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Highlights:
- Laramide has identified multiple drill target areas within its Chu-Sarysu Project located in the Suzak District of the South Kazakhstan Oblast, Republic of Kazakhstan .
- The project areas are prospective for uranium, rare earth elements and sediment hosted copper deposits.
- The project areas are proximal to some of Kazatomprom's largest uranium deposits and operational mines, including Cameco's JV project, Inkai, and Orano's KATCO JV project, Moinkum-Tortkuduk.
- First phase of drilling will target various metals, including paleo-channel roll-fronts hosting uranium mineralisation amenable to ISR mining.
- Multi-rig, multi-contractor program is planned for a minimum of 15,000m of drilling.
Laramide Resources Ltd. ( "Laramide" or the "Company" ) (TSX: LAM,OTC:LMRXF) (ASX: LAM) (OTCQX: LMRXF), a uranium mine development and exploration company with globally significant assets in the United States and Australia is pleased to announce plans to conduct approximately 15,000m of drilling across multiple targets within its Chu-Sarysu Project in Kazakhstan.
Over the past 12 months Laramide has compiled a large dataset from Kazakhstan's state National Geological Services with assistance from local geological contractors. The plethora of historical data comprises historical mapping, drilling, geophysics (including Seismic, Electromagnetic, Magnetic and Gravity), and geochemistry. Review and assessment of this data has confirmed Laramide's view that the Project represents a target rich environment which is prospective for uranium, copper and rare earth elements.
During 2025, Laramide submitted the required exploration work plans to the Ministry of Industry and Construction and is now finalising the required remaining permits needed to proceed with drilling activities.
Laramide has selected two local drilling contractors to conduct drilling, utilising multiple rigs to achieve a minimum of 15,000m of drilling through a combination of Rotary Mud and Diamond Core drilling. Target depths range from 50m at shallowest to between 400- 550m at deepest.
This Phase 1 round of drilling will commence in Q4 with the aim to provide proof-of-concept that roll-front hosted uranium mineralisation is extensive within the basin and not constrained to the existing known large-scale operations, and also to test for other metals including copper and rare earths.
For reference, the Chu-Sarysu Project is located in the Suzak District of the South Kazakhstan Oblast, Republic of Kazakhstan (Figure 1). In 2024 Kazakhstan accounted for almost 40% 1 of global U 3 O 8 production. Among the country's five main uranium-producing basins, the Chu-Sarysu and Syr Darya basins located in the south of the country, contribute more than 75% of national output. These basins host major deposits and operational in-situ recovery (" ISR ") mines including Inkai (Cameco JV) and Moinkum-Tortkuduk (Katco JV).
Additionally, the Chu-Sarysu Basin is notable for its significant copper potential, exemplified by the massive Dzhezkazgan sediment-hosted copper deposit located in the northern region. This potential is further reinforced by the ongoing exploration efforts across large tenement packages in the basin by major companies such as Rio Tinto, Fortescue, First Quantum and Ivanhoe.
Marc Henderson , Laramide's President and CEO, comments:
"The Chu-Sarysu Basin Project represents one of the great greenfield exploration opportunities globally.
"We have found the Kazakhstan's Government to be supportive of mineral exploration with policies that encourage foreign investment and streamline permitting. This creates a favourable environment for advancing new discoveries that can ultimately contribute to the growing global demand for nuclear fuel.
"This inaugural exploration program for Laramide in Kazakhstan is targeting high-grade, large-scale uranium deposits, amenable to cost-efficient and environmentally responsible in-situ recovery (ISR) mining, and within a district that already hosts infrastructure and producing operations, which provides clear cost advantages.
"While uranium remains our primary focus, the project's copper and rare earths prospectivity adds an interesting dimension, offering additional upside potential and the possibility of attracting interest in future joint venture partnerships.
"With drilling set to begin in Q4, we are looking forward to delivering results that will demonstrate the significant potential of this world-class basin."
Option Agreement
The Chu-Sarysu Project is part of a three-year option agreement (the " Option Agreement "), with an option to extend for an additional year, to acquire shares of Aral Resources Ltd. (" Aral "), a Kazakh company registered with the Astana International Financial Center. Aral owns 22 mineral licenses covering nearly 5,500 square kilometres of the Chu-Sarysu sedimentary basin of Kazakhstan (collectively, the " Chu-Sarysu Project ").
Under the terms of the Option Agreement, Laramide has the right (the " Option ") to acquire all outstanding shares of Aral at any time during the option period, thereby obtaining full ownership of the Chu-Sarysu Project.
Throughout the Option period, Laramide is serving as the exclusive operator, assuming responsibility for all operational and exploration expenses. Each license has an initial term of up to six years, with the option for a one-time renewal for an additional five years.
This news release has been reviewed and approved by the CEO of the Company.
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| 1 | World-nuclear.org " Uranium and Nuclear Power in Kazakhstan ." World Nuclear Association , 19 June 2025, https://world-nuclear.org/information-library/country-profiles/countries-g-n/kazakhstan#:~:text=Kazakhstan%20has%2014%25%20of%20the,generating%20electricity%20and%20desalinating%20water . Accessed 12 Sept. 2025. |
Qualified/Competent Person
The information in this announcement relating to Exploration Results is based on information compiled or reviewed by Mr. Rhys Davies , a contractor to the Company. Mr. Davies is a Member of The Australasian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves', and is a "Qualified Person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects . Mr. Davies consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
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About Laramide Resources Ltd.
Laramide is focused on exploring and developing high-quality uranium assets in Tier-1 uranium jurisdictions. The company's portfolio comprises predominantly advanced uranium projects in districts with historical production or superior geological prospectivity. The assets have been carefully chosen for their size and production potential, and the two large development projects are considered to be late-stage, low-technical risk projects. As well, Laramide has expanded its pipeline with strategic exploration in Kazakhstan where the company is exploring over 5,500 km 2 of the prolific Chu-Sarysu Basin for world-class roll-front deposits which are amenable to in-situ recovery.
Forward-looking Statements and Cautionary Language
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Actual results or developments may differ materially from those in forward-looking statements. Laramide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
Since forward-looking information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, exploration and production for uranium; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of resource estimates; health, safety and environmental risks; worldwide demand for uranium; uranium price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations.
SOURCE Laramide Resources Ltd.
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