Resolution Minerals has announced the receipt of an unsolicited A$225m ($164.8m) offer from Snow Lake Resources for its recently acquired Horse Heaven antimony-tungsten-gold-silver project.

The proposal, received on 2 August 2025, includes a combination of cash and Snow Lake Resources shares, with the ratio to be determined at a later date.

The acquisition offer from Snow Lake Resources, a NASDAQ-listed company, is indicative and non-binding.

It also includes a request for an exclusivity period to conduct due diligence and finalise the terms of the offer with Resolution Minerals.

The Board of Resolution Minerals has advised shareholders that there is no certainty the offer will lead to a binding agreement or any transaction.

Horse Heaven, a site with a rich history of antimony, tungsten and gold production, is located in Idaho, US. The project has contributed critical materials to the US during significant wartime periods.

The project is adjacent to Perpetua Resources' Stibnite Antimony & Gold Mine, which boasts a market capitalisation of approximately $3bn.

Resolution Minerals' shareholders have been informed that no action is required from them at this stage regarding the offer.

This development follows the formation in March of a joint venture (JV) between Snow Lake Energy and Global Uranium and Enrichment, aiming to acquire the Pine Ridge Uranium Project in Wyoming, US, from Stakeholder Energy.

The JV, named Powder River Basin, will be equally owned by Usuran Resources and Snow Lake Exploration and involves a payment of $22.5m in three instalments to Stakeholder Energy.

"Resolution Minerals receives A$225m offer for Horse Heaven antimony project" was originally created and published by Mining Technology, a GlobalData owned brand.

The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

View Comments