Snow Lake completes highly successful drilling program at the Pine Ridge Uranium Project in Wyoming

Snow Lake Resources Ltd., dba 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) completed at the Pine Ridge Uranium Project (“Pine Ridge”), located in Wyoming’s fertile Powder River Basin, a 5050 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 only testing a very small percentage of the large land package, and established continuity of mineralization in multiple areas and identified at least 25 mineralized roll fronts within three large sandstone packages.

Highlights

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

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

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

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

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

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

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

• Best results from the drill program include:

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

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

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

Comments from Snow Lake CEO

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

Drilling program

The latest results from the Pine Ridge drill program further illustrate the continuous nature of the stacked roll faces noted in previous press releases. The mineralization occurs in at least two major sandstone units within the Tertiary Ft. Union Formation in the eastern and southwestern parts of Pine Ridge. The sandstone units, typically 200 to 300 meters deep and 335 to 400 meters deep, appear to be geologically and hydrologically isolated, allowing future ISR development.

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

Figure 1: Drilling in Pine Ridge in the Powder River Basin of Wyoming, USA

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Drilling results

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

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

Details of the drilling 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 most important uranium basin in the US. The project is surrounded by existing uranium projects owned by UEC and Cameco and is only approximately 9 miles from Cameco’s Smith Ranch Mill, which has a licensed capacity of 5.5 million pounds U.₃O₈ pa The Smith Ranch plant is one of the largest uranium production facilities in the US

Qualified person

The technical information contained in this press release has been reviewed and approved by Ron Scott PhD, PGeo, a qualified person as defined by the Securities and Exchange Commission’s Regulation SK 1300.

About Snow Lake Resources Ltd.

Snow Lake Resources Ltd. is a Canadian fuel cycle and critical minerals company listed on NASDAQ: LITM, with a portfolio of US-focused uranium projects, along with interests in next-generation uranium enrichment and small modular reactors. The Pine Ridge uranium project is an exploration-stage project in Wyoming, United States, and the Engo Valley uranium project is an exploration-stage project on the Skeleton Coast of Namibia. Snow Lake also has a portfolio of additional exploration-stage critical mineral projects in Manitoba, as well as investments in a number of publicly traded companies with critical mineral assets, including lithium, in North America. More information 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 significant risks and uncertainties. All statements, other than statements of historical fact, in this press release are forward-looking statements, including but not limited to statements regarding Snow Lake Resources Ltd. We base these forward-looking statements on our expectations and projections about future events, which we infer from information currently available to us. Forward-looking statements in this press release can be identified by the use of words such as “anticipate,” “believe,” “consider,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “could,” “plan,” “potential,” “predict,” “project,” “aim,” “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. Furthermore, certain forward-looking statements are based on assumptions about future events that may not prove to be accurate. Some of these risks and uncertainties are described in more detail in the section entitled “Risk Factors” in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no obligation to update such information except as required under applicable law.

Schedule A

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

Table 1: Uranium intercepted from the recently completed holes. The minimum thicknesses reported are >0.3 m and grade 200 ppmU₃O_8. “Inclusive” intervals are constructed with a cutoff of 0.05% U₃O_8.

Table 2: Drill collar details for drill holes.

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

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Figure 3: Cross section, looking west, from A to A’. Significant results from the newly reported drillings are highlighted, while previously reported holes are colored gray.

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Figure 4: Pine Ridge Uranium Project and adjacent properties.

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