Thompson Brothers Lithium Project Update

Thompson Brothers Lithium Project Update 150 150 Snow Lake Resources
  • Snow Lake has continued to advance its project, actively investigating downstream processing with its strategic location on a rail line with a route to port. A market update will be provided shortly.
  • Thompson Brothers Lithium has a current resource of 6.3mt @ 1.3 Li2O containing 86,940 tonnes of Li2O using a 0.6% Li2O reporting cut-off which remains open to depth and on strike for potential further resource expansion.
  • Snow Lake’s increased activity:
  • Exploration and development activities on the Thompson Brothers Lithium Project;
  • Further project potential consolidation and acquisitions in Canada;
  • Assessment of the feasibility of downstream processing facilities located in proximity to European or North American future potential offtake end users;
  • Assessment of integration of multiple renewable and power generation sources, battery storage and advanced control systems to service full load requirements while driving cost and minimizing our carbon footprint;
  • The acquisition of rights to a facility capable of processing the spodumene produced from the Thompson Brothers Lithium Project; and
  • Environmental baseline studies and social corporate responsibility activities, and general corporate and working capital requirements.

January 21, 2021, TORONTO, ONT. – SNOW LAKE RESOURCES LTD. (“Snow Lake”, “SNOW” or the “Company”) is pleased to announce that Snow Lake Resources Ltd, based in Manitoba, Canada is rapidly advancing the Thompson Brothers Lithium Project.

Work programs will commence with the recently announced PEA and the assessment and feasibility of downstream processing facilities located in proximity to European or North American future potential offtake end users (Figure 1).

Snow Lake is also conducting an assessment of the integration of multiple renewable and power generation sources, battery storage and advanced control systems to service full load requirements. All while driving costs down and minimizing our carbon footprint during lithium extraction and processing stage in line with Manitoba Innovation, Energy and Mines clean energy strategy.

Already a leader in developing one of the cleanest and greenest electricity systems in the world,

Manitoba has already taken bold steps to ensure our electricity production is more than 98 per cent renewable using hydro and wind resources. Manitoba is a Canadian leader in terms of renewable heat (and cooling) with 11,000 geothermal installations (source: Manitoba Clean Energy Strategy)

Figure 1 – Port of Churchill Strategically Located to serve the European market

Figure 2 – European Battery Giga-Factories

As the EV market evolves, Snow Lake’s geographical location becomes clearer as a large competitive advantage.  Our conversations with Artic Gateway Group (announced August 18, 2019) have shown that we can access their rail system by the rail head just ~30km from our property.  Once on rail, our lithium could be shipped to Europe via Port of Churchill or down to Auto Alley USA.

To learn more please visit: https://snowlakeresources.com/

To learn more please visit: https://novaminerals.com.au/

ON BEHALF OF THE BOARD

Signed

Derek Knight

VP Corp Dev

For further information, please contact:

Derek@SnowLakeResources.com

Streamlined Competent Person Statement

The information in this announcement is based on information compiled by Mr Dale Schultz. Mr Dale Schultz, Principle of DjS Consulting, who is Snow Lake Resources Chief Geologist and Director compiled the technical information in this release and is a member of the Association of Professional Engineers and Geoscientists of Saskatchewan (APEGS). Mr Schultz has sufficient experience relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person. Mr Schultz consents to the inclusion in the report of the matters based on information in the form and context in which it appears.

Snow Lake Resources confirms in the subsequent public report that it is not aware of any new information or completed data that materially affects the information being reported.

Forward-Looking Statements:

Certain statements in this document are or maybe “forward-looking statements” and represent Snow Lake’s intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Snow Lake Resources Ltd, and which may cause Snow Lake’s actual performance in future periods to differ materially from any express or implied estimates or projections. Nothing in this document is a promise or representation as to the future. Statements or assumptions in this document as to future matters may prove to be incorrect and differences may be material. Snow Lake Resources Ltd does not make any representation or warranty as to the accuracy of such statements or assumptions.