Ongoing Drilling Campaign at Westmoreland Uranium Project

TORONTO - Laramide Resources Ltd. reported on the drilling campaign completed at the Westmoreland Uranium Project in Queensland, Australia. The 2024 drill program has concluded with successful results confirming the high-quality of the Westmoreland uranium deposit and supporting a Global Mineral Resource Estimate Update expected by the end of Q1 2025.

The 2024 Drill program was designed to improve the Westmoreland Mineral Resource through extensional and infill drilling of uranium mineralisation and to gain a deeper understanding of the potential for gold mineralisation within the system. As well, following up on Laramide's past campaigns, targets were identified to explore satellite uranium deposits with long-term outlook for sustained project growth. And finally, to advance on-ground access logistics and targeting within the Murphy Project in the Northern Territory.

Significantly, results from the 2024 drilling program returned broad mineralisation from each prospect area. Notably, many of these wide intercepts envelope narrow high-grade intercepts found across the Westmoreland project area. Results for eleven holes from infill drilling at Junnagunna, three holes drilled at Amphitheatre, and two exploration holes from the Southern Comfort-Mageera Trend in the Northern Territory have recently been received. Receipt of these results conclude a successful program. The 2024 drilling campaign across the broader Westmoreland Project was completed on the 4th of November and comprised 106 holes (includes 60 RC and 46 DD) for 11,263 meters, across multiple targets.

Vice-President of Exploration Rhys Davies said, "The 2024 Drill Campaign represents Laramide's most ambitious effort to date, with 106 holes for over 11,000 metres drilled across the Westmoreland Project. This aggressive approach was designed to demonstrate the scalability and quality of the Westmoreland asset, reinforcing our commitment to advancing to its full potential."