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Snow Lake Energy Extends the Option Agreement for the Mound Lake Gallium Project
Winnipeg, Manitoba--(Newsfile Corp. - January 15, 2026) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a nuclear fuel cycle co
About this update from Frontier Nuclear And Minerals Inc.
[{"type":"text","content":" Winnipeg, Manitoba--(Newsfile Corp. - January 15, 2026) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) (\"Snow Lake\"), a nuclear fuel cycle company, announces that it has reached an agreement with Canadian Uranium Corp. (\"Canadian Uranium\") to extend the existing option agreement (the \"Agreement\") with respect to the Mound Lake Gallium Project (\"Mound Lake\"), situated north of Thunder Bay, Ontario, Canada. This Agreement is timely and coincides with the U.S. Administration's Proclamation \"Adjusting Imports of Processed Critical Minerals and Their Derivative Products into the United States\" (the \"Proclamation\") issued on Wednesday, January 14, 2026, with its focus on ensuring that the U.S. has sufficient domestic mining and processing of critical minerals to reduce import reliance on foreign countries. Highlights The Agreement provides a one-year extension of the underlying option agreement The Mound Lake area is highly prospective for lithium, cesium and tantalum (LCT) deposits, including a variety of rare earths and gallium Historical work on Mound Lake has confirmed gallium values ranging from 50 to 110 ppm in a series of grab samples obtained during Canadian Uranium's field program in 2023 The U.S. imports 100% of its gallium requirements, as gallium is an essential component of many military and defense applications. Snow Lake CEO Remarks \"As our primary focus remains the development of our nuclear fuel cycle business, we continue to pursue our ongoing strategy of opportunistically acquiring interests in North American based critical minerals projects that hold the potential to assist in building domestic North American critical minerals supply chains,\" said Frank Wheatley, CEO of Snow Lake. \"Mound Lake fits nicely into that strategy, at modest cost, as historical work on Mound Lake has demonstrated the potential for gallium, as well as a variety of other rare earth elements and LCT deposits. As the U.S. Administration continues to advance it policies to ensure sufficient domestic mining and processing of critical minerals to ensure U.S. national security, including gallium, we feel the potential of Mound Lake is worth exploring as a possible solution to U.S. requirements,\" Mr. Wheatley continued. Gallium as a Critical Mineral Gallium is classified as a critical mineral by the U.S., Canada,...