Snow Lake is expanding its Uranus portfolio with the acquisition of the Buffalo Uranium project in Wyoming, USA – News -File

The Buffalo Uranium Highlights project:

• Located in Southeast Wyoming, Uranus’s leading jurisdiction in the United States

• Focused on the historic little rune Uranus, where up to £ 65,000 from u₃O₈ were obtained in the 1950s of the last century in the average level between 1.0% and 1.5% u₃O₈

• The historical drilling of Conoco in 1980 confirms the mineralization of uranium over 3000 feet strike that remains open in all directions

• Wyoming has led the United States in the 1995 Uranus production, hosting Uranus’s most famous reserves in the country¹

CEO remarks

“The proposed acquisition of the Buffalo Uranium project allows us to establish a portfolio of Uranus project in the United States, and in particular in Wyoming, currently the leading jurisdiction for uranium production in the United States,” said Frank Whitley, CEO of Snow Lake. “As the global demand for energy continues to grow with the new United States administration, which wants to launch the long -awaited US nuclear renaissance, we feel that establishing a mark in Wyoming is a strong opportunity to create value for our shareholders.

We believe that the development of an internal supply to Uranus in the United States has the potential to contribute to the plans of the United States to commercialize accessible and abundant nuclear energy. “

Strategic acquisition aligned with US Energy Policy

The new US Secretary of Energy has outlined the Ministry of Energy (“Doe“) Plans to achieve President Trump’s energy plans by making commercial nuclear energy a priority to unleash American abundance and energy innovation. As global energy demand continues to increase, accelerated by the exponential growth of data centers and AI, DOE is planning For the United States to manage the commercialization of affordable and abundant nuclear energy.

As an internal Uranus project, Snow Lake believes that the Buffalo Uranium project is well -positioned to contribute to a strong internal supply to uranium to support the targets of the United States regarding the development of accessible and abundant nuclear energy. The company envisages that as this extremely promising US -based project can add a significant value to its uranium project, with a high -end resource potential.

Synergy with Nuclear Energy Growth Strategy of Snow Lake

The acquisition of the Buffalo Uranium project is a key stage in the width strategy for the growth of Snow Lake, complementing the existing portfolio of the Uranium project, which includes the Uranium project in Namibia in Namibia and the Black Lake Understanding Project his memorandum of understanding (“Exit mou“) With Exodys Energy.

A key part of the Trump administration focus on nuclear energy involves a directive to the US geological survey (“USGS“) To consider updating the list of USGS critical minerals to include uranium. Such inclusion will open the United States Federal Fund Internal sources of Uranus.

In parallel with this expansion, Snow Lake continues to progress its partnership with Exodys, under Mou Exodys, which focuses on the future development and commercialization of Uranus assets of Snow Lake.

Buffalo Uranium project

Review

The Buffalo Uranus project is located in the southeast of Wyoming, approximately 50 miles south of Casper, Wyoming and focuses on the historic little man Uranus. The mineralization of Uranus in Little Mina Uranna was discovered in the 50s. A total of approximately £ 65,000 u₃O₈ are extracted with an average degree between 1.0% 1.5% u₃O_8.

The Buffalo Uranus project consists of sixteen non -extracted extraction claims, all more specially described in Figure 1 and List A.

Exploration

In addition to the mining of the small Uranus mine in the 1950s, a total of 13 widely spaced drill holes consisting of eight holes and five holes were drilled by Conoco in 1979 and 1980. No drilling of drilling was undertaken Conoko in 1979 and 1980 did not drill. The 1980 buffalo uranium project The Mineralization of Uranus has been crossed in the impact length of approximately 3000 feet and remains open along the strike and deep.

SUGGESTED PROGRAM to study

Snow Lake plans to use modern research techniques to maximize the potential of the Buffalo Uranium project, including the compilation of all historical data for exploration, air exploration, ground geophysics and targeted drilling programs aimed at determining mineral resources assessment, Compatible with SK-1300.

Figure 1. Location of Buffalo Uranium project, Wyoming

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Wyoming: Uranus’s leading jurisdiction

Wyoming is the leading jurisdiction of Uranus in the United States, hosting the largest economic reserves of Uranus ore in the United States and continues to lead the United States in Uranus production. Since 1951, Wyoming has produced over £ 238 million₃O₈ And it remains the best region that produces uranium in the country. Wyoming hosts the largest stocks of economic uranium in the United States, which are located through the pool of the river powder, the Big Divid pool, the Shirley pool and the gas hills.²

AGREEMENT TO ACCEPT 100% INTEREST IN THE BUFALO URANIUM PROJECT

Snow Lake and Bazooka Resources PTY LTD (”Bazuka“), a private Australian company, entered into a binding letter of intention (“Fat“), according to which the Snow Lake will acquire 100% of Bazooka.

Bazooka has the exclusive right to acquire 100% interest in the Buffalo Uranium project through an agreement option (The “Option Agreement“) With the three individual owners of the Buffalo Uranium project (the”Sellers“).

Snow lake will buy Bazooka in mind:

1. Initial cash payment: Payment of $ 50,000 in cash on Bazooka, when executing LOI, to ensure the exceptional option to buy the Buffalo Uranium project;

2. Closing Payment in Cash: Payment from Snow Lake to sellers of the sum of $ 200,000 in cash at concomitant closure (TheClosure“) Since the acquisition of the Buffalo Uranium project by Bazooka and the acquisition of Bazooka by Snow Lake is expected to be within 45 days of LOI; and

3. Closing Snow Lake Shares Issuance: Distribution and issuance of sellers of closure, a set of this number of fully paid and unsuccessful ordinary shares of Snow Lake (The “Snow Lake shares“) which have a value of $ 400,000, calculated in accordance with the 10-day volume, weighted an average cost of closing ordinary Snow Lake shares for the 10 trade days immediately before closing;

4. First payment of a cornerstone: Pay from Snow Lake to:

   1. the sum of $ 450,000 in cash (First payment of a cornerstone“) On the date (“First date of publication“) that a technical report has been published compatible with SK-1300, and which shows that there is a uranium mineral resource on the project for buffalo uranium of at least £ 10 million U₃O₈ with a minimum average degree> 0.2% u₃O_8,,or £ 2.5 million₃O₈ with a minimum average degree> 1.0% u₃O₈;

      or the only Snow Lake elections;

   2. This number of Snow Lake shares, which have a value of $ 450,000 on the basis of a 10-day volume, weighted an average cost of closing ordinary Snow Lake shares for the 10 trade days, immediately before the first date of publication;

5. A second payment of a cornerstone: Pay from Snow Lake to:

   1. the sum of $ 450,000 in cash (A second payment of a cornerstone“) On the date (“Second publication date“) To publish a technical report compatible with the SK-1300, and which shows that there is a uranium mineral resource on the Bivol’s Uranus project of a minimum of £ 20 million U₃O₈ with a minimum average degree> 0.2% u₃O_8, or £ 5m₃O₈ with a minimum average degree> 1.0% u₃O₈;

      or the only Snow Lake elections;

   2. This number of Snow Lake shares, which have a value of $ 450,000 on the basis of a 10-day volume, weighted an average cost of closing the ordinary Snow Lake shares for the 10 trade days, immediately before the second date of publication.

6. Dummy: Sellers retain 1.5% net remuneration return (TheRoyalty“), According to the claims for minerals and Bazuka, has a contractual right to buy royalty at any time and from time to time for a total of $ 1.5 million in cash.

For Snow Lake Resources Ltd.

Snow Lake Resources Ltd., D/B/A Snow Lake Energy, is a Canadian mineral research company listed on NASDAQ: LITM, with a global portfolio of clean energy projects consisting of two Uranium projects and two Hard rock lithium projects. The Uranus project of Engo Valley is a research study project located on the shore of Namibia’s skeleton, and the Uranium Black Lake project is a research research project located in the Atabasan pool. The Shatford Lake project is a research study project adjacent to the Tanco Lithium, Cesium and Tantalum Mine in Southern Manitoba, and the Snow Lake Lithium ™ project is a study for a study of studies located in the Snow Lake in Northern Manitoba. Learn more at www.snowlakeenergy.com.

Schedule a

The mineral claims consist of the following sixteen non -marketed yield claims located in tabs 13, 14 and 24 Township 27n & Range 84W, in Carbon County, Wyoming as follows:

¹ State geological studies of Wyoming – a summary of Uranus resources since 2023 – Posted in January 2024.
² State geological studies of Wyoming – a summary of Uranus resources since 2023 – Posted in January 2024.

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