Snow Lake

Snow Lake Resources Signs MOU with Tanco Mining Corporation of Canada to Fast Track Thompson Brother Lithium Project Development

Snow Lake Resources Signs MOU with Tanco Mining Corporation of Canada to Fast Track Thompson Brother Lithium Project Development 150 150 Snow Lake Resources

Highlights

  • Executed Memorandum of Understanding with Tanco Mining Corporation of Canada Limited.
  • Unlocks low capex, clear path to production and cash flow
  • MOU to evaluate spodumene processing opportunities at the Tanco Mine’s floatation circuit
  • Work jointly towards establishing the Tanco Mine as a central Spodumene processing hub

02 August 2019, TORONTO, ONT. – SNOW LAKE RESOURCES LTD. (“Snow Lake”, “SNOW” or the “Company”) are pleased to announce it has reached a Memorandum of Understanding (MOU) with Tanco Mining Corporation of Canada Limited (Tanco) to work collaboratively between the Tanco Mine and the Thompson Brothers Lithium Project. The Tanco Mine is now operated by Tanco Mining Corporation of Canada Limited. and was previously North America’s largest and sole producer of Spodumene, Tantalum and Cesium on the north west shore of Bernic Lake, Manitoba, Canada. The mine has the largest known deposit of pollucite, is also the world’s largest current producer of caesium.

Under this MOU, Tanco and Snow Lake will work collaboratively to explore all possible synergies with the view of deliver economic benefits to both parties. The agreement identifies a range of initiatives that may be pursued including investigating processing of the Thompson Brothers material utilizing the Tanco infrastructure and Tanco supporting financing options for project infrastructure. In addition, other means will be investigated to maximize local employment with added economic benefits for the Town of Snow Lake, Winnipeg and surrounds, which headquarter each operation.

This MOU now outlines and demonstrates our fast track development strategy and signifies a low capex, clear strategy and pathway to production and cash flow for Snow Lake.

In light of this significant development within the company which gives us a clear path to production, the company will be in discussions with various investment bankers and brokers to reprice the listing and raise further strategic funds in the interim to fast track development and the opportunity at hand, which may delay the listing by a few weeks on the CSE.

Under the MOU Snow Lake and Tanco will now engage in further discussions with an aim to formalize an investment and operational strategy that will allow for the “fast track” development of the Thompson Brothers Lithium Project.

Figure – Tanco and Snow Lake Representatives

In summary, the MOU is intended to:

  1. Investigate the viability of partnering and processing Lithium ore through the Tanco Mine Spodumene floatation circuit.
    1. Facilitate strategies to maximize the local economic benefit and job opportunities as a result of responsible development of the Snow Lake and Winnipeg;
    1. Provide access to Tanco with regard to baseline economic scoping works for the Thompson Brothers Lithium Project for the purpose of assessing the suitability of potential synergies between Tanco and Snow Lake.
    1. Establish the groundwork to develop a plan for data sharing with Tanco and Snow Lake personnel working collaboratively.
    1. Provide a framework for Tanco and Snow Lake to cooperatively engage with local communities and other project stakeholders to incorporate their input via public meetings and consultations.
    1. Identify areas requiring federal, state and local permitting, and facilitate support for obtaining such permits if required.
    1. Work collaboratively to establish an agreement for the Snow Lake’s usage of Tanco Mine spodumene floatation circuit.
    1. Investigate Tanco-supported financing or off take options whilst establishing a fair pricing mechanism of providing a Direct Shipping Ore (“DSO”) to the Tanco Mine spodumene floatation circuit.
    1. Establish an estimated range of DSO Spodumene grade delivery to the Tanco Mine spodumene floatation circuit.
    1. Determine other means to maximize local employment and other economic benefits.

The MOU will expire on the third anniversary of the effective date unless otherwise extended by written agreement between the parties. Either party may terminate the MOU earlier for any reason at any time upon delivery to the other party of written notice of termination.

Snow Lake CEO, Derek Knight commented “We are delighted to be working with Tanco Mining Corporation of Canada Limited and building on our relationship to fast-track development of the Thompson Brothers Lithium Project and look to provide additional feed to the Tanco Mine. This MOU now outlines and demonstrates our fast track development strategy and signifies a clear strategy and pathway for Snow Lake to production and cash flow.”

“The Snow Lake Technical group has a very strong relationship with both past and present Tanco Mine staff. Some of these relationships span over 20 year. We hope that this partnership will benefited both Snow Lake Resources and Tanco Mining Corporation of Canada Limited and the communities of the Town of Snow Lake, Winnipeg and surrounds.”

ON BEHALF OF THE BOARD

Signed “Derek Knight”

Derek Knight

CEO

For further information, please contact:

Derek Knight

Derek@SnowLakeResources.com

Forward-Looking Statements and disclaimers:

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. Snow Lake notes that any meetings or considerations in regard to any potential transactions are preliminary and there is no certainty that any binding agreement will be reached. The Company will update shareholders upon any further developments in this regard.

Thompson Brothers Lithium Project Update #3

Thompson Brothers Lithium Project Update #3 150 150 Snow Lake Resources

Suite 2905, 77 King St W, Toronto, ON M5K 1A2

Highlights

  • Option completed, making Snow Lake Resources the 100% owner of the Thompson Brothers Lithium property (subject to a 2% NSR).
  • Non-Offering Prospectus review in progress for the CSE listing.

July 01, 2019, TORONTO, ONT. – SNOW LAKE RESOURCES LTD. (“Snow Lake”, “SNOW” or the “Company”) is pleased to report that all the requirements of the option agreements have been met, and the Thompson Brothers Lithium claims have been registered in the name of Snow Lake Resources, and it’s wholly owned subsidiary Manitoba Minerals PTY ltd.

On April 12 of 2019, the final payment required in shares and cash was made to complete the purchase of the 80% option and the additional 20% options on the Thompson Brothers Lithium property:

  • Claims have been registered 80% in the name of Manitoba Minerals PTY Ltd, (a wholly owned subsidiary of Snow Lake Resources), and 20% in Snow Lake Resources name.
  • The assay results from core samples taken of host rocks that occur on either side of the main pegmatite contact indicate an enrichment of Lithium. Some of the host rock Lithium enrichment approaches sub-economic levels. Additional sampling of host rock adjacent to the pegmatite contacts that was not sampled (and occasional inclusions within the pegmatite) has been recommended by CanMine to update the existing database.
  • CanMine recommends testing for Tantalum and Cesium which, if present in significant concentrations, could affect future resource estimations.
  • A detailed survey of the existing drill hole collar locations by a professional surveyor is also required before the resource estimation can advance.

Advisory Team

The company is pleased to announce the formation of a Technical Advisory Team, which is highly credentialed in the exploration, development, and production of Lithium.  The first member of the team is Mr. Carey Galeschuk. Mr. Galeschuk brings a varied back ground on pegmatite geology with valuable experienced gained during his 12 year engagement at the Cabot, Tanco Mine located in South East Manitoba. The Tanco Mine is a pegmatite that has been mined since 1968 and has produced

spodumene, cesium and tantalum at various times through its mine life. Sinomine Rare Metals of Beijing

has acquired the Tanco mine as part of the purchase of Cabot Corps specialty fluid division in February of 2019. Spodumene is a lithium rich mineral that can be processed to produce a lithium product and is abundant in the TBL pegmatites.

Carey Galeschuk – is a professional geoscientist with over thirty years in mineral exploration, specializing in project management and business development. Within that time he spent 12 years engaged in mineral exploration in the Tanco Mine district in the pursuit of Li-Cs-Ta Pegmatites. He currently works for numerous companies across Canada in a number of positions spanning various geological settings and a wide spectrum of commodities. Presently Mr. Galeschuk client base includes companies actively exploring for/or developing lithium bearing pegmatite projects within the Province on Manitoba. He is a geology graduate of the University of Saskatchewan (1988).

The Snow Lake IPO process is advancing with the company working on satisfying the regulatory obligations enabling the IPO process to be finalised in the near future.

All of Snow Lake Resources’ exploration programs and pertinent disclosure of a scientific nature are prepared and/or designed and carried out under the supervision of Mr. Dale Schultz, P.Geo. and COO, who serves as the qualified person (QP).

Mr. Frank Hardy, P.Geo., of Canmine Consultants (www.canminx.ca) will serve as an independent qualified person (QP) for the resource estimation.

ON BEHALF OF THE BOARD

Signed “Derek Knight”

Derek Knight

CEO

For further information, please contact:

Derek Knight

Derek@SnowLakeResources.com

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.

Thompson Brothers Lithium Project Update #2

Thompson Brothers Lithium Project Update #2 150 150 Snow Lake Resources

THOMPSON BROTHERS LITHIUM PROJECT UPDATE

Highlights

  • Internal scoping assessment confirms opportunity for fast track project development
  • Engagement of Canmine Consultants as Independent Resource Consultant
  • Formation of Technical Advisory Team
  • Snow Lake CSE IPO progressing in conjunction with internal studies

MARCH 26, 2019, TORONTO, ONT. – SNOW LAKE RESOURCES LTD. (“Snow Lake”, “SNOW” or the “Company”) is pleased to report on the outcome of analysis undertaken on the Thompson Brothers Lithium Project in Manitoba by Canmine Consultants of Vancouver and provide an operational update.

In January of 2019 Snow Lake Resources Ltd. engaged Canmine Consultants to prepare an internal scoping review and advise the Company on what steps need to be taken to complete a resource estimate that would conform to NI 43-101 reporting standards for the Thompson Brothers Lithium deposit. As part of this review, CanMine completed a site visit in mid March of 2019 to the project. The following is a summary of observations of this visit:

  • Drill core logged in 2017 (TBL-1 to TBL-6) have a number of deficiencies and was logged to a different standard than core in 2018. Snow Lake will re-log the first 6 holes using the same consultant as the 2018 campaign.
  • The assay results from core samples taken of host rocks that occur on either side of the main pegmatite contact indicate an enrichment of Lithium. Some of the host rock Lithium enrichment approaches sub-economic levels. Additional sampling of host rock adjacent to the pegmatite contacts that was not sampled (and occasional inclusions within the pegmatite) has been recommended by CanMine to update the existing database.
  • CanMine recommends testing for Tantalum and Cesium which, if present in significant concentrations, could affect future resource estimations.
  • A detailed survey of the existing drill hole collar locations by a professional surveyor is also required before the resource estimation can advance.

Advisory Team

The company is pleased to announce the formation of a Technical Advisory Team, which is highly credentialed in the exploration, development, and production of Lithium.  The first member of the team is Mr. Carey Galeschuk. Mr. Galeschuk brings a varied back ground on pegmatite geology with valuable experienced gained during his 12 year engagement at the Cabot, Tanco Mine located in South East Manitoba. The Tanco Mine is a pegmatite that has been mined since 1968 and has produced

spodumene, cesium and tantalum at various times through its mine life. Sinomine Rare Metals of Beijing

has acquired the Tanco mine as part of the purchase of Cabot Corps specialty fluid division in February of 2019. Spodumene is a lithium rich mineral that can be processed to produce a lithium product and is abundant in the TBL pegmatites.

Carey Galeschuk – is a professional geoscientist with over thirty years in mineral exploration, specializing in project management and business development. Within that time he spent 12 years engaged in mineral exploration in the Tanco Mine district in the pursuit of Li-Cs-Ta Pegmatites. He currently works for numerous companies across Canada in a number of positions spanning various geological settings and a wide spectrum of commodities. Presently Mr. Galeschuk client base includes companies actively exploring for/or developing lithium bearing pegmatite projects within the Province on Manitoba. He is a geology graduate of the University of Saskatchewan (1988).

The Snow Lake IPO process is advancing with the company working on satisfying the regulatory obligations enabling the IPO process to be finalised in the near future.

All of Snow Lake Resources’ exploration programs and pertinent disclosure of a scientific nature are prepared and/or designed and carried out under the supervision of Mr. Dale Schultz, P.Geo. and COO, who serves as the qualified person (QP).

Mr. Frank Hardy, P.Geo., of Canmine Consultants (www.canminx.ca) will serve as an independent qualified person (QP) for the resource estimation.

ON BEHALF OF THE BOARD

Signed “Derek Knight”

Derek Knight

CEO

For further information, please contact:

Derek Knight

Derek@SnowLakeResources.com

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.

Thompson Brothers Lithium Project Update

Thompson Brothers Lithium Project Update 150 150 Snow Lake Resources

Suite 2905, 77 King St W, Toronto, ON M5K 1A2

THOMPSON BROTHERS LITHIUM PROJECT UPDATE

Highlights

  • Snow Lake appoints Alastair McIntyre as Executive Director, bringing to the Board significant expertise in global metals and mining.
  • 2018 Flow Through Capital Raise completed
  • Thompson Brothers Lithium Project update

JANUARY 13, 2019, TORONTO, ONT. – SNOW LAKE RESOURCES LTD.  (“Snow Lake”, “SNOW” or the “Company”) is pleased to announce the appointment of Mr. Alastair McIntyre P.Geo (Limited), MAusIMM CP (Man) to serve as an executive director and provide a corporate update.

Mr. Alastair McIntyre brings to the team more than 30 years’ global metals and mining experience including commodity banking primarily with Scotiabank in Toronto, New York, Sydney and Hong Kong, combined with an initial technical career in exploration and underground mine geology. Prior to banking, Mr. McIntyre was the gold refinery Manager at Royal Canadian Mint. Most recently, he worked for a leading advisory firm where he managed the company’s Asian technical and financial businesses in Hong Kong and Toronto, primarily assisting M&A, IPO’s and bank financing.

Throughout his career, Mr. McIntyre has executed hundreds of structured deals in multiple currencies, metals, and products for precious and base metal producers and consumers in North and South America, Africa, Australia and Asia. His global contact base of miners, investors, central banks, commercial banks, producers, smelters, streamers, consumers, corporates and refiners will help SNL expand its global reach. Mr. McIntyre has numerous credentials from the HKSI and CSI, detailed knowledge of compliant reporting such as NI 43-101, JORC and VALMIN/CIMVAL Codes in addition to holding Chartered Professional status – MAusIMM CP (Man) and P. Geo (Limited) accreditation. Alastair is a graduate of Dalhousie University in Halifax, Nova Scotia earning a B.Sc (Geology) and a B.Comm (Administration and Economics).

Snow Lake is also pleased to announce a non-brokered Flow Through financing to raise gross proceeds of up to $250,000 (the “Offering”). This was despite very challenging financial market conditions during the required date to close by December 2018. The Offering consists of up to 714,285 flow through units (“FT Units”) of the Corporation on a non-brokered basis (the “Offering”) at a price of $0.35 per FT Unit. Each FT Unit is comprised of one Class A common share (“FT Share”) issued on a flow-through basis and one-half of one Class A common share purchase warrant (a “Warrant”). Each whole Warrant entitling the holder thereof to acquire one Class A common share of the Corporation upon the payment of $0.45 per Class A common share at any time until the earlier of (i) 24 months from the completion of a Liquidity Transaction (as hereinafter defined) and (ii) 60 months from the date of issuance of the FT Warrants.

Together with the seed raise, the Company is well capitalised and intends to use the net proceeds from the Offering to fund the Company’s current exploration activities on its Thompson Brothers Lithium Project located in Manitoba.

In light of the current volatile financial market environment and while maintaining its fast-tracked development strategy, the board and executive team has decided that it is in the best interest of the company to proceed with the commencement of a scoping study on the current 6.3m tonnes @ 1.38% Li2O containing 86,940 tonnes of Li2O JORC resource together with an additional reduced step out drill campaign with anticipated start date in the near term. This new drilling and scoping study will lead to a better technical and financial understanding of the project and the completion of a NI 43-101 resource statement. In addition, to assist with the commencement of a Preliminary Economic Assessment (PEA) in the near term. Concurrently, the Company intends to simultaneously work on environmental studies and other ongoing time critical work.

The Snow Lake IPO process is fast advancing it’s final stages with the company working on the prospectus and regulatory obligations, with sufficient funds raised to date enabling the IPO process to be finalised.

CEO, Derek Knight, comments, “We are pleased to announce the appointment of Mr. Alastair McIntyre to our team. Mr. McIntyre brings extensive experience in capital markets, mine financing and business development. His broad business experience and extensive network globally, combined with the business insights he will bring further strengthens Snow Lake’s Board as the company moves to the next phase to deliver maximum value from our Lithium asset.”

“While upholding prudent cash management in the current financial market environment, we maintain our accelerated strategy by taking a different approach in the projects development by feasibly working towards a step out drill campaign and onto a PEA. We are confident that we have a solid basis to inspire confidence in prospective investors and project partners. We remain committed while prudent with cash to progress the Thompson Brothers lithium project as rapidly as practical.”

ON BEHALF OF THE BOARD

Signed “Derek Knight”

Derek Knight

CEO

For further information, please contact:

Derek Knight

Derek@SnowLakeResources.com

Forward-Looking Statements:

Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Progressive Planet Solutions Inc. Actual results may differ materially from those currently anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.