Mr. Marc Henderson reports

LARAMIDE SIGNS AGREEMENT WITH THE UNITED STATES FOREST SERVICE TOWARDS THE REINITIATION OF THE EIS FOR THE LA JARA MESA PROJECT IN NEW MEXICO

Laramide Resources Ltd. has recommenced the review process of the draft environmental impact statement (DEIS) for La Jara Mesa, which will ultimately lead to the completion of the final environmental impact statement and a United States Forest Service (USFS) record of decision (ROD). Laramide has signed an agreement with the USFS, Cibola National Forest and National Grasslands to fund the services required to restart the USFS National Environmental Policy Act (NEPA) analysis.

The DEIS for the La Jara Mesa mine project was originally published in May, 2012, on the federal register and was available for public review as announced by the company on May 22, 2012. The public review process was the final step toward the EIS. However, due to progressively unfavourable uranium market conditions, Laramide elected to pause the permitting process.

Today's announcement recognizes that Cibola National Forest and National Grasslands of the USFS is in receipt of the La Jara Mesa mine plan of operations, developed by Laramide, which proposes to build and operate an underground mine on its unpatented mining claims on La Jara Mesa in the Mount Taylor Ranger district. The Cibola National Forest will prepare an environmental impact statement in accordance with NEPA to assess the development of a uranium exploration and mining operation.

A copy of the DEIS can be found at Laramide's website.

La Jara Mesa overview

The La Jara Mesa project is in the prolific Grants mineral belt, 10 miles northeast of the town of Grants in Cibola county, New Mexico, United States. The deposit was discovered in 1980 and developed through 1983 by Power Resources on behalf of Midas International, the then project owner. Both Homestake Mining Company and Laramide Resources subsequently performed validation drilling of the deposit. To date over 700 holes have been completed.

La Jara Mesa is a sandstone-hosted, roll-front-style deposit. Laramide's National Instrument 43-101 compliant mineral resource estimate for La Jara reports 7,257,817 pounds of uranium (U3O8 (triuranium octoxide)) in the measured and indicated classifications, contained in 1,555,899 tons at an average grade of 0.23 per cent U3O8. In addition, there are 3,172,653 pounds of U3O8 in the inferred mineral resource classification, contained in 793,161 tons at an average grade of 0.20 per cent U3O8 on the property.

Qualified person

The technical information presented in this news release has been reviewed and approved by Rhys Davies (MGeol, MSc, MAIG, RPGeo, FGS) who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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 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 Nuclear Regulatory Commission licensed 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 an underground project, called La Sal, in Lisbon Valley, Utah.

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