Mr. Rhys Davies reports

LARAMIDE'S DRILLING AT WESTMORELAND URANIUM PROJECT DEMONSTRATES SCOPE FOR RESOURCE GROWTH

Laramide Resources Ltd. has released more assay results from the 2024 drilling activities at the Westmoreland uranium project in Queensland, Australia.

Highlights:

• First assays from Long Pocket infill drilling return strong uranium mineralization at shallow depths. Significant intersections include:
  • LP24RC004 -- 10 metres at 606 ppm (parts per million) U3O8 (triuranium octoxide) from six m depth, including two m at 1,726 ppm U3O8 from 11 m;
  • LP24RC006 -- eight m at 1,770 ppm U3O8 from 16 m depth, including four m at 3,128 ppm U3O8 from 17 m.
• At Amphitheatre, drill holes display multiple zones of mineralization and AMD011 shows mineralization remains open to the south.

Assays have been received from the first six RC drill holes from Long Pocket and the remaining three diamond drill holes at the Amphitheatre prospect.

Long Pocket drilling is demonstrating that uranium mineralization is laterally continuous with drill hole collar spacing now generally less than 50 m which lends to a high level of confidence of the mineralization. Zones of higher-grade uranium intercepted within the broader coherent mineralized envelope include:

• LP24RC004 -- 10 m at 606 ppm U3O8 from six m depth, including two m at 1,726 ppm U3O8 from 11 m;
• LP24RC006 -- eight m at 1,770 ppm U3O8 from 16 m depth, including four m at 3,128 ppm U3O8 from 17 m.

Amphitheatre drilling intercepted multiple zones of uranium mineralization down hole and indicates that the target remains open to the south.

Commenting on the results, Laramide's vice-president of exploration, Rhys Davies, said:

"The first batch of results from infill drilling at Long Pocket demonstrate the quality of this satellite deposit with good uranium grade at very shallow depths and supports Laramide's focused attention on enhancing Westmoreland's resources towards improving the economics of a future mine plan.

"Building on previously reported results, Amphitheatre continues to impress with multiple zones of sandstone-hosted mineralization. The prospect remains open to the north and to the south which warrants follow-up drilling during this field season.

"We look forward to updating investors as more assay results are received over the coming weeks and months."

Long Pocket uranium deposit

Long Pocket is a satellite deposit located seven km to the east of the Westmoreland project. Thirty-eight infill RC drill holes, for a total of 2,139 m, were recently completed in 2024.

Initial results from the 2024 drilling confirms shallow (less than 50 m depth), flat-lying, continuous mineralization with multiple high zones intersecting a similar highly altered hematitic sandstone of medium to coarsely grained and poorly sorted texture, located peripheral to a dike/sill margin.

Assay results from the remaining Long Pocket drilling are expected in Q3 and Q4 2024 and results from this drilling program will be incorporated into a maiden resource estimation of the deposit in Q1 2025. The central part of this deposit is now well understood with hole spacing now less than 50 m in places.

Amphitheatre uranium prospect

The Amphitheatre uranium prospect is located 16 kilometres northeast of the Junnagunna uranium deposit.

Drilling in 2024 comprised five diamond holes (932. 7m), which targeted extensions to uranium mineralization both laterally and down dip and successfully identified new zones for follow-up. The Amphitheatre prospect geology consists of the Cliffdale volcanics and Westmoreland conglomerate and is predominantly situated within a stratigraphic basal pebble conglomerate (Ptw1). An interpreted north-south-trending fault bounds stratigraphy to the east with a massive, medium sandstone and scattered quartz pebbles (Ptw2). Mineralization is interpreted to be structurally and stratigraphically controlled displaying an eastern downthrow with no apparent lateral movement (Ptw2 expressing to the east and Ptw1 to the west).

AMD010 uranium mineralization is predominately observed as disseminated uraninite within variably hematite and silica altered in sandstone with secondary mineralization observed within veins and as fracture fill.

AMD011 intersected a mafic dike (similar to AMD009 intersection) hosting an intercept of seven m at 307.85 ppm U3O8 from 137 m.

AMD012 -- silicified sandstone with limonitic oxides and patchy pervasive sericite throughout.

Initial interpretation suggests that mineralization may continue to the north but under alluvial cover which obscures any surface radiometric response. Follow-up holes to test this region are being planned for the end of the 2024 drilling campaign.

Qualified/competent person

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 as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. 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 Tier 1 uranium jurisdictions of Australia and United States. The company's portfolio comprises predominantly advanced uranium projects in districts with historical production or superior geological prospectivity. The assets have been carefully chosen for their size, production potential and the two large projects are considered to be late-stage, low-technical risk projects.

We seek Safe Harbor.