Laramide Resources Ltd.

Laramide Resources Ltd.

January 11, 2006 13:32 ET

Laramide Makes Further Advisory Board Appointments; Files 43-101 Technical Report On Westmoreland Project

TORONTO, ONTARIO--(CCNMatthews - Jan. 11, 2006) - Laramide Resources Ltd. (TSX VENTURE:LAM) is pleased to announce the appointments of Mr. Mark Chalmers and Mr. Mersch Ward to the advisory board to the Company. These appointments will expand Laramide's advisory board to four members and adds critical operational, corporate development and Australian permitting experience to the Company.

Mr. Chalmers is a Mining Engineer who has been actively involved in the uranium business since 1976. He has filled both technical and executive roles for companies such as Power Resources (a subsidiary of Cameco Corporation), Heathgate Resources (subsidiary of General Atomics, a US-based company) and Energy Fuels Nuclear Inc of Denver, Colorado.

Mr. Chalmers has extensive exploration, Native Title, development, operation, public affairs and government relations experience with numerous successful uranium mining projects internationally. He is an experienced operations professional who has mined over a dozen small to medium sized uranium deposits using both in-situ leach (ISL) and conventional mining techniques over his nearly 30 year career.

Most recently he served as Senior Vice President and General Manager of Heathgate Resources which owns and operates the Beverley uranium mine in South Australia, one of the largest uranium ISL mines in the world. In his tenure with Heathgate, he was instrumental in building a team of uranium professionals, while at the same time delivering a successful operating mine and exploration program.

In addition, Mr. Chalmers is actively engaged in both State and Federal government authorities in Australia as he serves as Chair of one of three Federal committees that has been organised to review Australia's policy development for future uranium development in the country.

J. Mersch Ward is a Geologist with 40 years professional experience of which 35 years were with Homestake Mining Company. Thirteen years were dedicated to uranium exploration in the principle uranium production districts of Wyoming, Colorado, Utah and New Mexico. Work extended over a range of geologic environments; roll-front and redistribution of uranium in the Permian through Tertiary fluvial sands and the deposition and redistribution of uranium within the Pre Cambrian granite and metamorphic rocks in association with Paleozoic sediments of the Central Colorado Rockies, resulting in discovery and/or delineation of three economic deposits that were brought into production by in-situ leach, underground and open pit mining. Nineteen years were in corporate management positions within Exploration and/or Corporate Development. Work consisted of land and exploration joint venture management, commodity reviews and liquidation of surplus companies and properties though joint venture or direct sale.

In connection with these appointments, the board of Laramide Resources has approved the grant of 350,000 stock options at a price $5.65 per share. The options will have a term of two years and will be issued in accordance with the Company's stock option plan.

Laramide also announces that it has today filed on SEDAR an independent technical report in National Instrument 43-101 format on its Mineral Exploration Tenements in Australia. The report is authored by Mr. David G. Jones of Mining Associates of Brisbane, Australia and provides a comprehensive overview of Laramide's Australian holdings and the Company's proposed $5 million Australian exploration budget for 2006.

Laramide Resources Ltd. ("Laramide") is a Toronto-based resource company specializing in the acquisition and development of mineral properties. Laramide has a diverse portfolio of assets, all of which are leveraged to improving commodity fundamentals, and the Company's current business plan is to focus on the development of uranium projects in Australia and the United States.

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.

Shares Outstanding: 46,926,244

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Laramide Resources Ltd.
    Marc C. Henderson
    +1 (416) 599 7363
    Toronto, Canada
    Laramide Resources Ltd.
    Peter Mullens
    VP Exploration/Corporate Development
    +61 (7) 3831 3407
    Brisbane, Australia