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2008 Press Releases

Laramide Completes First Phase of Drilling at Westmoreland

Laramide Resources Ltd. (TSX:  LAM)  is pleased to announce that it has completed 11,248 metres of diamond drilling on its 100 % owned Westmoreland project located in Northwest Queensland, Australia. This was the first phase of drilling completed by Laramide at the  project. Eighty-seven holes for 7,980 metres were completed on the Redtree area and 34 holes for 3,268 metres were completed on the Junnagunna area. A second round of drilling at Redtree and Junnagunna is planned to commence in September 2008. All drill core has been logged and sent for assay with ALS Chemex Laboratory located in Brisbane, Australia.

Laramide is pleased to report the results from the next nine drill holes from Redtree and the initial seven drill holes from Junnagunna. Fourteen of the sixteen drill holes intersected significant uranium mineralization with drill hole WDD08-045 drilled into the Garee Lens at Redtree intersecting 39 metres @ 0.09 % U3O8 from a depth of 17 metres.

In addition to the results from Redtree, results from the first seven holes drilled into the Junnagunna project area are reported below. These results included drill hole JDD08-002 which intersected 11 metres at 0.21% U3O8 from 52 metres depth and 10 metres at 0.36% U3O8 from 82 metres depth.

  •  All 16 drill holes were drilled with either NQ or HQ core.

  •  Peter Mullens, VP Exploration, stated “The results from Junnagunna were particularly interesting as they have intersected mineralization within steeper structures which have acted as feeder zones to the generally flat mineralization known from Junnagunna. This leads to the possibility of being able to increase the overall size of the resource at Junnagunna, although we do not yet know the magnitude of the possible increase. We are continuing the geological interpretation of the Junnagunna mineralization.”

  • It should be noted that Junnagunna occurs approximately 6 kilometres north of the Redtree deposit along a structural corridor which hosts the Redtree dyke. Mullens further stated “We consider the entire seven kilometre length of the Redtree dyke structure to be prospective for uranium mineralization. Currently mineral resources are only known from about 50% of this strike length of the dyke. Future drilling will target other potential zones of mineralization located along this dyke structure or parallel to it.” (See attached figure for details).

 

Latest Drill Assay Results from Redtree and Junnagunna.

Drill Hole
AMG East*
AMG North*
Azimuth
(degrees)
Dip
(degrees)
RL
(m)
From
(m)
To  
(m)
Interval
(m)
U3O8
(%)
True Width (m)

       REDTREE

WDD08-045
192390
8060476
270
-70
171.0
17
56
39
0.09
37
WDD08-046
192298
8060443
270
-70
165.1
9
24
15
0.28
14
WDD08-047
192297
8060441
220
-70
165.2
No significant intersections
WDD08-048
192345
8060563
180
-45
167.5
26
40
14
0.05
10
And
46
55
9
0.07
6
And
80
105
25
0.08
18
WDD08-049
192345
8060564
180
-70
167.6
20
42
22
0.05
20
And
53
75
22
0.05
20
WDD08-050
192345
8060561
270
-45
168.0
24
32
8
0.05
6
And
83
89
6
0.03
4
WDD08-051
192344
8060567
270
-70
167.5
21
24
3
0.17
3
And
28
33
5
0.06
4
WDD08-052
192390
8060476
360
-90
171.0
4
21
17
0.21
17
WDD08-053
192347
8060567
360
-45
167.5
Results not yet received
WDD08-054
192348
8060568
360
-70
167.7
20
25
5
0.10
4

       JUNNAGUNNA

JDD08-001
196410
8065365
90
-60
75.4
20
30
10
0.04
8
And
103
113
10
0.10
6
JDD08-002
196410
8065364
90
-45
75.5
52
63
11
0.21
7
And
82
92
10
0.36
7
JDD08-003
196409
8065365
90
-73
75.4
70
76
6
0.18
4
And
86
89
3
0.10
2
JDD08-004
196408
8065365
270
-60
75.4
No significant intersections
JDD08-005
196488
8065417
90
-80
74.9
No significant intersections
JDD08-006
196490
8065416
90
-65
75.0
59
65
6
0.09
4
JDD08-008
196489
8065418
270
-70
75.1
20
24
4
0.08
3

* Datum is AGD66
* Intersections calculated using a 0.02%U308 cut-off and minimum intersection of 3 metres.

See figs 1 to 3 for location of drill holes at Redtree and Junnagunna and for cross sections.

Laramide is currently completing interpretations of the new geological information derived from this first phase of diamond drilling. It is planned to commence a further 6,000 metre drill program in early September 2008. Following this, a revised mineral resource update will be completed and is expected to be published in the first quarter of 2009, incorporating assays from both the first and second round of drilling.

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.

About Laramide:
Laramide 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, Westmoreland, in Queensland, Australia, is 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.

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.