Research analysts covering Snow Lake Resources.
Recent press releases and 8-K filings for LITM.
Snow Lake Resources Ltd. Updates on Ubaryon's Uranium Enrichment Progress
LITM
New Projects/Investments
M&A
- Snow Lake Resources Ltd. (LITM) provided an update on Ubaryon, a private Australian company developing a unique uranium enrichment technology.
- Ubaryon's core uranium isotope technology is currently at Technology Readiness Level (TRL) 4 and is targeted to reach TRL 5 within the next 3 years, supported by a recent investment from Urenco.
- Snow Lake is the largest shareholder of Global Uranium and Enrichment Limited (GUE) with 19.9%, and GUE is the largest shareholder of Ubaryon with 21%; Snow Lake is also in the process of acquiring the remaining GUE shares it does not currently own.
- Ubaryon's technology simplifies the enrichment process by eliminating the need for conversion from uranium oxide to gaseous uranium (UF6) and deconversion.
- Ubaryon is also developing chlorine isotope separation for molten salt nuclear reactors and a patent-pending sorbent powder for uranium recovery from waste solutions.
Dec 19, 2025, 1:12 PM
Snow Lake Resources Ltd. Announces Positive Drill Results from Pine Ridge Uranium Project
LITM
New Projects/Investments
- Snow Lake Resources Ltd. (LITM) announced on December 15, 2025, the fourth set of positive drill results from its Pine Ridge Uranium Project, a 50/50 joint venture with Global Uranium and Enrichment Limited.
- Results from an additional 45 drill holes (out of 93 total) demonstrated strong development opportunity, with highlights including 2.6m at 0.101% (1,010 ppm) U3O8 from 257.6m in PR25-093.
- The drilling program, which involved a total of 114 holes over 38,000m, has been completed, and the final set of results is expected shortly.
- CEO Frank Wheatley emphasized Pine Ridge as a key asset for developing U.S. focused nuclear fuel cycle capabilities, supporting domestic nuclear industry policies.
Dec 15, 2025, 1:22 PM
Snow Lake Resources Receives FIRB Approval for Acquisitions
LITM
M&A
New Projects/Investments
- Snow Lake Resources Ltd. (LITM) announced on December 8, 2025, that it received Australian Foreign Investment Review Board (FIRB) approval for the acquisition of 100% of Global Uranium and Enrichment Limited (GUE) and an indirect 21.9% interest in Ubaryon Pty Ltd..
- This FIRB approval is a condition precedent for Snow Lake's acquisition of GUE and Ubaryon, with the company targeting completion of the GUE acquisition in early 2026.
- Separately, Urenco also received FIRB approval for its A$5 million investment in Ubaryon, which will result in a 13% interest in Ubaryon.
- These approvals are a step towards Snow Lake building out its capabilities across the front end of the nuclear fuel cycle.
Dec 8, 2025, 1:28 PM
Snow Lake Resources Ltd. Welcomes Uranium's Critical Mineral Designation
LITM
New Projects/Investments
- Snow Lake Resources Ltd. (LITM) welcomed the U.S. Geological Survey's designation of uranium as a critical mineral in the Final 2025 List of Critical Minerals, released on November 7, 2025.
- This designation confirms uranium's essential role in U.S. national, economic, and energy security, supporting the development of a secure, domestic nuclear fuel supply chain.
- The designation may make U.S. industry participants eligible for federal funding, permitting, and procurement advantages, including government loan programs, grant funding, and streamlined permitting pathways for qualifying uranium projects.
- Snow Lake, a U.S. focused nuclear fuel cycle company, anticipates this designation will accelerate U.S. Government action to rebuild U.S. nuclear independence.
Nov 10, 2025, 2:16 PM
Snow Lake Resources Launches Kadmos Energy Services to Enter Nuclear Power Sector
LITM
New Projects/Investments
Product Launch
Management Change
- Snow Lake Resources Ltd. (LITM) has launched Kadmos Energy Services LLC, a new U.S.-based nuclear energy company dedicated to the design and deployment of small modular reactors (SMRs).
- Dr. Youssef Ballout, a distinguished nuclear technology expert, has been appointed as the founding CEO of Kadmos.
- Snow Lake will invest up to US$10 million for a 49% ownership stake in Kadmos, with an initial US$2 million investment completed on October 21, 2025, to initiate engineering and development programs.
- This strategic expansion moves Snow Lake from uranium exploration and development into nuclear power generation and technology development, aiming to become an integrated player across the entire nuclear value chain.
Oct 21, 2025, 11:32 AM
Snow Lake Resources to Acquire Global Uranium and Enrichment Limited
LITM
M&A
New Projects/Investments
- Snow Lake Resources Ltd. (LITM) announced a definitive agreement to acquire 100% of Global Uranium and Enrichment Limited (GUE), aiming to create a growth-oriented, U.S. focused nuclear fuel cycle company.
- The transaction values GUE at an equity value of A$44.5 million and an enterprise value of A$41.5 million, representing a 40.3% premium to GUE's closing price on October 3, 2025.
- The Combined Group is projected to have an enhanced market capitalization of approximately US$76.7 million and be well-funded with approximately US$18.5 million in cash.
- This acquisition will consolidate uranium exploration and development assets, including the strategic Pine Ridge project, and expand exposure to the nuclear fuel cycle through a 21.9% interest in Ubaryon (uranium enrichment) and a partnership with Exodys Energy (small modular reactors).
- The completion of the acquisition is targeted for Q1 2026.
Oct 6, 2025, 1:48 PM
Snow Lake Resources Ltd. Announces Encouraging Exploration Results from Pine Ridge Uranium Project
LITM
New Projects/Investments
- Snow Lake Resources Ltd. (NASDAQ: LITM) announced encouraging exploration results from its Pine Ridge Uranium Project, a 50/50 joint venture with Global Uranium and Enrichment Limited (GUE) in Wyoming.
- An additional 15 drill holes have been completed, bringing the total to 49 drill holes for 18,239m of drilling. The total program of 125 holes (38,000m) is expected to be completed by November 2025.
- Highlights from the recent drilling include intercepts of 1.8m at 550ppm U3O8 and 1.7m at 520ppm U3O8.
- The drilling confirmed the existence and continuity of at least two major sandstone units that appear geologically and hydrologically isolated, supporting future In-Situ Recovery (ISR) development.
- CEO Frank Wheatley noted the company's strategic positioning to benefit from a strengthening uranium market, with uranium prices recently exceeding US$80/lb.
Oct 2, 2025, 1:46 PM
Snow Lake Resources Ltd. Announces Initial Drill Results from Pine Ridge Uranium Project
LITM
New Projects/Investments
- Snow Lake Resources Ltd. (LITM) announced excellent initial drill results from its Pine Ridge Uranium Project, a 50/50 joint venture with Global Uranium and Enrichment Limited (GUE), on September 17, 2025.
- The joint venture has completed 33 holes totaling 12,540m (41,140 ft) of drilling at Pine Ridge, located in the Powder River Basin in Wyoming.
- Encouraging intercepts include 1.1m at 780 ppm U3O8 within a broader interval of 3.5m at 540 ppm U3O8, and 1.2m at 1,320 ppm U3O8 within a broader interval of 2.0m at 920 ppm U3O8.
- Drilling is ongoing and expected to continue through November 2025, with a maiden mineral resource estimate targeted by year-end.
Sep 17, 2025, 11:43 AM
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