2006 Press Releases

Laramide Announces CDN$17,250,000 "Bought Deal" Financing

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.

Laramide Resources Ltd. (“Laramide”) (LAM: TSX) wishes to announce that it has entered into an agreement for a “bought deal” private placement financing with asyndicate of underwriters led by Haywood Securities Inc. and including GMP SecuritiesL.P., Sprott Securities Inc., and Westwind Partners Inc. As contemplated by theagreement Laramide will issue 2,300,000 units (the “Units”) at CDN$7.50 per Unit toraise gross proceeds of CDN$17,250,000. Each Unit consists of one common share andone-half of one transferable share purchase warrant, each whole warrant is exercisable for18 months. Each whole warrant shall be exercisable at a price of CDN$8.75 per share forthe first nine (9) months from the closing date; if the Warrants are not exercised withinthe first nine months of the Closing Date, the exercise price of each outstanding warrantwill increase to a price of CDN$9.50 per Share for the remaining nine (9) months of theterm of the warrant.

The warrants shall not be listed on any stock exchange. The underwriters have the optionto purchase up to an additional 500,000 Units at the offering price until 48 hours prior toclosing. Net proceeds of the private placement, will be used to fund the exploration anddevelopment of Laramide’s Westmoreland project in Australia, and for working capitaland general corporate purposes.

The offering is scheduled to close on or before December 29, 2006 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the Toronto Stock Exchange.

The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

“Marc C. Henderson”
Marc C. Henderson President & Director

For further information, Contact:
Marc C. Henderson
Tel: (416) 599-7363
Website: www.Laramide.com