Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. announced the final drill results and an update and analysis following the recently completed 2022 Grass River drilling campaign. All geochemical analyses from SGS Laboratories Canada Inc. of Lakefield, Ontario (SGS Lakefield) have been received and significant intersections with the new drill results highlighted in black bold text for reference. The pegmatite geology in the Grass River area (GRP) is significantly more complex than the Thompson Brothers Lithium dyke, which was recognized early in the drill campaign.

As noted by several geologists at the core house, several intersections of coarse-grained spodumene pegmatites were logged in multiple holes within the Grass River area. Due to this level of complexity, Snow Lake engaged SGS Lakefield to assist with modeling the GRP dyke to better understand the three-dimensional (3D) composition of the subsurface area. Based on the final wireframe modeling of the pegmatite dykes at Grass River, SGS Lakefield was able to identify a minimum of three distinctive spodumene bearing pegmatite dykes.

Snow Lake's technical personnel in the field hypothesized that there could be as many as five distinctive dykes based on core and field observations. Due to this higher density of dykes within the Grass River area, Snow Lake will refer to this area as the "GRP Dykes Swarm" as the Company's drilling campaign progresses. Significant high grade Li2O intercepts continue to be produced by the GRP Dykes Swarm and to infer a compelling lithium presence beyond the resource identified from the initial scoping study.

Drill holes GRP-013 and GRP-021 both returned a 1.5-meter intercept of 3.2% Li2O while the highest recorded intercept of 3.6% Li2O was retrieved from hole GRP-018. These intercepts have been recovered from between 80 and 200 meters down hole, which suggests that Li2O levels may be rising at greater depths. A stunning interval of 16.0 meters of 2.0% Li2O, including a 1.5-meter intercept of 3.1% Li2O, was obtained by drill hole CBP-007.

This hole, which was collared on the main deposit's North-West strike extension, shows that the dyke has remarkable continuity. As the Company focuses on expanding its identified resource base within the GRP Dykes Swarm, the North-West extension will be the focus of the winter drilling program in 2023. GRP Dykes Swarm: Geology of the GRP Dykes Swarm and host rocks - The GRP dykes crosscut plutonic intrusive rocks of Monzonite composition, exhibiting medium to coarse grained Plagioclase crystals within a fine to medium grained mafic groundmass.

Albitic to potassic feldspars occur frequently within the rock. The groundmass consists of amphiboles and occasional biotite. Garnet has been observed in small clusters within rare melanocratic groundmass.

The Monzite has been subject to considerable seracitic and hematitic alteration, often resulting in destruction of the original plutonic minerals and giving the rock a "bleached" appearance. Small quartz and granitic Aplite dykes are common. The GRP Dykes Swarm appear to strike 110° and dip about 60-65o SSW.

The mineralogy of the dykes is typical for lithium bearing pegmatite dykes, and consists of potassic feldspars, quartz, muscovite and to a lesser extent biotite, tourmaline and rare garnets and very rare beryl. The lithium bearing mineral is spodumene, which varies considerably in both grain size and distribution within the dykes. Spodumene crystals can vary in size from 1 cm to more than10+ cm in size.

The GRP dykes often exhibit very large spodumene crystals, often ranging in size from 10-15 cm long. The distribution of the crystals within the dyke intersections is sporadic, with some sections containing up to 25 to 30% spodumene, and other sections that are spodumene poor to barren, suggesting multiple pulses of fluids and crystal mush from the parent granitic magma. The mineralogy and mineral zonation of the dyke(s) will be the subject of further study in the coming months.

Analytical - Half core samples are sent to SGS Lakefield for analysis. Core samples are initially crushed to a size of -12.7 mm, then fragmented to 75% passing 2mm and eventually extruded into a 250 g pulp that is pulverized to 85% passing 75 microns. Samples are sodium peroxide fused and run on ICP-AES and/or ICP- MS generating 56 element suit.