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Laramide Resources Ltd. (“Laramide” or the “Company”) is a Toronto-based resource company specializing in the acquisition of known Uranium projects. In the future Laramide plans to concentrate on the acquisition, discovery and development of Uranium projects.
With the recent improvement in the Uranium price, from US$ 10.00 in 2003 to currently more than US$ 120.00 per pound, Laramide has acquired an impressive list of known Uranium assets with drilled out resources. Currently Laramide has approximately 60 million pounds of U3O8 located in NI 43-101 compliant resources. It also has some very exciting exploration projects, located both within the USA and Australia with potential to double these known resources.
 The Company’s current main focus is the advancement of its Westmoreland Uranium Project in Queensland, Australia, which has become Laramide’s flagship asset. In October 2006, Mining Associates of Australia completed NI 43-101 compliant technical report that showed Westmoreland has an indicated resource of 15.6 M lbs @ 0.088% U3O8 and an inferred resource of 32.9 M lbs @ 0.094% U3O8which ranks it as one of the ten largest uranium deposits in Australia.
GRD Minproc recently completed a scoping study on Westmoreland. The scoping study was very robust economically, estimating annual production of around 3.0 million pounds of U3O8 at production costs of around US$20 per pound. The initial mine life is for 11 years with a strong liklehood of this being increased to greater than 15 years with further drilling. The direct and indirect capital cost for the project is estimated at US $ 214 million. Payback on current prices would be less than 2 years. Mining would be with conventional open pit and processing by an acid leach. These are both conventional methods which are not technically challenging.
In addition, Laramide has signed two joint ventures on projects which fall adjacent to the Westmoreland Project, however both are located within the Northern Territory. Laramide now has in excess of 680,000 hectares of highly prospective tenements located in the Northern Territory and Queensland.
Recent drilling by Laramide on the joint venture project, The North East Westmoreland, intercepted 5 metres at 0.18 % U3O8 in drill hole NEWM 204.
The plan for 2007 calls for further drilling at North East Westmoreland as well as significant drilling at several other projects on the Joint Venture area. A program of grass-roots exploration following up airborne radiometric anomalies is also planned.
As an expansion to its uranium portfolio, Laramide has purchased 4 advanced Uranium projects located in the USA, from Homestake Mining, a subsidiary of Barrick Mining. The two most important of these projects are the La Sal Project located in Utah, and the La Jara Mesa Project located in the Grants mining district of New Mexico. Laramide plans to advance both the La Sal and La Jara Mesa Projects towards permitting and a production decision as quickly as possible.
With the raising of CAD$ 21.0 million in December 2006, Laramide has a strong balance sheet. It is therefore well positioned to move forward and move its projects towards permitting and production decisions. | 
