2008 Press Releases

Laramide Adds Third Rig at Westmoreland as Results Continue to Demonstrate Continuity of Mineralization

Created on Monday, 26 May 2008 07:00

- 12 New Drill Holes Released: Results Include 27 metres @ 0.14 % U₃O₈ -

Laramide Resources Ltd. (TSX:  LAM)  is pleased to release results from the next 12 diamond holes from its 100 % owned Westmoreland project located in North West Queensland, Australia. These results included drill hole WDD08-24 which intersected 27 metres @ 0.14 % U₃O₈ and drill hole WDD08-27 which intersected 13 metres @ 0.17% U₃O₈ from 8m plus 18 metres @ 0.32% U₃O₈ from 30m  

All 12 drill holes were drilled with either NQ of HQ core into the Garee Lens, which forms part of the Redtree Deposit at the Westmoreland project. Mineralization within the Garee lens is flat lying and hence the true width of mineralization is generally between 80 % and 100 % of the intersection within the drill holes.

Results of laboratory analysis of core samples up to and including WDD08-28 have been received.  Results are tabulated below.

* Datum is AGD66

Peter Mullens VP Exploration stated "The results are generally within ranges of expectation and continue to confirm our belief in the technical merits of the project. Mineralization in the northern part of the Garee Lens is generally lower in grade than the southern half, however current drilling has identified some higher grade material which was has previously not known.  Higher grade mineralization in drill holes WDD08-27 and WDD08-28, confirms the presence for high grade pods within the broader moderate grade mineralized zone". 

Drilling is continuing with 3 drill rigs. A Longyear LF 70 Drill Rig and a man portable diamond drilling rig are operating on single shifts with helicopter assistance at Redtree. A second LF 70 drill rig operating on two shifts is drilling at the Junnagunna prospect. Junnagunna is a flat lying zone of mineralization, which is between 5 and 10 metres thick, is located close to surface and is located approximately 5 km to the north of the Garee Lens along the Westmoreland dyke structure. See attached figures for details. It is planned to complete around 3,000 metres of drilling at Junnagunna.

As of May 25, 2008 Laramide had completed a total of 63 diamond drill holes for a total of 5,552 metres at Redtree and 8 drill holes for 858 metres at Junnagunna. Most of the drilling has been completed with NQ sized core. Several holes were completed with HQ size core so that in addition to assaying, half of the core will also be used for metallurgical test work.

The current drill program is expected to be completed by July 2008. While this program is being executed, Laramide will also be conducting initial metallurgical test work and mine engineering studies. Currently core is being saved from drill holes to be sent for metallurgical test work.

Laramide has implemented a quality control program at Westmoreland to ensure best practices. Under the guidelines of the National Instrument 43-101, the Qualified Person for the Westmoreland Uranium Project is Mr. Peter Mullens who is a member of the Australian Institute of Mining and Metallurgy. Mr. Mullens has reviewed and approved the technical content of this release.

Laramide would also like to invite all shareholders to attend its Annual Meeting of Shareholders this afternoon at 4:00 p.m. Eastern Time at the National Club, 303 Bay Street Toronto, Ontario.

For further information contact:

This press release contains forward-looking statements.  The actual results could differ materially from a conclusion, forecast or projection in the forward-looking information.  Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information.