6 August 2025 – Sydney, Australia | Resolution Minerals Limited (ASX:RML) has announced that it has received an unsolicited, indicative, and non-binding offer from NASDAQ-listed Snow Lake Resources Limited (LITM.NAS) to acquire 100% of the Horse Heaven Project in Idaho, USA, for A$225 million.
The Horse Heaven Project, recently acquired by RML, has a production history supplying antimony and tungsten to the U.S. Government during WWI, WWII, and the Korean War. The Horse Heaven Project is located adjacent to Perpetua Resources’ Stibnite Antimony & Gold Mine (PPTA.NAS, ~A$3 billion market cap).
Highlights:
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Received an unsolicited, indicative, and non-binding offer from NASDAQ-listed Snow Lake Resources (LITM.NAS) to acquire the Horse Heaven Antimony-Tungsten-Gold-Silver Project for A$225 million.
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The proposal outlines the acquisition via a combination of cash and LITM shares, with the ratio to be agreed upon.
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Snow Lake has also requested a period of exclusivity to conduct due diligence and finalise negotiations with RML on the terms.
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Roth Capital Partners has been appointed as exclusive North American Capital Markets Adviser for potential NASDAQ listing or SPAC transaction.
The offer was received on 2 August 2025 and proposes a mix of cash and LITM shares, with the exact ratio to be agreed upon. Snow Lake has also requested an exclusivity period to conduct due diligence and progress negotiations.
The Board has commenced its assessment of the offer but stresses that there is no certainty the proposal will lead to a binding agreement or that any transaction will proceed. RML shareholders are advised that no action is required at this stage, and the Company will update the market on any material developments in line with its continuous disclosure obligations.
Resolution Minerals has appointed Roth Capital Partners, LLC as exclusive North American Capital Markets Adviser. Roth will explore U.S. listing alternatives, including a traditional NASDAQ listing or a merger via a Special Purpose Acquisition Company. Under the agreement, Roth will receive a monthly retainer, a success fee on completed transactions, and 10 million unquoted options exercisable at $0.0912 (a 20% premium to RML’s closing price before execution), expiring three years from issuance.
Aharon Zaetz
Executive Director
Resolution Minerals Ltd
[email protected]
Jane Morgan
Investor & Media Relations Manager
[email protected]
Website: www.resolutionminerals.com
LinkedIn: @Resolution Minerals
X: @Resolution_LTD
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations Manager
[email protected]
