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2006 Press Releases

Laramide Appoints Gibson as CFO; Completes Data License Agreement for Westmoreland

Laramide Resources Ltd. (LAM: TSX-V) is pleased to announce it has appointed Mr. Dennis Gibson as Chief Financial Officer for the Company. Mr. Gibson holds a Bachelor of Commerce from Concordia University, is a Certified General Accountant and has held various senior financial positions for the past twenty-five years. Mr. Gibson served as Vice President, CFO and Corporate Secretary for Vector Intermediaries Inc., a public company traded on the TSX Venture Exchange, from 1996 to 2004. Mr. Gibson replaces Allan Ibbitson, former CFO for Laramide, who has stepped down to pursue other interests in the resource sector.

Laramide also wishes to announce that it has completed its previously announced data license agreement (“DLA”) with Rio Tinto Exploration Pty Ltd, a wholly owned subsidiary of Rio Tinto Ltd. (see press release of March 1, 2006). As per the agreement, Laramide has issued to Rio Tinto, the remaining 197,241 common shares of the Company, thus completing the transaction. Upon successfully attaining a mining permit for Westmoreland, Laramide must make a further AUD$ 500,000 cash payment (inflation-indexed) to Rio Tinto.

In further news, since January 1, 2006, Laramide has received in excess of CDN $4 million, due to the exercise of common share purchase warrants and employee options, and has issued 1,109,700 common shares as a result of these exercises. The Company now has in excess of CDN $15 million in cash and liquid investments and is well funded for its upcoming 2006 exploration campaign in Australia, which will commence shortly following the conclusion of the wet season in Northern Australia.

The UEL (Uranium Equities Limited) transaction announced on January 13, 2006 is progressing as scheduled and a shareholders meeting is now scheduled for May 8, 2006 in Perth, Australia to solicit shareholder approval for the transaction. Laramide has committed to invest AUS $3 million on receipt of such approval and this investment will close immediately thereafter, making Laramide the largest shareholder of a new ASX (Australian Stock Exchange) listed uranium focused junior.

Laramide Resources Ltd. (“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 improve commodity fundamentals. The Company’s lead project is the Westmoreland Project, 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.

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.