Laramide Resources Ltd.

Laramide Resources Ltd.

May 19, 2009 10:29 ET

Laramide Reports on La Jara Mesa Permitting: USDA Forest Service Commences Environmental Impact Statement and Public Comment Process

TORONTO, ONTARIO--(Marketwire - May 19, 2009) - Laramide Resources Ltd. (TSX:LAM) is pleased to announce the publication of a Notice of Intent in the U.S. Federal Register announcing upcoming scoping meeting open houses (two of them) to discuss Laramide's planned La Jara Mesa Mine Project ("La Jara Mesa"). La Jara Mesa is located in Cibola County, New Mexico in the Ambrosia Lake Mining District of the Grants Mineral Belt. The mineral resource estimated for La Jara Mesa (2007, Douglas Peters, Independent Consultant) estimates measured and indicated mineral resources of 7,257,817 pounds uranium (U3O8) that are contained in 1,555,899 tons at an average grade of 0.23% and an additional inferred resource of 3,172,653 pounds of uranium (U3O8) contained in 793,161 tons at an average grade of 0.20% U3O8. Laramide plans to develop it as a small underground mine. The project resides on public land administered by the USDA Forest Service ("Forest Service"), who will convene the scoping meetings. Golder Associates (Golder) has been hired as an independent Third-Party Contractor to prepare the required Environmental Impact Statement ("EIS"). Golder will also be collecting environmental baseline data which is intended to comply with Section 6 of the Mining Act Rules of New Mexico.

The EIS process timeline, as reported by Forest Service, is as follows:

Event Timeline Comment
Public and Agency Underway May/ June 2009
Scoping Starts with two meeting open
houses in Grants, NM and Gallup,
NM. These meetings will allow
for public comment and questions.
Data Collection / Field Underway Spring / Summer 2009
Studies Golder will conduct studies to
evaluate air, water, vegetation,
wildlife, cultural, noise and
other environmental disciplines
to determine what exists at site
and assess potential impacts.
Draft EIS Fall 2009 When the draft is issued, it will
be made available to the public
for their review and comment.
Final EIS Spring/Summer
Forest Service Decision Summer 2010
Implementation 2010 Construction

Laramide will report on the development of the EIS and issues raised during the public scoping period, as these factors will influence the planned construction and operation of the mine.

About Laramide:

Laramide is engaged in the exploration and development of high quality uranium assets. Its wholly owned uranium assets are in Australia and the United States. Laramide's portfolio of advanced uranium projects have been chosen for their production potential. Its flagship project, Westmoreland, in Queensland, Australia, is one of the largest projects currently held by a junior mining company. Its U.S. assets include La Jara Mesa in Grants, New Mexico and La Sal in the Lisbon Valley district of Utah. Its portfolio also includes joint venture, strategic equity positions and royalty participation in uranium development and exploration companies that provide additional geographic diversification and uranium exposure for shareholders.

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.

Contact Information

  • Laramide Resources Ltd.
    Flora Wood
    Investor Relations
    (416) 599-7363