Laramide Resources Files NI 43-101 Technical Report for the Westmoreland Uranium Project

Laramide Resources Ltd. (LAM) filed an independent NI 43-101 Technical Report on September 3, 2026, supporting the updated Preliminary Economic Assessment (PEA) for its 100%-owned Westmoreland Uranium Project in Queensland, Australia. The filing confirms there are no material differences between the technical report and the PEA results previously announced on July 22, 2026.

The PEA is based on currently reported Mineral Resources at four deposits: Redtree, Huarabagoo, Junnagunna, and Long Pocket. It explicitly assigns no value to broader exploration potential, gold, or rare earth element mineralization. Capital and operating cost estimates are at a Scoping Study accuracy level of approximately ±35%. The Technical Report recommends advancing the project to a Pre-Feasibility Study (PFS) level.

Management highlighted that while Queensland's current policy prevents uranium development, the company is maintaining technical readiness to lodge a Mining Lease Application should the regulatory environment change.

Laramide Resources Ltd. (LAM) filed a standard regulatory follow-up to its July 22 Preliminary Economic Assessment (PEA) announcement. The filing does not introduce new economic data, revised resource estimates, or changes to the project's financial profile.

The ±35% cost accuracy remains a key constraint, indicating that the $456M initial capital cost and $32.40/lb C1 operating costs are indicative rather than firm. The news is fully in line with previous expectations and management guidance. It represents an incremental step in project maturation but does not alter the fundamental overhang of Queensland's uranium development ban.

Laramide Resources Ltd. (LAM) is a uranium exploration and development company focused on advancing late-stage projects in North America and Australia. Its flagship Westmoreland Uranium Project in Queensland, Australia, features an updated Preliminary Economic Assessment that outlines an 11-year mine life with average annual production of 4.9 million pounds U3O8. Project economics at $90/lb U3O8 show a post-tax NPV of $741.1M, post-tax IRR of 33%, and C1 operating costs of $32.40/lb.

The company’s secondary project, Churchrock-Crownpoint in New Mexico, USA, holds an existing NRC license and is advancing through the FAST-41 federal permitting framework, with a discharge permit currently in the public notice phase. Additionally, Laramide acquired the Klappibacken and Arjeplog projects in Sweden in August 2026. These are early-stage exploration licenses in a jurisdiction that recently restored uranium mining permissions.