Snow Lake Energy (LITM) shares were up nearly 49% Tuesday after the company said late Monday it has secured funding to continue its 2025 exploration programs.

The company said it expects initial assay results from the Engo Valley Uranium Project's phase 1 drilling, which was designed to verify results from a 1970s exploration campaign, in January 2025.

The remaining assay results, along with downhole radiometric reports for all phase 1 drill holes, are expected in late January, it added.

A phase 2 drill program to expand phase 1 drilling is planned for early 2025, followed by a maiden SK-1300 mineral resource estimate in the first half of the year, according to the company.

Price: 0.57, Change: +0.19, Percent Change: +49.20