ

What did Kadmos Energy submit to TANEO on March 5, 2026 for LITM shareholders?

Kadmos submitted a Request for Information response focused on deployment pathways for new reactors. According to Snow Lake, the response emphasizes mature PWR technology and turnkey delivery to reduce regulatory and supply‑chain risk for Texas deployment.

How does Snow Lake (LITM) say it will address nuclear fuel availability in Texas?

Snow Lake says it can help secure fuel via its front‑end fuel cycle investments. According to Snow Lake, its uranium mining projects and stake in enrichment developer Ubaryon support domestic fuel availability for Kadmos deployments.

Why did Kadmos recommend pressurized water reactors in the TANEO response for LITM investors?

Kadmos recommends PWRs because they are mature and align with existing Texas reactors. According to Snow Lake, using established PWR designs reduces technical, regulatory and supply‑chain adoption risks versus novel designs.

What role does Ubaryon play in Snow Lake's strategy for LITM and Kadmos?

Ubaryon is Snow Lake's enrichment‑technology investment intended to support fuel supply. According to Snow Lake, Ubaryon received an A$5 million investment from Urenco, underscoring third‑party interest in the technology.

How could Snow Lake's mining projects affect Kadmos' small modular reactor plans for LITM investors?

Snow Lake says its uranium projects could provide offtake opportunities for Kadmos, linking supply to reactor deployments. According to Snow Lake, successful development would let Kadmos act as an anchor customer for mined uranium.

What workforce and supply‑chain issues did Kadmos highlight in its TANEO response relevant to LITM?

Kadmos highlighted parts availability and trained workforce gaps as deployment barriers for new reactors. According to Snow Lake, Kadmos' turnkey model targets integration to ensure replaceable parts and workforce readiness for long‑term operations.