Mr. Marc Henderson reports

LARAMIDE TO UPDATE WESTMORELAND ECONOMIC STUDY

Laramide Resources Ltd. has engaged Lycopodium Ltd. to update the preliminary economic assessment (PEA) for its Westmoreland uranium project in Queensland, Australia.

Highlights:

• Lycopodium engaged to update Westmoreland PEA;
• Westmoreland economic study update to be completed in first half of 2026;
• This study to reflect materially higher long-term uranium pricing and expanded resource base.

Lycopodium, a Brisbane-based engineering firm, wrote the company's 2016 PEA for Westmoreland. That study, which demonstrated robust project economics at a uranium price of $65 (U.S.) per pound U3O8 (triuranium octoxide), is now considered outdated pursuant to securities exchange guidance. The updated economic study is targeted for completion in the first half of 2026.

Since 2016, uranium market fundamentals have strengthened materially, with long-term consensus pricing well above levels used in the prior study. Over the same period, Laramide has meaningfully expanded the Westmoreland mineral resource, which now comprises 48.1 million pounds U3O8 in the indicated category at an average grade of 770 parts per million and 17.7 million pounds U3O8 in the inferred category at an average grade of 680 parts per million. The company has also secured a mining development licence (MDL), representing a significantly advanced stage of tenure and project title within Queensland.

The updated PEA will reflect current uranium pricing assumptions, revised capital and operating cost inputs, and the expanded resource base. The study is expected to evaluate potential production rates of approximately four million to five million pounds U3O8 per annum.

Advancement of Westmoreland toward development will ultimately depend on policy clarity in Queensland. The company remains prepared to move expeditiously and responsibly when regulatory conditions align.

Marc Henderson, president and chief executive officer, commented: "Westmoreland's economics were robust at $65 (U.S.) per pound in 2016, when uranium was in a prolonged bear market. Today's uranium market presents a fundamentally different pricing environment as nuclear energy growth prospects re-emerge globally. Updating the study allows us to reframe the project's economic profile based on current market conditions and a materially expanded resource base.

"It is also worth noting that the broader district, including our very large adjoining tenement position in the Northern Territory, remains underexplored. Our 2026 exploration program -- to be carried out in the latter half of the year -- will be designed to focus on this district potential in order to showcase that Westmoreland remains one of a few large-scale, late-stage, low-technical-risk uranium development projects available to fill a growing future supply gap."

Rhys Davies, vice-president, exploration, added: "The resource growth potential around Westmoreland is significant. Beyond the known deposits, multiple satellite prospects exhibit geological characteristics consistent with Westmoreland-style mineralization. The addition of hyperspectral data has materially expanded our target pipeline. We believe the district remains materially underexplored."

This news release has been reviewed and approved on behalf of the Laramide board by the chief executive officer of the company.

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.

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 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.

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