Laramide Resources Enters Sweden with New Uranium Exploration Licences

• Laramide has acquired a 100% interest in exploration licences covering Sweden's Hotagen and Arjeplog-Arvidsjaur uranium provinces.
• The licences are located near known uranium occurrences, including the Kläppibäcken and Pleutajokk deposits, which have been studied by government agencies and industry over several decades.
• Sweden recently reversed its uranium mining ban and modernised its regulatory framework.
• Total consideration for the acquisition is $600,000, comprising cash and shares, with additional payments tied to future resource milestones.
• Initial work will focus on compiling historical data and identifying priority targets; the licences are also considered prospective for rare earth elements.

Laramide Resources (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is a Canada-based uranium company focused on exploring and developing uranium assets in established mining jurisdictions. Its portfolio is centred on two large development projects in the United States and Australia, which the company considers advanced and lower risk based on their technical status. With the Sweden acquisition, Laramide adds an exploration position in Europe to its existing North American and Australian holdings.

Acquisition of Uranium Exploration Licences in Sweden's Hotagen and Arjeplog-Arvidsjaur Uranium Provinces

Laramide has acquired exploration licences across two uranium districts in Sweden. The Kläppibäcken project, in the Hotagen district, consists of two licences covering more than 1,700 hectares and adjoins a project that hosts a historical mineral resource. That neighbouring resource, Nordfjället South, is estimated at 1.8 million pounds of uranium oxide (U₃O₈). This estimate was prepared by a previous operator and has not been verified under current reporting standards, so it is not treated as a current resource.

The second licence, Kaivaive 103, covers ground in the Arjeplog-Arvidsjaur province, home to the Pleutajokk and Duobblon deposits, which together are estimated to contain approximately 28 million pounds of U₃O₈. Historical drilling conducted in 1976 and 1981 intersected uranium mineralisation within 50 metres of surface. The area has not seen significant modern exploration since. Other companies, including District Metals, Basin Energy, Southern Cross Gold Consolidated, and NordX Energy, have also acquired positions in the same province.

Both licence areas have been subject to prior exploration by government agencies and industry participants, including outcrop radiometric surveys and radon track-etch surveys that identified uranium-related anomalies across the Hotagen district.

Swedish Legislative Reform Restores Uranium Mining

Sweden had prohibited new uranium mining prior to a series of legislative reforms that lifted the ban, updated the regulatory framework, and reaffirmed nuclear energy as part of the country's energy strategy.

President and Chief Executive Officer Marc Henderson said:

"Sweden has undergone one of the most significant policy shifts in the global uranium sector. In a relatively short period, the Swedish Government has restored uranium mining, modernized the regulatory framework and reaffirmed nuclear energy as a cornerstone of the country's long-term energy strategy."

He added:

"We believe these reforms represent a transformational shift for Sweden's mining sector and have created an attractive opportunity to establish a strategic position within an emerging European uranium supply chain."

Low-Cost Entry Into Prospective Ground With Rare Earth Potential

Total consideration for the Swedish licences was $600,000, structured as $300,000 in cash, including a $50,000 deposit already paid, and $300,000 in Laramide shares issued to the vendor, Gilpas Resources. The remaining $250,000 cash payment is due by August 31, 2026.

Additional milestone payments apply if Laramide later delineates a resource on the property: $150,000 upon delineation of at least 5 million pounds of uranium, and $250,000 upon delineation of at least 10 million pounds. Initial work will focus on digitising historical exploration data, integrating existing geophysical and geochemical datasets, and ranking targets ahead of field verification and drill targeting.

Historical work across the licences has also indicated potential for rare earth elements, though this has not yet been systematically evaluated. Laramide's initial exploration focus will remain on uranium.

Milestones and Next Steps

Laramide's near-term work programme will focus on digitising historical exploration data, integrating geophysical and geochemical datasets, and ranking priority targets ahead of field verification and drill targeting. The remaining $250,000 cash payment to the vendor is due by August 31, 2026. Milestone payments to the vendor are contingent on future delineation of uranium resources of 5 million and 10 million pounds, respectively.

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