Laramide Resources Ltd.
TSX VENTURE : LAM
TSX : LAM

Laramide Resources Ltd.

April 24, 2008 09:05 ET

Laramide Intersects 58 Metres @ 0.12 % U3O8 at Westmoreland

TORONTO, ONTARIO--(Marketwire - April 24, 2008) - Laramide Resources Ltd. (TSX:LAM) is pleased to release results of the next eight diamond drill holes from its 100% owned Westmoreland project located in North West Queensland, Australia. These results included Drill Hole WDD08-11 which intersected 58 meters @ 0.12 % U3O8. All 8 drill holes were drilled with either NQ or 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 between 80 % and 100 % of the intersection within the drill holes (see "true width" column in table below).

Results of laboratory analysis of core samples up to and including WDD08-0016 have been received, and are tabulated below.



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Drill Section AMG AMG Azi- Dip RL From To Inte- U3O8 True
Hole East North muth (deg- (m) (m) (m) rval (%) Width
(i) (ii) (de- rees) (m)
grees)
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WDD08-8 7710N 192300 8060523 313 -75 164 13 78 65 0.10 63
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Inclu-
ding 59 69 10 0.31 9
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WDD08-9 7710N 192300 8060523 0 -90 164 13 22 9 0.09 9
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And 28 63 35 0.07 35
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WDD08-11 7710N 192300 8060523 313 -45 164 33 91 58 0.12 41
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Inclu-
ding 66 82 16 0.30 11
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WDD08-12 7770N 192487 8060725 0 -90 168 25 30 5 0.05 5
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And 35 39 4 0.10 4
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And 45 78 33 0.05 33
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WDD08-13 7770N 192486 8060725 135 -60 168 21 74 53 0.11 46
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Inclu-
ding 56 67 11 0.32 9.5
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WDD08-14 7770N 192486 8060725 135 -60 168 27 35 8 0.09 7
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And 40 54 14 0.04 12
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WDD08-15 7770N 192485 8060729 315 -45 168 17 23 6 0.09 4
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And 27 32 5 0.06 3.5
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And 38 46 8 0.05 6
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And 51 55 4 0.11 4
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WDD08-16 7770N 192485 8060729 315 -45 168 28 33 5 0.14 4
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and 43 50 7 0.05 6
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(i) Datum is AGD66
(ii) No assay results for WDD08-10 - hole abandoned at 20m.


Peter Mullens, VP Exploration stated "The results to date continue to demonstrate continuity of mineralization identified in historical drilling and confirmed in the resource calculation completed by Mining Associates in October 2006. We expect much of the mineralization in the Inferred category to be converted to Indicated in the next resource calculation planned for third quarter 2008."

Drilling is continuing with a Longyear LF 70 drill rig operating on single shifts. A second LF 70 drill rig will commence drilling at the Junnagunna prospect located within the Westmoreland Project next week. Junnagunna is a flat lying zone of mineralization, that is between 5 and 10 metres thick, is located close to surface and occurs approximately 5 kms to the north of the Garee lens along the Westmoreland dyke structure. See fig for details. The program estimates completion of approximately 3,000 metres of drilling at Junnagunna.

Junnagunna contains a total calculated resource of 4.4 million tons @ 0.081 % U3O8 (Indicated) and 2.1 million tons @ 0.075% U3O8 (Inferred)as defined by the above-mentioned NI 43101 compliant resource calculation (See SEDAR filed technical report dated October 25 2006).

As of April 19, 2008, Laramide had completed a total of 39 diamond drill holes for a total of 3,624 metres. 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 in the third quarter of 2008. While this program is being executed, Laramide will also conduct 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.

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.

To view a map of "Westmoreland Diamond Drilling Progress", please visit the link below:

http://www.ccnmatthews.com/docs/westmorelandmap.jpg

Contact Information

  • Laramide Resources Ltd.
    Flora Wood
    Investor Relations
    Toronto, Canada: (416) 599-7363
    or
    Laramide Resources Ltd.
    Peter Mullens
    VP Exploration
    Brisbane, Australia: +61 (7) 3831 3407
    Website: www.Laramide.com