Snow Lake Resources Ltd. announced that its 50/50 joint venture with Global Uranium and Enrichment Limited (GUE) to acquire the Pine Ridge Uranium Project in Wyoming is advancing towards closing. This also includes Snow Lake's 19.99% investment in GUE's A$10 million equity placement.
GUE has called a general meeting for April 14, 2025, to approve the acquisition, marking a significant step in the transaction process. The Pine Ridge Uranium Project is located in Wyoming's Powder River Basin, a preeminent uranium-producing region in the United States.
Snow Lake believes that the advanced stage of development of Pine Ridge holds the potential to create value for its shareholders. The successful closing of this joint venture will solidify Snow Lake's strategic foothold in the U.S. uranium sector.
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