2006 Press Releases

Laramide to License Westmoreland Database from Rio Tinto

Laramide Resources Ltd (“Laramide”) and wholly-owned subsidiary, Westmoreland Resources Pty Limited, are pleased to announce that they have entered into a data license agreement (“DLA”) with Rio Tinto Exploration Pty Ltd, a wholly-owned subsidiary of Rio Tinto Ltd (“Rio Tinto”), to license Rio Tinto’s extensive historical database for the Westmoreland uranium project located in Queensland, Australia. The database is a compilation of much of the previous exploration work which was completed by various parties on Westmoreland from its initial discovery in 1956 until the year 1999. The database, which is available in both digital and hard copy formats, includes approximately 2100 drill holes as well as geophysical and metallurgical data.

Within 10 days of execution of the DLA, Laramide will pay Rio Tinto a licence fee of AUD $200,000, of which $25,000 which has already been paid, and issue 333,608 common shares of Laramide to Rio Tinto. Within 60 business days of execution of the DLA, Laramide will issue to Rio Tinto a further 197,241 common shares. On Laramide successfully attaining a mining permit for Westmoreland, Laramide must make a further AUD $ 500,000 cash payment (inflation-indexed) to Rio Tinto.

The DLA is subject to the approval of the TSX Venture Exchange and such approval being acceptable to Rio Tinto.

In addition, Westmoreland Resources Pty Limited has granted to Rio Tinto a 1% Net Smelter Royalty on any production from Westmoreland, with cumulative payments capped at AUD $10 million (but also inflation- indexed).

In commenting on the transaction Peter Mullens, Laramide’s Vice-President Exploration stated, “we are very happy to complete this data license agreement with Rio Tinto as it should markedly facilitate and expedite Laramide’s business plan for Westmoreland. A large exploration budget is contemplated for Westmoreland, as well as for Laramide’s other Northern Australian tenements in 2006, and access to this well organized and comprehensive database of the area should significantly enhance the planning of our upcoming exploration campaign”

Laramide is a Toronto-based resource company specializing in the acquisition and development of precious and base metal properties. Laramide has a diverse portfolio of assets, all of which are leveraged to improving commodity fundamentals. The Company’s lead project is the Westmoreland Project, located in Queensland, Australia.

For further information contact:
Marc C. Henderson, President
Toronto, Canada +1 (416) 599 7363

Peter Mullens, VP Exploration/Corporate Development
Brisbane, Australia +61 (7) 3831 3407

Or visit our web site at www.Laramide.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Mr. Peter Mullens is the qualified person within the meaning of National Instrument 43-101. Mr. Mullens has reviewed the contents of this release.

This press release contains forward-looking statements. The actual results could differ materially from a conclusion, forecast or projection in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information.