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Acquisition of Pine Ridge Uranium Project in Wyoming Supports U.S. National & Energy Security Objectives

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Snow Lake Resources (NASDAQ: LITM) has announced a 50/50 joint venture with Global Uranium and Enrichment (GUE) to acquire the Pine Ridge Uranium Project in Wyoming's Powder River Basin. The acquisition aims to support U.S. national and energy security objectives by developing domestic uranium production.

Key highlights of the Pine Ridge project include:

  • Location in Wyoming, the leading U.S. uranium-producing region
  • Advanced In-Situ Recovery (ISR) uranium project ready for rapid development
  • Proximity to Cameco's Smith Ranch Uranium Mill (15km away) with 5.5M lbs U3O8 licensed capacity

Additionally, Snow Lake will hold a 19.99% interest in GUE, which maintains a cornerstone position in Ubaryon Pty , an Australian company developing innovative uranium enrichment technology. This strategic investment aims to address the U.S.'s uranium enrichment capacity, particularly for next-generation advanced nuclear reactors.

Snow Lake Resources (NASDAQ: LITM) ha annunciato una joint venture 50/50 con Global Uranium and Enrichment (GUE) per acquisire il Pine Ridge Uranium Project nella Powder River Basin del Wyoming. L'acquisizione mira a sostenere gli obiettivi di sicurezza nazionale ed energetica degli Stati Uniti sviluppando la produzione di uranio domestico.

I punti salienti del progetto Pine Ridge includono:

  • Posizione nel Wyoming, la principale regione produttrice di uranio negli Stati Uniti
  • Progetto di uranio avanzato di Recupero In-Situ (ISR) pronto per uno sviluppo rapido
  • Prossimità al mulino di uranio Smith Ranch di Cameco (a 15 km) con una capacità autorizzata di 5,5 milioni di libbre di U3O8

Inoltre, Snow Lake deterrà una partecipazione del 19,99% in GUE, che mantiene una posizione fondamentale in Ubaryon Pty, un'azienda australiana che sviluppa tecnologie innovative per l'arricchimento dell'uranio. Questo investimento strategico mira a affrontare la capacità di arricchimento dell'uranio negli Stati Uniti, in particolare per i reattori nucleari avanzati di nuova generazione.

Snow Lake Resources (NASDAQ: LITM) ha anunciado una empresa conjunta 50/50 con Global Uranium and Enrichment (GUE) para adquirir el Proyecto de Uranio Pine Ridge en la Cuenca del Río Powder de Wyoming. La adquisición tiene como objetivo apoyar los objetivos de seguridad nacional y energética de EE. UU. mediante el desarrollo de la producción de uranio nacional.

Los aspectos clave del proyecto Pine Ridge incluyen:

  • Ubicación en Wyoming, la principal región productora de uranio en EE. UU.
  • Proyecto de uranio avanzado de Recuperación In-Situ (ISR) listo para un desarrollo rápido
  • Proximidad al molino de uranio Smith Ranch de Cameco (a 15 km) con una capacidad autorizada de 5,5 millones de libras de U3O8

Además, Snow Lake tendrá un interés del 19,99% en GUE, que mantiene una posición clave en Ubaryon Pty, una empresa australiana que desarrolla tecnología innovadora para el enriquecimiento de uranio. Esta inversión estratégica tiene como objetivo abordar la capacidad de enriquecimiento de uranio de EE. UU., particularmente para reactores nucleares avanzados de nueva generación.

Snow Lake Resources (NASDAQ: LITM)는 Global Uranium and Enrichment (GUE)와 50/50 합작 투자 계약을 체결하고 와이오밍의 파우더 리버 분지에 있는 파인 리지 우라늄 프로젝트를 인수한다고 발표했습니다. 이 인수는 미국의 국가 및 에너지 안보 목표를 지원하기 위해 국내 우라늄 생산을 개발하는 것을 목표로 하고 있습니다.

파인 리지 프로젝트의 주요 하이라이트는 다음과 같습니다:

  • 미국 우라늄 생산 지역의 선두주자인 와이오밍에 위치
  • 신속한 개발을 위한 준비가 완료된 고급 현장 회수 (ISR) 우라늄 프로젝트
  • 15km 떨어진 Cameco의 스미스 랜치 우라늄 밀과의 근접성, 5.5M lbs U3O8 허가 용량 보유

또한, Snow Lake는 GUE에서 19.99%의 지분을 보유하게 되며, 이는 혁신적인 우라늄 농축 기술을 개발하는 호주 회사인 Ubaryon Pty에서 핵심적인 위치를 유지하고 있습니다. 이 전략적 투자는 미국의 우라늄 농축 능력, 특히 차세대 고급 원자력 발전소를 위한 능력을 해결하는 것을 목표로 하고 있습니다.

Snow Lake Resources (NASDAQ: LITM) a annoncé un partenariat à 50/50 avec Global Uranium and Enrichment (GUE) pour acquérir le Projet Uranium Pine Ridge dans le bassin de Powder River au Wyoming. L'acquisition vise à soutenir les objectifs de sécurité nationale et énergétique des États-Unis en développant la production nationale d'uranium.

Les points forts du projet Pine Ridge comprennent:

  • Emplacement dans le Wyoming, la principale région productrice d'uranium aux États-Unis
  • Projet d'uranium avancé de récupération in situ (ISR) prêt pour un développement rapide
  • Proximité du moulin à uranium Smith Ranch de Cameco (à 15 km) avec une capacité autorisée de 5,5 millions de livres d'U3O8

De plus, Snow Lake détiendra un intérêt de 19,99 % dans GUE, qui maintient une position clé dans Ubaryon Pty, une entreprise australienne développant des technologies innovantes pour l'enrichissement de l'uranium. Cet investissement stratégique vise à répondre à la capacité d'enrichissement de l'uranium des États-Unis, en particulier pour les réacteurs nucléaires avancés de nouvelle génération.

Snow Lake Resources (NASDAQ: LITM) hat ein 50/50-Joint Venture mit Global Uranium and Enrichment (GUE) angekündigt, um das Pine Ridge Uranium Project im Powder River Basin in Wyoming zu erwerben. Der Erwerb zielt darauf ab, die nationalen Sicherheits- und Energieziele der USA zu unterstützen, indem die heimische Uranproduktion entwickelt wird.

Die wichtigsten Highlights des Pine Ridge-Projekts umfassen:

  • Standort in Wyoming, der führenden Uranproduktionsregion der USA
  • Fortgeschrittenes In-Situ Recovery (ISR) Uranprojekt, das bereit für eine schnelle Entwicklung ist
  • Nähe zur Smith Ranch Uranmühle von Cameco (15 km entfernt) mit einer lizenzierten Kapazität von 5,5 Mio. lbs U3O8

Darüber hinaus wird Snow Lake einen Anteil von 19,99% an GUE halten, das eine Schlüsselposition in Ubaryon Pty, einem australischen Unternehmen, das innovative Technologien zur Urananreicherung entwickelt, einnimmt. Diese strategische Investition zielt darauf ab, die Urananreicherungskapazität der USA zu adressieren, insbesondere für fortschrittliche Kernreaktoren der nächsten Generation.

Positive
  • Strategic 50/50 joint venture to acquire Pine Ridge Uranium Project
  • Project located in prime uranium-producing region with favorable regulations
  • 19.99% stake in GUE provides exposure to innovative enrichment technology
  • Proximity to established infrastructure (Cameco's Smith Ranch Uranium Mill)
  • Project aligned with U.S. government initiatives to boost domestic uranium production
Negative
  • Project still in exploration phase with no current production
  • Highly regulated industry with complex approval processes
  • Technology development requires additional strategic partnership and funding
  • Dependent on uranium market conditions and government policy support

Insights

Snow Lake's strategic move to acquire the Pine Ridge Uranium Project through a 50/50 joint venture with GUE represents a significant positioning in the U.S. domestic uranium market. The timing aligns with heightened focus on national security concerns around critical minerals, particularly uranium.

The acquisition holds strategic value given the project's location in Wyoming's Powder River Basin - the premier uranium producing region in the United States with favorable regulatory conditions. Its proximity to Cameco's Smith Ranch Uranium Mill (15km away) with 5.5M lbs U3O8 licensed capacity creates potential infrastructure advantages.

What makes this particularly noteworthy is Snow Lake's parallel 19.99% stake in GUE, providing indirect exposure to Ubaryon's innovative enrichment technology. This creates a vertically-integrated approach spanning mining to potential downstream enrichment capabilities.

The U.S. currently produces a mere 0.02% of global uranium and imports 90% of requirements while depending on foreign suppliers for 95% of yellowcake and 67% of enriched uranium. This extreme supply vulnerability creates a compelling case for domestic projects like Pine Ridge.

While the project's resource size is only referenced as a "large JORC 2012 exploration target" without specific figures, its description as "advanced" and "primed for rapid development" suggests meaningful existing technical work. The project's potential contribution to addressing critical uranium supply chain vulnerabilities positions Snow Lake to potentially benefit from policy tailwinds supporting domestic production.

Winnipeg, Manitoba--(Newsfile Corp. - March 31, 2025) -  Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces that the 50/50 joint venture (the "Joint Venture") with Global Uranium and Enrichment Limited ("GUE") (ASX: GUE), to acquire 100% of the Pine Ridge Uranium Project ("Pine Ridge") in the Powder River Basin in Wyoming, United States, directly supports the United States' national and energy security objectives.

Highlights

  • U.S. National & Energy Security Objectives:
  • Uranium supply chain vulnerabilities create national and energy security risks for the U.S.
  • The U.S. currently produces only 0.02% of global uranium production, and is therefore almost entirely dependent on foreign suppliers of uranium
  • The U.S. has only one commercially operating uranium enrichment plant, with limited capacity, resulting in reliance on foreign suppliers
  • Next generation advanced nuclear reactors will require fuel enriched to higher concentrations
  • Pine Ridge Supports U.S. National & Energy Security Objectives: The acquisition of Pine Ridge by Snow Lake and GUE directly supports U.S. national and energy security objectives by advancing a U.S. domestic uranium project of potentially significant scale through further stages of development:
  • Pine Ridge is located in Wyoming's Powder River Basin and is an advanced In-Situ Recovery (ISR) uranium project primed for rapid development
  • Wyoming is the leading uranium-producing region in the United States, supported by a favourable regulatory environment and streamlined permitting processes
  • Pine Ridge is a uranium project of potential significant scale with a large JORC 2012 exploration target. For more information on this exploration target see GUE's ASX Announcement dated March 12, 2025
  • Pine Ridge is surrounded by global-scale uranium projects held by UEC and Cameco, including Cameco's Smith Ranch Uranium Mill, which is located just 15km away, with a licensed capacity of 5.5M lbs U3O8
  • Ubaryon Next-Generation Enrichment Technology: GUE, in which Snow Lake will hold a 19.99% interest, holds a cornerstone position in Ubaryon Pty Ltd, a private Australian company, developing an innovative uranium enrichment technology:[1]
  • 100% ownership of an enrichment technology based on the chemical separation of naturally occurring uranium isotopes
  • Currently running a structured process to find a potential strategic partner towards securing funding for ongoing development of its business
  • Key motivation to secure a strategic partner is to enable future commercialization of the technology in one of the most highly regulated industries in the world
  • Government approval received for appropriate security approved independent experts to review the details of the technology

CEO Remarks

"The Trump Administration is focusing on national and energy security, and in particular the vulnerabilities of the uranium supply chain," said Frank Wheatley, CEO of Snow Lake. "Given the United States is largely dependent on foreign countries for it supply of uranium, the new administration is focusing its efforts on initiatives designed to expand domestic production of uranium in the United States.

With the Powder River Basin in Wyoming being one of the preeminent uranium producing regions in the United States, coupled with advanced stage of development of Pine Ridge, we strongly believe that Pine Ridge holds the potential to contribute to U.S. domestic production of uranium.

Our strategic 19.99% investment in GUE, coupled with GUE's cornerstone investment in Ubaryon, holds the potential to begin to address the lack of uranium enrichment capacity in the United States, and in particular, the production of high-assay low-enriched uranium required for the next generation of advanced nuclear reactors."

Uranium Supply Chain[2]

The uranium-to-nuclear fuel supply chain in lengthy, complex and full of vulnerabilities from mine to nuclear reactor.

Mining: Uranium is mined primarily in Kazakhstan (43%), Canada (15%), Namibia (11%), Australia (9%), Uzbekistan (7%) and Russia (5%). The United States import 90% of its mined uranium ore requirements.

Milling: After mining, the ore is milled into triuranium oxide (U3O8), referred to as yellow cake. Global yellow cake production is dominated by Kazakhstan (39%), Canada (20%), Namibia (12%), Australis (9%), Uzbekistan (7%) and Russia (5%). The United States is 95% dependent on foreign suppliers for yellow cake (U3O8).

Enrichment: Yellow cake is then enriched, and four companies dominate this stage in the nuclear fuel cycle: Rosatom in Russia, CNNC in China, Orano in France and the Urenco Group (British - German-Dutch). Collectively, they control 62.7% of global commercial uranium enrichment capacity. Nearly 67% of the United States' enriched uranium needs come from foreign suppliers.

United States - Uranium Mining

The United States mined 0.02% of global uranium production in 2022. In order to achieve its objectives of energy security, feed its nuclear energy and defense agendas, and strategic stockpiles of uranium, the United States must ramp up domestic uranium production through policies such as the Trump Administration's Executive Order entitled "Immediate Measures to Increase American Mineral Production" dated March 20, 205 (the "Executive Order"), designed to support domestic U.S. uranium mining.[3]

Snow Lake believes the acquisition and development of Pine Ridge together with GUE, holds the potential to add to U.S. based domestic uranium production, thereby supporting the objectives of the Executive Order.

United States - Uranium Enrichment

Four non-U.S. companies control 62.7% of the world's commercial uranium enrichment capacity, ensuring tight control of this stage of the nuclear fuel cycle. The United States has only one commercially operating uranium enrichment plant, with limited capacity, and which is owned by one of these four companies.[4]

Ubaryon Pty Ltd - Next-Generation Uranium Enrichment

GUE's holds a cornerstone investment (21.9%) in Ubaryon Pty Ltd, a private Australian company, developing and commercializing a unique uranium enrichment technology based on the chemical separation of naturally occurring isotopes. This patented, next-generation enrichment technology, offers the potential for lower capital and operating costs in uranium enrichment. Ubaryon is a member of the World Nuclear Association (WNA), the American Nuclear Society (ANS), and is registered with the U.S.'s Nuclear Energy Institute (NEI). Ubaryon's operations are located at the Australian Nuclear Science and Technology Organization (ANSTO).[5]

Snow Lake believes that as Ubaryon advances the development and commercializing of its enrichment technology, it holds the potential to begin to address the lack of uranium enrichment capacity in the U.S.

About Global Uranium and Enrichment Limited

Global Uranium and Enrichment Limited (GUE) is an Australian public listed company providing unique exposure to not only uranium exploration and development, but to the uranium enrichment space. Amid a nuclear energy renaissance, GUE is developing a portfolio of advanced, high grade uranium assets in prolific uranium districts in the United States and Canada, and has established a cornerstone position in Ubaryon Pty Ltd, an Australian uranium enrichment technology company.

For more information on GUE, please refer to their website[6].

Snow Lake Resources Ltd.

Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian mineral exploration company listed on (NASDAQ: LITM), with a global portfolio of clean energy mineral projects comprised of three uranium projects and two hard rock lithium projects. The Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia, the Black Lake Uranium Project is an exploration stage project located in the Athabasca Basin, Saskatchewan, and the Buffalo Uranium Project is an exploration stage project in Wyoming, United States. The Shatford Lake Project is an exploration stage project located adjacent to the Tanco lithium, cesium and tantalum mine in Southern Manitoba, and the Snow Lake Lithium™ Project is an exploration stage project located in the Snow Lake region of Northern Manitoba. Learn more at www.snowlakeenergy.com.

Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled "Risk Factors" in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law.

Contact and Information

Frank Wheatley, CEO

Investor Relations

Investors:
ir@snowlakelithium.com

Website:
www.snowlakeenergy.com

Follow us on Social Media

Twitter:
www.twitter.com/SnowLakeEnergy

LinkedIn:
www.linkedin.com/company/snow-lake-energy


[1] https://wcsecure.weblink.com.au/pdf/GUE/02912046.pdf

[2] Centre for Strategic & International Studies - February 5, 2025

[3] Immediate Measures to Increase American Mineral Production - The White House

[4] Centre for Strategic & International Studies - February 5, 2025.

[5] https://www.ubaryon.com

[6] https://globaluranium.com.au

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246709

FAQ

What is the significance of Snow Lake's (LITM) Pine Ridge Uranium Project acquisition in Wyoming?

The acquisition aims to boost U.S. domestic uranium production, addressing national security concerns as the U.S. currently produces only 0.02% of global uranium and relies heavily on foreign suppliers.

How does the Pine Ridge Project location benefit Snow Lake (LITM)?

Located in Wyoming's Powder River Basin, Pine Ridge benefits from the state's favorable regulatory environment, streamlined permitting processes, and proximity to Cameco's Smith Ranch Uranium Mill.

What is Snow Lake's (LITM) stake in uranium enrichment technology?

Through its 19.99% interest in GUE, Snow Lake gains exposure to Ubaryon's innovative uranium enrichment technology, which uses chemical separation of naturally occurring isotopes.

How does the LITM joint venture align with U.S. energy security objectives?

The venture supports the U.S. Executive Order to increase domestic mineral production, aiming to reduce dependency on foreign uranium suppliers who currently provide 90% of U.S. uranium needs.
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