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Snow Lake Resources Ltd. (NASDAQ: LITM), doing business as Snow Lake Energy, is a Canadian clean energy development company primarily focused on the exploration and development of lithium and uranium projects. Based in Winnipeg, Manitoba, Snow Lake's core operations involve the exploration of lithium in Manitoba, Canada, and uranium on a global scale.
The company's flagship projects include the Thompson Brothers Lithium Project, located in the Snow Lake region of Northern Manitoba, and the Shatford Lake Lithium Project adjacent to the Tanco lithium mine in Southern Manitoba. Snow Lake Lithium™ Project is an advanced-stage exploration project aimed at supplying high-demand minerals for the clean energy transition and electric vehicle (EV) markets.
Recently, Snow Lake has expanded its portfolio through the acquisition of significant uranium projects. The Engo Valley Uranium Project, situated in the Skeleton Coast of Namibia, and the Black Lake Uranium Project in the Athabasca Basin of Saskatchewan, Canada, are at the forefront of the company’s uranium exploration efforts. These projects are structured to benefit from modern exploration techniques and are poised to meet the global demand for nuclear fuel minerals.
Snow Lake has initiated its 2024 exploration programs across its various projects. The Engo Valley Uranium Project's first phase includes ground geophysics and radon cup surveys to confirm historical data and identify new exploration targets. Concurrently, the Shatford Lake Lithium Project has begun its four-phase exploration, which includes diamond drilling and extensive fieldwork to uncover prospective lithium deposits.
Financially, Snow Lake maintains a robust exploration budget, underpinning its strategic initiatives aimed at resource optimization. The company's recent advancements include finalizing partnerships with consultants and service providers to accelerate its exploration and development activities.
Strategically positioned in leading mining jurisdictions, Snow Lake leverages its expertise and modern technologies to advance its projects from exploration to production. The company continues to engage in significant industry partnerships to enhance its operational capabilities and resource estimates, aiming to establish itself as a key supplier of essential minerals for the clean energy industry.
For more detailed information and the latest updates, visit www.snowlakelithium.com.
Snow Lake Energy (NASDAQ: LITM) has announced the pricing of a best-efforts offering of 16,000,000 common shares at US$1.00 per share, expecting to raise gross proceeds of US$16,000,000. The offering is anticipated to close on January 27, 2025, subject to customary closing conditions.
ThinkEquity is serving as the sole placement agent for the offering, which is being conducted under a shelf registration statement on Form F-3. The company plans to utilize the net proceeds primarily for working capital and general corporate purposes. The securities will be offered through a written prospectus, with detailed information available through a prospectus supplement and accompanying prospectus to be filed with the SEC.
Snow Lake Resources (NASDAQ: LITM) has announced the discovery of elevated gallium values from bedrock grab samples at the Mound Lake Property in Ontario. The discovery is particularly significant as gallium is ranked as the #1 critical mineral by supply risk in the United States, with China controlling 98.8% of the world's refined gallium supply.
The exploration program, conducted in partnership with Free Battery Metal , revealed 12 bedrock grab samples with gallium values exceeding 50 ppm, with the highest result measuring 110.5 ppm. Over 70% of the samples returned gallium values above crustal abundance. The discovery strengthens Snow Lake's portfolio, which includes lithium and uranium projects.
Gallium is important for AI technologies, data centers, and clean energy solutions, being essential for high-efficiency semiconductors like gallium arsenide (GaAs) and gallium nitride (GaN). The company plans to accelerate exploration while continuing to develop its existing projects.
Snow Lake Resources (NASDAQ: LITM) has secured over $20M USD in funding to advance its exploration portfolio and pursue strategic acquisitions in clean energy minerals. The company plans aggressive exploration programs across multiple projects in 2025:
- Engo Valley Uranium Project: Additional drilling program of 2,500 meters and preparation of maiden SK-1300 resource estimate
- Black Lake Uranium Project: Ground geophysics and planned 2,000-meter drilling program
- Shatford Lake LCT Project: Additional prospecting and ground geophysics
- Snow Lake Lithium Project: Updated SK-1300 resource estimate including 2023-2024 drill results
The company also announced that Nova Minerals has sold its shareholding in Snow Lake to fund its own Estelle gold project.
Snow Lake Resources (NASDAQ: LITM) has successfully closed its previously announced best-efforts public offering, raising US$15 million in gross proceeds. The offering consisted of 18,750,000 common shares priced at US$0.80 per share. ThinkEquity served as the sole placement agent for the transaction. The company plans to utilize the net proceeds for working capital and general corporate purposes. The offering was conducted under an effective shelf registration statement filed with the SEC, with the final prospectus supplement now available on the SEC's website.
Snow Lake Energy (NASDAQ: LITM) has announced the pricing of a best-efforts public offering of 18,750,000 common shares at US$0.80 per share, aiming to raise approximately US$15 million in gross proceeds. The offering is expected to close on December 31, 2024, with ThinkEquity acting as sole placement agent.
The company plans to use the net proceeds for working capital and general corporate purposes. The securities will be offered through a shelf registration statement on Form F-3. Snow Lake Energy is a Canadian clean energy exploration company with a portfolio including two uranium projects (Black Lake and Engo Valley) and two lithium projects (Shatford Lake and Snow Lake), with current focus on advancing uranium exploration while limiting lithium activities due to market conditions.
Snow Lake Resources (NASDAQ: LITM) announces secured funding for its 2025 uranium exploration programs, focusing on two key projects. The company expects initial assay results from the Engo Valley Uranium Project Phase 1 drill program in January 2025, with complete results and downhole radiometrics expected by late January. A Phase 2 drill program is scheduled for early 2025, followed by a maiden SK-1300 mineral resource estimate in H1 2025.
The Phase 1 program completed 20 reverse circulation holes totaling approximately 1,500 meters. The company emphasizes uranium's critical role in powering AI data centers, noting major tech companies' increasing investment in nuclear energy. Snow Lake highlights Namibia's position as the world's third-largest uranium producer, accounting for 11% of global production in 2022.
Snow Lake Resources (NASDAQ: LITM) provided a corporate update highlighting significant developments in its uranium exploration projects. The company successfully completed a US$6.45 million public offering, securing funding for its 2025 exploration programs. The Phase 1 drill program at Engo Valley has been completed with 20 reverse circulation holes totaling 1,500 meters, with assay results pending. Downhole radiometrics confirmed uranium mineralization in several holes. A Phase 2 drill program is planned for early 2025. The company also completed its initial field season at the Black Lake Uranium Project and will finish its current drilling campaign at the Snow Lake Lithium Project by December 2024.
Snow Lake Energy (NASDAQ: LITM) has completed its previously announced public offering, raising US$6.45 million through the sale of 15,750,000 common shares at US$0.41 per share. ThinkEquity served as the sole placement agent for this offering. The company plans to use the net proceeds for working capital and general corporate purposes.
Snow Lake Energy is a Canadian clean energy exploration company with a portfolio including two uranium projects (Black Lake in Saskatchewan and Engo Valley in Namibia) and two lithium projects (Shatford Lake and Snow Lake in Manitoba). The company is currently prioritizing its uranium projects to support the clean energy transition, while limiting exploration activities on lithium projects due to depressed market conditions.
Snow Lake Energy (NASDAQ: LITM) has announced the pricing of a public offering of 15,750,000 common shares at $0.41 per share, aiming to raise gross proceeds of approximately $6.45 million. The offering is expected to close on December 20, 2024, with ThinkEquity serving as the sole placement agent. The company plans to use the net proceeds for working capital and general corporate purposes. The securities will be offered through a shelf registration statement on Form F-3 filed with the SEC.
Snow Lake Energy (NASDAQ: LITM) has announced its intention to conduct a best efforts public offering of common shares and pre-funded warrants. ThinkEquity will serve as the sole placement agent for this offering. The company plans to use the net proceeds primarily for working capital and general corporate purposes.
The securities will be offered through a shelf registration statement on Form F-3 filed with the SEC. The offering's completion, size, and terms are subject to market conditions. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC, detailing the offering terms.
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