Mr. Marc Henderson reports

LARAMIDE UPDATES PROGRESS ON 2023 DRILLING PROGRAM AND MAKES NEW DISCOVERY WITH "OFF-SCALE" RADIOACTIVITY READING FROM SURFACE RECONNAISSANCE

Laramide Resources Ltd. has provided an update on the progress of the 2023 drilling campaign at the Westmoreland project in NW Queensland.

Highlights:

• 2023 Drilling campaign completed 4,108 metres; 40 holes across Amphitheatre, Long Pocket, Black Hills and Huarabagoo targets;
• Assay results from Amphitheatre confirm that shallow uranium mineralization continues to the south:
  • (AM23DD004) 2.8 metres at 392 parts per million (ppm) U3O8 from 43 m depth;
  • (AM23DD005) 2.55 m at 439 ppm U3O8 from 8.45 m depth including 0.6 m at 920 ppm U3O8.
• Greater than 65,535 cps "off-scale" radioactivity discovered at surface during reconnaissance exploration at new prospect, named U-Valley.

Over 4,108 m of diamond drilling, for 40 holes have been completed at four discrete targets: Amphitheatre, Long Pocket, Black Hills and Huarabagoo. The objective of the program was to investigate targets identified from radiometric anomalies testing the potential for a satellite deposit; to explore opportunities to extend the envelope of known mineralization; and to investigate the opportunities to expand the current uranium resources described in the Westmoreland PEA mine plan.

Commenting on the exploration results, Laramide's president and chief executive officer, Marc Henderson, said:

"We are pleased with our 2023 drilling campaign at Westmoreland, which commenced in July and has recently wrapped up. Thus far we have received assay results from the first of the four prospects that were drilled (Amphitheatre) and we expect subsequent results to be received over the coming months in the order which the targets were drilled (Long Pocket, Black Hills and Huarabagoo). The breadth and scope of this year's targeting highlights the quality of Laramide's land position at Westmoreland and the potential to build on our existing 51.9 Mlb resource.

"The reconnaissance exploration discovery of an 'off-scale' mineralization reading and the sighting of outcropping uranium at a prospective new drill target was an unexpected bonus and will be followed up in 2024."

Results from drill holes AM23DD003 to AM23DD007, completed in August, have now been received and show multiple zones of shallow mineralization including:

• (AM23DD004) 2.8 m at 392 ppm U3O8 from 43 m depth;
• (AM23DD005) 2.55 m at 439 ppm U3O8 from 8.45 m depth including 0.6 m at 920 ppm U3O8.

Importantly, AM23DD004 and AM23DD005 have highlighted mineralization over 200 m south of previously reported drill hole results and are unconstrained to the east and south. Amphitheatre, which is located 16 kilometres to the northeast of the Westmoreland project (51.9 million pounds U3O8), is a potential satellite deposit.

Recent field investigations have identified a zone of elevated radioactivity (greater than 12,000 cps) approximately 400 m northwest of Amphitheatre with outcropping secondary uranium mineralization at surface. This increases the size potential of the Amphitheatre target and further groundwork is planned ahead of follow-up drilling in 2024.

New discovery: off-scale radioactivity at U-Valley

Recent reconnaissance exploration at the U-Valley target has discovered extensive zones of surface radioactivity in Westmoreland conglomerate including isolated off-scale (greater than 65,535 cps) points using a Super-Spec RS-125 Spectrometer. The U-Valley target is located two km south of the Long Pocket prospect and presents as a 1.5-square-kilometre airborne radiometric anomaly.

Geological mapping and ground scintillometer surveys are currently under way to refine the target zones ahead of potential scout drilling in the 2024 field season.

The information in this announcement relating to Exploration Results is based on information compiled or reviewed by 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 (Joint Ore Reserves Committee) 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 Western United States. The company's portfolio comprises five advanced uranium projects in districts with historical production or superior geological prospectivity. Each asset has been carefully chosen for its size and 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 preliminary economic assessment 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.

In the United States, Laramide's assets include the NRC-licensed (U.S. Nuclear Regulatory Commission) 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.

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