Mr. Marc Henderson reports

FULLY SUBSCRIBED PLACEMENT RAISING A$12.0M

Laramide Resources Ltd. has received firm commitments for a $12.0-million (Australian) placement to institutional and sophisticated investors pursuant to s708 of the Corporations Act (Cwth) 2001 in Australia, raising $12.0-million (Australian) before expenses.

Proceeds from the placement will be used to accelerate development projects in the United States, to ramp up drilling at the company's advanced exploration assets in Australia during the next field season, and for general working capital and transaction costs. The closing of the placement is expected to occur on or about Wednesday, Nov. 15, 2023, and is subject to the completion of formal documentation and receipt of regulatory approval, including the approval of the Toronto Stock Exchange.

The placement comprises the issue of 20 million Chess depositary interests at an issue price of 60 Australian cents per CDI. The offer price represents a 3.2-per-cent discount to the company's last traded price on the Australian Securities Exchange on Wednesday, Nov. 8, 2023, of 62 Australian cents. The placement is expected to settle on Wednesday, Nov. 15, 2023, with CDIs expected to be issued on Thursday, Nov. 16, 2023. Each new CDI issued under the placement will rank equally with existing CDIs on issue and each CDI will represent a beneficial interest in one common share of the company. Bell Potter Securities Ltd. acted as lead manager and bookrunner to the placement.

Laramide's president and chief executive officer, Marc Henderson, said: "We are excited to be moving into this phase of Laramide's evolution underpinned by the uranium industry which appears to have entered a new bull market with spot prices rising above $70.00. The fundraising will facilitate continued permitting at Laramide's development projects in the USA and to accelerate exploration in Queensland and Australia's Northern Territory."

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 is considered to be a late-stage, low-technical risk project.

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 that 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 that Laramide strategically acquired to control the majority of the mineralized system along the Westmoreland trend.

In the United States, Laramide's assets include the National Research Council Canada licensed Crownpoint-Churchrock uranium project, which is proposed to be developed using in-situ recovery production methodology. The company also owns the La Jara Mesa project in the historic Grants mining district of New Mexico and an underground project, called La Sal, in Lisbon Valley, Utah.

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