Business
Snow Lake Energy: Acquisition of Pine Ridge Uranium Project in Wyoming Advances Towards Closing
Winnipeg, Manitoba--(Newsfile Corp. - March 20, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and
About this update from Frontier Nuclear And Minerals Inc.
[{"type":"text","content":" Winnipeg, Manitoba--(Newsfile Corp. - March 20, 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, together with Snow Lake's cornerstone 19.99% investment in GUE's A$10 million equity placement (the \"Placement\"), is advancing towards closing. Highlights GUE General Meeting: GUE has called a general meeting for April 14, 2025 to approve both the Joint Venture and the Placement, with a tentative closing date of April 22, 2025 Premier U.S. Uranium Asset - Pine Ridge: 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 (see Figure 1) Cornerstone Investment: Snow Lake will acquire a strategic 19.99% position in GUE by participating in the Placement Board Representation: Snow Lake CEO, Frank Wheatley, will join the Board of Directors of GUE as a Non-Executive Director, ensuring strategic alignment Broader GUE Uranium Portfolio Exposure: Snow Lake's investment in GUE also provides indirect exposure to multiple premier uranium assets currently held by GUE, including: Tallahassee Uranium Project (Colorado, USA): With a large JORC 2012 Mineral Resource. For more information on the resource, please refer to GUE's website1. Ubaryon Investment: GUE holds a cornerstone position in Ubaryon, a pioneering Australian company developing next-generation uranium enrichment technology2 CEO Remarks \"We are pleased that our acquisition of a 50% interest in the Pine Ridge Uranium Project...