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2008 Press Releases

First Phase of Diamond Drilling at Westmoreland Nears Completion

Hole WDD08-040 Returns 23 Metres @ 0.53 % U3O8 from 11 Metres Depth  

Laramide Resources Ltd. (TSX:  LAM)  is pleased to release results from the next 15 diamond drill at its 100 % owned Westmoreland project located in North West Queensland, Australia. These results included Drill Hole WDD08-40 which intersected 23 metres @ 0.53 % U3O8 from 11 metres depth and Drill Hole WDD08-44 which intersected 34 metres @ 0.28% U3O8 from 12 metres.  

All 15 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 generally between 80% and 100% of the intersection within the drill holes.

Results of laboratory analysis of core samples up to and including WDD08-044 have been received.  Results are tabulated below.

Drill Hole
AMG East*
AMG North*
Azimuth (degrees)
Dip (degrees)
RL   (m)
From (m)
To     (m)
Interval (m)
U3O8
(%)
True Width (m)
WDD08-029
192498
8060748
0
-90
151
9
18
9
0.19
9.0
AND
33
46
13
0.10
13.0
WDD08-030
192495
8060749
270
-45
151
12
25
13
0.05
9.1
WDD08-031
192496
8060749
270
-60
151
13
23
10
0.06
8.7
AND
34
44
10
0.06
8.7
AND
53
61
8
0.06
7.0
AND
65
71
6
0.04
5.2
AND
84
87
3
0.14
2.6
WDD08-032
192495
8060749
270
-75
151
8
20
12
0.13
11.6
AND
34
52
18
0.17
17.4
WDD08-033
192527
8060802
270
-45
145
46
51
5
0.05
3.5
WDD08-034
192527
8060802
270
-70
145
9
17
8
0.10
7.5
AND
35
44
9
0.07
8.5
WDD08-035
192527
8060802
0
-90
145
12
20
8
0.04
8.0
WDD08-036
192527
8060802
90
-45
145
24
28
4
0.04
2.8
AND
35
45
10
0.04
7.0
WDD08-037
192527
8060802
90
-70
145
12
36
24
0.06
22.6
WDD08-038
192396
8060606
90
-60
130
41
57
16
0.04
13.9
AND
61
67
6
0.14
5.2
AND
72
76
4
0.08
3.48
WDD08-039
192396
8060606
0
-90
130
24
29
5
0.07
5.0
AND
34
42
8
0.05
8.0
AND
47
68
21
0.05
21.0
WDD08-040
192291
8060446
270
-45
164
11
34
23
0.53
16.1
AND
92
101
9
0.53
6.3
WDD08-041
192389
8060477
270
-45
136
23
54
31
0.12
21.7
AND
66
105
39
0.10
27.3
WDD08-043
192291
8060466
0
-70
164
10
24
14
0.30
13.2
WDD08-044
192291
8060466
0
-45
164
12
46
34
0.28
23.8
AND
51
57
6
0.06
4.2

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

Drill Holes 29-36 are from the northern part of the Garee Lens where mineralization is not as strong as in the southern half of the Garee Lens, containing Drill Holes 37-44. 

Peter Mullens, VP Exploration, stated “These results are generally within our range of  expectation and continue to confirm our belief in the technical merits of the project. Mineralization is particularly encouraging in the southern half of the Garee Lens where the results have exceeded our expectations. This is encouraging for locating further mineralization and potentially increasing the overall size of the resource.”

Drilling is continuing with three drill rigs.  One Longyear LF 70 Drill Rig and a man portable diamond drilling rig are operating on single shifts with helicopter assistance at Redtree. A second LF 70 drill rig operating on two shifts is drilling at the Junnagunna prospect.

As of June 24 2008, Laramide had completed a total of 84 diamond drill holes for a total of 7,213.2 metres at Redtree and 26 drill holes for 2,502.2 metres at Junnagunna. 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 early July 2008. 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.