Laramide Resources Ltd. provided an update on the progress of the 2023 drilling campaign at the Westmoreland Project in NW Queensland. Over 4,108m of diamond drilling, for 40 holes have been completed at four discrete targets: Amphitheatre, Long Pocket, Black Hills and Huarabagoo. The objective of the program was to investigate targets identified from radiometric anomalies testing the potential for a satellite deposit; to explore opportunities to extend the envelope of known mineralization; and to investigate the opportunities to expand the current uranium resources described in the Westmoreland PEA mine plan. Results from drill holes AM23DD003 to AM23DD007, completed in August, have now been received and show multiple zones of shallow mineralisation including: (AM23DD004) 2.8m @ 392ppm U3O8 from 43m depth; (AM23DD005) 2.55m @ 439ppm U3O8 from 8.45m depth including 0.6m @ 920ppm U3O8.

Importantly, AM23DD004 and AM23DD005 have highlighted mineralisation over 200m south of previously reported drill hole results[1] and are unconstrained to the east and south. Amphitheatre, which is located 16km to the NE of the Westmoreland Project (51.9Mlbs U3O8 [2]), is a potential satellite deposit. Recent field investigations have identified a zone of elevated radioactivity (>12,000cps[3]) approximately 400m northwest of Amphitheatre with outcropping secondary uranium mineralisation at surface.

This increases the size potential of the Amphitheatre target and further groundwork is planned ahead of follow up drilling in 2024. New Discovery: "Off-Scale" Radioactivity at U-Valley: Recent reconnaissance exploration at the U-Valley target has discovered extensive zones of surface radioactivity in Westmoreland Conglomerate including isolated "off scale"[4] (>65,535cps) points using a Super-Spec RS-125 Spectrometer. The U-Valley target is located 2km south of the Long Pocket prospect and presents as a 1.5km2 airborne radiometric anomaly.

Geological mapping and ground scintillometer surveys are currently underway to refine the target zones ahead of potential scout drilling in the 2024 field season.