Snow Lake Extends the Option Agreement for the Mound Lake Gallium Project

Core Viewpoint - Snow Lake Resources Ltd. has reached an agreement with Canadian Uranium Corp. to extend the option agreement for the Mound Lake Gallium Project, aligning with U.S. efforts to enhance domestic critical mineral supply chains [1][2][4]. Company Summary - Snow Lake Resources Ltd. focuses on developing its nuclear fuel cycle business while acquiring interests in North American critical minerals projects [4]. - The company aims to earn up to an 80% interest in the Mound Lake project through exploration expenditures and cash payments over two years [13]. - The Mound Lake project is an early-stage exploration site covering over 4,800 hectares and is prospective for lithium, cesium, tantalum, and gallium [9][10]. Industry Context - The U.S. Administration's Proclamation on January 14, 2026, emphasizes the need for domestic mining and processing of critical minerals to reduce reliance on imports, particularly for gallium [2][7]. - Gallium is classified as a critical mineral due to its essential role in various technologies, including semiconductors and military applications, with the U.S. currently importing 100% of its gallium needs [6][8]. - Historical exploration at Mound Lake has shown gallium values ranging from 50 to 110 ppm, indicating significant potential for future development [11].