Laramide Resources Ltd. announced that exploration drilling has commenced at Amphitheatre uranium prospect, Westmoreland in Queensland. Resource drilling will then proceed at the nearby Long Pocket and Huarabagoo deposits. Concurrently, fieldwork on strategic, historically known targets at the Murphy Project in Northern Territory are also underway.

Laramide is embarking on an aggressive program this year with an experienced field team to expand Laramide's global uranium resources as well as to investigate the potential for historically reported and strategic critical metals. Exploration drilling at Amphitheatre prospect is underway; The program includes 10 holes and is planned to validate historical drilling and extend zones of mineralisation identified in 2021; Resource Definition Drilling at Long Pocket to follow which will build toward a Maiden Mineral Resource Estimation; and Resource Extension drilling at Huarabagoo ahead of a planned global resource update; Drilling at Huarabagoo will also target gold mineralisation observed in 2012. Laramide has kicked off the 2023 field season with exploration drilling commencing at Amphitheatre with the company planning to complete up to 4,000m of diamond drilling across the Westmoreland project focused on resource definition and exploration at Long Pocket, and resource extension at Huarabagoo.

The Amphitheatre uranium prospect is located 16km northeast of the Junnagunna uranium deposit and expresses as a strong 400m x 300m airborne radiometric anomaly. Visible secondary uranium minerals such as carnotite and torbernite are present at surface, hosted within the PTW4 unit of the Westmoreland Conglomerate. Mineralisation identified in 2022 drilling appears to have a relationship with the mafic intrusive, sharing similarities with other nearby uranium deposits, namely Redtree, Huarabagaoo and Junnagunna which host a combined 51.9Mlb U3O8 resource1.

The area was subject to historical exploration in the late 1960s and early 1970s which included percussion drilling and diamond holes with narrow intercepts of up to 0.838% U3O82 displaying visible uraninite and torbernite. Significant results (>200ppm U3O8) from 2022 drilling included3: AMDD001 ? 3m @ 507ppm U3O8 from 59m, including 1m @ 1072ppm (0.107%) U3O8, Up to 10 holes for a total 1,000m drilling have been designed to validate historical drilling and establish the architecture of the mafic intrusive unit to understand geological controls on mineralisation.

Long Pocket is located 7km to the east of the Junnagunna Uranium deposit and 12km northeast of Redtree (Fig.1). Encouraged by the 2022 exploration drilling results, Laramide will follow up in the 2023 field season with a more substantial resource definition drilling program at Long Pocket. First pass exploration drilling is also planned for the nearby Black Hills uranium prospect.

Black Hills, located 1km to the northeast of Long Pocket, presents as a broad airborne radiometric anomaly. Historical (QML, 1970) drilling results include 3.13 @ 0.44% U3O8 (DDL018) and 7.77m @ 0.14% U3O8 (DDL013)4 which have not been followed up during Laramide's tenure. Significant drilling results (>200ppm U3O8) from 2022 included5: LP22DD001 ?

2m @ 403ppm U3O8 from surface, and 2.7m @ 718ppm U3O8 from 39.3m Importantly, the results extend the envelope of known sandstone-hosted uranium mineralisation to the northeast. Furthermore, it confirms the shallow and flat-lying nature of mineralisation.