Mr. Marc Henderson reports

LARAMIDE RESOURCES PREPARES FOR EXPLORATION DRILLING IN KAZAKHSTAN'S CHU-SARYSU BASIN

Laramide Resources Ltd. has plans to conduct approximately 15,000 metres of drilling across multiple targets within its Chu-Sarysu project in Kazakhstan.

Over the past 12 months, Laramide has compiled a large data set from Kazakhstan's state National Geological Services with assistance from local geological contractors. The plethora of historical data comprises historical mapping, drilling, geophysics (including seismic, electromagnetic, magnetic and gravity) and geochemistry. Review and assessment of these data have confirmed Laramide's view that the project represents a target-rich environment, which is prospective for uranium, copper and rare earth elements.

During 2025, Laramide submitted the required exploration work plans to the Ministry of Industry and Construction, and is finalizing the required remaining permits needed to proceed with drilling activities.

Laramide has selected two local drilling contractors to conduct drilling, utilizing multiple rigs to achieve a minimum of 15,000 m of drilling through a combination of rotary mud and diamond core drilling. Target depths range from 50 metres at shallowest to between 400 and 550 m at deepest.

This phase 1 round of drilling will commence in fourth quarter with the aim to provide proof of concept that roll-front-hosted uranium mineralization is extensive within the basin and not constrained to the existing known large-scale operations, and also to test for other metals including copper and rare earths.

For reference, the Chu-Sarysu project is located in the Suzak district of the South Kazakhstani oblast, Republic of Kazakhstan. In 2024, Kazakhstan accounted for almost 40 per cent of global triuranium octoxide production. Among the country's five main uranium-producing basins, the Chu-Sarysu and Syr Darya basins located in the south of the country contribute more than 75 per cent of national output. These basins host major deposits and operational in situ recovery mines including Inkai (Cameco joint venture) and Moinkum-Tortkuduk (Katco JV).

Additionally, the Chu-Sarysu basin is notable for its significant copper potential, exemplified by the massive Dzhezkazgan sediment-hosted copper deposit located in the northern region. This potential is further reinforced by the continuing exploration efforts across large tenement packages in the basin by major companies such as Rio Tinto, Fortescue, First Quantum and Ivanhoe.

Marc Henderson, Laramide's president and chief executive officer, commented: "The Chu-Sarysu basin project represents one of the great greenfield exploration opportunities globally.

"We have found the Kazakhstan's government to be supportive of mineral exploration with policies that encourage foreign investment and streamline permitting. This creates a favourable environment for advancing new discoveries that can ultimately contribute to the growing global demand for nuclear fuel.

"This inaugural exploration program for Laramide in Kazakhstan is targeting high-grade, large-scale uranium deposits, amenable to cost-efficient and environmentally responsible in situ recovery mining and within a district that already hosts infrastructure and producing operations, which provides clear cost advantages.

"While uranium remains our primary focus, the project's copper and rare earths prospectivity adds an interesting dimension, offering additional upside potential and the possibility of attracting interest in future joint venture partnerships.

"With drilling set to begin in Q4, we are looking forward to delivering results that will demonstrate the significant potential of this world-class basin."

Option agreement

The Chu-Sarysu project is part of a three-year option agreement, with an option to extend for an additional year, to acquire shares of Aral Resources Ltd., a Kazakhstani company registered with the Astana International Financial Center. Aral owns 22 mineral licences covering nearly 5,500 square kilometres of the Chu-Sarysu sedimentary basin of Kazakhstan.

Under the terms of the option agreement, Laramide has the right to acquire all outstanding shares of Aral at any time during the option period, thereby obtaining full ownership of the Chu-Sarysu project.

Throughout the option period, Laramide is serving as the exclusive operator, assuming responsibility for all operational and exploration expenses. Each licence has an initial term of up to six years, with the option for a one-time renewal for an additional five years.

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 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. 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 and production potential, and the two large development projects are considered to be late-stage, low-technical-risk projects. As well, Laramide has expanded its pipeline with strategic exploration in Kazakhstan, where the company is exploring over 5,500 square kilometres of the prolific Chu-Sarysu basin for world-class roll-front deposits, which are amenable to in situ recovery.

We seek Safe Harbor.