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2008 Press Releases

Drilling Results at Westmoreland Continue to Meet or Exceed Expectations

Hole WDD08-75 Returns 48 metres @ 0.11% U3O8

Laramide Resources Ltd. (TSX:  LAM) (“Laramide” or “the Company”) is pleased to announce assay results from 31 diamond drill holes, 16 of which were drilled in the Redtree project area, and 15 in the  Junnagunna project area of Laramide’s  100 % owned Westmoreland project in North Queensland, Australia. These drilling results include WDD08-075 which contains 48 metres @ 0.11% U3O8 from 18 metres, and WDD08-084 which intersected 31 metres @ 0.08 % U3O8 from 19 metres depth in the Redtree project area.

They also include significant results from Junnagunna including JDD08-019 which intersected 10 metres @ 0.39 % U3O8 from 99 metres and JDD08-026 which intersected 25 metres @ 0.17 % U3O8 from 24 metres depth.

Marc Henderson, President & CEO, commented “We have now drilled and reported over 100 holes since commencing this program on Westmoreland, and can demonstrate that Westmoreland is one of the most robust, technically straightforward uranium deposits in Australia or on a global basis.   The financial turmoil in the market has impacted us as well as our peers, but we see the quality of our assets as a significant differentiating factor.  Politics in Australia are improving as we saw in Western Australia, and we continue to see Australia emerge as the politically secure, low cost jurisdiction of choice for the world’s nuclear utilities.” 

Results from 31 holes are tabulated below, with all drill holes drilled with either NQ or HQ core.

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
                   
WDD08-073 192391 8060569 309 -60 165 20 34 14 0.08 12

And

          43 51 8 0.20 7

And

          55 65 10 0.06 9

And

          83 90 7 0.03 6
Drill Hole AMG
East*
AMG
North*
Azimuth
(degrees)
Dip (degrees) RL
(m)
From (m) To
(m)
Interval
(m)
U3O8
(%)
True Width (m)
WDD08-074 192392 8060568 0 -90 165 17 25 8 0.11 8

And

          34 39 5 0.06 5

And

          42 47 5 0.04 5

And

          56 73 17 0.05 17
WDD08-075 192392 8060567 129 -60 165 18 66 48 0.11 42
WDD08-076 191818 8060152 129 -50 205 27 54 27 0.09 17

And

          77 80 3 0.30 2

And

          95 104 9 0.11 8
WDD08-077 191817 8060152 129 -70 205 17 37 20 0.11 19

And

          55 58 3 0.18 3

And

          64 73 9 0.12 8
WDD08-078 191817 8060153 0 -90 205 16 29 13 0.13 13
WDD08-079 191813 8060155 309 -45 205 16 30 14 0.12 13
WDD08-080 192390 8060570 309 -45 165 25 46 21 0.05 15
WDD08-081 192330 8060530 129 -60 168 21 31 10 0.13 8

And

          35 42 7 0.14 6

And

          50 69 19 0.21 15

And

          73 77 4 0.10 3
WDD08-082 192329 8060530 0 -90 168 19 58 39 0.07 39

And

          71 76 5 0.21 5
WDD08-083 192328 8060533 309 -70 169 26 33 7 0.11 6
WDD08-084 192327 8060533 309 -45 169 19 50 31 0.08 2.2

And

          54 61 7 0.05 5

And

          71 83 12 0.04 9

And

          88 92 4 0.11 3
WDD08-085 191991 8060154 309 -40 192 70 76 6 0.22 4

And

          91 96 5 0.14 3

WDD08-086

191991 8060154 309 -50 192 No Significant Results

WDD08-087

191991 8060154 309 -60 192 No Significant Results

WDD08-088

191991 8060153 309 -80 192 No Significant Results
 
 JUNNAGUNNA
JDD08-019 196559 8065500 129 -70 77 27 31 4 0.08 4

And

          45 49 4 0.06 4

And

          99 109 10 0.39 6
JDD08-020   196560 8065500 129 -45 77 56 67 11 0.17 10
JDD08-021 196560 8065500 129 -58 77 30 38 8 0.14 6

And

          48 51 3 0.05 2

And

          65 69 4 0.04 3
JDD08-023 196640 8065562 129 -65 77 52 67 15 0.31 14

And

          80 86 6 0.48 5
JDD08-024 196639 8065562 129 -45 77 41 45 4 0.09 3

And

          48 51 3 0.05 2

And

          59 62 3 0.04 2

And

          66 69 3 0.03 2

Drill Hole AMG
East*
AMG
North*
Azimuth
(degrees)
Dip (degrees) RL
(m)
From (m) To
(m)
Interval
(m)
U3O8
(%)
True Width (m)
JDD08-025 196665 8065613 129 -60 76 No Significant Results
JDD08-026 196665 8065614 0 -90 76 24 49 25 0.17 18
JDD08-027 196806 8065753 129 -45 77 No Significant Results
JDD08-028 196806 8065753 129 -65 77 61 67 6 0.04 4
JDD08-029 196805 8065754 0 -90 77 34 37 3 0.06 3
JDD08-030 196406 8065222 129 -70 76 40 45 5 0.04 4
JDD08-031 196405 8065223 309 -85 76 28 31 3 0.17 2

And

          40 68 28 0.09 25

And

          73 78 5 0.14 4
JDD08-032 196272 8065081 129 -60 76 No Significant Results
JDD08-033 196272 8065081 129 -78 76 53 58 5 0.22 3

And

          93 106 13 0.34 11
JDD08-034 196272 8065080 309 -45 76 No Significant Results

*Datum is AGD66
*Intersections calculated using a 0.02% U3O8 cut-off and minimum intersection of 3 metres.

Figures 1 and 2, indicating location of drill holes at Redtree and Junnagunna, follow this press release. Please visit our website, www.laramide.com for further diagrams and cross sections.

Peter Mullens, VP Exploration, stated “Results from Redtree holes WDD08-076 and 079 indicate that extensions to known mineralization may occur to the South which has not been previously drilled. This allows potential for increasing the overall size of the mineral resource. Junnagunna also had higher-grade structurally controlled mineralization intersected in drill holes JDD08-023 and JDD08-033. Mineralization from this drilling is also deeper than previously intercepted and open to the South.”

Drilling is currently continuing with two diamond drill rigs, and will focus on drilling out the Jack Lens in a 50 hole program, in order to further the understanding of the distribution of mineralization contained in the lens.  The Jack Lens forms the Western part of the Redtree project area and on extending the recently identified Western Garee Lens. Work has also commenced on an environmental base line study and seven to ten drill holes will be completed for hydrology investigations.   Upon conclusion of this program, Laramide intends to complete a resource estimate in Q1 2009.

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.