Snow Lake Resources Ltd. provided a brief overview of uranium mining in Namibia. Uranium Mining in Namibia . Uranium was first discovered in the Namib Desert in 1928, however it was not until Rio Tinto acquired exploration rights in the 1960's that a number of low-grade ore bodies were discovered along the north side of the Khan valley.

The Rossing Mine was opened in 1976 and following a global increase in the demand for uranium for nuclear energy production during the 1960's and 1970's, additional uranium deposit were identified in the Namib Desert. As uranium prices slowly declined during the subsequent decades, no new uranium mines were opened. In the new millennium, uranium prices began to increase and as they reached all-time highs, the Langer Heinrich Mine started production in 2006.

The Geological Survey of Namibia conducted a high-resolution airborne survey, and exploration expanded in the Erongo Region, resulting in the discovery of the Husab ore body in 2008, a world-class uranium deposit. The Husab Mine began commercial production in 2016. Namibia is a premier operational uranium jurisdiction with a 45-year history of safe uranium production and export.

It possesses excellent utilities, transport and export infrastructure as well as established support for uranium mining from both the Namibian Government and local communities. Namibia enjoys a combination of political stability, security, a strong rule of law and an assertive development agenda. In 2023, mining contributed approximately 12% of Namibia's GDP and employs approximately 16,000 people.

Namibia is ranked as the 6th highest African mining jurisdiction for mining investment according to the Fraser Institute's 2022 annual survey, and was the world's third-largest producer of uranium, accounting for 11% of global production, in 2022. The Husab Uranium Mine and the Rossing Mine are currently the only operating uranium mines in Namibia, with 5 major uranium mines currently in development. The Engo Valley: The Engo Valley, situated on the Skeleton Coast in northwest Namibia, is a large, under-explored area with the potential for economic deposits of uranium.

The last exploration work conducted in the Engo Valley was by Gencor in the 1970's and their work confirmed the existence of uranium mineralization in the Engo Valley. Snow Lake and the Engo Valley: Snow Lake is acquiring an effective 85% interest in EPL-5887, which covers an area of 69,530 hectares in the Engo Valley, and which also covers the areas of historic exploration work conducted by Gencor. Snow Lake is currently in the process of designing a comprehensive exploration and development program to test the potential of the Engo Valley for economic deposits of uranium mineralization.