Laramide’s Drilling at Westmoreland Uranium Project Continues to Demonstrate Scope for Resource Growth

• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
• Aspects of the determination of mineralisation that are Material to the Public Report.
• In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

• RC drilling techniques returned samples through a 75-25 riffle splitter setup with sample return routinely collected in 1m intervals approximating 20-30kg of sample. 1m interval RC samples were homogenized and collected by a riffle splitter to produce a representative 3-5kg sub-sample. Where samples exceeded 5kg, these were subset to an acceptable sample size.
• Across all drilling sampling is guided by geology, visual estimation of mineralisation & radioactivity defined by: 
• >350cps utilising handheld RS-125 SUPER-spec unit. 
• >350cps utilising the Auslog W450-1 Downhole gamma probe. 
• > 350 cps utilising the Reflex EZ-Gamma Downhole Gamma Probe. 
• Visual fluorescent mineralisation observed under UV light. 
• Samples are sent to ALS Laboratories Mt Isa or Townsville for Au assay via 50g fire assay with AA Finish (method Au-AA26), and multi-element assay via ICP-MS (ME-MS61) methods considered industry standard. 
• High radioactivity samples were sent by Mt Isa prep lab to ALS Perth with any oregrade U analysed via XRF-30 method. 
• Certified QA/QC standards, blanks, field and lab duplicates were inserted at nominal 1:20 or better intervals with samples in conjunction with laboratory duplicates and internal QA/QC 
• All sampling, assay and QA/QC procedures considered industry standard and/or best practice and appropriate for the style of mineralisation 

• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

• The drilling is completed using a UDR650 Multi-Purpose drill rig 350/1050 Compressor and 8V Booster.
• Drilling diameter for the RC pre-collar portion is 5.5-inch RC hammer (face sampling bits are used)

• Method of recording and assessing core and chip sample recoveries and results assessed.
• Measures taken to maximise sample recovery and ensure representative nature of the samples.
• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

• For recent RC drilling no significant recovery issues for samples were observed.
• Drill chips are collected in chip trays are considered a reasonable representation of the entire 1 m interval.
• Best practice methods were used for RC and DD coring to ensure the return of high-quality samples. Sample bias is assumed to be within acceptable limits.
• All data is continuously recorded and entered into a managed, cloud-based database (MXDeposit).
• The sample size and sampling techniques are considered appropriate and industry standard practice for the style of mineralisation.

• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
• The total length and percentage of the relevant intersections logged.

• All drilling is logged for geology in the field by qualified geologists with lithological and mineralogical data recorded for all drill holes using a coding system developed specifically for the project.
• All RC holes have been geologically logged to industry standard for lithology, mineralization, alteration and other sample features as appropriate to the style of deposit.
• Primary and secondary lithologies are recorded in addition to texture, structure, colour, grain size, alteration type and intensity, estimates of mineral quantities, sample recovery, weathering and oxidation state, radioactivity where possible.
• Sampling details are also collected and entered.
• Geological logging is qualitative in nature and considered appropriate for the level of detailed required.
• All chip samples are photographed wet shortly after drilling, labelled and filed for future record.
• All holes are logged and entered into MX Deposit software – an industry leading integrated cloud based logging/database system with built-in validation.
• Observations were recorded in a field laptop, appropriate to the drilling and sample return method and is qualitative and quantitative, based on visual field estimates.
• All chips have been stored in chip trays on 1m intervals.
• 100 % of the samples have been logged.

• If core, whether cut or sawn and whether quarter, half or all core taken.
• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.
• For all sample types, the nature, quality and appropriateness of the sample preparation technique.
• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
• Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.
• Whether sample sizes are appropriate to the grain size of the material being sampled.

• RC drilling techniques returned samples through a 75-25 riffle splitter setup with sample return routinely collected in 1m intervals approximating 20-30kg of sample. 1m interval RC samples were homogenized and collected by a riffle splitter to produce a representative 3-5kg sub-sample. Where samples exceeded 5kg, these were subset to an acceptable sample size.
• RC duplicate sub-samples were rifle split.
• The remaining sample is retained in green plastic bags at the drill site and laid out in sequence from the top of the hole to the end of the hole until assay results have been received A sample is sieved from the reject material and retained in chip trays for geological logging and future reference and stored at the company’s base located at Hells Gate.
• Certified QA/QC standards, blanks, field and lab duplicates were inserted at nominal 1:20 or better intervals with samples in conjunction with laboratory duplicates and internal QA/QC.
• All samples were double-checked for numbering, missing and data integrity issues prior to dispatch
• The sample and sub-sample size and sampling techniques are considered appropriate and industry standard practice for the style of mineralisation.

Sample preparation

• Samples were prepared and analysed at ALS Mt Isa, Townsville or Brisbane, with High radioactivity samples forwarded to ALS Perth for analysis. 
• Samples were dried at approximately 120°C with the sample then riffle split and then passed to a series LM5 pulverisers and ground to pulp of a nominal 85% passing of 75μm, typically with a 1-3kg sample size 
• The milled pulps are weighed out to 50g for Au analysis via fire assay (method Au-AA26 via AA Finish) and broad suite multi-element via ME-MS61 (four acid – ICP-MS). Any oregrade U is analysed via ME-XRF-30 method. 
• Field sample and laboratory sample and preparation techniques are considered appropriate and industry standard practice for the style of mineralisation.

• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
• Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

• The milled pulps are weighed out to 50g for Au analysis via fire assay (method Au-AA26 via AA Finish) and broad suite multi-element via ME-MS61 (four acid – ICP-MS). Any oregrade U is analysed via ME-XRF-30 method.  
• Assaying techniques and laboratory procedures used are appropriate for the material tested and the style of mineralisation.
• NORM samples were subset and analysed at ALS Perth. 
• Certified QA/QC standards, blanks, field and lab duplicates were inserted at nominal 1:20 or better intervals with samples in conjunction with laboratory duplicates and internal QA/QC.
• One pulp duplicate sample exceeded variation over 10% and is currently being investigated with ALS.
• Certified Reference Materials (CRMs) were sourced through OREAS Pty Ltd, with samples of a similar nature to the uranium mineralisation and/or similar grade ranges to ensure representivity.
• Laboratory analytical techniques are considered appropriate and industry standard practice for the style of mineralisation.
• Sampling is guided by geology, visual estimation of mineralisation & radioactivity defined by: 
• >350cps utilising handheld RS-125 SUPER-spec unit. 
• >350cps utilising the Auslog W450-1 Downhole gamma probe. 
• > 350 cps utilising the Reflex EZ-Gamma Downhole Gamma Probe. 
• Visual fluorescent mineralisation observed under UV light. 
• No external third-party QA/QC reviews have been undertaken.

• The verification of significant intersections by either independent or alternative company personnel.
• The use of twinned holes.
• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
• Discuss any adjustment to assay data.

• No independent analysis of the historical results have been done at this stage of the project work.
• Field data is entered digitally using MX Deposit software which is an industry leading integrated cloud based logging/database system.
• Physical copies are retained and filed, and digital document control procedures are in place
• Regular reviews and auditing of the database occur to ensure clean, tidy and correct information
• Three twinned holes were completed within the program where historical holes were drilled short and finished in mineralisation; and replaced historic drilling where sampling was poor.

• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
• Specification of the grid system used.
• Quality and adequacy of topographic control.

• Drill hole collar location data is initially captured with handheld GPS and subsequently collected at end of program via a Trimble DGPS, accurate to within 10cm.
• Grid system used is GDA94 Zone 54
• Downhole surveys were completed for all Laramide drill holes with a nominal 30m or better downhole spacing using Reflex Ez-Track camera tool or a Reflex North-seeking Gyro.

• Data spacing for reporting of Exploration Results.
• Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
• Whether sample compositing has been applied.

• Location of drill collars presented.
• No Mineral Resource or Ore Reserve estimations are being reported.
• No sample compositing has been applied.

• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
• If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

• Mineralisation at Long Pocket is interpreted as generally flat lying, sandstone hosted uranium with association with proximal mafic dyke/sill units.
• All RC drilling is optimally oriented to ensure the most appropriate and most perpendicular intersection angle to mineralisation as possible with respect to available drilling locations. The drilling orientation is considered appropriate with the current geological information.
• Limited bias is interpreted.

• The measures taken to ensure sample security.

• LCR chain of custody and sample security was ensured by staff preparation of samples into checked and zip-tied polyweave bags transported by staff personnel direct to ALS Mt Isa.
• No issues were reported or identified

• The results of any audits or reviews of sampling techniques and data.

• No third-party audit or review of sampling data was conducted.

• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
• The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

• Laramide Resources Ltd through its wholly owned subsidiary Tackle Resource Pty Ltd owns a 100% interest in the Westmoreland Project consisting of 2 granted and contiguous Exploration Permits for Minerals (EPMs) – EPM 14558 and EPM 14672.
• Tenements are in excellent standing
• Existing environmental surveys conducted to date have not identified any impediments to the project
• Existing cultural heritage surveys conducted to date have identified areas defined as exclusion zones until further surveys and negotiations are conducted

• Acknowledgment and appraisal of exploration by other parties.

• The project has been subject to exploration by a number of companies including historic operators in the early 1960 and 1970s (Queensland Mines Ltd) and several other companies throughout the 1980s and 1990s including CRA/Rio Tinto. Recent exploration has consisted of significant resource definition drilling during the period of Tackle’s tenure 2005 – present

• Deposit type, geological setting and style of mineralisation.

• The Westmoreland region lies within the Palaeoproterozoic Murphy Tectonic Ridge, which separates the Palaeoproterozoic Mt Isa Inlier from the Mesoproterozoic McArthur Basin and the flanking Neoproterozoic South Nicholson Basin.
• The oldest rocks exposed in the area are early Proterozoic sediments, volcanics and intrusives, deformed and regionally metamorphosed before 1875 Ma. These Murphy Metamorphics (Yates et al., 1962) are represented mainly by phyllitic to schistose metasediments and quartzite. They are overlain by two Proterozoic cover sequences laid down after the early deformation and metamorphism of the basement and before a period of significant tectonism, which began at about 1620 Ma.
• The oldest cover sequence is the Cliffdale Volcanics unit, which unconformably overlies the Murphy Metamorphics. The Cliffdale Volcanics contain over 4000m thickness of volcanics of probably subaerial origin, more than half of which consists of crystal-rich ignimbrites with phenocrysts of quartz and feldspar. The remainder is rhyolite lavas, some of which are flow banded. The ignimbrites are more common in the lower part of the sequence, with the Billicumidjii Rhyolite Member occurring towards the top.
• The Cliffdale Volcanics are comagmatic with the Nicholson Granite, and together they comprise the Nicholson Suite. SHRIMP dating of both the Nicholson Granite and the Cliffdale Volcanics gave an age of 1850 Ma (Scott et al., 1997).
• Unconformably overlying the Nicholson Suite is the Tawallah Group (Yates et al., 1962). This is the oldest segment of the southern McArthur Basin. The base is a sequence of conglomerates and sandstones comprising the Westmoreland Conglomerate (Carter et al., 1958). The conglomerates thin out to the southeast and are in turn conformably overlain by the Seigal Volcanics (Grimes & Sweet, 1979), an andesitic to a basic sequence containing interbedded agglomerates, tuffs and sandstones. Together these units comprise about two-thirds of the total thickness of the Tawallah Group. In turn, the volcanics are overlain by the McDermott Formation, the Sly Creek Sandstone, the Aquarium Formation, and the Settlement Creek Volcanics.
• Uranium mineralisation has been recognised in the Westmoreland region in numerous structural and stratigraphic positions. These include:
• associated with faults and fractures in Murphy Metamorphics;
• in shear zones in the Cliffdale Volcanics near the Westmoreland Conglomerate unconformity;
• at the reverse-faulted contact between Cliffdale Volcanics and Westmoreland Conglomerate;
• within Westmoreland Conglomerate about 50m above its base;
• in Westmoreland Conglomerate in close proximity to the overlying Seigal Volcanics;
• in association with mafic dykes and sills; and
• in shear zones within the Seigal Volcanics.

• The most important uranium deposits occur on the northern dip slope of the Westmoreland Conglomerate in situation five above. The deposits represent thicker and higher-grade concentrations of trace uranium mineralisation than is regionally common beneath the Seigal Volcanics – Westmoreland Conglomerate contact and along the flanks of the Redtree dyke zone. Mineralisation in other settings is only present in trace amounts (Rheinberger et al., 1998).
• The deposits are associated with an altered basic dyke system intruded along faults. Mineralisation is present in both the sandstones and dyke rocks. To the north, the Westmoreland Conglomerate is overlain by the Seigal Volcanics under Recent alluvial cover.

• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
  • easting and northing of the drill hole collar
  • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar
  • dip and azimuth of the hole
  • down hole length and interception depth
  • hole length.
• If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

• All relevant drill hole information including locations and significant intercepts are provided in tables within this document.
• Drilling is reporting of exploration results only.
• Incomplete assay information is available at time of writing.

• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.
• Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
• The assumptions used for any reporting of metal equivalent values should be clearly stated.

• Generally, sampling was conducted at 1m intervals, but in places, sampling was defined by geological contact.  
• Where samples cut to geological contact were <1m it is noted. 
• Intervals were aggregated using weighted average length.  
• Mineralisation compositing for initial interpretation used a 1m minimum width, 100ppm U3O8 grade and 2m maximum internal dilution in conjunction with structure and geological interpretation. Included high grade intercepts are above 1000 ppm U3O8. No cut-off has been applied to Au and are reported internal within U3O8 intercept. 
• Data from individual samples are presented in Table 2 
• No metal equivalents are calculated. 

• These relationships are particularly important in the reporting of Exploration Results.
• If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
• If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).

• All drilling is optimally oriented to ensure the most appropriate and most perpendicular intersection angle to mineralisation as possible with respect to available drilling locations  
• All reported results are down-hole lengths, with the majority of intersections being between 75-95% of estimated true widths. 

• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

• Map present drilling locations relative to historical drilling and in context of overall project.
• Cross sections included present assay data down hole highlight basic geology and zones of currently interpreted mineralisation using a combination of geological logging and qualitative downhole gamma data.

• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

• All drillhole and assay data from Westmoreland drilling to the time of update have been reported and can be accessed via www.sedar.com.
• All results reported within this document relate to recent drilling activities and are represented as mineralised intervals with U3O8 values exceeding 100ppm. Mineralisation compositing for initial interpretation used a 1m minimum width, 100ppm U3O8 grade and 2m maximum internal dilution in conjunction with structure and geological interpretation. Included high grade intercepts are above 1000 ppm U3O8. No cut-off has been applied to Au and are reported internal within U3O8 intercept. 

• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

• No other substantive data is available

• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).
• Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

• Additional exploration, resource, geotechnical and metallurgical drilling is proposed and required.
• Further metallurgical test work, engineering and economic scoping to pre-feasibility studies including environmental, heritage and compliance requirements are also in preparation