Snow Lake Resources Soars 10.64% on Drilling Commencement

On July 18, 2025, Snow Lake Resources experienced a significant pre-market surge, rising by 10.64%.

Snow Lake Resources has announced that it will commence drilling operations at its Pine Ridge uranium project in Wyoming on July 21, 2025. This project, a 50/50 joint venture with Global Uranium and Enrichment Limited, will involve an extensive 38,000-meter drilling campaign aimed at providing a maiden resource estimate by the end of 2025. The project is strategically located in Wyoming's Powder River Basin, a mining-friendly jurisdiction with extensive historical data. The development strategy focuses on In-Situ Recovery (ISR), which typically requires lower capital investment and allows for faster project timelines compared to conventional mining methods.

In addition to the Pine Ridge project, Snow Lake is continuing its Phase 2 drill program at the Engo Valley project in Namibia. This program targets approximately 7,500 meters of drilling and is designed to develop sufficient drill data to calculate a maiden uranium resource estimate in line with U.S. Securities and Exchange Commission's SK-1300 standards by the end of 2025. These developments align with recent U.S. Administration executive orders promoting the expansion of nuclear energy and supporting domestic production of critical minerals such as uranium. These policies are expected to provide a substantial boost to projects like Pine Ridge and Engo Valley, given the increased demand for nuclear energy to power AI-driven data centers and support national security.

Snow Lake's CEO, Frank Wheatley, emphasized the potential of the Pine Ridge project to contribute significantly to U.S. energy security goals, highlighting the commencement of drilling as a major step towards achieving these objectives. The dual-geography strategy pursued by Snow Lake, with active projects in both the U.S. and Namibia, aims to mitigate risk and accelerate the company's path to resource definition.