LAM.TO · 2024-10-22 12:00:00

Laramide's Drilling at Westmoreland Uranium Project Continues to Demonstrate Scope for Resource Growth

Exploration Programs

Laramide's Drilling at Westmoreland Uranium

Project Continues to Demonstrate Scope for

Resource Growth

TORONTO

Oct. 22, 2024

/CNW/ -

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 more

assay results from the 2024 drilling activities at the Westmoreland Uranium Project in Queensland,

Australia (

"Westmoreland"

Figure 1. Cross section 204150E looking west (window +/-50m), showing mineralisation wireframes

(solid yellow lines) and interpreted mineralisation. Refer Figure 2 for Plan view. (CNW

Group/Laramide Resources Ltd.)

Assays have now been received from the remaining 32 RC drill holes at Long Pocket, with 29 of

these holes mineralized. (Table 2) Long Pocket drilling has demonstrated that uranium mineralisation

is laterally continuous with drillhole collar spacing now generally less than

50m

which lends to a high

level of confidence. Mineralisation remains open and untested in a southerly direction (Figure 2).

Zones of higher-grade uranium intercepted within the broader coherent mineralised envelope include:

LP24RC008 –

16.00m

@ 485.61 ppm U

from

16.00m

depth, including

4.00 m

@ 1,264

ppm

from

21.00 m

LP24RC009 –

8.00m

@ 490.59 ppm U

from

16.00m

, including

1.00 m

@ 1,545 ppm

from

20.00 m

LP24RC016 –

4.00m

@ 2022.03 ppm U

from

8.00m

, including

3.00 m

@ 2,639 ppm

from

9.00m

Commenting on the results, Laramide's Vice-President of Exploration,

Rhys Davies

said:

"Results from infill drilling at Long Pocket demonstrate the quality of this satellite deposit with good

uranium grade at very shallow depths and supports Laramide's focused attention on enhancing

Westmoreland's

resources towards improving the economics of a future mine plan. The deposit

also remains open and untested to the south.

"We look forward to updating investors as we incorporate these results into a Maiden Resource

Estimation of the deposit in Q1 2025."

Drilling across the broader Westmoreland Project is ongoing with the final few holes of the campaign

due to be completed in the next two weeks. The 2024 drilling campaign has comprised over 100

holes across multiple targets, core processing is continuing, and assay results will be delivered with

regularity throughout Q4 2024.

Long Pocket Uranium Deposit

Long Pocket is a satellite deposit located 7 km to the east of the Westmoreland Project. Thirty-eight

infill RC drill holes, for a total of

2,139m

, were recently completed in 2024.

Results from the 2024 drilling confirms shallow (<

50m

depth), flat-lying, continuous mineralisation

(Figure 1) with multiple zones intersecting a similar highly altered hematitic sandstone of medium to

coarsely grained and poorly sorted texture, located peripheral to a dyke/sill margin.

The central part of this deposit is now well understood with hole spacing now less than

50m

places. Results from this drilling program will be incorporated into a Maiden Resource Estimation of

the deposit in Q1 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.

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

www.laramide.com

About Laramide Resources Ltd.

Laramide is focused on exploring and developing high-quality uranium assets in Tier-1 uranium

jurisdictions of

Australia

and

United States

. 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 projects

are considered to be late-stage, low-technical risk projects.

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 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 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.

Table 1: Drill Collar Details

Prospect

Hole ID

GDA_Easting

GDA_Northing

RL (m)

Depth (m)

Grid Azi

Dip

Hole type

Drilling started

Drilling completed

AMPHITHEATRE

AMD008

209879

8074908

241.6

-60

01/07/2024

09/07/2024

AMPHITHEATRE

AMD009

209928

8074816

202.9

270

-80

10/07/2024

15/07/2024

AMPHITHEATRE

AMD010

209954

8074725

203.4

-60

15/07/2024

26/07/2024

AMPHITHEATRE

AMD011

209958

8074620

200.3

-60

26/07/2024

02/08/2024

AMPHITHEATRE

AMD012

209928

8074820

84.5

-55

03/08/2024

05/08/2024

LONGPOCKET

LP24RC001

204362

8065063

-90

01/08/2024

LONGPOCKET

LP24RC002

204312

8065113

-90

02/08/2024

08/08/2024

LONGPOCKET

LP24RC003

204262

8065063

-90

03/08/2024

LONGPOCKET

LP24RC004

204212

8065063

-90

03/08/2024

LONGPOCKET

LP24RC005

204168

8065127

-90

03/08/2024

LONGPOCKET

LP24RC006

204122

8065007

-90

04/08/2024

LONGPOCKET

LP24RC007

204092

8064933

180

-60

04/08/2024

LONGPOCKET

LP24RC008

204192

8064940

100

180

-60

04/08/2024

LONGPOCKET

LP24RC009

204187

8065025

-90

04/08/2024

05/08/2024

LONGPOCKET

LP24RC010

204079

8065059

-90

05/08/2024

LONGPOCKET

LP24RC011

204109

8065106

-90

05/08/2024

LONGPOCKET

LP24RC012

204072

8065117

-90

05/08/2024

06/08/2024

LONGPOCKET

LP24RC013

204078

8065160

-90

06/08/2024

LONGPOCKET

LP24RC014

203524

8065406

-90

06/08/2024

LONGPOCKET

LP24RC015

203615

8065322

-90

07/08/2024

LONGPOCKET

LP24RC016

203715

8065262

-90

07/08/2024

LONGPOCKET

LP24RC017

203715

8065362

-90

07/08/2024

LONGPOCKET

LP24RC018

203715

8065462

-90

08/08/2024

LONGPOCKET

LP24RC019

203724

8065561

-90

08/08/2024

LONGPOCKET

LP24RC020

203824

8065611

-90

08/08/2024

LONGPOCKET

LP24RC021

203924

8065561

-90

08/08/2024

LONGPOCKET

LP24RC022

203915

8065462

-90

09/08/2024

LONGPOCKET

LP24RC023

203915

8065362

-90

09/08/2024

LONGPOCKET

LP24RC024

203930

8065255

-90

09/08/2024

LONGPOCKET

LP24RC025

203999

8065213

-90

09/08/2024

10/08/2024

LONGPOCKET

LP24RC026

204086

8065313

-90

10/08/2024

LONGPOCKET

LP24RC027

204027

8065110

-90

11/08/2024

LONGPOCKET

LP24RC028

203958

8065116

-90

11/08/2024

LONGPOCKET

LP24RC029

203881

8065146

-90

11/08/2024

LONGPOCKET

LP24RC030

203977

8065042

-90

11/08/2024

12/08/2024

LONGPOCKET

LP24RC031

203933

8065019

-90

12/08/2024

LONGPOCKET

LP24RC032

203986

8064911

-90

12/08/2024

LONGPOCKET

LP24RC033

203889

8064909

-90

13/08/2024

LONGPOCKET

LP24RC034

204331

8064746

107

-90

13/08/2024

LONGPOCKET

LP24RC035

204134

8064653

108

-90

15/08/2024

LONGPOCKET

LP24RC036

204121

8064795

105

-90

15/08/2024

LONGPOCKET

LP24RC037

204001

8064732

101

-60

15/08/2024

16/08/2024

LONGPOCKET

LP24RC038

203843

8064732

100

-60

16/08/2024

Table 2: Significant intercepts >100ppm U

Hole number

From

Length (m)

ppm

Au g/t

LP24RC007

160.96

0.01

LP24RC007

157.42

0.06

LP24RC007

153.30

0.01

LP24RC008

485.61

0.011

including

1264.40

0.005

LP24RC008

174.34

0.02

LP24RC009

490.59

0.006

including

1544.75

0.005

LP24RC009

139.15

0.03

LP24RC010

297.04

0.006

LP24RC010

239.14

0.074

LP24RC011

152.95

0.006

LP24RC011

340.79

0.005

LP24RC011

362.65

0.022

LP24RC012

434.34

0.005

LP24RC012

138.63

0.007

LP24RC012

202.23

0.005

LP24RC012

185.67

0.013

LP24RC013

507.06

0.005

including

1432.73

0.005

LP24RC013

231.12

0.085

LP24RC014

190.44

0.02

LP24RC015

118.80

0.005

LP24RC016

2022.03

0.005

including

2639.44

0.005

LP24RC016

218.31

0.088

LP24RC017

241.62

0.007

LP24RC018

235.29

0.006

LP24RC019

No Significant intercepts

LP24RC020

No Significant intercepts

LP24RC021

488.19

0.01

LP24RC022

559.33

0.007

including

1089.58

0.005

LP24RC023

437.31

0.031

including

1041.23

0.01

LP24RC024

126.39

0.011

LP24RC025

194.57

0.005

LP24RC025

261.18

0.026

LP24RC026

346.68

0.08

LP24RC027

643.06

0.005

including

1160.33

0.005

LP24RC027

165.68

0.005

LP24RC027

298.63

0.025

LP24RC028

238.94

0.018

including

1106.09

0.01

LP24RC029

218.47

0.051

LP24RC030

108.29

0.007

LP24RC030

121.46

0.005

LP24RC030

269.46

0.027

LP24RC031

214.61

0.005

LP24RC031

212.75

0.014

LP24RC032

168.27

0.008

LP24RC032

212.99

0.012

LP24RC033

242.48

0.007

LP24RC033

255.89

0.01

LP24RC033

417.44

0.12

LP24RC034

No Significant intercepts

LP24RC035

193.39

0.005

LP24RC035

278.29

0.005

LP24RC035

318.97

0.035

LP24RC036

280.13

0.036

LP24RC037

141.39

0.008

LP24RC037

372.16

0.036

LP24RC038

225.23

0.09

LP24RC038

297.28

0.03

* Included intercepts are above >1000 ppm U

Figure 2: 2024 Long Pocket Drill Collar location and Cross Section (Figure 1) 8065125N (CNW

Group/Laramide Resources Ltd.)

SOURCE

Laramide Resources Ltd.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/October2024/22/c7116.html

%SEDAR: 00003540E

For further information:

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 11:34e 22-OCT-24

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