Laramide's 2024 Drill Program Continues to Return Strong Results at the Westmoreland Project in Queensland, Australia, including Notable Gold Mineralisation

Highlights:

  • Results continue to demonstrate the potential to link the Huarabagoo and Junnagunna uranium deposits
    • HJ24DD017 – 25.00m @ 393.64 ppm (0.04%) U 3 O 8 from 15.00m ,
      • including 1.00m @ 1,015.29 ppm (0.10%) U 3 O 8 from 28.00m
      • and 1.00m @ 2,128.46 ppm (0.21%) U 3 O 8 from 34.00m
    • HJ24DD019 – 6.00m @ 1,177.43 ppm (0.12%) U 3 O 8 from 87.00m ,
      • including 4.00m @ 1,520.58 ppm (0.15%) U 3 O 8 from 89.00m
  • Uranium mineralisation at Huarabagoo continues to deliver impressive results including:
    • HB24DD010 – 15.60m @ 2,237.03 ppm (0.22%) U 3 O 8 and 0.53 g/t Au from 68.40m ,
      • including 1.00m @ 2,264.06 ppm (0.23%) U 3 O 8 and 0.23 g/t Au from 70.00m
      • and 7.00m @ 4311.16 ppm (0.43%) U 3 O 8 and 0.10 g/t Au from 76.00m
      • with highest intercept result of 1.00m @ 1.42% U 3 O 8 and 0.01 g/t Au from 80.00m
  • Broad zones of gold mineralisation were also intercepted with grades up to 24.2g/t Au
    • HB24DD008 – 19.00m @ 620.58 ppm (0.06%) U 3 O 8 and 1.95 g/t Au from 48.00m ,
      • including 2.00m @ 1,720.45 ppm (0.17%) U 3 O 8 and 1.64 g/t Au from 57.00m
      • and 2.00m @ 2,202.16 ppm (0.22%) U 3 O 8 and 12.39 g/t Au from 64.00m
      • with highest intercept result of 1.00m @ 2,299.44 ppm (0.22%) U 3 O 8 and 24.20g/t Au from 65.00m
    • HB24DD006 – 8.00m @ 1,449.86 ppm (0.14%) U 3 O 8 & 0.22 g/t Au from 36.00m ,
      • including 1.70m @ 6,208.83 ppm (0.62%) U 3 O 8 & 0.78 g/t Au from 37.60m .
  • New Exploration Permit (EPM 28807) granted adjacent to Westmoreland Project adding 327km 2 of highly prospective tenure in NW Queensland

Laramide Resources Ltd. ( "Laramide" or the "Company" ) (TSX: LAM) (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 another batch of assay results from the 2024 drilling campaign completed at the Westmoreland Uranium Project in Queensland, Australia ( "Westmoreland" ) and the receipt of a permit for exploration for a large land package immediately east of and adjacent to the current Westmoreland land tenure.

Results for 6 holes of 17 holes from infill drilling at Huarabagoo and for 11 holes of 27 holes drilled in the zone between the Huarabagoo and Junnagunna deposits have been received. The results demonstrate that uranium mineralisation is continuous along strike and potentially joins the two deposits. Furthermore, there is a significant gold endowment within the mineralising system.

Commenting on the results, Laramide's Vice-President of Exploration Rhys Davies said:

"The uranium and gold grades at Huarabagoo are consistently impressive. As we continue to gather more data relating to gold in the system, it is becoming clear that historical exploration work did not include assaying for gold, which has left significant gaps in the data, and presents a meaningful opportunity to enhance the project economics of these deposits.

"Furthermore, the shallow and broad zones of mineralisation observed in the Huarabagoo-Junnagunna link zone highlight the considerable potential for expanding the uranium mineral resources."

Drilling across the broader Westmoreland Project was completed on the 4th of November and comprised 106 holes (includes 60 RC and 46 DD) for 11,263 meters, across multiple targets. Core processing continues, with announcements on assay results expected to continue into Q1 2025.

An updated Westmoreland Mineral Resource Estimate, which will include all results and include a Maiden Resource Estimate for Long Pocket, remains on track for early 2025.

Huarabagoo

The Huarabagoo deposit is located in the structural corridor between Redtree and Junnagunna and is included in the restated 2016 Westmoreland Mineral Resource Estimate 1 . Seventeen diamond drill holes for a total of 1,827.16m , were completed in 2024. Laramide designed this program to test the extents of modelled mineralisation for both uranium and also for the gold associated with the intrusive dolerite dyke.

Significant results from the 2024 drilling confirm that both uranium and gold mineralisation are within and peripheral to the dyke margins (Figure 1) and along fault extensions, with multiple zones intersecting a similarly variable hematite-silicate-sericite altered sandstone.

Full Drill Collar details can be found here by clicking this link.

Huarabagoo-Junnagunna Link Zone

Drilling in the Huarabagoo-Junnagunna structural corridor is designed to test the mineralisation continuity between the two deposits with the intent to further increase the overall size of the resource. The program drill tested a system analogous to the Redtree Dyke system, and comprised of 21 RC holes for 3,096m , and 8 diamond drillholes for 1,124.10m , totaling 29 holes for 4,220.10m . The program was designed with three phases starting with an initial RC component (HJ24RC001 to HJ24RC013) to target the spatial extents for the Dolerite Dyke. The subsequent phases consisted of step out diamond drilling (HJ24DD014-HJ24DD021) to obtain structural measurements and establish structural controls and orientation of mineralisation the dolerite dyke system and fault zone extensions. The final phase consisted of RC drilling (HJ24RC014-HJ24RC021) to follow up on substantial downhole gamma results from earlier in the campaign.

NEW EXPLORATION PERMIT GRANTED

EPM28807 has recently been granted, adding 327 km 2 (32,700 hectares) to the exploration portfolio in northwest Queensland . This tenement is adjacent to and surrounding EPM14558 which contains the Westmoreland Project, increasing and securing our foothold in the region to grow our pipeline of exploration targets and resources. The permit hosts 7 known uranium occurrences and one gold occurrence and presents a substantial exploration opportunity with significant areas of prospective Westmoreland Conglomerate outcropping and under cover.

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.

To learn more about Laramide, please visit the Company's website at www.laramide.com

Follow us on Twitter @LaramideRes

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, 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 the management of the Company expect, 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 addresses 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.

Table 1: Significant intercepts >100ppm U 3 O 8

Hole number

From

To

Length (m)

U 3 0 8 ppm

Au g/t

HB24DD005

47

50

3

371.49

0.18

HB24DD005

55.4

63

7.6

162.71

0.03

HB24DD005

70

74

4

150.17

0.01

HB24DD005

103

111

8

102.27

0.01

HB24DD006

30

33

3

307.07

0.15

HB24DD006

36

44

8

1449.86

0.22

including

37.3

39

1.7

6208.83

0.78

HB24DD006

79

80

1

155.06

0.02

HB24DD007

60

76

16

2151.24

0.01

including

60

72

12

2816.22

0.01

HB24DD007

80

82

2

192.50

0.03

HB24DD007

86

87

1

121.46

0.01

HB24DD008

33

34

1

101.88

0.01

HB24DD008

40

42

2

222.28

0.02

HB24DD008

48

67

19

620.58

1.95

including

57

59

2

1720.45

1.64

and

64

66

2

2202.16

12.39

HB24DD008

73

74

1

190.44

0.23

HB24DD008

81

84

3

487.72

0.03

including

83

84

1

1084.86

0.04

HB24DD009

58

62

4

236.11

0.04

HB24DD009

76

77

1

116.27

0.01

HB24DD009

78

79

1

153.30

0.01

HB24DD010

15

17

2

574.86

0.15

including

15

16

1

1007.04

0.25

HB24DD010

33

41.3

8.3

336.50

0.08

including

40

41.3

1.3

1379.66

0.35

HB24DD010

44

47

3

1339.85

1.18

including

44

45.65

1.65

2191.03

0.96

HB24DD010

53.25

62

8.75

1115.03

1.44

including

53.25

56.1

2.85

2785.70

0.22

HB24DD010

68.4

84

15.6

2237.03

0.53

including

70

71

1

2264.06

0.23

and

76

83

7

4311.16

0.10

with #

80

81

1

1.42 %

0.01

HB24DD010

88

89

1

131.48

0.01

HJ24DD014

25.55

27

1.45

180.42

0.01

HJ24DD014

79

80

1

310.13

0.01

HJ24DD014

125

126

1

113.20

0.02

HJ24DD015

95

96

1

321.92

0.40

HJ24DD015

101

103

2

191.03

0.10

HJ24DD015

133

135

2

1229.32

0.02

including

133

135

2

1229.32

0.02

HJ24DD016

69.35

73

3.65

772.12

0.12

including

69.35

70.15

0.8

1285.33

0.15

and

71

72

1

1044.77

0.14

HJ24DD016

76

87

11

229.76

0.02

HJ24DD016

104.4

106

1.6

130.89

0.01

HJ24DD017

15

40

25

393.64

0.01

including

28

29

1

1015.29

0.01

and

34

35

1

2128.46

0.01

HJ24DD017

48

49

1

128.53

0.01

HJ24DD017

51

52

1

142.68

0.01

HJ24DD017

68

69

1

114.85

0.01

HJ24DD017

72

78

6

161.69

0.01

HJ24DD018

21

22

1

277.11

0.01

HJ24DD018

29

32

3

477.18

0.01

HJ24DD018

106

115

9

770.03

0.05

including

111

113

2

2953.90

0.18

HJ24DD019

87

93

6

1177.43

0.04

including

89

93

4

1520.58

0.01

HJ24DD020

70

71

1

199.87

0.01

HJ24DD020

95.55

100

4.45

163.33

0.01

HJ24DD020

104

108

4

196.04

0.01

HJ24DD020

113

114

1

178.65

0.01

HJ24DD020

119

120

1

203.41

0.01

HJ24RC016

35

40

5

176.13

0.01

HJ24RC016

43

44

1

114.62

0.01

HJ24RC016

48

51

3

195.16

0.01

HJ24RC016

62

63

1

109.90

0.01

HJ24RC017

22

23

1

120.87

0.01

HJ24RC018

No significant intercepts to report

HJ24RC019

14

19

5

166.08

0.01

* Included intercepts are above >1000 ppm U 3 O 8

# intercept is above >1% U 3 O 8

Table 2: Significant intercepts >0.1 g/t Au

Hole number

From

To

Length (m)

U 3 0 8 ppm

Au g/t

HB24DD005

47

47.7

0.7

233.48

0.51

HB24DD005

48.85

50

1.15

749.97

0.13

HB24DD005

55.4

56

0.6

244.09

0.10

HB24DD006

32

33

1

274.75

0.35

HB24DD006

37.3

39

1.7

6208.83

0.78

HB24DD006

43

44

1

341.97

0.21

HB24DD006

82

83

1

38.68

0.48

HB24DD006

86

87

1

58.25

0.43

HB24DD007

21

22

1

17.92

0.36

HB24DD008

48

51

3

343.34

0.46

HB24DD008

57

60.15

3.15

1220.21

1.10

including

57

58

1

2185.06

2.89

with

57.6

58

0.4

3631.94

5.96

HB24DD008

64

71

7

781.46

4.60

including

64

67

3

1733.42

10.60

with #

65

66

1

2299.44

24.2

HB24DD008

73

74

1

190.44

0.23

HB24DD008

79

80

1

30.66

0.10

HB24DD010

15

16

1

1007.04

0.25

HB24DD010

40

41.3

1.3

1379.66

0.35

HB24DD010

44

62

18

778.72

1.34

including

44

47

3

1339.85

1.18

with

52

53.25

1.25

54.01

5.51

including

56.1

60

3.9

259.61

2.92

with

56.1

58

1.9

139.39

5.41

HB24DD010

70

71

1

2264.06

0.23

HB24DD010

73

77

4

855.21

1.97

including

74

77

3

1053.42

2.54

with

74

76

2

545.38

3.54

HJ24DD016

69.35

72

2.65

974.04

0.14

HJ24DD018

111

113

2

2953.90

0.18

HJ24DD019

43

44

1

4.36

0.41

HJ24DD019

88

89

1

841.95

0.15

HJ24RC019

108

109

1

45.75

0.21

* Included intercepts are above >0.5g/t Au; with intercepts above >1g/t Au

# I ntercepts exceed 20 g/t Au

SOURCE Laramide Resources Ltd.

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