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2008 Press Releases

Laramide Intersects 58 Metres @ 0.12 % U3O8 at Westmoreland

Laramide Resources Ltd. (TSX:  LAM)  is pleased to release results of  the next eight diamond drill holes from its 100% owned Westmoreland project located in North West Queensland, Australia. These results included Drill Hole WDD08-11 which intersected 58 meters @ 0.12 % U3O8. All 8 drill holes were drilled with either NQ or HQ core into the Garee Lens, which forms part of the Redtree Deposit at the Westmoreland project. Mineralization within the Garee lens is flat lying and hence the true width of mineralization is between 80 % and 100 % of the intersection within the drill holes (see “true width” column in table below).

Results of laboratory analysis of core samples up to and including WDD08-0016 have been received, and are tabulated below.

Drill Hole

Section

AMG East*

AMG North*

Azimuth (degrees)

Dip (degrees)

RL   (m)

From (m)

To     (m)

Interval (m)

U3O8
(%)

True Width

WDD08-8

7710N

192300

8060523

313

-75

164

13

78

65

0.10

63

Including

 

 

 

 

 

 

59

69

10

0.31

9

WDD08-9

7710N

192300

8060523

0

-90

164

13

22

9

0.09

9

And

 

 

 

 

 

 

28

63

35

0.07

35

WDD08-11

7710N

192300

8060523

313

-45

164

33

91

58

0.12

41

Including

 

 

 

 

 

 

66

82

16

0.30

11

WDD08-12

7770N

192487

8060725

0

-90

168

25

30

5

0.05

5

And

 

 

 

 

 

 

35

39

4

0.10

4

And

 

 

 

 

 

 

45

78

33

0.05

33

WDD08-13

7770N

192486

8060725

135

-60

168

21

74

53

0.11

46

Including

 

 

 

 

 

 

56

67

11

0.32

9.5

WDD08-14

7770N

192486

8060725

135

-60

168

27

35

8

0.09

7

And

 

 

 

 

 

 

40

54

14

0.04

12

WDD08-15

7770N

192485

8060729

315

-45

168

17

23

6

0.09

4

And

 

 

 

 

 

 

27

32

5

0.06

3.5

And

 

 

 

 

 

 

38

46

8

0.05

6

And

 

 

 

 

 

 

51

55

4

0.11

4

WDD08-16

7770N

192485

8060729

315

-45

168

28

33

5

0.14

4

and

 

 

 

 

 

 

43

50

7

0.05

6

* Datum is AGD66
* No assay results for WDD08-10 – hole abandoned at 20m.

 

Peter Mullens, VP Exploration stated “The results to date continue to demonstrate continuity of mineralization identified in historical drilling and confirmed in the resource calculation completed by Mining Associates in October 2006.  We expect much of the mineralization in the Inferred category to be converted to Indicated in the next resource calculation planned for third quarter 2008.” 
Drilling is continuing with a Longyear LF 70 drill rig operating on single shifts. A second LF 70 drill rig will commence drilling at the Junnagunna prospect located within the Westmoreland Project next week. Junnagunna is a flat lying zone of mineralization, that is between 5 and 10 metres thick, is located close to surface and occurs approximately 5 kms to the north of the Garee lens along the Westmoreland dyke structure. See fig for details. The program estimates completion of approximately 3,000 metres of drilling at Junnagunna.

Junnagunna contains a total calculated resource of 4.4 million tons @  0.081 % U3O8 (Indicated) and 2.1 million tons @ 0.075% U3O8 (Inferred)as defined by the above-mentioned NI 43101 compliant resource calculation  (See SEDAR filed technical report dated October 25 2006).

As of April 19, 2008, Laramide had completed a total of 39 diamond drill holes for a total of 3,624 metres. Most of the drilling has been completed with NQ sized core. Several holes were completed with HQ size core so that, in addition to assaying, half of the core will also be used for metallurgical test work.
The current drill program is expected to be completed in the third quarter of  2008. While this program is being executed, Laramide will also conduct initial metallurgical test work and mine engineering studies. Currently core is being saved from drill holes to be sent for metallurgical test work.

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
Peter Mullens, VP Exploration
Brisbane, Australia +61 (7) 3831 3407
Or visit our web site at www.Laramide.com

 

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.