The updated Mineral Resource Estimate reports a total Indicated Resource of 27.8 million tonnes at an average grade of 770 ppm for 48.1 MLbs. of U3O8 and a total Inferred Resource of approximately 11.8 million tonnes at an average grade of 680 ppm U3O8 for 17.7 million contained Lbs. of U3O8.
70% (48.1 MLbs.) of the Resource is now classified Indicated and 30% (17.7 MLbs.) is classified Inferred.
Update includes re-estimate of the Redtree, Huarabagoo and Junnagunna deposits as well as an Initial Resource for Long Pocket.
TORONTO, April 14, 2025 /CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF), is pleased to announce that it has filed on SEDAR+ a National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") compliant, independent technical report for the wholly owned Westmoreland Project in northwest Queensland, Australia ("Westmoreland").
Laramide Resources Ltd. logo (CNW Group/Laramide Resources Ltd.)
The Report titled "Updated Mineral Resource Estimate and NI 43-101 Technical Report for Laramide's Westmoreland Uranium Project, Queensland Australia" is dated April 14, 2025, and has an effective date of January 31st, 2025. There are no differences in the Report from the results disclosed in the Company's February 28, 2025 news release1. The Report can be found under Laramide's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.laramide.com).
An update to the Mineral Resource Estimate for the Westmoreland Uranium Project, Queensland, Australia has been prepared by Addison Mining Services of the United Kingdom on behalf of Laramide Resources Ltd. Laramide is a dual listed entity on the TSX and ASX stock exchanges of Canada and Australia respectively, as such the estimate is reported in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, ("NI 43-101") and prepared under Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards. CIM Definition Standards for Mineral Resources (2014) and Best Practices Guidelines outline by CIM (2019) have been followed. The estimate is also reported in accordance with The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ('the JORC Code' 2012 edition.)
Qualified/Competent Person Review
The technical information in this release relating to Mineral Resource Estimates has been reviewed by Mr. R. J. Siddle, MSc, MAIG Principal Resource Geologist for Addison Mining Services Ltd. Mr. Siddle is an independent Qualified Person within the meaning of the CIM Definition Standards for Mineral Resources (2014) and independent Competent Person within the meaning of the JORC (2012). He has over 15 years' experience in the industry, relevant experience includes undertaking mineral resource estimates for a variety of commodities including gold and tin deposits. Mr. Siddle has prior involvement with the project having worked as an exploration geologist for Lagoon Creek Resources on the Westmoreland project in 2007 and 2008.
Mr. Siddle has reviewed and verified the technical information that forms the basis of, and has been used in the preparation of, the Mineral Resource Estimate and this announcement, including analytical data, drilling logs, QC data, density measurements, and sampling. Mr. Siddle consents to the inclusion in this announcement of the matters based on the information, in the form and context in which it appears.
This announcement dated 14th April 2025 has been authorized for release to the TSX and ASX by the President and CEO of Laramide Resources.
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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 km2 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.
