Mr. Marc Henderson reports

LARAMIDE EXTENDS EXTRACT CONVERTIBLE LOAN AND ENTERS INTO NEW $5M CREDIT FACILITY

Laramide Resources Ltd. and its lenders, Extract Capital Master Fund Ltd. and Extract Lending LLC, with Extract Advisors LLC acting as agent for and on behalf of the lenders, completed an amendment to the existing term loan made by the lenders in favour of Laramide Resources (USA) Ltd., which includes, among other things, (i) an extension of the maturity date of the term loan from March 31, 2025, to April 1, 2026, and (ii) a new non-convertible $5-million standby credit facility with Extract. The multidraw facility will have the same maturity date as the term loan and allows for multiple drawdowns. All other terms of the term loan remain unchanged with a 7-per-cent coupon and 40-cent conversion price while the multidraw facility, if utilized, will incur interest expense at 12 per cent per annum.

The multidraw facility will also have a $50,000 commitment fee (paid on closing) and a 1-per-cent standby fee on the undrawn portion of the multidraw facility payable quarterly. The multidraw facility will not be convertible into common shares of the company.

In connection with the multidraw facility, Laramide has agreed to issue the lenders 750,000 warrants to purchase common shares of the company exercisable until Oct. 18, 2027, at a price per common share equal to 135 per cent of the volume-weighted average trading price of the common shares on the Toronto Stock Exchange for the five trading days prior to closing.

Commenting on the transaction, Laramide's president and chief executive officer, Marc Henderson, said: "We are pleased for the continuing support of Extract, which has been a long-term shareholder of Laramide since well before the current uranium bull market began. With many catalysts immediately ahead for us, including further drill results from our ongoing Australian drilling program and an important upcoming State election in Queensland on Oct. 26, we believe these newly announced transactions will provide valuable financial flexibility for us going forward and should prove mutually beneficial."

The issuance of the warrants to the lenders remains subject to customary conditions including approval of the Toronto Stock Exchange and the Australian Securities Exchange, if applicable.

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.