New Risk • May 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (130% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (US$38.6m market cap). New Risk • Mar 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (152% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$25m net loss next year). Market cap is less than US$100m (US$36.4m market cap). Announcement • Feb 13
Snow Lake Resources Ltd. (NasdaqCM:LITM) completed the acquisition of remaining 80.30% stake in Global Uranium and Enrichment Limited (ASX:GUE). Snow Lake Resources Ltd. (NasdaqCM:LITM) entered into a binding Scheme Implementation Deed to acquire remaining 80.30% stake in Global Uranium and Enrichment Limited (ASX:GUE) for approximately AUD 35.5 million on October 6, 2025. Global Uranium shareholders will receive AUD 0.0968 in Snow Lake shares for each GUE Share held. The number of new Snow Lake shares will be based on a formula and adjusted for the USD/AUD exchange rate, subject to a maximum of 0.083878 new Snow Lake shares for each GUE Share held. Upon completion, Snow Lake Resources Ltd. will own 100% stake in Global Uranium and Enrichment Limited. GUE shareholders (excluding Snow Lake, which has an existing 19.7% shareholding in Global Uranium) to own ~33% of pro-forma shares outstanding of the enlarged Snow Lake (Combined Group) if the Scheme is implemented. Upon implementation of the Schemes, the Snow Lake Board remains unchanged, while Tim Brown and Jim Viellenave from Global Uranium's executive team join as U.S. Country Manager and Technical Adviser, respectively. In case of termination of transaction, Snow Lake Resources Ltd. and Global Uranium and Enrichment Limited will pay a termination fee of AUD 0.68 million.
The transaction is contingent upon several conditions: (a) FIRB approval must be obtained on the Business Day immediately prior to the Second Court Date, with the Treasurer of the Commonwealth of Australia providing a written notice of no objection, which must be unconditional or reasonably acceptable to Snow Lake. (b) The Court must approve the Scheme in accordance with section 411(4)(b) of the Corporations Act, satisfying Section 3(a)(10) of the U.S. Securities Act for all New Snow Lake Shares. (c) GUE Shareholders, excluding Excluded Shareholders, must approve the Scheme at the Scheme Meeting by the requisite majorities under section 411(4)(a)(ii) of the Corporations Act. (d) An Independent Expert must issue a report concluding that the Scheme is in the best interests of GUE Shareholders, and this conclusion must remain unchanged before the Scheme Booklet is registered by ASIC. (e) All necessary regulatory conditions, including those from ASIC, ASX, and Canadian securities laws, must be fulfilled on the Second Court Date. (f) The New Snow Lake Shares must be approved for listing on Nasdaq. (g) The Convertible Notes Completion must occur by the tenth Business Day after the date of this deed. (h) No Government Agency should take action to prevent or prohibit the Scheme, and no material adverse changes or prescribed events should occur for either GUE or Snow Lake. (i) All warranties and undertakings must remain unbreached, and (j) GUE must ensure all performance rights are addressed as per the Scheme Implementation Deed. The transaction is also subject to the cancellation of Private Treaty Options as outlined in the deed. The Independent GUE Board has unanimously recommended that GUE securityholders vote in favour of the Schemes. The expected completion of the transaction is in the first quarter of 2026. As of December 8, 2025 Snow Lake Resources Ltd has received its Australian Foreign Investment Review Board ("FIRB") approval for the acquisition. As of 19 December 2025, the Scheme Meetings will take place 27 January 2026. The transaction is expected to be effective on 4 February 2026. As per the announcement dated January 27, 2026 the transaction has been approved by the shareholders of Global Uranium and Enrichment Limited. As of February 3, 2026 the deal has been approved by the Federal Court of Australia.
Canaccord Genuity Group Inc. acted as financial advisor for Global Uranium and Enrichment Limited. Sternship Advisers Pty Ltd. acted as financial advisor for Snow Lake Resources Ltd. Scott Gibson and Michael Ng, Cameron Bill of Thomson Geer acted as legal advisor for Global Uranium and Enrichment Limited. James Nicholls, Emily Eardley, Alexis Brensell and Emily Wang of Hamilton Locke Pty Ltd acted as legal advisor for Snow Lake Resources Ltd. Garfinkle, Biderman LLP acted as legal advisor for Snow Lake Resources Ltd. Nauth LPC acted as legal advisor for Snow Lake Resources Ltd. Automic Pty Ltd. acted as registrar for Global Uranium and Enrichment Limited.
Snow Lake Resources Ltd. (NasdaqCM:LITM) completed the acquisition of remaining 80.30% stake in Global Uranium and Enrichment Limited (ASX:GUE) on February 13, 2026.. Announcement • Jan 14
Snow Lake Completes Highly Successful Drill Program At the Pine Ridge Uranium Project in Wyoming Snow Lake Resources Ltd. announced that it has received the final set of drill results from an additional 21 drill holes (out of a total of 114 holes) that have been completed on the Pine Ridge Uranium Project ("Pine Ridge"), located in the prolific Powder River Basin in Wyoming, a 50/50 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 testing only a very small percentage of the large land package, and established the continuity of mineralization in multiple areas and identified at least 25 mineralized roll fronts contained within three major sandstone packages. Final 2025 program drill results continue to highlight multiple zones of mineralization at Pine Ridge; Highly successful drill program was completed with 114 holes and 38,000m (125,000 ft); Drilling results have continued to define roll front mineralization and have increased the number of mineralized horizons. New results include: 1.2m at 0.040% (400 ppm) U O from 173.7m in PR25-103 and: 0.8m at 0.045% (450 ppm) U O from 176.0m; 0.9m at 0.041% (410 ppm) U O from 194.2m in PR25-102 and: 1.1m at 0.1m at 0.029% (290 ppm) U O from 196.3m; 1.2m at 0.,2m at 0.032% (320 ppm) U O from 254.7m in PR25 -106; Best results from the drill program include: 2.6m at 0.101% (1,010 ppm) U O from 257.6m in PR25-093 including; 2.0m at 0.124% (1,240ppm) U O at 257.9m; 2.0m at0.092% (920 ppm) U O from 314.8m in PR25-017, including 1.2m at 0".2m at 0.132% (1,320 ppm) U O from 315.0m. 3.5m at 0.054% (540 ppm) U O from 321.3m in PR25-031, including 1.1m at 0.,1m at 0.078% (780 ppm) U O from 321". Drilling reported in the most recent area drilled has further supported this geologic interpretation while returning the most significant assay results to date with the previously reported 2.6m at 0.,101% (1,010ppm U O from 257.6 m including 2.0m at 0.,124% (1,010 ppm") U O from 257.6M including 2.0m at0". New Risk • Dec 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$16m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (325% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$25m net loss next year). Market cap is less than US$100m (US$28.8m market cap). Announcement • Oct 06
Snow Lake Resources Ltd. (NasdaqCM:LITM) entered into a binding Scheme Implementation Deed to acquire remaining 80.30% stake in Global Uranium and Enrichment Limited (ASX:GUE) for approximately AUD 35.5 million. Snow Lake Resources Ltd. (NasdaqCM:LITM) entered into a binding Scheme Implementation Deed to acquire remaining 80.30% stake in Global Uranium and Enrichment Limited (ASX:GUE) for approximately AUD 35.5 million on October 6, 2025. Global Uranium shareholders will receive AUD 0.0968 in Snow Lake shares for each GUE Share held. The number of new Snow Lake shares will be based on a formula and adjusted for the USD/AUD exchange rate, subject to a maximum of 0.083878 new Snow Lake shares for each GUE Share held. Upon completion, Snow Lake Resources Ltd. will own 100% stake in Global Uranium and Enrichment Limited. GUE shareholders (excluding Snow Lake, which has an existing 19.7% shareholding in Global Uranium) to own ~33% of pro-forma shares outstanding of the enlarged Snow Lake (Combined Group) if the Scheme is implemented. Upon implementation of the Schemes, the Snow Lake Board remains unchanged, while Tim Brown and Jim Viellenave from Global Uranium's executive team join as U.S. Country Manager and Technical Adviser, respectively. In case of termination of transaction, Snow Lake Resources Ltd. and Global Uranium and Enrichment Limited will pay a termination fee of AUD 0.68 million.
The transaction is contingent upon several conditions: (a) FIRB approval must be obtained on the Business Day immediately prior to the Second Court Date, with the Treasurer of the Commonwealth of Australia providing a written notice of no objection, which must be unconditional or reasonably acceptable to Snow Lake. (b) The Court must approve the Scheme in accordance with section 411(4)(b) of the Corporations Act, satisfying Section 3(a)(10) of the U.S. Securities Act for all New Snow Lake Shares. (c) GUE Shareholders, excluding Excluded Shareholders, must approve the Scheme at the Scheme Meeting by the requisite majorities under section 411(4)(a)(ii) of the Corporations Act. (d) An Independent Expert must issue a report concluding that the Scheme is in the best interests of GUE Shareholders, and this conclusion must remain unchanged before the Scheme Booklet is registered by ASIC. (e) All necessary regulatory conditions, including those from ASIC, ASX, and Canadian securities laws, must be fulfilled on the Second Court Date. (f) The New Snow Lake Shares must be approved for listing on Nasdaq. (g) The Convertible Notes Completion must occur by the tenth Business Day after the date of this deed. (h) No Government Agency should take action to prevent or prohibit the Scheme, and no material adverse changes or prescribed events should occur for either GUE or Snow Lake. (i) All warranties and undertakings must remain unbreached, and (j) GUE must ensure all performance rights are addressed as per the Scheme Implementation Deed. The transaction is also subject to the cancellation of Private Treaty Options as outlined in the deed. The Independent GUE Board has unanimously recommended that GUE securityholders vote in favour of the Schemes. The expected completion of the transaction is in the first quarter of 2026.
Canaccord Genuity Group Inc. acted as financial advisor for Global Uranium and Enrichment Limited. Sternship Advisers Pty Ltd. acted as financial advisor for Snow Lake Resources Ltd. Thomson Geer acted as legal advisor for Global Uranium and Enrichment Limited. Hamilton Locke Pty Ltd acted as legal advisor for Snow Lake Resources Ltd. Garfinkle, Biderman LLP acted as legal advisor for Snow Lake Resources Ltd. Nauth LPC acted as legal advisor for Snow Lake Resources Ltd. Automic Pty Ltd. acted as registrar for Global Uranium and Enrichment Limited. Announcement • Sep 17
Snow Lake Resources Ltd. Announces Excellent Initial Drill Results on Its Pine Ridge Uranium Project, Located in the Prolific Powder River Basin in Wyoming Snow Lake Resources Ltd. announced excellent initial drill results on its Pine Ridge Uranium Project ("Pine Ridge"), located in the prolific Powder River Basin in Wyoming, a 50/50 joint venture (the "Joint Venture") with Global Uranium and Enrichment Limited ("GUE"). The Joint Venture has completed a total of 33 holes on Pine Ridge, for a total of 12,540m (41,140 ft) of drilling. The drilling has delivered encouraging intercepts including 1.1m at 780 ppm U O within a broader interval of 3.5m at 540 ppm U O and including 1.2m at 1,320 ppm UO within a broader interval of 2.0m at 920 ppm U O. Highlights: Drill results from the first 33 drill holes confirm the strong potential of Pine Ridge; Wide-spaced drilling focused on aggressively exploring near-surface roll front mineralisation, returned encouraging results, including: 2.0m at 0.092% (920 ppm) U O from 314.8m in PR25-017, including 1.2m at 0.132% (1,320 ppm) U O from 315.6m in PR25-008 including 1.7m at 0.085% (850 ppm) U O from 411.9m; 1.4m at 0.035% (350 ppm) U O from 237.3m in PR25-004; 1.1m at 0.031% (310 ppm) U O from 334.0m in PR25-005; 2.1m at 0.034% (340 ppm) U O from 348.1m in PR25-007; 1.8m at 0.042% (420 ppm) U O from 388.0 in PR25-009; 3.5m at 0.054% (540 ppm) U O from 321.3m in PR25 -031, including 1.1m at 0.,078% (780 ppm) U O from 321.,4m, 1.8m at 0.,060% (600 ppm) U O from 350.4m in PR25-023 including 1.2m at0.073% (730 ppm) U O from 350.,5m, 4.0m at 0.035% ("350 ppm) U O from 315.,3m in PR25-027; 2.1m at0.048% (480 ppm) U O from 276.1m at 0.046% (460 ppm) U O from 378.6m in PR25 -020. Drilling is ongoing and is expected to continue through to the end of November 2025. Announcement • Aug 06
Snow Lake Resources Ltd. (NasdaqCM:LITM) entered into an unsolicited, indicative and nonbinding offer to acquire Horse Heaven Antimony-Gold-Tungsten Project from Resolution Minerals Ltd (ASX:RML) for approximately AUD 230 million. Snow Lake Resources Ltd. (NasdaqCM:LITM) entered into an unsolicited, indicative and nonbinding offer to acquire Horse Heaven Antimony-Gold-Tungsten Project from Resolution Minerals Ltd (ASX:RML) for approximately AUD 230 million on August 2, 2025. The consideration was paid via a combination of cash and LITM shares. Snow Lake has also requested a period of exclusivity to conduct due diligence and finalize negotiations with RML on the terms of the Offer. Announcement • Jul 25
Snow Lake Resources Ltd. Announces Exploration Drilling Underway At the Pine Ridge Uranium Project in Wyoming Snow Lake Resources Ltd. announced that its initial exploration drill program is now underway at the Pine Ridge Uranium Project in Wyoming ("Pine Ridge"), a 50/50 joint venture (the "Joint Venture") with Global Uranium and Enrichment Limited ("GUE"). Pine Ridge is located in the Powder River Basin in Wyoming, the most significant area for uranium production in the U.S., primarily via ISR production methods. The Joint Venture's maiden drill program at Pine Ridge, consisting of 38,000m (125,000ft) of drilling, will focus on testing high priority targets. Highlights: Drill permit approval received from Wyoming Department of Environmental Quality (DEQ) for the maiden drill program at the Pine Ridge. Pine Ridge is a near-development In-Situ Recovery (ISR) uranium project located in the heart of Wyoming's prolific Powder River Basin and primed for rapid advancement. A large and aggressive drill program of 38,000m (125,000ft) began this week with high priority drill targets identified. Pine Ridge is located 15km from Cameco's Smith Ranch Mill and is surrounded by established uranium projects held by UEC and Cameco. Exploration Program Overview: The Drilling Permit has been received from Wyoming DEQ and the drill program has begun. Single Water Services LLC will conduct the drilling program and has successfully completed numerous previous drilling campaigns at Pine Ridge. Their familiarity is expected to support an efficient and well executed program, with the potential addition of a second rig to accelerate progress. A contract has also been signed with Hawkins CBM Logging Inc. from Cody, Wyoming. Mr. Soliz has significant experience and expertise in the region, highlighted by more than 25 years of exploration and production experience in the Powder River Basin, including at the adjacent Smith Ranch project operated by Cameco. The geologic modeling has guided the identification of high-priority drill targets in the area with approximately 38,000m (125.,000 ft) of drilling to be completed inside these areas during the initial exploration program. Announcement • Jul 18
Snow Lake Resources Ltd. Announces Drilling Program At Pine Ridge Snow Lake Resources Ltd., d/b/a Snow Lake Energy provided an update on progress at its uranium projects in Wyoming and Namibia, together with how the exploration and development of such projects hold the potential to directly support U.S. national and energy security objectives. Highlights: Drill rigs set to start turning the week of July 21, 2025 at the Pine Ridge uranium project ("Pine Ridge") in Wyoming; Pine Ridge is a 50/50 joint venture (the "Joint Venture") between Snow Lake and Global Uranium and Enrichment Limited ("GUE") The drill campaign at Pine Ridge is planned to undertake a total of 38,000m (125,000ft) of drilling; Pine Ridge is a near development In-Situ Recovery ("ISR") uranium project located in the heart of Wyoming's prolific Powder River Basin primed for rapid advancement; The objective of the current drill program at Pine Ridge is to produce a maiden resource estimate prior to the end of 2025; The Engo Valley uranium project ("Engo Valley") Phase 2 drill program continues, and is planned to consist of up to approximately 7,500 meters of a combination of reverse circulation and diamond drilling; Phase 2 is designed to provide a drill database sufficient to calculate a maiden uranium resource estimate in accordance with SK-1300 prior to the end of 2025. U.S. Administration executive orders on nuclear energy and domestic production of critical minerals, including uranium, provide significant tailwinds to support the development of Pine Ridge and Engo Valley projects. The Nuclear Executive Orders are designed to Accelerate the deployment of nuclear energy in the U.S. Deploy advanced nuclear reactor technologies, including SMRs; Quadruple nuclear energy in the U. S. by 2050; Reinvigorate the nuclear industrial base, including uranium mining and enrichment; Combined with all previous Executive Orders on critical minerals, these orders will: Dramatically increase global demand for uranium; Accelerate U.S. domestic uranium mining; The AI arms race between the U.S. and China continues to heat up, and is driving massive: Investments in data centres to drive the AI revolution; Demand for nuclear energy to power data centres; Demand for uranium, including new uranium mines, to power nuclear reactors; Acceleration of Pine Ridge Development Timelines; The Executive Orders have the potential to fast-track Pine Ridge through development, permitting, and into production. The Joint Venture has selected Single Drilling to execute its initial drilling program at Pine Ridge. Single Drilling brings extensive operational experience, having successfully completed numerous previous drilling campaigns at the Pine Ridge site. Drill Program at Engo Valley: The Phase 2 drill program ("Phase 2") at Engo Valley has been designed to follow up on the Phase 1 drill program completed in 2024, and will focus on the MUO and D1 target areas. The objective of Phase 2 is to develop a drill data base sufficient to calculate a maiden mineral resource estimate for Engo Valley by the end of 2025. A total of 5,784 meters of drilling were completed, including 1,061 meters of diamond drilling. A historic, non-compliant S-K 1300 mineral resource estimate was completed by Gencor in the 1970's on the MUO and D 1 Extension. The Phase 1 drill program ("Phase 1"), completed in 2024, consisted of 1,570 meters of reverse circulation drilling in 20 holes. The Phase 2 drill program is planned to consist of up To approximately 7,500 meters of reverse circulation and diamond drilling, and is designed to provide a drill databases sufficient to calculate a maiden resource estimate in accordance withSK-1300. A total of 21 infill RC holes have been completed in the MUO, 6 infill RC holes within the D1 North area, and will be completed in the D1 North area. Announcement • Jun 20
Snow Lake Resources Ltd. Receives Positive Preliminary Results from Engo Valley Phase 2 Drill Program Snow Lake Resources Ltd. announced that it has received some positive initial results from the Phase 2 drill program at the Engo Valley Uranium Project ("Engo Valley"). First segment of the Phase 2 drill program is now complete; A total of 31 reverse circulation (RC) drill holes completed for a total of 2,719 meters; 8 out of the 31 RC drill holes in the first segment returned mineralized intersections greater than 100 ppm eUO, ranging from 1 meter to 20 meters in width; Samples from each drill hole have been sent for chemical assays and results are pending; Phase 2 drill program is planned to consist of up to 7,500 meters of a combination of reverse circulation and diamond drilling, and is designed to provide a drill database sufficient to calculate a maiden uranium mineral resource estimate in accordance with SK-1300; Maiden mineral resource estimate is currently scheduled for completion before the end of 2025. Update - Phase 2 Drill Program: A total of 21 infill RC holes have been completed in the MUO, 6 infill RC holes within the D1 North area, and 4 RC holes were completed in the MUO-D1 area. Downhole radiometrics were completed on each drill hole with a gamma spectrometer probe. The reader is caused that Snow Lake uses eUO calculations as a preliminary indication for chemical grades that have yet to be confirmed by chemical assays. Notable results from the downhole radiometrics on the first segment of drilling include: Mineralized intersection of 997 ppm eUO over a 7 m interval, associated with shale, observed from drill hole ERCH025; Mineralized intersection of 296 ppm eUO over a 1.2m interval, associated with shale, associated with shale, observed by drill hole ERCH026.lection and preparation of samples for wet chemical analysis is in progress. Samples will be submitted to ALS laboratories. Analysis of data from the Phase 1 drill program samples did confirm that radiometric grades are reliable and can be used as equivalent radiometric grades. Sampling is undertaken on each meter interval. Selective sampling of drill holes using downhole radiometric grades has been carried out based on this outcome. The diamond drilling segment of the Phase 2 drill programs is scheduled to start during the week of June 15, 2025. A total of 19 diamond drill holes are planned for the MUO and 8 diamond drill holes are planned to be drilled in the D1 area. The objective of the Phase 2 drill program are to develop a drill data base sufficient to calculate a maiden mineral resource estimate for Engo Valley by the end of 2025. Phase 2 is focused on the MUO, and the D1 target area. Assuming the Phase 2 drill program continues to go according to plan and assay results are received in a timely fashion, the preparation of a maiden mineral resource estimate forEngo Valley is targeted for completion before the end of 2020. Board Change • Jun 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Chairman Nachum Labkowski is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • May 09
Snow Lake Resources Ltd. Approves Election of Jack Wortzman as Director Snow Lake Resources Ltd. approved election of Jack Wortzman as the Company's director. Announcement • Apr 19
Snow Lake Resources Ltd., Annual General Meeting, May 08, 2025 Snow Lake Resources Ltd., Annual General Meeting, May 08, 2025. Location: (meeting id: 865 6843 2793), Canada Announcement • Apr 17
Snow Lake Resources Ltd. Announces Phase 2 Drill Program At Its Engo Valley Uranium Project Snow Lake Resources Ltd. announced that the Phase 2 drill program at its Engo Valley Uranium Project ("Engo Valley") is now underway. Phase 2 drill program is now underway. Drill crews are on site, have established their exploration camp, and the initial drill holes comprising the Phase 2 drill program have now been completed. Phase 2 is planned to consist of up to 7,500 meters of a combination of reverse circulation and diamond drill holes, and is designed to provide a drill database sufficient to calculate a maiden uranium mineral resource estimate in accordance with SK-1300. Maiden mineral resource estimate is currently scheduled for completion during the second half of 2025. Phase 2 also includes plans to test a number of additional targets in the north and south parts of the project, outside of the two targets which are the main focus of Phase 2. The Phase 2 drill program has been planned to consist of an aggregate of up to 7, 500 meters of a combination of reverse distribution and diamond drill holes in an in-fill grid pattern sufficient to allow the calculation of a maiden mineral resource estimate. Phase 2 will be focused on the Main Uranium Occurrence ("MUO"), and the D1 target area ("D1"). A number of drill holes will be undertaken on some of the targets identified by the radon cup survey undertaken in 2024, outside of the MOU and D1. Downhole radiometrics will be conducted on each drill hole. Assuming the Phase 2 drill program goes according to plan and assay results are received in a timely fashion, the preparation of a maiden mineral resource estimate for Engo Valley is targeted for completion during the Second half of 2025. Announcement • Mar 18
Snow Lake Resources Ltd. (NasdaqCM:LITM) announces an Equity Buyback for $10 million worth of its shares. Snow Lake Resources Ltd. (NasdaqCM:LITM) announces a share repurchase program. Under the program, the company will repurchase $10 million worth of its shares. The purpose of the program is enhancing shareholder value and market presence. All Common Shares acquired will be returned to treasury and cancelled. The program will be ending on April 24, 2025. Announcement • Feb 15
Snow Lake Resources Ltd. Announces Successful Completion of the Phase 1 Drill Program At Its Engo Valley Uranium Project Snow Lake Resources Ltd. announced the successful completion of the Phase 1 drill program at its Engo Valley Uranium Project ("Engo Valley"), confirming significant uranium mineralization and setting the stage for an ambitious Phase 2 drill campaign. Phase 1 drill program consisted of 1,570 meters of drilling in 20 reverse circulation drill holes, with downhole radiometrics completed on each drill hole. 11 of the 20 drill holes in Phase 1 returned mineralized intersections greater than 100 ppm eU, ranging from 1 meter to 20 meters in width. Initial chemical assays confirm a positive correlation between chemical assays and equivalent radiometric assays. Geology of the twinned drill holes confirm a positive correlation to the lithologies from the exploration work undertaken in the 1970s. Phase 2 drill program is planned to consist of up to 7,500 meters of a combination of reverse circulation and diamond drill holes, and is designed to provide a drill database sufficient to calculate a uranium maiden resource estimate in accordance with SK-1300. The global uranium market is valued at over $6 billion annually, with significant growth forecast by increasing demand driven by the U.S. government's commitment to nuclear energy security. Recent MOU with Exodys Energy positions Snow Lake as a key player in securing a reliable uranium supply for increased energy demand and progress projects across the nuclear energy supply chain. Phase 2 drill program is currently planned to consist of an aggregate of up to 7, 500 meters of a combination of reverse distribution and diamond drill holes in an in-fill grid pattern sufficient to allow the calculation of a maiden mineral resource estimate. Phase 2 will be focused on the MUO and D1. A number of drill holes will be undertaken on some of the targets identified by the Radon Survey outside of the MOU and D1. Downhole radiometrics will be conducted on each drill hole. Phase 2 is currently scheduled to begin mobilization to site in March 2025, and assuming drilling goes according to plan and assay results are received in a timely fashion, the preparation of a maiden mineral resource estimate is targeted for completion during the second half of 2025. With over $30 million in cash & equivalents from recent equity financings, Snow Lake is well-positioned to carry out both the Phase 2 drill program and publish a maiden mineral resource estimate in the second half of 2025. As nuclear power gains global momentum, the demand for uranium is reaching unprecedented levels. Namibia, the world's third-largest uranium producer, provides an excellent jurisdiction for Snow Lake to establish a long-term, economic resource that can help meet this growing demand. Phase 1 Drill Program: The Phase 1 drill program ("Phase 1") consisted of 1, 570 meters of drilling in 20 Reverse circulation drill holes, with down hole radiometrics completed on each drilling hole. 11 of the 20 drilling holes in Phase 1 returned mineralization greater than 100 ppm eU., ranging from 1 meter to 20 metres in width, Initial chemical assays confirmed a positive correlation between chemical assay and equivalent radiometric assays, Geology of the twinned drilling holes confirm a positive correlation to The Cornerstone of Energy Security: As nuclear power gains global momentum. As nuclear power gains global strength, the demand for uranium is reach unprecedented levels. Namibia, The world's third-largest uranium producers, provides an excellent jurisdiction for snow Lake to establish a long- term, economic resource that can help met this growing demand. The Phase 1 drill program (" Phase 1") consisted of 1,570 metres of drilling in 20 reverse circulation and diamond drill holes in Phase 1 drill holes, ranging from 1 meters in width, initial chemical assays, Initial chemical assays confirm apositive correlation between chemical assays andivalent radiometric assays, Geologists of the twinned drill holes confirmed a positive correlation to the lithology of the twinned drillholes confirm a positive correlation to the Lithologies from the explorationwork undertaken in the 1970s, Phase 2 drill program. Announcement • Jan 28
Snow Lake Resources Ltd. has completed a Follow-on Equity Offering in the amount of $16 million. Snow Lake Resources Ltd. has completed a Follow-on Equity Offering in the amount of $16 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 16,000,000
Price\Range: $1
Discount Per Security: $0.065 Announcement • Jan 24
Snow Lake Resources Ltd. has filed a Follow-on Equity Offering in the amount of $16 million. Snow Lake Resources Ltd. has filed a Follow-on Equity Offering in the amount of $16 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 16,000,000
Price\Range: $1 New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (48% average daily change). Earnings have declined by 49% per year over the past 5 years. Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (US$25.2m market cap). Announcement • Jan 01
Snow Lake Resources Ltd. has completed a Follow-on Equity Offering in the amount of $15 million. Snow Lake Resources Ltd. has completed a Follow-on Equity Offering in the amount of $15 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 18,750,000
Price\Range: $0.8
Discount Per Security: $0.052 Announcement • Dec 28
Snow Lake Resources Ltd. has filed a Follow-on Equity Offering. Snow Lake Resources Ltd. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Security Name: Pre-funded Warrants
Security Type: Equity Warrant Announcement • Dec 21
Snow Lake Resources Ltd. has completed a Follow-on Equity Offering in the amount of $6.4575 million. Snow Lake Resources Ltd. has completed a Follow-on Equity Offering in the amount of $6.4575 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 15,750,000
Price\Range: $0.41
Discount Per Security: $0.02665 Announcement • Dec 19
Snow Lake Resources Ltd. has filed a Follow-on Equity Offering. Snow Lake Resources Ltd. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Security Name: Pre-funded Warrants
Security Type: Equity Warrant New Risk • Dec 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 98% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (98% average weekly change). Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (US$5.24m market cap). Minor Risk Shareholders have been diluted in the past year (41% increase in shares outstanding). New Risk • Dec 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 41% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (US$5.29m market cap). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (41% increase in shares outstanding). Announcement • Oct 22
Snow Lake Resources Ltd., d/b/a Snow Lake Energy Announces Commencement of Drilling on the Engo Valley Uranium Project Snow Lake Resources Ltd., d/b/a Snow Lake Energy announced the commencement of drilling on the Engo Valley Uranium Project in Namibia. A two-phase drill program designed to confirm the existence, and to delineate the extent, of historically documented uranium mineralization. The first phase is underway, consisting of approximately 1,500 meters of reverse circulation drilling, to both twin and initiate an in-fill grid pattern between the historical drill holes. Downhole radiometrics will be undertaken on each new drill hole, with initial results expected shortly after drilling is completed. A second phase of drilling, consisting of approximately 2,100 meters of reverse circulation drilling, will be undertaken after the first phase to expand the infill grid with spacing sufficient to produce an initial SK-1300 compliant mineral resource estimate. The Engo Valley Uranium Project (the "Project") is located on the Skeleton Coast of northwest Namibia, approximately 600 kilometers north of Swakopmund. Namibia is currently the world's third-largest producer of uranium, accounting for 11% of global production in 20221. Uranium mineralization was discovered at the Project in 1973 and exploration was conducted intermittently by Gencor between 1974 and 1980. The Project holds Exclusive Prospecting License 5887 which covers an area of 69,530 hectares and is valid until February 12, 2026. Snow Lake currently holds an effective 68% interest in the Project, with the ability to increase its interest to 85% upon incurring additional exploration expenditures. The Project is considered to be an underexplored, top tier exploration project with historical, non-mining code compliant uranium resources that would benefit from modern exploration techniques and technology for uranium exploration. Current uranium development activities in Namibia include: Deep Yellow Limited progressing the development of its Tumas Uranium Project, with commercial production projected for 2026 and Bannerman Energy Ltd. undertaking early works activities on its Etango Uranium Project as it advances towards a final investment decision. If these two projects reach commercial production, they will join the three currently operating uranium mines: Rossing, Husab and Langer Heinrich. Forsys Metals Corp. has reached the mineral resource estimate stage of development on its Norasa Uranium Project. Current uranium production will not meet forecasted uranium demand over the next decade. New sources of primary uranium supply will need to be developed to meet this demand. Uranium is used primarily to produce fuel for nuclear power plants for the generation of electricity. Nuclear energy provides clean, carbon and emissions free, reliable base-load, low-cost energy with greater generating capacity per land footprint than other fuel sources. Nuclear energy underpins the three major global trends of electrification, decarbonization, and energy security. Electrification - replacing technologies or processes that use fossil fuels with electrically-powered equivalents. Global demand for electricity is estimated to grow by approximately 50% by 2040, driven in large part by the growth in data centres to support artificial intelligence (AI), cloud storage and Zoom calls. Decarbonization - process of reducing greenhouse gas emissions to net zero to limit global warming. Effective decarbonization actions include shifting the energy mix away from fossil fuels and toward zero emissions electricity and other low-emissions energy carriers such as hydrogen, adapting industrial and agricultural processes, and increasing energy efficiency. Energy security - the uninterrupted availability of energy sources at an affordable price. Geopolitical events, supply chain disruptions and the COVID pandemic have all renewed the global focus on energy security. As a clean energy company, Snow Lake continues to review North American net-zero resource opportunities in the clean energy space that have the potential to be commercialized, create shareholder value, and complement its current portfolio of uranium and lithium projects. Announcement • Oct 16
Snow Lake Resources Ltd. Completes its Field Exploration Season on the Shatford Lake Project Snow Lake Resources Ltd., d/b/a Snow Lake Energy announced that the 2024 field exploration season on the Shatford Lake Project has been successfully completed. Highlights 2024 prospecting /reconnaissance program successfully completed; Results included the discovery of numerous pegmatites under heavy overburden; Significant discovery of a ~25 - 30 meter-wide tantalite-bearing pegmatite on the Cat-Euclid Lake claim block, indicating the potential for lithium, cesium, tantalum mineralization similar to the Tanco Mine. About the Shatford Lake Project The Shatford Lake Project (the "Project") is an exploration stage project located in Southern Manitoba, contiguous to the southern boundary of the Tanco Mine. The region hosts hundreds of individual pegmatite bodies, many of which are classified as complex rare-element lithium-cesium-tantalum ("LCT") pegmatites. Accordingly, the Shatford Lake Project holds the potential for LTC mineralization. The Project is comprised of 37 mineral claims located over three project areas - Shatford Lake, Birse Lake, and Cat-Euclid Lake, totaling approximately 17,000 acres. Thirty-one of the mineral claims are contiguous to the Tanco Mine. Snow Lake has entered into an option agreement with ACME Lithium Inc. ("ACME"), pursuant to which ACME has granted Snow Lake the option to earn up to a 90% undivided interest in the Project. Tanco Mine: The Tanco Mine is located on the northwest shore of Bernic Lake, Lac du Bonnet, Manitoba, and is 100% owned and operated by Tantalum Mining Corporation of Canada Ltd. ("Tanco"), a subsidiary of Sinomine (Hong Kong) Rare Metals Resource Co. The Tanco Mine pegmatite orebody was discovered in the late 1920's and the Tanco Mine has been in commercial operation producing tantalum, cesium and lithium in Manitoba for more than 50 years. Cesium is mined in the form of the mineral pollucite at the Tanco Mine, which currently holds 82% of the world's known reserves of pollucite. Clean Energy Opportunities: As a clean energy company, Snow Lake continues to review North American net-zero resource opportunities in the clean energy space that have the potential to be commercialized, create shareholder value, and complement its current portfolio of uranium and lithium projects. New Risk • Oct 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 65% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (US$6.34m market cap). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (9.6% increase in shares outstanding). Announcement • Aug 23
Snow Lake Resources Ltd. has filed a Follow-on Equity Offering in the amount of $1 million. Snow Lake Resources Ltd. has filed a Follow-on Equity Offering in the amount of $1 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering New Risk • Jul 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$14m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 65% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (US$20.6m market cap). Announcement • Jun 06
Snow Lake Exploration Program Underway At Engo Valley Uranium Project Snow Lake Resources Ltd. announced that field crews have established their exploration camp and have initiated the 2024 exploration program on the Engo Valley Uranium Project. Snow Lake has designed a multi-phase exploration program for 2024 for the Project, which includes: analysis of all airborne survey data flown by the Namibian Government over the project area, together with all other historical exploration reports and data on the project area on file with the Namibian Ministry of Mines and Energy (now complete); topographical survey of the project site (now complete); locating all historic drill collars from Gencor's 1970 drilling campaign (in progress); radon cup survey of all historical targets, as well as a number of new targets, in order to verify the historical airborne survey data and to confirm new drill targets (in progress); an initial 1,000 - meter reverse circulation drill program to twin the historical drill holes, and to begin an in-fill grid pattern between the historical drill holes (mobilization); downhole radiometrics on each of the new drill holes (pending). Exploration field crews began mobilizing to site in May in order to undertake the field portion of Phase 1 of the program. Results from the radon cup survey, the initial phase of drilling, and the downhole gamma logging, will inform the second round of drilling. The Project is located in the Skeleton Coast, in the Opuwo District of the Kunene Region, along the coast of northwest Namibia, approximately 600 kilometers north of Swakopmund, Namibia. It is accessible from the south via 190 km of desert track roads from Mowe Bay, via the Sarusas mine. To the east, there are unconfirmed track roads that connect the project area to the settlement of Orupembe. Uranium mineralization was discovered on the Project in 1973, exploration was conducted intermittently by Gencor between 1974 and 1980, and based on that work, Gencor calculated a historical, non-current mining code compliant, resource estimate for the Project. The Project is considered to be a top tier exploration project. Exclusive Prospecting License 5887 ("EPL-5887") is held by Namibia Minerals and Investment Holding (Pty) Ltd. ("NMIH"). It covers an area of 69,530 hectares, is valid until February 12, 2026, and covers base and rare metals, industrial minerals, non-nuclear fuel mineral, nuclear fuel minerals, precious metals and precious stones. EPL-5887 covers the areas of historic exploration work conducted by Gencor. Announcement • May 26
ACME Lithium Inc. and Snow Lake Resources Ltd. Initiates Exploration Program At Shatford Lake Manitoba Lithium Project ACME Lithium Inc. announced that Snow Lake Energy (Snow Lake) has initiated the 2024 exploration program at ACME's Shatford Lake Project. 2024 Exploration Program: Snow Lake, together with Critical Discoveries, has designed a four-phase exploration program for 2024. Phase 1 consists of compiling and analyzing all past exploration data generated by ACME Lithium Inc., including all geophysical and geochemical data, as well as past drilling results, to identify targets for field work in Phase 2. Phase 1 is complete, and Phase 2 has been initiated with the Critical Discoveries field team of 4, consisting of 2 geologists and 2 field technicians. Initial prospecting and mapping will focus on the northwest corner of the Shatford Lake Lithium Project and will then expand to cover the balance of the project. Initial prospecting activities to date have included the discovery of two pegmatites under heavy overburden. Samples have been taken and submitted to the assay lab for analysis. Phase 3 is intended to be a program of up to 2,000 meters of diamond drilling, spread over approximately 10 holes of approximately 200 meters each, dependent upon appropriate drill target identification from Phase 2 of the program. Phase 4 will be compilation and evaluation of all field data, assay results, and drill results from the 2024 exploration program. Geological Setting of Shatford Lithium Project: The Shatford Lithium Project straddles a 15 kilometers long structural trend of the Greer-Shatford Shear Zone with numerous pegmatite dykes and favorable host rocks. It is situated in the southern limb of the Bird River greenstone belt in southeastern Manitoba. The region hosts hundreds of individual pegmatite bodies, many of which are classified as complex rare-element Lithium-Cesium-Tantalum (LCT) pegmatites - known to account for a quarter of the world's lithium production. The northeast corner of the Shatford Lithium Project borders the mineral lease of the Tanco mine, with the Buck, Pelgi, and Dibs pegmatites nearby. Announcement • Apr 12
Snow Lake Resources Ltd., Annual General Meeting, May 02, 2024 Snow Lake Resources Ltd., Annual General Meeting, May 02, 2024, at 13:00 Central Standard Time. Agenda: To consider to receive the amended and restated audited consolidated financial statements of the Company for the financial year ended June 30, 2023, together with the reports of the auditor thereon;to consider to to fix the number of directors of the Company at five; to consider to elect directors to the board of directors of the Company (the "Board") for the ensuing year;to consider to re-appoint the Company's auditor, De Visser Gray LLP, for the fiscal years ending June 2024 and to authorize the directors to fix their remuneration; and to consider. New Risk • Mar 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$14m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$14m free cash flow). Earnings have declined by 65% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (US$17.2m market cap). New Risk • Dec 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.75m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 81% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (US$9.75m market cap). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (13% increase in shares outstanding). New Risk • Dec 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 81% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (US$12.4m market cap). New Risk • Oct 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 94% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (US$23.0m market cap). Announcement • Oct 11
Snow Lake Resources Ltd., Announces Final Set of Results from the 2022/2023 Winter-Spring Drill Program At Its 100% Owned Grass River Lithium Project Snow Lake Resources Ltd. announced the final set of results from the 2022/2023 winter-spring drill program at its 100% owned Grass River lithium project. These results reflect the final 6,712 meters of drilling completed during the 2022/2023 winter-spring drill campaign at the Grass River lithium project. These results were not received in time to be incorporated in the mineral resource estimate included in the S-K 1300 Technical Report Summary of Initial Assessment for the Snow Lake Lithium Project released in August 2023. These results, together with the results of the upcoming 2023/2024 winter drill program, will be incorporated into an updated mineral resource estimate to be included in the pre-feasibility study planned to be conducted on the Snow Lake Lithium Project during Fourth Quarter of 2023 and the first half of 2024. Snow Lake is currently in the process of preparing for its upcoming 2024 winter-spring drill campaign, which is designed to increase confidence in the existing mineral resources, as well as to test the extensions of the Thompson Brothers and Grass River lithium projects, both along strike and at depth. New Risk • Sep 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 14% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 94% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (US$27.8m market cap). Announcement • Sep 19
Snow Lake Resources Ltd. announced that it expects to receive CAD 7.707292 million in funding Snow Lake Resources Ltd announced private placement of 2,133,979 common shares at an issue price of CAD 3.6117 for gross proceeds of CAD 7,707,291.95.The Company anticipates that the closing of the sale of the Shares will occur on or about September 21, 2023, and remains subject to the receipt of all necessary approvals. Announcement • Jul 18
Snow Lake Resources Ltd. Appoints Frank Wheatley as Chief Executive Officer Snow Lake Resources Ltd. announced the appointment of Mr. Frank Wheatley as chief executive officer (CEO) of the company with immediate effect. Mr. Wheatley brings more than 30 years of mining and resource industry experience, as a senior executive and independent director, including Executive Director of Talison Lithium Limited (prior to its acquisition by Tianqi Lithium), and as CEO of TSX listed Yellowhead Mining Inc. and Karnalyte Resources Ltd. Mr. Wheatley has extensive domestic and international experience with development and operating gold, copper and lithium companies, including project development, project financing, environmental permitting in accordance with all international best practice and ESG standards, as well as mergers and acquisitions. Board Change • Feb 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Independent Chairman Nachum Labkowski is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jan 12
Snow Lake Lithium Provides Final Update Following Successful Completion of the 2022 Grass River Drilling Campaign Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. announced the final drill results and an update and analysis following the recently completed 2022 Grass River drilling campaign. All geochemical analyses from SGS Laboratories Canada Inc. of Lakefield, Ontario (SGS Lakefield) have been received and significant intersections with the new drill results highlighted in black bold text for reference. The pegmatite geology in the Grass River area (GRP) is significantly more complex than the Thompson Brothers Lithium dyke, which was recognized early in the drill campaign. As noted by several geologists at the core house, several intersections of coarse-grained spodumene pegmatites were logged in multiple holes within the Grass River area. Due to this level of complexity, Snow Lake engaged SGS Lakefield to assist with modeling the GRP dyke to better understand the three-dimensional (3D) composition of the subsurface area. Based on the final wireframe modeling of the pegmatite dykes at Grass River, SGS Lakefield was able to identify a minimum of three distinctive spodumene bearing pegmatite dykes. Snow Lake's technical personnel in the field hypothesized that there could be as many as five distinctive dykes based on core and field observations. Due to this higher density of dykes within the Grass River area, Snow Lake will refer to this area as the "GRP Dykes Swarm" as the Company's drilling campaign progresses. Significant high grade Li2O intercepts continue to be produced by the GRP Dykes Swarm and to infer a compelling lithium presence beyond the resource identified from the initial scoping study. Drill holes GRP-013 and GRP-021 both returned a 1.5-meter intercept of 3.2% Li2O while the highest recorded intercept of 3.6% Li2O was retrieved from hole GRP-018. These intercepts have been recovered from between 80 and 200 meters down hole, which suggests that Li2O levels may be rising at greater depths. A stunning interval of 16.0 meters of 2.0% Li2O, including a 1.5-meter intercept of 3.1% Li2O, was obtained by drill hole CBP-007. This hole, which was collared on the main deposit's North-West strike extension, shows that the dyke has remarkable continuity. As the Company focuses on expanding its identified resource base within the GRP Dykes Swarm, the North-West extension will be the focus of the winter drilling program in 2023. GRP Dykes Swarm: Geology of the GRP Dykes Swarm and host rocks - The GRP dykes crosscut plutonic intrusive rocks of Monzonite composition, exhibiting medium to coarse grained Plagioclase crystals within a fine to medium grained mafic groundmass. Albitic to potassic feldspars occur frequently within the rock. The groundmass consists of amphiboles and occasional biotite. Garnet has been observed in small clusters within rare melanocratic groundmass. The Monzite has been subject to considerable seracitic and hematitic alteration, often resulting in destruction of the original plutonic minerals and giving the rock a "bleached" appearance. Small quartz and granitic Aplite dykes are common. The GRP Dykes Swarm appear to strike 110° and dip about 60-65o SSW. The mineralogy of the dykes is typical for lithium bearing pegmatite dykes, and consists of potassic feldspars, quartz, muscovite and to a lesser extent biotite, tourmaline and rare garnets and very rare beryl. The lithium bearing mineral is spodumene, which varies considerably in both grain size and distribution within the dykes. Spodumene crystals can vary in size from 1 cm to more than10+ cm in size. The GRP dykes often exhibit very large spodumene crystals, often ranging in size from 10-15 cm long. The distribution of the crystals within the dyke intersections is sporadic, with some sections containing up to 25 to 30% spodumene, and other sections that are spodumene poor to barren, suggesting multiple pulses of fluids and crystal mush from the parent granitic magma. The mineralogy and mineral zonation of the dyke(s) will be the subject of further study in the coming months. Analytical - Half core samples are sent to SGS Lakefield for analysis. Core samples are initially crushed to a size of -12.7 mm, then fragmented to 75% passing 2mm and eventually extruded into a 250 g pulp that is pulverized to 85% passing 75 microns. Samples are sodium peroxide fused and run on ICP-AES and/or ICP- MS generating 56 element suit. Announcement • Nov 04
Snow Lake Lithium Provides Update Following Successful Completion of the Grass River Drilling Campaign Snow Lake Resources Ltd. provided results, an update, and analysis on the recently completed Grass River drilling campaign. The pegmatite geology in the Grass River area is significantly more complex than the Thompson Brothers Lithium dyke, which was recognized early in the drill campaign. As noted by several geologists at the core house, several intersections of coarse-grained spodumene pegmatites were logged in multiple holes within the Grass River area. Due to this level of complexity, Snow Lake Lithium engaged SGS Geological Services to assist with modeling the GRP dyke to better understand the three-dimensional (3D) composition of the subsurface area. Based on the initial wireframe modeling of the pegmatite dykes at Grass River, SGS was able to identify a minimum of three distinctive spodumene bearing pegmatite dykes Snow Lake Lithium's technical personnel in the field hypothesized that there could be as many as five distinctive dykes based on core and field observations. Due to this higher density of dykes within the Grass River area, Snow Lake Lithium will refer to this area as the Grass River Pegmatite Swarm as the drilling campaign progresses. Of the high-grade intercepts received from the Grass River Pegmatite Swarm, there was one selected sample from GRP-014 that returned a value of 5.9% Li2O over 0.7 meters In addition, several of these intercepts are found almost 200 meters down the well, implying that a vast unrealized underground mining potential exists beneath the envisioned starter pit. Future exploration and drilling programs will focus on identifying additional dykes, trace the existing dykes along strike, and drill to depth to help define more underground resources. Currently, there are another twenty-one drill holes in progress with SGS Lakefield. Once all analytical results have been returned to Snow Lake Lithium, SGS Geological Services will commence the maiden resources study on the Grass River Pegmatite Swarm. Geology of the GRP dyke Swarm and host rocks - The GRP dykes crosscut plutonic intrusive rocks of Monzonite composition, exhibiting medium to coarse grained Plagioclase crystals within a fine to medium grained mafic groundmass. Albitic to potassic feldspars occur frequently within the rock. The groundmass consists of amphiboles and occasional biotite. Garnet has been observed in small clusters within rare melanocratic groundmass. The Monzite has been subject to considerable seracitic and hematitic alteration, often resulting in destruction of the original plutonic minerals and giving the rock a "bleached" appearance. Small quartz and granitic Aplite dykes are common. The GRP pegmatite dykes swarm appear to strike 110° and dip about 60-65o SSW. The mineralogy of the dykes is typical for Lithium bearing pegmatite dykes, and consists of potassic feldspars, quartz, muscovite and to a lesser extent biotite, tourmaline and rare garnets and very rare beryl. The lithium bearing mineral is spodumene, which varies considerably in both grain size and distribution within the dykes. Spodumene crystals can vary in size from 1 cm to over 10+ cm in size. The GRP dykes often exhibit very large spodumene crystals, often ranging in size from 10-15 cm long. The distribution of the crystals within the dyke intersections is sporadic, with some sections containing up to 25 to 30% Spodumene, and other sections that are Spodumene poor to barren, suggesting multiple pulses of fluids and crystal mush from the parent granitic magma. The mineralogy and mineral zonation of the dyke(s) will be the subject of further study in the coming months. Analytical - Half core samples are sent to the SGS Lakefield laboratory in Ontario for analysis. Core samples are initially crushed to a size of -12.7 mm, then fragmented to 75% passing 2mm and eventually extruded into a 250 g pulp that is pulverized to 85% passing 75 microns. Samples are sodium peroxide fused and ran on ICP-AES and/or ICP- MS generating 56 element suit. Announcement • Nov 02
Snow Lake Resources Ltd. announced delayed 20-F filing On 11/01/2022, Snow Lake Resources Ltd. announced that they will be unable to file their next 20-F by the deadline required by the SEC. Announcement • Sep 24
Snow Lake Lithium Receives Nasdaq Notification of Noncompliance with Audit Committee Requirements Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. announced that on September 19, 2022, it received a letter (the "Notification Letter") from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating the Company is no longer in compliance with Nasdaq's audit committee requirement as set forth in Listing Rule 5605 due to the removal of Mr. Nachum Labkowski from the Company's audit committee on September 7, 2022. Mr. Labkowski, was also removed as member of the nominating and corporate governance committee. He remains as an independent director of our board of directors (the "Board"). The letter also states that Nasdaq will provide the Company a cure period in accordance with Listing Rule 5605(c)(4). Pursuant to Nasdaq Listing Rule 5605(c)(4), the Company is entitled to a cure period to regain compliance, such cure period to expire on the earlier of the Company's next annual shareholders' meeting or September 7, 2023; provided, however, that if the Company's next annual shareholders' meeting is held before March 6, 2023, then the Company must evidence compliance no later than March 6, 2023. In the event the Company does not regain compliance by the end of cure period, Nasdaq rules require staff to provide written notification to the Company that its securities will be delisted. At that time, the Company may appeal the delisting determination to a Hearings Panel. The receipt of the Notification Letter has no immediate effect on the listing of the Company's common shares, which will continue to trade uninterrupted on Nasdaq under the ticker "LITM". The Company is working with the relevant authorities to remedy this issue and is conducting a search for a new director who meets the requirements of Nasdaq and is available for appointment to the Company's board of directors and audit committee within the cure period. The Company must also submit to Nasdaq documentation, including biographies of any new directors, evidencing compliance with the listing rule within the cure period. Announcement • Sep 16
Snow Lake Lithium Announces Completion of over 20,000 Meters of Drilling Year to Date Snow Lake Resources Ltd., updated its shareholders on several positive developments associated with its 2022 drilling campaign. Since the 2022 drilling campaign kicked off in January of this year, Snow Lake has successfully completed over 20,000 meters of additional drilling on the Snow Lake Lithium project, tripling the amount of drilling that can be used towards the Company's resource expansion plans scheduled to be completed this fall. The incremental drilling marks significant advancement of the Company's ongoing drilling campaign and accelerates Snow Lake's path towards commercial production. Snow Lake is progressing on both its environmental and feasibility studies in parallel with the requisite metallurgical testing that is required to deliver resource validation. Snow Lake remains positioned to begin initial site development in 2024 with construction and commissioning of the commercial mine to follow. As of 2021, the total exploration drill holes completed on the property since 1942 was 75 drill holes (8,842.6 meters). However, drill holes prior to 2017 could not be used for the existing resource because they were not located. Instead, of the 24 drill holes in 2017 and 2018, 4,804.92 meters were used to create the existing SK-1300 compliant resource of 9.1mt @ 1% Li2O indicated and 2Mt @ 0.98% Li2O inferred. Drilling has been focused on the Thompson Brothers Lithium ("TBL") and Grass River Pegmatite ("GRP") areas which comprise 56 of the 78 holes drilled so far. Notably, there were a number of drill holes which had several spodumene intersections. More specifically, there were 2 holes which had 4 intersections and an additional 2 holes which had 5 intersections. These results may prove-up to be 4 to 5 separate dykes of spodumene on the west side of the Grass River. Additionally, within the Grass River Pegmatite ("GRP"), encouraging results related to drill hole GRP-027 were intercepted with Spodumene-bearing pegmatite from 39.36 to 69.02 meters. Spodumene content of the pegmatite dyke is estimated at 20%.Additional lab assay results are currently in backlog given delays; results from drill intercepts received and reported in news releases to date are expected in the coming weeks. Geology of DDH GRP-027 Drill hole GRP-027 intersected Spodumene-bearing pegmatite from 39.36 to 69.02 meters. The Pegmatite dyke is composed of coarse grained potassic Feldspar, Quartz, Muscovite and fine to coarse grained Tourmaline (Schorl). The Spodumene within the Pegmatite dyke was variably distributed with no preferred orientation, and had an average grain size of 2-4 cm. The Spodumene content of the dyke is estimated at 20%. The Pegmatite dyke cross cuts dominantly intrusive rocks of diorite to monzonite composition, exhibiting a gabbroic texture with variable amounts of mafic (Fe-Mg) minerals. Contacts with the Pegmatite are abrupt and sharp. Announcement • Jul 22
Snow Lake Resources Ltd., Annual General Meeting, Dec 15, 2022 Snow Lake Resources Ltd., Annual General Meeting, Dec 15, 2022. Announcement • Jul 13
Snow Lake Resources Ltd. Announces CFO Changes Snow Lake Resources Ltd. announced the resignation of Chief Financial Officer, Mario Miranda, and the concurrent appointment of Keith Li as successor, effective June 30th, 2022. Mr. Miranda provided his notice of resignation in April 2022 and agreed to remain at the Company in order to facilitate the transition plan. The Board of Directors conducted an extensive search process and approved the appointment of Mr. Li on June 3rd, 2022. Mr. Miranda has served as Snow Lake’s Chief Financial Officer since February 2021 and provided integral financial leadership to the Company through its initial public offering in November 2021. Mr. Miranda is departing the Company to pursue other opportunities. Mr. Li joins Snow Lake Lithium with over 15 years of experience in accounting, audit and executive level financial management. Prior to joining Snow Lake, Mr. Li held the role of Chief Financial Officer with Branson Corporate Services Ltd., providing outsourced fractional CFO functions and executive level financial services to public companies, including preparation of IFRS-compliant financial statements and MD&A. Mr. Li’s relevant public company engagements included Jubilee Gold Exploration and US Critical Metals Corp. Previously, he served roles as Manager, External Reporting at Sears Canada Inc., and Senior Auditor at McGovern, Hurley, LLP. Mr. Li is a Chartered Professional Accountant and holds a Bachelor of Commerce in Finance from McGill University. Board Change • Jun 07
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Director Nachum Labkowski is the most experienced director on the board, commencing their role in 2018. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 04
Snow Lake Resources Ltd. Announces Resignation of Louie Simens as Chairman, Board Appoints CEO Philip Gross as Successor Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. announced the resignation from its Board of Directors of its Chairman, Louie Simens, effective May 29, 2022, and the appointment of Chief Executive Officer, Philip Gross, as successor effective immediately. Mr. Simens served as the Chairman of Snow Lake's Board of Directors from December 2020 and as a Director from November 2018. Currently, Mr. Simens serves as the Executive Director of Nova Minerals, a company focused on exploration in Alaska's prolific Tintina Gold Belt for high grade gold deposits. Announcement • Jun 02
Snow Lake Resources Ltd. Provides an Update on the Current Drilling Campaign At the Snow Lake Lithium Project in Northern Manitoba Snow Lake Resources Ltd. provided an update on the current drilling campaign at the Snow Lake Lithium project in Northern Manitoba. Snow Lake’s project now contains four identified dykes with high grade lithium intercepts above 1% Li2O with the TBL and GRP continuing to return positive results. In addition, the Company is happy to report intercepts on the SGP and BYP dykes. Both the SGP and BYP dykes were located and sampled during last fall’s prospecting campaign (Dec 06, 2021- Snow Lake Resources Ltd. Samples Up To 6.97 WT% Li2O from its Manitoba Project). Of note are the deep and wide intersections of TBL-035 seen at 429.50 m at depth. This could indicate that this pegmatite system may continue much deeper on the project than initially anticipated. Future drilling will test the possible depth extensions of the TBL dyke. Geology of the GRP and SGP dyke and host rocks - The GRP dykes crosscut plutonic intrusive rocks of Monzonite composition, exhibiting medium to coarse grained Plagioclase crystals within a fine to medium grained mafic groundmass. Albitic to potassic feldspars occur frequently within the rock. The groundmass consists of amphiboles and occasional biotite. Garnet has been observed in small clusters within rare melanocratic groundmass. The Monzite has been subject to considerable seracitic and hematitic alteration, often resulting in destruction of the original plutonic minerals and gives the rock a “bleached” appearance. Small quartz and granitic Aplite dykes are common. The GRP pegmatite dykes appear to strike 110° and dip about 60-65o SSW. The mineralogy of the dykes is typical for lithium bearing pegmatite dykes, and consists of potassic feldspars, quartz, muscovite and to a lesser extent biotite, tourmaline and rare garnets and very rare beryl. The lithium bearing mineral is spodumene, which varies considerably in both grain size and distribution within the dykes. Spodumene crystals can vary in size from 1 cm to over 10+ cm in size. The GRP dykes often exhibit very large spodumene crystals, often ranging in size from 10-15 cm long, and in the case of GRP-003, larger than the NQ core dimensions. The distribution of the crystals within the dyke intersections is sporadic, with some sections containing up to 25% to 30% Spodumene, and other sections that are Spodumene poor to barren, suggesting multiple pulses of fluids and crystal mush from the parent granitic magma. The mineralogy and mineral zonation of the dyke(s) will be the subject of further study in the coming months. Host Rock - The TBL dyke cross cuts rocks of the Missi Group (1.85-1.83 Ga), which are dominantly sedimentary rocks consisting of heterolithic conglomerates, greywackes and sandstones. There are occasional basaltic to andesitic dykes and sills within the assemblage seen in the drill core. The greywackes are typically composed of fine-grained quartz and biotite, while the conglomerate matrix is composed of biotite, actinolite, chlorite and small (2-3 mm) garnets. The mineral assemblage is typical for upper greenschist to lower amphibolite metamorphic facies rocks. The TBL pegmatite dyke TB-1 strikes 040° and dips about 85° SE, cross cutting the rocks of the Missi Group. The mineralogy of the dyke is typical for Lithium bearing pegmatite dykes, and consists of potassic or albitic feldspars, quartz, muscovite and to a lesser extent biotite, tourmaline and rare garnets and very rare beryl. The lithium bearing mineral is Spodumene, which varies considerably in both grain size and distribution within the dyke. Spodumene crystals can vary in size from 1 cm to over 10+ cm in size. The distribution of the crystals within the dyke intersections is sporadic, with some sections containing up to 25% to 30% Spodumene, and other sections that are Spodumene poor to barren, suggesting multiple pulses of fluids and crystal mush from the parent granitic magma. The mineralogy and mineral zonation of the dyke(s) will be the subject of further study in the coming months. Analytical - Half core samples are sent to the SGS Lakefield laboratory in Ontario for analysis. Core samples are initially crushed to a size of -12.7 mm, then fragmented to 75% passing 2mm and eventually extruded into a 250 g pulp that is pulverized to 85% passing 75 microns. Samples are sodium peroxide fused and run on ICP-AES and/or ICP- MS generating 56 element analyses. Announcement • May 24
Snow Lake Resources Ltd. Announces Significant Findings from First Drilling Tests Snow Lake Resources Ltd. announced that it has received significant results from its first drill tests from the Grass River Pegmatite (GRP) dyke at the Snow Lake Lithium project, in Northern Manitoba. The GRP dyke has defined widths of five to six meters and results were obtained with high-grade spodumene material from the third GRP hole, GPR-003, returning an intercept of 3.35% Li O over three meters. These are the first results for the GRP Dyke and additional analysis will need to be reviewed in the future in order to put an orientation and clear dip on this dyke swarm. It should be noted that the GRP dyke outcrops on the surface and would be amenable for developing a high-grade open cut for the exploitation of its spodumene deposit. Current drilling will continue to focus on delineating the geometry of the GRP dyke and data collected as part of this drill campaign will be included in Snow Lake Lithium’s next resource update. In addition, Snow Lake Lithium’s exploration permits have been extended by the Province of Manitoba for another three years. Announcement • May 20
Snow Lake Resources Ltd Announces Further Significant Drill Results from Snow Lake Lithium Nova Minerals Limited announced that 37% owned Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd., confirmed that it has received significant results from its first drill tests from the Grass River Pegmatite (GRP) dyke at the Snow Lake Lithium project, in Northern Manitoba. The GRP dyke has defined widths of five to six meters and results were obtained with high-grade spodumene material from the third GRP hole, GPR-003, returning an intercept of 3.35% Li2O over three meters. These are the first results for the GRP Dyke and additional analysis will need to be reviewed in the future in order to put an orientation and clear dip on this dyke swarm. It should be noted that the GRP dyke outcrops on the surface. Current drilling will continue to focus on delineating the geometry of the GRP dyke and data collected as part of this drill campaign will be included in Snow Lake Lithium's next resource update. In addition, Snow Lake Lithium's exploration permits have been extended by the Province of Manitoba for another three years. The GRP dykes crosscut plutonic intrusive rocks of Monzonite composition, exhibiting medium to coarse grained Plagioclase crystals within a fine to medium grained mafic groundmass. Albitic to potassic feldspars occur frequently within the rock. The groundmass consists of amphiboles and occasional biotite. Garnet has been observed in small clusters within rare melanocratic groundmass. The Monzite has been subject to considerable seracitic and hematitic alteration, often resulting in destruction of the original plutonic minerals and giving the rock a "bleached" appearance. Small quartz and granitic Aplite dykes are common. The GRP pegmatite dykes appear to strike 110° and dip about 60-65o SSW. The mineralogy of the dykes is typical for Lithium bearing pegmatite dykes, and consists of potassic feldspars, quartz, muscovite and to a lesser extent biotite, tourmaline and rare garnets and very rare beryl. The lithium bearing mineral is spodumene, which varies considerably in both grain size and distribution within the GRP dykes. Spodumene crystals can vary in size from 1 cm to over 10+ cm in size. The GRP dykes often exhibit very large spodumene crystals, often ranging in size from 10-15 cm long, and in the case of drill hole GRP-003, larger than the NQ core dimensions. The distribution of the crystals within the dyke intersections is sporadic, with some sections containing up to 25 to 30% Spodumene, and other sections that are Spodumene poor to barren, suggesting multiple pulses of fluids and crystal mush from the parent granitic magma. The mineralogy and mineral zonation of the dyke(s) will be the subject of further study in the coming months. Half core samples are sent to the SGS Lakefield in Ontario for analysis. Core samples are initially crushed to a size of -12.7 mm, then fragmented to 75% passing 2mm and eventually extruded into a 250 g pulp that is pulverized to 85% passing 75 microns. Samples are sodium peroxide fused and run on ICP-AES and/or ICP- MS generating 56 element analyses. Announcement • Apr 14
Snow Lake Resources Ltd. Commissions Scoping Study to Assess the Proposed Creation of Lithium Hydroxide Plant in South Manitoba Snow Lake Resources Ltd. (Snow Lake), has commissioned a scoping study to assess the proposed creation of a Lithium Hydroxide Plant in South Manitoba. The study is a strategically important step towards creating North America's first fully renewable and fully electric, integrated lithium processing operation which is crucial for the future of the electric vehicle industry. Starting in April 2022, the scoping study will accelerate the company towards commercialized lithium production from both Snow Lake Lithium's mine and the proposed lithium hydroxide plant in CentrePort Canada in Southern Manitoba. The study will identify the technologies, innovations, skills and potential partners required to deliver a world-class lithium hydroxide plant within the Manitoba province. With demand for electric vehicles growing rapidly, the global automotive and energy storage industries will be competing to access raw materials, especially lithium, that is a crucial component of batteries. Just 700km from CentrePort Canada, Snow Lake Lithium is creating the world's first all-electric, fully renewable lithium mine. The addition of a lithium hydroxide plant will enable the seamless integration of the domestic supply of this critical resource to the North America electric vehicle industry. The plant's proposed location is CentrePort Canada, North America's large trimodal inland port and Foreign Trade Zone. CentrePort Canada connects to major national and international trade gateways as well as being the only inland port in Canada with direct access to trimodal transportation - truck, rail and air cargo. This unique location means that Snow Lake Lithium is connected to all the major auto manufacturers across North America, reducing supply chain costs and emissions as well as delivering a secure and seamless lithium supply chain from rock to road. CentrePort Canada offers 20,000 acres of high-quality, affordable industrial land and benefits from its strategic geographic location in Winnipeg, Manitoba and the Rural Municipality of Rosser, within the capital region of Winnipeg. Snow Lake Lithium has contracted Primero to deliver the Scoping Study of the Lithium Hydroxide Plant in Southern Manitoba. Primero brings world-class, hands-on lithium experience through its vertically integrated project management across the global resources industry. Announcement • Apr 09
Snow Lake Resources Ltd. has completed a Follow-on Equity Offering in the amount of $18 million. Snow Lake Resources Ltd. has completed a Follow-on Equity Offering in the amount of $18 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 3,000,000
Price\Range: $6 Announcement • Feb 09
Snow Lake Resources Ltd. (NasdaqCM:LITM) acquired Additional 33,614 acres of Crown land in Manitoba, Canada Snow Lake Resources Ltd. (NasdaqCM:LITM) acquired Additional 33,614 acres of Crown land in Manitoba, Canada recently. Announcement • Feb 01
Snow Lake Resources Ltd. Update the Market on the Winter 2022 Drilling Campaign Snow Lake Resources Ltd. to update the market on the winter 2022 drilling campaign. With the snow roads completed, the drill company (QB Drilling) was able to mobilize the first drill into position on the 28th of January 2022. Initial drilling is focused on the maiden resource at Thompson Brothers Lithium (TBL) project to extend the strike and depth. On the first hole (TBL-025), Snow Lake Lithium intersected 19.8 meters core length of lithium bearing pegmatite that contains between 20 to 25% spodumene from 21.0 to 40.8 meters. This is 76.6 meters North-East step out from the last known intersection captured by hole TBL-024 during the 2018 resource drilling campaign. This would indicate that the crystallization continues along strike and represents a 10% increase in the strike from results produced under the previous drill program. Additionally of note, the spodumene occurs close to surface (~30 meters) which would suggest that the spodumene would be amenable to open pit mining in the future. Board Change • Dec 31
High number of new directors Independent Director Allan Engel was the last director to join the board, commencing their role in 2021. Board Change • Nov 19
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 
