Mr. Marc Henderson reports

LARAMIDE ASSAY RESULTS FROM LONG POCKET AND BLACK HILLS PROSPECTS SUPPORT EXPANSION POTENTIAL AT WESTMORELAND

Laramide Resources Ltd. has released assay results received from the 2023 drilling campaign at the Westmoreland project in northwest Queensland.

Over 4,000 metres of diamond drilling for 40 holes was completed at four discrete targets during 2023: Amphitheatre, Long Pocket, Black Hills and Huarabagoo. Results from Long Pocket and Black Hills have now been received after extended laboratory delays. The objective of drilling at these targets was to explore opportunities to extend the envelope of known mineralization at Long Pocket ahead of a maiden mineral resource modelling planned for 2024 and to investigate potential extensions in the corridor toward the Black Hills uranium prospect. Long Pocket is a potential satellite deposit located seven kilometres to the east of the Westmoreland project and was subject to historical exploration by previous operators, including QML, Rio Tinto and Laramide.

Commenting on the exploration results, Laramide's president and chief executive officer, Marc Henderson, said: "We are pleased to have received more positive results from our 2023 drilling campaign at Westmoreland, which was completed in October. The results are highly encouraging because they lend confidence that the Westmoreland project has the potential to expand the uranium mineralisation with satellite deposits additional to the known 51.9-million-pound mineral resources.

"The consistency of today's results supports our plans to begin modelling a maiden resource at the Long Pocket area in 2024. This Long Pocket area includes Black Hills to the north and the newly discovered U-Valley to the south.

"The latest results include significant grade from Black Hills which warrants further investigation and will be a priority for the 2024 field season. The 2024 exploration plans include validation and qualification of historical work, completed in the 1970s by Rio Tinto's predecessors."

Black Hills prospect

The Black Hills prospect is located 1.5 km northeast of the Long Pocket prospect and presents as a broad 1.5 by one km east-west airborne radiometric anomaly. Recent exploration drilling at the Black Hills target has discovered multiple zones of mineralization in previously undrilled zones at the project's southern end.

Three scout holes were drilled in 2023, each intercepting multiple zones of mineralization, with results including:

• BH23DD001 -- three m at 259 parts per million U3O8 (triuranium octoxide) from 29 m depth;
• BH23DD001 -- 0.98 m at 505 ppm U3O8 from 120.12 m;
• BH23DD002 -- two m at 591 ppm (0.06 per cent) U3O8 from 209 m;
  • Including 0.9 m at 1,154 ppm (0.12 per cent) U3O8 from 210.1 m.
• BH23DD003 -- three m at 1,844 ppm (0.18 per cent) U3O8 from 88 m;
  • Including two m at 2,671 ppm (0.27 per cent) U3O8 from 89 m.

Mineralization is hosted in the coarse-grained to granular Westmoreland conglomerate with the higher grades (greater than 0.1 per cent) associated with the fractured footwall contact of intrusive dolerite dies.

These results, combined with a review of historical data from the 1970s, promote Black Hills to one of Laramide's priority exploration targets for the 2024 field season and will include validation and qualification of historical work.

Long Pocket

At Long Pocket 15 exploration drill holes were completed to test mineralization extensions to the north and northeast.

Importantly, results from drill holes LP23DD-002, -008 and -011 present immediate stepouts of over 100 m from known shallow, flat-lying mineralization, whilst LP23DD-006 and -015 suggest a potential mineralized corridor to the Black Hills uranium prospect which requires further investigation in the year ahead.

• LP23DD002 -- one m at 545 ppm U3O8 from 42 m;
• LP23DD006 -- 0.68 m at 980 ppm U3O8 from 81 m;
• LP23DD008 -- 0.73 m at 149 ppm U3O8 from 4.93 m;
• LP23DD011 -- 0.96 m at 109 ppm U3O8 from 21.54 m;
• LP23DD015 -- 1.02 m at 692 ppm U3O8 from 51.9 m.

U-Valley

Further to previously reported off-scale radiometric anomalism at the U-Valley prospect, the four in situ, rock chips samples taken during reconnaissance work in 2023 have returned significant uranium mineralization grading up to 1.49 per cent U3O8 over two parallel east-west-trending zones of approximately 200 m strike. Whilst grab samples are discrete points, outcropping uranium mineralization presents a compelling target for further investigation during 2024.

Qualified person/competent person statement

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 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.

We seek Safe Harbor.