Snow Lake Resources Ltd. (LITM) Prices 3.2M Share IPO at $7.50/sh

Snow Lake Resources Ltd. (NASDAQ: LITM), a company committed to being the first fully renewable energy powered electric mine that can deliver zero carbon battery grade lithium, today announced the pricing of its initial public offering of 3,200,000 common shares at a public offering price of $7.50 per share, for gross proceeds of $24,000,000 USD, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 480,000 common shares to cover over-allotments at the initial public offering price, less the underwriting discount. All of the common shares are being offered by the Company.

The Company intends to use the proceeds of the offering for resource development activities including additional exploratory drilling, technical studies and reports, possible strategic project acquisitions, marketing and general corporate purposes.

Snow Lake's common shares are expected to begin trading on the Nasdaq Capital Market on November 19, 2021 under the symbol "LITM." The offering is expected to close on November 23, 2021, subject to satisfaction of customary closing conditions.

ThinkEquity is acting as sole book-running manager for the offering.

A registration statement on Form F-1 (File No. 333-254755) relating to the shares was filed with the Securities and Exchange Commission ("SEC") and became effective on November 18, 2021 and a related registration statement is being filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended. This offering is being made only by means of 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 [email protected]. The final prospectus will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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