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Snow Lake Resources Ltd. (NASDAQ:LITM) – Notable News

March 28, 2024

Snow Lake Resources Ltd. (NASDAQ:LITM, Not Rated, Alina Islam) has announced that it has initiated the preliminary stages of its 2024 exploration program planned at its Engo Valley uranium project in Namibia, where it recently entered into an option agreement to earn 85% interest (read note). The preliminary work includes compilation, digitization, and analysis of all historical exploration data, including geophysics completed in the 1970s and airborne surveys conducted by the Namibian Government. Mobilization to the project site is scheduled for late April to conduct ground geophysics programs, validate previous survey data, guide the drill program, and pinpoint new target areas for further exploration. We are encouraged to see exploration activities commence at Engo Valley. As per the terms of the agreement, the company plans to spend US$200k on this exploration program, which we believe could culminate in an updated resource estimate at the project, which currently hosts a non-compliant resource of 5.68Mt at 340ppm U3O8 for 4.25M lb U3O8. Read more

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Snow Lake Resources Ltd. – NASDAQ:LITM

  1. The analyst has visited the head/principal office of the issuer or has viewed its material operations.
  2. The issuer paid for or reimbursed the analyst for a portion, or all of the travel expense associated with a visit.
  3. In the last 12 months preceding the date of issuance of the research report or recommendation, Red Cloud Securities Inc. has performed investment banking services for the issuer.   
  4. In the last 12 months, a partner, director or officer of Red Cloud Securities Inc., or an analyst involved in the preparation of the research report has provided services other than in the normal course investment advisory or trade execution services to the issuer for remuneration. 
  5. An analyst who prepared or participated in the preparation of this research report has an ownership position (long or short) in, or discretion or control over an account holding, the issuer’s securities, directly or indirectly.
  6. Red Cloud Securities Inc. and its affiliates collectively beneficially own 1% or more of a class of the issuer’s equity securities.
  7. A partner, director, officer, employee or agent of Red Cloud Securities Inc. serves as a partner, director, officer or employee of (or in an equivalent advisory capacity to) the issuer.
  8. Red Cloud Securities Inc. is a market maker in the equity of the issuer.
  9. There are material conflicts of interest with Red Cloud Securities Inc. or the analyst who prepared or participated in the preparation of the research report, and the issuer.

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