Listed on TSX (Symbol: LAM)
TORONTO, Oct. 22, 2012 /CNW/ - Laramide Resources Ltd. is pleased to
provide a Company update to shareholders following Queensland's
decision to overturn of the decades-long ban on uranium mining. The
government decision is a very positive development for Laramide and the
Company's flagship Westmoreland Project, situated in northwestern
Queensland, one of three known deposits in the State.
Queensland Premier Campbell Newman and the Minister for Natural
Resources and Mines, the Honorable Andrew Cripps, announced in a joint
statement on Monday, October 22nd that the State Government will convene a three-member implementation
committee to oversee the recommencement of uranium mining in
Queensland. Premier Newman said the decision followed sustained public
debate on uranium mining in Queensland, in addition to the strong
support for the uranium industry from the Federal Australian Labour
Party ("ALP") Government.
Marc Henderson, President and Chief Executive Officer, commented,
"Westmoreland is one of the largest and highest quality uranium
development projects in Australia - or in the world, for that matter -
and will now clearly benefit from clarity over its uranium mining
position and our development path and timing. We look forward to a
constructive dialogue and working relationship with the Queensland
government as this policy change is implemented and we commend Mr.
Newman and Mr. Cripps on this important decision."
There has not been uranium mining in Queensland for approximately 30
years, while other states such as Northern Territory, South Australia
and Western Australia have created successful uranium industries.
To learn more about Laramide and to review a copy of the Joint Statement
discussed in this news release, please visit the Company's website at www.laramide.com.
About Laramide:
Laramide is engaged in the exploration and development of high-quality
uranium assets. Its wholly owned uranium assets are in Australia and
the United States. Laramide's portfolio of advanced uranium projects
have been chosen for their production potential. Its flagship project,
Westmoreland, in Queensland, Australia, is one of the largest projects
currently held by a junior mining company. Its U.S. assets include La
Jara Mesa in Grants, New Mexico, and La Sal in the Lisbon Valley
district of Utah. Its portfolio also includes joint venture, strategic
equity positions and royalty participation in uranium development and
exploration companies that provide additional geographic
diversification and uranium exposure for shareholders.
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 ere applied in drawing a conclusion or making a
forecast or projection as reflected in the forward-looking information.
SOURCE: Laramide Resources Ltd.
<p> Marc Henderson, President and CEO <br/> Toronto, Canada +1 (416) 599 7363 </p> <p> Peter Mullens, Director and Vice-President, Exploration<br/> Brisbane, Australia </p> <p> Greg Ferron, Vice-President, Corp. Dev and IR<br/> Toronto, Canada +1 (416) 599 7363 </p>