Snow Lake Resources Announces Price of Common Share Offering by Nova Minerals – Form 6-K

Snow Lake Resources Announces Pricing of Common Share Offering by Nova Minerals

MANITOBA, CAN, April 7, 2022-(BUSINESS WIRE)-Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. (Nasdaq: LITM) (“Snow Lake” or the “Company”) today announced the price of a subscribed block transaction of 3,000,000 common shares of the Company (“Common Shares”) at a price public offering of $6.00 per share by its shareholder Nova Minerals Ltd. (the “Nova Minerals”), resulting in aggregate gross proceeds to Nova Minerals of $18,000,000 (the “Offer”). Snow Lake will not receive any proceeds from the sale of the common shares by Nova Minerals. The offering is expected to close on April 12, 2022, subject to customary closing conditions.

Following the closing of the Offering, Nova Minerals will hold 6,600,000 common shares of the Company, representing approximately 37% of the total outstanding common shares of the Company. As part of the offer, Nova Minerals has agreed to lock up its remaining shares until March 21, 2023. The extension of the underwriter’s lock-up for Nova’s remaining 37% stake in Snow Lake underscores Nova Mineral’s confidence and its long-term commitment to Snow Lake as it pursues its vision of becoming a major lithium supplier in North America.

ThinkEquity is acting as sole bookrunner for the offering.

A registration statement on Form F-1 (File No. 333-264098) relating to the shares has been filed with the Securities and Exchange Commission (“SEC”) effective April 7, 2022. This offering is made only through a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at prospectus@think- equity.com. The final prospectus will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. prior to registration or qualification. under the securities laws of such state or territory.

About Snow Lake Lithium Ltd.

Snow Lake is committed to operating a fully renewable and sustainable lithium mine that can provide a fully traceable, carbon neutral and safe product for the electric vehicle and battery market. We not only aspire to set the standard for responsible lithium battery manufacturing, but we aim to be the first lithium producer in the world to achieve Certified B Corporation status in the process. The 100% owned Thompson Brothers Lithium Project covers a 55,318 acre site that has only been 1% explored and contains indicated and inferred resources of 11.1 million metric tonnes at 1% Li2O.

Forward-looking statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements in this press release can be identified by the use of words such as “anticipate”, “believe”, “intend”, “could”, “estimate”, “expect”, “have the ‘intent to’, ‘seek,’ ‘may’, ‘could’, ‘plan’, ‘potential’, ‘predict’, ‘project’, ‘target’, ‘aim’, ‘should’, ‘will’, ‘ would” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Snow Lake Resources Ltd.’s current expectations and are subject to uncertainties, inherent risks and assumptions that are difficult to predict. In addition, certain forward-looking statements are based on assumptions about future events that may not prove to be accurate. These and other risks and uncertainties are described in more detail in the section entitled “Risk Factors” of the final prospectus relating to the public offer e filed with the Securities and Exchange Commission. The forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. assumes no obligation to update this information, except as required by applicable law.

Contact: ir@snowlakelithium.com

www.SnowLakeLithium.com

twitter: @SnowLakeLithium

THE SOURCE: Snow Lake Resources Ltd.