Snow Lake Receives FIRB Approval for the Acquisition of Global Uranium and Enrichment Limited and its Investment in Ubaryon

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].