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2009 Press Releases

Laramide Completes Previously Announced Financing

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Laramide Resources Ltd. ("Laramide") (TSX:LAM) is pleased to announce today that it has completed its previously announced bought-deal offering (the "Offering") of 5,000,000 units at a price of $1.75 per unit for gross proceeds of $8,750,000. Each unit consists of one common share in the share capital of Laramide (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Common Share upon payment of the exercise price of $2.50 on or before 5:00 p.m. (Toronto time) on March 5, 2012, subject to adjustment.

The units were sold through a syndicate of underwriters co-led by GMP Securities L.P. and Dundee Securities Corporation and including Cormark Securities Inc. and Haywood Securities Inc. (collectively, the “Underwriters”). The Underwriters have also been given an option exercisable, in whole or in part, at the sole discretion of the Underwriters, at any time prior to the 30th day following the closing of the Offering, to purchase up to an additional 750,000 units at a price of $1.75 per unit.

The securities offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, or the securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

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

Tel:      416-599-7363

More information may be found at www.laramide.com.

This press release contains forward-looking statements.  Forward-looking statements involve known or unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Laramide to be materially different from those projected by such forward-looking statements.  Such factors include, among others, access to capital and future prices of uranium, gold and other base metals and those factors disclosed under the heading "Risk Factors" and elsewhere in Laramide documents filed from time to time with applicable regulatory authorities.