Winnipeg, Manitoba--(Newsfile Corp. - January 15, 2026) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a nuclear fuel cycle company, announces that it has reached an agreement with Canadian Uranium Corp. ("Canadian Uranium") to extend the existing option agreement (the "Agreement") with respect to the Mound Lake Gallium Project ("Mound Lake"), situated north of Thunder Bay, Ontario, Canada.This Agreement is timely and coincides with the U.S. Administration's Proclamation " ...

Core Insights - Snow Lake Resources Ltd. has announced the completion of its 2025 drill program at the Pine Ridge Uranium Project, confirming widespread uranium mineralization and establishing continuity across multiple areas [1][2][4]. Drill Program Results - The drill program consisted of 114 holes totaling 38,000 meters (125,000 feet), with significant results including multiple zones of mineralization [6]. - Notable assay results include: - 2.6 meters at 0.101% (1,010 ppm) U3O8 from 257.6 meters in hole PR25-093, including 2.0 meters at 0.124% (1,240 ppm) U3O8 [6][8]. - Additional results include 1.2 meters at 0.040% (400 ppm) U3O8 from 173.7 meters in PR25-103 and 1.2 meters at 0.032% (320 ppm) U3O8 from 254.7 meters in PR25-105 [6][9]. Geological Insights - The mineralization is hosted in at least two major sandstone units within the Tertiary Ft. Union Formation, which are geologically and hydrologically isolated, indicating potential for future In-Situ Recovery (ISR) development [5][10]. - The southwest portion of the project shows mineralization in a lower sandstone package compared to the eastern area, suggesting additional exploration opportunities [7]. Project Overview - The Pine Ridge Uranium Project is located in the Powder River Basin of Wyoming, a key area for U.S. uranium production, and is in proximity to Cameco's Smith Ranch Mill, which has a licensed capacity of 5.5 million pounds of U3O8 per annum [10].

Core Viewpoint - Snow Lake Resources Ltd. has announced the dispatch of the Scheme Booklet by Global Uranium and Enrichment Limited to its securityholders, which is a significant step in the proposed acquisition process [1][11]. Group 1: Scheme Booklet Dispatch - GUE has completed the dispatch of the Scheme Booklet to all GUE Securityholders, in compliance with court orders [2][11]. - An Opt-in Notice is available for Selling Scheme Shareholders, allowing them to choose between receiving New Snow Lake Shares or participating in the Sale Facility [2][11]. Group 2: Importance of the Scheme Booklet - GUE Securityholders are advised to read the Scheme Booklet thoroughly, as it contains crucial information regarding voting and the implications of the Scheme Resolutions [4][7]. - The Scheme Booklet includes an Independent Expert's Report, which concludes that the proposed schemes are fair and reasonable for GUE Securityholders in the absence of a Superior Proposal [5][12]. Group 3: Recommendations and Voting - GUE Independent Directors unanimously recommend that securityholders vote in favor of the Scheme, provided there is no Superior Proposal and the Independent Expert maintains that the Scheme is in their best interests [6][12]. - Each GUE Independent Director intends to vote in favor of the Share Scheme or Option Scheme for the shares and options they control [6][12]. Group 4: Company Overview - Snow Lake Resources Ltd. is a Canadian company focused on uranium exploration and development, listed on NASDAQ under the ticker LITM, with projects in the U.S. and interests in next-generation uranium enrichment [9].

Winnipeg, Manitoba--(Newsfile Corp. - December 22, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces that Global Uranium and Enrichment Limited's ("GUE") Scheme Booklet has today been registered by the Australian Securities and Investments Commission ("ASIC").As previously announced by Snow Lake:On October 26, 2025 in relation to the proposed acquisition by Snow Lake of all of the fully paid ordinary shares in GUE ...

Core Viewpoint - Snow Lake Resources Ltd. is progressing with its acquisition of Global Uranium and Enrichment Limited, involving a share scheme and option scheme to facilitate the transaction [1][2]. Acquisition Details - Snow Lake intends to acquire all fully paid ordinary shares in GUE that it does not currently own, along with the cancellation of unlisted GUE options [1]. - The acquisition will be executed through a Share Scheme and an Option Scheme under the Corporations Act 2001 [1]. Court Approval - The Federal Court of Australia has approved the dispatch of an explanatory statement to GUE securityholders regarding the Schemes, along with notices for the upcoming Scheme Meetings [2]. Scheme Meetings - The Scheme Meetings are scheduled for January 27, 2026, in Sydney, Australia, with the Share Scheme Meeting at 10:00 am (AEDT) and the Option Scheme Meeting following at 11:00 am (AEDT) [3]. - GUE shareholders and optionholders registered by January 25, 2026, will be eligible to vote at their respective meetings [4]. Voting Instructions - GUE securityholders unable to attend the meetings are encouraged to submit a directed proxy before the meetings [5]. - Detailed participation information will be provided in the Scheme Booklet [5]. Scheme Booklet - The Scheme Booklet will be released on GUE's ASX market announcements platform and will also be available on GUE's website [6]. Board Recommendations - The Independent GUE Board has unanimously recommended that shareholders and optionholders vote in favor of the Schemes, pending no Superior Proposal arises and the independent expert's favorable conclusion [8]. - The Independent GUE Board members intend to vote in favor of the Schemes, representing 5,270,594 GUE shares and 750,000 GUE options as of the announcement date [9]. Company Overview - Snow Lake Resources Ltd. is a Canadian company focused on uranium exploration and development, with projects in the U.S. and interests in next-generation uranium enrichment and critical minerals [11].

Core Insights - Snow Lake Resources Ltd. announces significant progress by Ubaryon on its Uranium Enrichment Technology and other value-adding technologies [1][4] Operational Update - Ubaryon's Uranium Enrichment Technology is currently at Technology Readiness Level (TRL) 4, with plans to progress to TRL 5 over the next three years, contingent on meeting technical milestones [3][4] - The company has enhanced its technical team and laboratory capabilities to accelerate development across multiple workstreams [5] - Ubaryon is also developing chlorine isotope separation technology for next-generation molten salt nuclear reactors, with promising initial testing results [6] Technology Development - Ubaryon has created a sorbent powder for uranium recovery from waste solutions, which is currently under provisional patent and has attracted interest from various organizations [7] - The technology simplifies the uranium enrichment process by eliminating the need for conversion and deconversion steps, enhancing flexibility in the nuclear fuel supply chain [13] Regulatory Update - Urenco has received a "no objection ruling" from the Australian Foreign Investment Review Board, allowing for the completion of its investment in Ubaryon ahead of schedule [8] - Ubaryon has obtained "in principle" approval from Defence Export Control for future dealings with Urenco regarding its uranium technology, indicating no current strategic or security objections [9] - The company maintains compliance with Australian Safeguards and Non-Proliferation Office requirements, having undergone multiple inspections in 2025 [10] Company Background - Ubaryon is a private Australian company focused on developing a unique uranium enrichment technology based on chemical separation of naturally occurring uranium isotopes [11] - Established in 2015, Ubaryon has been actively pursuing patent applications and regulatory classifications for its technology since 2018 [12] - Snow Lake Resources Ltd. holds a significant stake in Ubaryon, with plans to acquire additional shares from Global Uranium and Enrichment Limited [14]

Core Viewpoint - Snow Lake Resources Ltd. has received FIRB approval for the acquisition of 100% of Global Uranium and Enrichment Limited and a 21.9% interest in Ubaryon Pty Ltd, marking a significant step in expanding its capabilities in the nuclear fuel cycle [1][3][6]. Acquisition Details - The acquisition of Global Uranium and Enrichment Limited (GUE) was initially announced on October 6, 2025, and is expected to be completed in early 2026 [1][4]. - Snow Lake became a cornerstone 19.9% investor in GUE in March 2025 and is a joint venture partner to acquire 100% of the Pine Ridge Uranium Project in Wyoming [4][6]. Strategic Partnerships - Urenco has also received FIRB approval for a A$5 million investment in Ubaryon for a 13% interest, which is expected to assist in the commercialization of Ubaryon's technology [3][8]. - Ubaryon is developing a unique uranium enrichment technology that simplifies the enrichment process by eliminating the need for conversion and deconversion of uranium [9]. Industry Alignment - The development of U.S. focused capabilities across the nuclear fuel cycle aligns with U.S. Administration policies aimed at enhancing national, economic, and energy security [4]. - Snow Lake's investments in uranium assets and next-generation enrichment technology position the company strategically within the nuclear fuel supply chain [10].

Core Insights - The U.S. Geological Survey has designated uranium as a critical mineral, highlighting its essential role in U.S. national, economic, and energy security [1][4][7] - This designation is expected to accelerate government actions to enhance U.S. nuclear independence and support domestic uranium supply chains [3][4] Company Overview - Snow Lake Resources Ltd. operates as a U.S.-focused nuclear fuel cycle company, emphasizing uranium mining, enrichment, and small modular reactors [3][5] - The company has uranium projects in the U.S. and Namibia, along with interests in critical minerals such as rare earths and lithium [5] Industry Implications - The designation may allow qualifying uranium projects to access government funding, streamlined permitting, and procurement advantages [4][7] - This aligns the U.S. domestic uranium industry with strategic national priorities, potentially influencing the ongoing review of foreign uranium imports [4][7]

Financial Performance - Total operating expenses for fiscal 2025 were C$12,067,903, a significant increase from C$5,805,055 in 2024, primarily due to higher consulting and professional fees [268]. - Net loss for fiscal 2025 was C$15,985,788, translating to a net loss per share of C$3.21, compared to C$6,850,918 and C$4.40 per share in 2024 [279]. - The company did not generate any revenues during the year ended June 30, 2025, remaining in the exploration stage [264]. Cash Flow and Financing - Cash flows used in operating activities amounted to C$9,390,622 in fiscal 2025, up from C$3,742,326 in 2024, driven by increased spending on exploration and corporate development [282]. - Cash flows provided by financing activities reached C$46,172,166 in fiscal 2025, significantly higher than C$6,909,611 in 2024, due to net proceeds from common share issuances [283]. - As of June 30, 2025, the company had cash of C$17,829,149, which is expected to cover operating expenses and capital expenditures for at least the next 12 months [289]. - The company plans to continue relying on equity or debt financing to maintain working capital and service expenditures, with no guarantee of successful financing due to market conditions [288]. Investment Activities - Investing cash outflows totaled C$21,479,352 in fiscal 2025, compared to C$4,481,208 in 2024, primarily for exploration and evaluation assets [284]. - In fiscal 2025, the company raised approximately US$44,207,788 through various public offerings, including net proceeds of US$2,897,622 from the August 2024 ATM Offering and US$40,033,238 from the April 2025 ATM Offering as of June 30, 2025 [286][297]. - The company invested US$10,000,000 in Kadmos Energy Services LLC, with US$2,000,000 paid in cash and US$8,000,000 secured by a promissory note [302]. - The company entered into a Subscription Agreement with GTI Energy Limited, acquiring 424,866,286 shares at A$0.0035 per share for a total of A$1,487,032 [298][299]. - On October 6, 2025, the company signed a binding Scheme Implementation Deed to acquire 100% of Global Uranium and Enrichment Limited [300]. Expenses Breakdown - Consulting fees surged to C$6,432,754 in fiscal 2025, compared to C$937,410 in 2024, reflecting efforts to raise capital for exploration activities [270]. - Professional fees for fiscal 2025 were C$1,584,940, slightly up from C$1,563,678 in 2024, but significantly lower than C$6,971,520 in 2023 [269]. - General and administrative expenses increased to C$1,133,908 in fiscal 2025 from C$380,746 in 2024, reflecting a scale-up in corporate activities [275]. Risk Management - The company is exposed to various financial risks, including market risk, credit risk, and liquidity risk [515]. - The overall risk management strategy aims to minimize potential adverse effects on financial performance due to market unpredictability [515]. - Different methods are employed to measure risks, such as sensitivity analysis for interest rate and foreign exchange risks [515]. - Ageing analysis is utilized for assessing credit risk [515]. - Beta analysis is conducted to determine market risk related to investment portfolios [515]. - Risk management is overseen by the board of directors [515]. - Further information on specific risks can be found in note 26 of the consolidated financial statements [515]. Corporate Governance - The company has no significant research and development plans at present, focusing instead on operational and financial management [305]. - The company issued 107,125 RSUs to directors and consultants, and reduced the price of all outstanding stock options to US$5.00 [306]. - The company is actively monitoring cash forecasts and managing performance against its forecasts to ensure financial stability [289]. - As of June 30, 2025, the company had made a claim against former directors for breach of fiduciary duty, seeking to recover payments totaling between US$1,392,000 and US$1,872,000 [294].

Core Insights - Snow Lake Resources Ltd. has launched Kadmos Energy Services LLC, marking its entry into the nuclear power sector with a focus on small modular reactors (SMRs) [1][4] - The strategic expansion aims to position Snow Lake as an integrated player in the nuclear value chain, transitioning from uranium exploration to power generation [4][14] - The company plans to invest up to US$10 million for a 49% ownership stake in Kadmos, with an initial investment of US$2 million already completed [8][9] Company Overview - Kadmos Energy Services LLC specializes in the design and deployment of small modular light water reactors, aiming to deliver safe and reliable nuclear power solutions [15] - Dr. Youssef Ballout, a veteran in nuclear technology, has been appointed as the founding CEO of Kadmos, bringing extensive experience from U.S. nuclear programs [2][10] - The leadership team at Kadmos is committed to delivering high-quality reactors that meet the energy demands of utilities and industrial customers [11][12] Strategic Focus - Kadmos will focus on providing turnkey, modular, and rapidly deployable light water reactors to meet the increasing electricity demands amid the global energy transition [5][10] - The strategy aligns with U.S. Administration policies aimed at expanding nuclear energy capacity and accelerating the deployment of advanced reactor technologies [14][16] - The company aims to quadruple nuclear energy production in the U.S. by 2050, supporting the reinvigoration of the nuclear industrial base [16] Investment and Development - Snow Lake's investment in Kadmos is intended to secure a cornerstone position in next-generation nuclear energy, with the remaining US$8 million to be contributed over time [9] - Exodys Energy will contribute its technical expertise in exchange for a 14.5% stake in Kadmos, enhancing the engineering efforts and fuel strategy [9] - Kadmos plans to disclose additional details regarding staffing, partnerships, and milestones for its first reactor project in the coming weeks [12]