Resolution Minerals Ltd (RML or Company) (ASX: RML) has recently acquired the Horse Heaven Antimony-Tungsten-Gold-Silver Project located in Idaho, USA. With a rich history of past antimony, tungsten and gold production, Horse Heaven has supplied the U.S. Government with antimony and tungsten for its World War I, World War II and the Korean War efforts. Horse Heaven is located directly adjacent to Perpetua Resources’ Stibnite Antimony & Gold Mine (PPTA.NAS, ~A$3 billion market cap).
The Company wishes to announce that on Saturday 2 August 2025, an unsolicited, indicative and non-binding offer (“Offer”) from NASDAQ-listed Snow Lake Resources Ltd (LITM.NAS) (“Snow Lake”) to purchase the Horse Heaven Project for A$225m was received. The proposal advised that this would be done via a combination of cash and LITM shares, with the ratio to be mutually agreed at a later date. Snow Lake has also requested a period of exclusivity to conduct due diligence and finalise negotiations with RML on the terms of the Offer.
The Company is disclosing receipt of the non-binding indicative offer in advance of the Board concluding its assessment of the Offer. The Board cautions that at this time there is no guarantee that the Offer put forward by Snow Lake will result in a binding offer or that any transaction will eventuate. RML shareholders do not need to take any action in response to the Offer at this stage. RML will keep the market informed of any material developments in relation to the Offer in accordance with its continuous disclosure obligations.
The Board is consulting with its advisers.
