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2008 Press Releases

Laramide Announces Northern Territory Joint Venture Drill Results

Toronto, Ontario TSX: LAM: Laramide Resources Ltd. ("Laramide" or "the Company") is pleased to announce drill results from the program completed in the third quarter of 2007 with joint venture partner NuPower Resources Limited (ASX:NUP) "NuPower"). The Northern Territory property is adjacent to Laramide’s Westmoreland project in Queensland – see location map at www.laramide.com. Drilling was conducted on two targets, namely, Northeast Westmoreland and El Hussen South, with assay results received for both. The NE Westmoreland target occurs in the Northern Territory and although occurring within the same district, is not directly part of Laramide’s Westmoreland Uranium Deposit. These results are considered encouraging given the extensive regional uranium mineralised system and the tenor of mineralization at Redtree in the Queensland portion of the system. Follow-up of anomalies generated from the regional stream sediment programme undertaken last year are planned for 2008.

Northeast Westmoreland

Best results from NE Westmoreland include:

  • NEWM 205: 1.5 metres at 0.19% U3O8 from 64.75m
  • NEWM 212: 4.5 metres at 0.1% U3O8 from 120.75m
  • NEWM 231: 2 metres at 0.04% U3O8 from 60.25m

Nine diamond drill holes were completed at NE Westmoreland, in addition to three diamond tails added to holes from the 2006 RC campaign (see first three holes listed in Table 1 below), for a total of 2126m of NQ core (see Table 1).

El Hussen South
Five diamond drill holes were completed at El Hussen South totalling 708m of NQ core, with only one hole delivering mineralization as follows:.

EHS 7: 5.5 metres at 0.02% U3O8 from 10.95m
and 3.5 metres at 0.02% U3O8 from 17.35 m

(Easting AGD84 802948; Northing AGD84 8058751; Azimuth 68; Dip -63; Total Depth 151 m)

In all drilling, the NQ core was cut using a diamond saw, with half metre sample intervals being dispatched for assay by ALS Chemex, Townsville by method ME-MS61. The ME-MS61 assay involves a four acid (HF, HNO3, HCLO4 and HCL) "near total" digestion followed by a 48 element ICPMS scan, giving a detection range of 0.1-10,000ppm uranium.

Table 1. Assay Results > 100 ppm U3O8


Drill Hole
Easting
AGD84
Northing
AGD84
Azimuth (degrees) Dip (degrees) Metres Drilled in 2007 Total Depth (m) From (m) To (m) Interval (m) U3O8
(%)
NEWM205 817149 8059159 135 -55 81 146 64.75 66.25 1.5 0.19
and 66.75 67.25 0.5 0.02
NEWM210 817817 8059692 135 -55 122 191 106.25 107.25 1 0.04
NEWM212 817717 8059793 135 -55 116 200 112.25 112.75 0.5 0.08
and 119.25 119.75 0.5 0.01
and 120.75 125.25 4.5 0.1
NEWM224 817742 8059768 135 -55 300 300 112.75 113.25 0.5 0.08
NEWM225 817951 8060015 135 -55 200 200 135.25 135.75 0.5 0.02
NEWM226 818003 8059967 135 -55 221 221 126.25 127.25 1 0.1
NEWM229 817137 8059173 135 -55 152 152 66.75 67.75 1 0.03
NEWM230 817101 8059212 135 -57 200 200 67.75 68.75 1 0.04
and 167.75 168.75 1 0.01
and 169.25 171.75 2.5 0.02
NEWM231 816842 8058928 135 -55 181.5 181.5 60.25 62.25 2 0.04

ABOUT LARAMIDE:
Laramide Resources is engaged in the exploration and development of high quality uranium assets. Its wholly owned uranium assets are in Australia and the United States. Laramide’s portfolio of advanced uranium projects have been chosen for their production potential. Its flagship project is Westmoreland, in Queensland, Australia, one of the largest projects currently held by a junior mining company. Its U.S. assets include La Jara Mesa in Grants, New Mexico and La Sal in the Lisbon Valley district of Utah. Its portfolio also includes joint venture, strategic equity positions and royalty participation in uranium development and exploration companies that provide additional geographic diversification and uranium exposure for shareholders.
Laramide has implemented a quality control program at Westmoreland to ensure best practices. Under the guidelines of the National Instrument 43-101, the Qualified Person for the Westmoreland Uranium Project is Mr. Peter Mullens, who is a member of the Australian Institute of Mining and Metallurgy. Mr. Mullens has reviewed and approved the technical content of this release.

For further information contact:

Flora Wood, Investor Relations
Toronto, Canada +1 (416) 599 7363
flora@laramide.com
Peter Mullens, VP Exploration
Brisbane, Australia +61 (7) 3831 3407


Or visit our website at www.laramide.com