Laramide to Update Westmoreland Economic Study
Laramide to Update Westmoreland Economic
Study
Highlights:
Lycopodium Limited engaged to update Westmoreland Preliminary Economic
Assessment (PEA)
Westmoreland economic study update to be completed in 1H 2026
This study to reflect materially higher long-term uranium pricing and expanded resource
base
Toronto, Ontario--(Newsfile Corp. - February 26, 2026) - Laramide Resources Ltd. (TSX: LAM) (ASX:
LAM) (OTCQX: LMRXF) ("Laramide" or the "Company") a uranium mine development and exploration
company with significant projects in the United States and Australia, is pleased to announce that it has
engaged Lycopodium Limited (ASX: LYL) to update the Preliminary Economic Assessment ("PEA") for
its Westmoreland Uranium Project in Queensland, Australia.
Lycopodium, a Brisbane-based engineering firm, authored the Company's 2016 PEA for
Westmoreland
1
. That study, which demonstrated robust project economics at a uranium price of US$65
per pound U
₃
O
₈
, is now considered outdated pursuant to Securities Exchange guidance. The updated
economic study is targeted for completion in the first half of 2026.
Since 2016, uranium market fundamentals have strengthened materially, with long-term consensus
pricing well above levels used in the prior study. Over the same period, Laramide has meaningfully
expanded the Westmoreland Mineral Resource, which now comprises 48.1 million pounds U
₃
O
₈
in the
Indicated category at an average grade of 770 ppm and 17.7 million pounds U
₃
O
₈
in the Inferred
category at an average grade of 680 ppm
2
. The Company has also secured a Mining Development
Licence (MDL), representing a significantly advanced stage of tenure and project title within Queensland.
The updated PEA will reflect current uranium pricing assumptions, revised capital and operating cost
inputs, and the expanded resource base. The study is expected to evaluate potential production rates of
approximately 4 to 5 million pounds U
₃
O
₈
per annum.
Advancement of Westmoreland toward development will ultimately depend on policy clarity in
Queensland. The Company remains prepared to move expeditiously and responsibly when regulatory
conditions align.
Marc Henderson, President and CEO, commented:
"Westmoreland's economics were robust at US$65 per pound in 2016, when uranium was in a
prolonged bear market. Today's uranium market presents a fundamentally different pricing environment
as nuclear energy growth prospects re-emerge globally. Updating the study allows us to reframe the
project's economic profile based on current market conditions and a materially expanded resource
base.
"It is also worth noting, that the broader district, including our very large adjoining tenement position in the
Northern Territory remains underexplored. Our 2026 exploration program – to be carried out in the latter
half of the year – will be designed to focus on this district potential in order to showcase that
Westmoreland remains one of a few large scale, late stage, low technical risk, uranium development
projects available to fill a growing future supply gap."
Rhys Davies, Vice President Exploration, added:
"The resource growth potential around Westmoreland is significant. Beyond the known deposits, multiple
satellite prospects exhibit geological characteristics consistent with Westmoreland-style mineralization.
The addition of hyperspectral data has materially expanded our target pipeline. We believe the district
remains materially underexplored."
This news release has been reviewed and approved on behalf of the Laramide Board by the Chief
Executive Officer of the Company.
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
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.
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.
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.
1
21 April 2016 Laramide Resources Announces Positive Results from the Updated PEA on the Westmoreland Uranium Project, Australia - Laramide
Resources Ltd.
2
15 April 2025 ASX Release: Laramide Announces Filing of NI43-101 Technical Report for increased Mineral Resource Estimate at Westmoreland
Uranium Project
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