Laramide Reports Final Results from 2008 Drilling at Westmoreland; Highlights Include Hole WDD08-112 with 5 Metres Grading 0.43% U(3)O(8) and Hole WDD08-114 with 11 Metres Grading 0.41% U(3)O(8)



    Trading on TSX (Symbol: LAM)

    TORONTO, Jan. 13 /CNW/ - Laramide Resources Ltd. (TSX: LAM) is pleased to
announce the concluding results of 18 drill holes remaining from the 39 drill
hole program completed in the Redtree project area within the 100% owned
Westmoreland Project in North Queensland, Australia. These results include
WDD08-114 which intersected 11 metres at 0.41% U(3)O(8) from 14m, WDD08-112
with 5 metres at 0.43% U(3)O(8) from 4 metres depth and WDD08-123 which
intersected 12 metres at 0.24 % U(3)O(8) from 6 metres depth. These complete
the results for the 39 hole, 928.4 metre drilling program which included
previously announced results:

    
    -   WDD08-096 - 10m @ 0.66 % U(3)O(8)
    -   WDD08-100 - 8 m @ 0.25 % U(3)O(8)
    -   WDD08-106 - 10m @ 0.23 % U(3)O(8)
    

    This second drill phase was completed in October 2008 and focused on the
thinner Jack lens which forms the western half of the Redtree deposit (see
Fig. 1 for details of location of drill holes). The Jack lens is located very
close to the surface at Westmoreland, generally within 10 metres. This allows
for open pit mining and a low strip ratio, leading to robust economics of the
deposit.
    Peter Mullens, VP Exploration, stated "The technical merit of the project
continues to be reinforced as we accumulate more data. Studies on drill core
from Laramide's drilling have confirmed the high proportion of uraninite in
the Redtree ore, which responds favourably to conventional metallurgy."
    Mr. Mullens also drew attention to the recent public statements by
Murrundoo Yanner, Aboriginal Activist and Chairman of the Gangalidda - Garawa
Claim Group. Mr. Yanner in late December 2008 called upon the Queensland State
Government to urgently reconsider its position on uranium mining in order to
facilitate permitting of the Westmoreland Uranium deposit. In print and radio
media, Murrundoo highlighted the economic and social benefits which accrue to
indigenous communities from well planned mining activities.

    All 18 holes reported in the table below were drilled with HQ core:

    

    -------------------------------------------------------------------------
    Drill        AMG        AMG      Azimuth      Dip     RL
    Hole        East(*)   North(*)  (degrees)  (degrees)  (m)
    -------------------------------------------------------------------------
    REDTREE
    -------------------------------------------------------------------------
    WDD08-110   191716    8060528      360        -90    176.89
    -------------------------------------------------------------------------
    WDD08-111   191686    8060621      360        -90    166.72
    -------------------------------------------------------------------------
    WDD08-112   191743    8060582      360        -90    170.28
    -------------------------------------------------------------------------
    WDD08-113   191852    8060571      360        -90     174.6
    -------------------------------------------------------------------------
    WDD08-114   191888    8060556      360        -90     178.9
    -------------------------------------------------------------------------
    WDD08-115   191792    8060608      360        -90     172
    -------------------------------------------------------------------------
    WDD08-116   191821    8060595      360        -90     172.6
    -------------------------------------------------------------------------
    WDD08-117   191712    8060682      360        -90     162.4
    -------------------------------------------------------------------------
    WDD08-118   191749    8060646      360        -90    168.82
    -------------------------------------------------------------------------
    WDD08-119   191649    8060744      360        -90     158.6
    -------------------------------------------------------------------------
    WDD08-120   191724    8060726      360        -90     162.4
    -------------------------------------------------------------------------
    WDD08-121   191774    8060785      360        -90     158.6
    -------------------------------------------------------------------------
    WDD08-122   191762    8060809      360        -90    157.68
    -------------------------------------------------------------------------
    WDD08-123   191788    8060552      360        -90    174.78
    -------------------------------------------------------------------------
    WDD08-124   191892    8060609      360        -90    171.63
    -------------------------------------------------------------------------
    WDD08-125   192198    8060609      360        -90     162.1
    -------------------------------------------------------------------------
    WDD08-125   192198    8060609      360        -90     162.1
    -------------------------------------------------------------------------
    WDD08-125   192198    8060609      360        -90     162.1
    -------------------------------------------------------------------------
    WDD08-126   191852    8060643      360        -90    170.38
    -------------------------------------------------------------------------
    WDD08-127   191791    8060685      360        -90    166.58
    -------------------------------------------------------------------------


    -----------------------------------------------------------
    Drill       From   To  Interval  U(3)O(8)  True Width
    Hole         (m)   (m)   (m)       (%)        (m)
    -----------------------------------------------------------
    REDTREE
    -----------------------------------------------------------
    WDD08-110     7    15     8        0.08        8
    -----------------------------------------------------------
    WDD08-111     0     3     3        0.06        3
    -----------------------------------------------------------
    WDD08-112     4     9     5        0.43        5
    -----------------------------------------------------------
    WDD08-113     7    12     5        0.16        5
    -----------------------------------------------------------
    WDD08-114     14   25    11        0.41       11
    -----------------------------------------------------------
    WDD08-115     8    13     5        0.08        5
    -----------------------------------------------------------
    WDD08-116     5    18    13        0.07       13
    -----------------------------------------------------------
    WDD08-117     1     9     8        0.12        8
    -----------------------------------------------------------
    WDD08-118     5    12     7        0.07        7
    -----------------------------------------------------------
    WDD08-119     1     9     8        0.12        8
    -----------------------------------------------------------
    WDD08-120     0     7     7        0.14        7
    -----------------------------------------------------------
    WDD08-121            No significant assays
    -----------------------------------------------------------
    WDD08-122     0     7     7         0.1        7
    -----------------------------------------------------------
    WDD08-123     6    18    12        0.24       12
    -----------------------------------------------------------
    WDD08-124            No significant assays
    -----------------------------------------------------------
    WDD08-125     24   27     3        0.06        3
    -----------------------------------------------------------
    WDD08-125     37   40     3        0.19        3
    -----------------------------------------------------------
    WDD08-125     47   50     3        0.05        3
    -----------------------------------------------------------
    WDD08-126     10   18     8        0.04        8
    -----------------------------------------------------------
    WDD08-127     5    10     5        0.03        5
    -----------------------------------------------------------
    (*)Datum is AGD66
    (*)Intersections calculated using a 0.02% U(3)O(8) cut-off and minimum
       intersection of 3 metres.
    

    The second phase of drilling was completed with two small man portable
diamond drill rigs which were moved from drill site to drill site with the
assistance of a helicopter. Certain holes have had half the core retained for
metallurgical test work to be completed in the first quarter of 2009. The data
from the 2008 programs will be incorporated into a revised resource
calculation, which Laramide has commissioned. The current NI 43-101 compliant
resource estimate (Mining Associates of Australia, October, 2006) is as
follows:

    
    -------------------------------------------------------------------------
                                        U(3)o(8)   U(3)o(8)
    Category       Deposit    Tonnes      Uncut        Cut    ktonnes   Mlbs
    -------------------------------------------------------------------------
    Inferred      Red Tree   10,928,500   0.094%     0.093%      10.2   22.4
              ---------------------------------------------------------------
                Huarabagoo    2,925,250   0.122%     0.108%       3.2    7.0
              ---------------------------------------------------------------
                Junnagunna    2,149,500   0.077%     0.075%       1.6    3.6
              ---------------------------------------------------------------
               Total Group   16,003,250   0.097%     0.094%      14.9   32.9
    -------------------------------------------------------------------------
    Indicated     Red Tree    3,672,250   0.096%     0.096%       3.5    7.8
              ---------------------------------------------------------------
                Huarabagoo            0                           0.0    0.0
              ---------------------------------------------------------------
                Junnagunna    4,364,750   0.082%     0.081%       3.5    7.8
              ---------------------------------------------------------------
               Total Group    8,037,000   0.088%     0.088%       7.1   15.6
    -------------------------------------------------------------------------
    Total         Red Tree   14,600,750   0.095%     0.094%      13.7   30.2
    Inferred  ---------------------------------------------------------------
    plus        Huarabagoo    2,925,250   0.122%     0.108%       3.2    7.0
    indicated ---------------------------------------------------------------
                Junnagunna    6,514,250   0.080%     0.079%       5.1   11.3
              ---------------------------------------------------------------
               Total Group   24,040,250   0.094%     0.092%      22.0   48.5
    -------------------------------------------------------------------------
    

    The objective of the pending revised resource estimate is primarily to
increase the confidence interval from Inferred to at least Indicated on a
larger proportion of the resource.
    Mr. Mullens pointed out that drilling activity was suspended after the
completion of the program, in keeping with general seasonal practice. He
further stated, "The first tropical cyclone of the season has caused localised
flooding and seasonal run-off in the Westmoreland district. We are monitoring
this event to collect critical data for project planning in conjunction with
radiological baseline studies."
    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.

    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.

    To view Red Tree Prospect Drill Hole Location Plan, please visit
    http://files.newswire.ca/773/RedTreePlan.pdf

    To view Red Tree Prospect Cross Section 3, please visit
    http://files.newswire.ca/773/CrossSection3.pdf

    To view Red Tree Prospect Cross Section 2, please visit
    http://files.newswire.ca/773/CrossSection2.pdf
    





For further information:

For further information: Flora Wood, Investor Relations, Toronto,
Canada, (416) 599-7363 Or visit our web site at www.Laramide.com; Peter
Mullens, VP Exploration, Brisbane, Australia +61 (7) 3831 3407


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