Snow Lake and Global Uranium and Enrichment Limited Successfully Close the Acquisition of the Pine Ridge Uranium Project
Snow Lake Resources (NASDAQ: LITM) and Global Uranium and Enrichment (GUE) have successfully completed their joint acquisition of the Pine Ridge Uranium Project in Wyoming's Powder River Basin. The deal establishes a 50/50 joint venture partnership between the two companies.
Key aspects of the transaction include Snow Lake becoming a 19.9% cornerstone shareholder in GUE, and Snow Lake's CEO Frank Wheatley joining GUE's Board of Directors. The Pine Ridge project is described as a uranium project of potentially significant scale with a large JORC 2012 exploration target, situated in the premier U.S. uranium mining region.
The companies are actively preparing for a significant 2025 drilling program at Pine Ridge, with further updates on exploration plans and timelines expected in the coming weeks.
Snow Lake Resources (NASDAQ: LITM) e Global Uranium and Enrichment (GUE) hanno completato con successo l'acquisizione congiunta del Progetto Uranio Pine Ridge nella Powder River Basin del Wyoming. L'accordo crea una joint venture paritetica al 50% tra le due società.
Tra gli aspetti principali della transazione, Snow Lake diventa azionista di riferimento con una quota del 19,9% in GUE, e il CEO di Snow Lake, Frank Wheatley, entra nel Consiglio di Amministrazione di GUE. Il progetto Pine Ridge è descritto come un progetto di uranio potenzialmente di grande portata, con un ampio target esplorativo JORC 2012, situato nella principale area mineraria di uranio degli Stati Uniti.
Le società stanno attivamente preparando un importante programma di perforazioni per il 2025 a Pine Ridge, con ulteriori aggiornamenti sui piani di esplorazione e sui tempi previsti nelle prossime settimane.
Snow Lake Resources (NASDAQ: LITM) y Global Uranium and Enrichment (GUE) han completado con éxito la adquisición conjunta del Proyecto de Uranio Pine Ridge en la cuenca Powder River de Wyoming. El acuerdo establece una sociedad conjunta al 50/50 entre ambas compañías.
Aspectos clave de la transacción incluyen que Snow Lake se convierte en accionista principal con un 19,9% en GUE, y que el CEO de Snow Lake, Frank Wheatley, se une al Consejo de Administración de GUE. El proyecto Pine Ridge se describe como un proyecto de uranio de potencial escala significativa con un amplio objetivo exploratorio JORC 2012, ubicado en la principal región minera de uranio de Estados Unidos.
Las empresas están preparando activamente un programa de perforación importante para 2025 en Pine Ridge, con más actualizaciones sobre los planes y cronogramas de exploración que se esperan en las próximas semanas.
Snow Lake Resources (NASDAQ: LITM)와 Global Uranium and Enrichment (GUE)가 와이오밍 파우더 리버 분지에 위치한 Pine Ridge 우라늄 프로젝트의 공동 인수를 성공적으로 완료했습니다. 이번 거래를 통해 두 회사는 50대 50의 합작 투자 파트너십을 설립했습니다.
거래의 주요 내용으로는 Snow Lake가 GUE의 19.9% 핵심 주주가 되었으며, Snow Lake의 CEO인 Frank Wheatley가 GUE 이사회에 합류한다는 점이 포함됩니다. Pine Ridge 프로젝트는 미국 최고의 우라늄 광산 지역에 위치한 잠재적으로 대규모인 JORC 2012 탐사 목표를 가진 우라늄 프로젝트로 설명됩니다.
양사는 2025년 Pine Ridge에서 대규모 시추 프로그램을 준비 중이며, 향후 몇 주 내에 탐사 계획과 일정에 대한 추가 업데이트를 제공할 예정입니다.
Snow Lake Resources (NASDAQ : LITM) et Global Uranium and Enrichment (GUE) ont finalisé avec succès leur acquisition conjointe du projet d'uranium Pine Ridge dans le bassin de Powder River, Wyoming. Cet accord établit un partenariat en coentreprise à parts égales (50/50) entre les deux sociétés.
Les points clés de la transaction incluent Snow Lake devenant un actionnaire principal détenant 19,9 % de GUE, ainsi que l'entrée du PDG de Snow Lake, Frank Wheatley, au conseil d'administration de GUE. Le projet Pine Ridge est décrit comme un projet d'uranium potentiellement d'envergure significative, avec une importante cible d'exploration JORC 2012, situé dans la principale région minière d'uranium des États-Unis.
Les entreprises préparent activement un programme de forage important pour 2025 à Pine Ridge, avec des mises à jour supplémentaires sur les plans d'exploration et les calendriers attendues dans les semaines à venir.
Snow Lake Resources (NASDAQ: LITM) und Global Uranium and Enrichment (GUE) haben erfolgreich gemeinsam das Pine Ridge Uranprojekt im Powder River Basin, Wyoming, erworben. Der Deal begründet eine 50/50 Joint-Venture-Partnerschaft zwischen den beiden Unternehmen.
Wesentliche Punkte der Transaktion sind, dass Snow Lake ein Cornerstone-Investor mit 19,9 % Anteilen an GUE wird und Snow Lakes CEO Frank Wheatley dem Vorstand von GUE beitritt. Das Pine Ridge Projekt wird als ein Uranprojekt mit potenziell bedeutendem Umfang und einem großen JORC 2012 Explorationsziel beschrieben, das in der führenden Uranabbau-Region der USA liegt.
Die Unternehmen bereiten aktiv ein umfangreiches Bohrprogramm für 2025 in Pine Ridge vor, weitere Updates zu Explorationsplänen und Zeitplänen werden in den kommenden Wochen erwartet.
- Strategic 50/50 joint venture partnership established in premier U.S. uranium mining region
- Acquisition of potentially significant-scale uranium project with large JORC 2012 exploration target
- 19.9% equity stake acquired in partner company GUE
- Board representation secured through CEO's appointment to GUE's Board
- Significant capital expenditure required for 2025 drilling program
- Project still in exploration phase with no proven reserves
Winnipeg, Manitoba--(Newsfile Corp. - April 28, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces that Snow Lake and Global Uranium and Enrichment Limited ("GUE") have successfully completed their joint acquisition of the Pine Ridge Uranium Project ("Pine Ridge") in Wyoming's Powder River Basin.
Highlights
- Successful completion of the acquisition of the Pine Ridge
- Snow Lake and GUE are 50 / 50 joint venture partners in Pine Ridge
- Pine Ridge is uranium project of potential significant scale with a large JORC 2012 exploration target1, located in Wyoming's Powder River Basin, the premier U.S. uranium mining region
- Snow Lake is now also a cornerstone
19.9% shareholder in GUE
- Frank Wheatley, Snow Lake's CEO, has joined the Board of Directors of GUE
- Preparations for the 2025 drilling program at Pine Ridge are well advanced, with further updates on exploration plans and timelines expected in the coming weeks
CEO Remarks
"We are extremely pleased to have completed the acquisition of Pine Ridge in joint venture with Global Uranium and Enrichment Limited," said Frank Wheatley, CEO of Snow Lake. "Preparations for the significant 2025 drill program at Pine Ridge are advancing quickly, and we look forward to working with GUE to begin work on Pine Ridge as soon as possible."
About 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 two 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, and the Black Lake Uranium Project is an exploration stage project located in the Athabasca Basin, Saskatchewan. 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 The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ("the JORC Code") 2012 edition. https://globaluranium.com.au
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249851
FAQ
What is the ownership structure of the Pine Ridge Uranium Project after LITM's acquisition?
Where is the Pine Ridge Uranium Project that LITM acquired located?
What percentage stake did Snow Lake Resources (LITM) acquire in GUE?
When will LITM begin drilling operations at the Pine Ridge Uranium Project?
