Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) a uranium exploration and development company, announces excellent initial drill results on its Pine Ridge Uranium Project, located in the prolific Powder River Basin in Wyoming, a 50/50 joint venture with Global Uranium and Enrichment Limited.

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 U₃O₈ within a broader interval of 3.5m at 540 ppm U₃O_8, and including 1.2m at 1,320 ppm U₃O₈ within a broader interval of 2.0m at 920 ppm U₃O_8.

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) U₃O₈ from 314.8m in PR25-017, including
    • 1.2m at 0.132% (1,320 ppm) U₃O₈ from 315.0m
  • 2.3m at 0.071% (710 ppm) U₃O₈ from 411.6m in PR25-008 including
    • 1.7m at 0.085% (850 ppm) U₃O₈ from 411.9m
  • 1.4m at 0.035% (350 ppm) U₃O₈ from 237.3m in PR25-004
  • 1.1m at 0.031% (310 ppm) U₃O₈ from 334.0m in PR25-005
  • 2.1m at 0.034% (340 ppm) U₃O₈ from 348.1m in PR25-007
  • 1.8m at 0.042% (420 ppm) U₃O₈ from 388.0 in PR25-009
  • 3.5m at 0.054% (540 ppm) U₃O₈ from 321.3m in PR25-031, including
    • 1.1m at 0.078% (780 ppm) U₃O₈ from 321.4m
  • 1.8m at 0.060% (600 ppm) U₃O₈ from 350.4m in PR25-023 including
    • 1.2m at 0.073% (730 ppm) U₃O₈ from 350.5m
  • 4.0m at 0.035% (350 ppm) U₃O₈ from 315.3m in PR25-027
  • 2.1m at 0.048% (480 ppm) U₃O₈ from 276.1m in PR25-033
  • 1.4m at 0.046% (460 ppm) U₃O₈ from 378.6m in PR25-020
• Drilling is ongoing and is expected to continue through to the end of November 2025

CEO Remarks

“We are very pleased and encouraged with the initial drill results from our Pine Ridge uranium project in the Powder River Basin, Wyoming. The wide spaced drilling, designed to target roll-front uranium deposits, has confirmed the presence of redox boundaries and uranium mineralization, and continues to demonstrate the strong development potential of Pine Ridge. Our drill program will continue through the second half of 2025 as we target a maiden mineral resource estimate by year end,” said Frank Wheatley, CEO of Snow Lake.

 Figure 1
Drilling at the Pine Ridge Uranium Project in the Powder River Basin of Wyoming, USA.

Drill Program

Ongoing results are very encouraging as they have confirmed and further defined the original concept of multiple redox boundaries that are hosted by numerous sand horizons. The drill program was designed to test high-priority areas that were outlined by historical drilling with drill centers of approximately 150m (500 ft.). Drill results will continue to be evaluated, and infill drilling will take place to further outline roll front deposits and develop an inferred mineral resource estimate.

Details of drill results and drill collars are set out in Schedule A.

Figure 2
Detailed map showing the locations and results of the first and second series of holes drilled at the Pine Ridge Project. Intervals reported at a cutoff of 200 ppm and a thickness of >0.3m.

Pine Ridge Uranium Project – Overview

Pine Ridge is an In-Situ Recovery (ISR) uranium exploration project located in the southwestern Powder River Basin of Wyoming, the premier U.S. uranium basin. Pine Ridge is surrounded by existing uranium projects held by UEC and Cameco and is also located only ~15km from Cameco’s Smith Ranch Mill, which has a licensed capacity of 5.5Mlbs U₃O₈ p.a. The Smith Ranch mill is one of the largest uranium production facilities in the U.S.

Figure 3
Pine Ridge Uranium Project and Adjacent Properties

Qualified Person

Technical information in this news release has been reviewed and approved by Ron Scott PhD, PGeo, who is a Qualified Person as defined by the Securities and Exchange Commission’s Regulation S-K 1300.

About Snow Lake Resources Ltd.

Snow Lake Resources Ltd. is a Canadian nuclear fuel cycle and critical minerals company, with a portfolio of American focused uranium projects, together with interests in next-generation uranium enrichment and advanced reactor technology. The Pine Ridge Uranium project is an exploration stage project located in Wyoming, United States. Snow Lake also holds a portfolio of additional exploration stage critical minerals projects located in Manitoba and Namibia, as well as investments in a number of public companies with critical minerals assets, including antimony, rare earths, and lithium in North America.