LAM.TO · 2023-07-19 12:00:00

Laramide commences 2023 Australian exploration campaign; drilling underway at Westmoreland Uranium Project

Exploration Programs

Laramide commences 2023 Australian

exploration campaign; drilling underway at

Westmoreland Uranium Project

TORONTO

July 19, 2023

/CNW/ - Laramide Resources Ltd. ("

Laramide

" or the "

Company

") (TSX:

LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce that exploration drilling has

commenced at Amphitheatre uranium prospect,

Westmoreland

Queensland

. Resource drilling will

then proceed at the nearby Long Pocket and Huarabagoo deposits. Concurrently, fieldwork on

strategic, historically known targets at the Murphy Project in Northern Territory are also underway.

Laramide is embarking on an aggressive program this year with an experienced field team to expand

Laramide's global uranium resources as well as to investigate the potential for historically reported

and strategic critical metals.

Highlights

Westmoreland Update

Exploration drilling at Amphitheatre prospect is underway;

The program includes 10 holes and is planned to validate historical drilling and extend zones

of mineralisation identified in 2021;

Resource Definition Drilling at Long Pocket to follow which will build toward a Maiden Mineral

Resource Estimation; and

Resource Extension drilling at Huarabagoo ahead of a planned global resource update;

Drilling at Huarabagoo will also target gold mineralisation observed in 2012.

Murphy Update

Ground radiometric surveys underway;

First systematic exploration of some uranium and base metal prospects in over 40 years,

following up on targets identified by BHP in the 1970's;

Laramide plans to investigate this large mineral system which has returned notable results from

historic sampling and includes significant tin, tungsten, REE, vanadium as well as copper and

gold.

Corporate

Mineral Development License (MDL) application over the

Westmoreland

deposits is

progressing;

Two new exploration lease applications with strategic opportunities for uranium and critical

minerals have been submitted in

Queensland

, contiguous to the Westmoreland Project;

Engagement of Mr. Rhys Davies (MGeol, MSc, MAIG, RPGeo, FGS).

Laramide has kicked off the 2023 field season with exploration drilling commencing at Amphitheatre

with the company planning to complete up to

4,000m

of diamond drilling across the

Westmoreland

project focused on resource definition and exploration at Long Pocket, and resource extension at

Huarabagoo.

Concurrently, ground based radiometric surveys are underway at multiple uranium prospects on the

Murphy Project, Northern Territory.

Figure 1: Laramide’s Australia tenures showing key uranium deposits and new metals prospects.

(CNW Group/Laramide Resources Ltd.)

Commenting on the proposed exploration, Laramide's President and CEO,

Marc Henderson

says,

After a late and significant wet season, it is great to see the field teams start work on what we

think will be a large and consequential exploration effort across our large land package in

Northern

Australia

A successful hiring process brings experienced staff and contractors with the long-term view to

build institutional knowledge of the project. We are pleased to have

Rhys Davies

back on board

and leading this aggressive campaign. Rhys has previously worked for Laramide during the 2006-

2009 Resource drilling campaign.

Resource definition drilling at Long Pocket will expand on the encouraging 2022 drilling results and

support resource extension drilling at Huarabagoo as we seek to grow our global resource base at

Westmoreland

We look forward to following up on the 2022 drilling ore grade intercepts at Amphitheatre, building

an understanding of mineralisation controls and assessing the potential deposit scale.

Meanwhile a systematic sampling and geophysical program of work at the Murphy Project will

refine uranium and critical metals targets for future exploration drilling."

Amphitheatre

The Amphitheatre uranium prospect is located 16km northeast of the Junnagunna uranium deposit

and expresses as a strong

400m

300m

airborne radiometric anomaly. Visible secondary uranium

minerals such as carnotite and torbernite are present at surface, hosted within the PTW4 unit of the

Westmoreland Conglomerate. Mineralisation identified in 2022 drilling appears to have a relationship

with the mafic intrusive, sharing similarities with other nearby uranium deposits, namely Redtree,

Huarabagaoo and Junnagunna which host a combined 51.9Mlb U

resource

The area was subject to historical exploration in the late 1960s and early 1970s which included

percussion drilling and diamond holes with narrow intercepts of up to 0.838% U

displaying

visible uraninite and torbernite.

Significant results (>200ppm U

) from 2022 drilling included

AMDD001 –

@ 507ppm U

from

59m

, including

@ 1072ppm (0.107%) U

Up to 10 holes for a total

1,000m

drilling have been designed to validate historical drilling and

establish the architecture of the mafic intrusive unit to understand geological controls on

mineralisation.

Figure 2:

Photo of Amphitheatre, looking east. Historical vertical shaft in foreground with torbernite-

rich spoil heaps behind. (CNW Group/Laramide Resources Ltd.)

____________________________

https://laramide.com/projects/westmoreland-uranium-project/

Tahan 1971 (BHP) – Historical Company report (CR5206)

LAM TSX Release 24 April 2023 https://bit.ly/46WXyAU

Long Pocket and Black Hills

Long Pocket is located 7km to the east of the Junnagunna Uranium deposit and 12km northeast of

Redtree (Fig.1).

Encouraged by the 2022 exploration drilling results, Laramide will follow up in the 2023 field season

with a more substantial resource definition drilling program at Long Pocket. First pass exploration

drilling is also planned for the nearby Black Hills uranium prospect.

Black Hills, located 1km to the northeast of Long Pocket, presents as a broad airborne radiometric

anomaly. Historical (QML, 1970) drilling results include 3.13 @ 0.44% U

(DDL018) and

7.77m

0.14% U

(DDL013)

which have not been followed up during Laramide's tenure.

Significant drilling results (>200ppm U

) from 2022 included

LP22DD001 –

@ 403ppm U

from surface, and

2.7m

@ 718ppm U

from

39.3m

Importantly, the results extend the envelope of known sandstone-hosted uranium mineralisation to

the northeast. Furthermore, it confirms the shallow and flat-lying nature of mineralisation.

Huarabagoo

Laramide has identified zones for potential extension to mineralisation at the Huarabagoo deposit

which will be tested with up to

1,000m

of resource extension drilling. Huarabagoo is located in the

structural corridor between Redtree and Junnagunna (Fig.1) and is currently included in the

Westmoreland

resource. The Huarabagoo deposit and Huarabagoo-Junnagunna structural corridor

is the least explored of the three main deposits at

Westmoreland

and was most recently drill tested

in 2012 with new zones of mineralisation being identified, showing scope for growth

as well as

interesting gold results (

at 6.1 g/t Au and

at 30.9 g/t Au)

The 2023 drilling campaign is being conducted entirely as a single-shift diamond program providing a

combination of NQ and HQ core. The program is expected to be fully complete by

October 2023

Murphy Project

The Murphy Project was acquired to strategically control the known geological host of the

Westmoreland

uranium deposits and is therefore prospective for uranium. However, the Murphy

Inlier also hosts numerous other mineral occurrences and deposits including tin, tungsten, copper,

REEs, vanadium as well as gold.

Concurrent with

Westmoreland

drilling, the Laramide team have commenced fieldwork at the Murphy

Project. The project area hosts numerous uranium and base metal targets some of which have not

been subject to on-ground investigation for decades. Initial work is focused on ground radiometric

surveys to refine airborne radiometric anomalies, and surface rock and soil sampling.

_____________________________

QML – CR0003649 (1970)

LAM TSX Release 24 April 2023 https://bit.ly/46WXyAU

LAM TSX Release 9 January 2013 https://bit.ly/3Y3c1r5

Figure 3:

A view of Crystal Hill (Tin/Tungsten), in the Murphy Project. (CNW Group/Laramide

Resources Ltd.)

Corporate

Mineral Development License Application

A Mineral Development License (MDL) application was submitted to the

Queensland

government in

March 2023

which secures the Westmoreland Project assets and signals Laramide's intent to

develop the project when Policy conditions allow.

_______________________________

LAM TSX Release 29 November 2022

https://bit.ly/3DhiGnU

Two New Exploration Lease

In addition to the MDL application, Laramide has applied for two mineral exploration leases (Fig. 1)

to the east and south of the Westmoreland Project. The eastern tenure is considered prospective for

Westmoreland-style uranium under cover and the southern tenement represents a continuation of the

Murphy Inlier geological belt which is host to a number of uranium, copper, tin, tungsten, vanadium

and gold prospects.

Appointment of Mr.

Rhys Davies

As part of Laramide's strategy to build its global and Australian project portfolio the company has

appointed Mr.

Rhys Davies

to lead the programs. Mr. Davies holds an MGeol (

Hons) Degree

Geology and MSc in Nuclear Decommissioning and Waste Management. He is a Member of

Australian Institute of Geoscientists (MAIG); Registered Professional Geoscientist (RPGeo) in the

field of Mineral Exploration; Fellow of the Geological Society of

London

(FGS); and Associate

Member of the Nuclear Institute.

With over 17 years' experience in Mineral Exploration and Project Management in the mineral

resources industry, Mr. Davies' career spans Australasia,

Europe

Middle East

and

North Africa

commodities including uranium, copper, cobalt, gold, tin, REEs and diamonds. In the field of

exploration for uranium, copper, and gold exploration, he is qualified to act as Qualified Person (QP)

as defined by CIM and Competent Person (CP) as defined by the JORC Code. As a previous

employee, Mr. Davies returns to Laramide bringing institutional knowledge of the

Westmoreland

and

Murphy Projects.

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 mineralisation 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 under the guidelines of the National Instrument 43-101. 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.

About Laramide Resources Ltd.:

Laramide is focused on exploring and developing high-quality uranium assets in

Australia

and

the

United States

. The company's portfolio comprises five advanced uranium projects. Each asset has

been carefully chosen for their size, production potential, and are considered late-stage, low-

technical risk projects.

The

Westmoreland

project in

Queensland, Australia

, is one of the largest uranium development

assets held by a junior mining company. This project has a PEA which describes an economically

robust, open-pit mining project with a mine-life of 13 years. Additionally, the adjacent Murphy

Project in the Northern Territory of

Australia

is a greenfield asset which Laramide strategically

acquired to control the majority of the mineralized system along the

Westmoreland

trend.

the United States

, Laramide's assets include the NRC licensed Crownpoint-Churchrock Uranium

Project, which is proposed to be developed using in-situ recovery ("ISR") production methodology.

The company also owns the La Jara Mesa project in the historic Grants mining district of

New

Mexico

and the fully permitted underground project, called

La Sal

, in Lisbon Valley,

Utah

This press release contains forward-looking statements. The actual results could differ materially

from a conclusion, forecast or projection in the forward-looking information. Certain material factors

or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected

in the forward-looking information.

SOURCE

Laramide Resources Ltd.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/July2023/19/c4019.html

%SEDAR: 00003540E

For further information:

To learn more about Laramide, please visit the Company's website at

www.laramide.com or contact: Marc Henderson, President and CEO, Toronto, Canada, +1 (416)

599 7363; Ann Baines, Director, Investor Relations, Toronto, Canada, +1 (647) 832-9904

CO: Laramide Resources Ltd.

CNW 07:30e 19-JUL-23

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