Laramide Resources updates PEA at Westmoreland Uranium Project

Toronto, Ontario--(Newsfile Corp. - July 22, 2026) - Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) ("Laramide" or the "Company"), a uranium mine development and exploration company with significant projects in the United States and Australia, is pleased to announce the results of an updated Preliminary Economic Assessment ("PEA") for its 100%-owned Westmoreland Uranium Project in Queensland, Australia. Pursuant to the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the ASX Listing Rules for current technical disclosure under the JORC Code (2012 Edition), Laramide commissioned an updated Preliminary Economic Assessment ("PEA") for the Westmoreland Uranium Project, replacing the Company's previous study completed in 2016. The Study incorporates a decade of technical advancement, including updated engineering, mine planning, metallurgical process design, environmental planning, capital and operating cost estimates, and revised market assumptions, providing a current assessment of the Project's development potential in today's uranium market.

The resulting PEA provides an updated assessment of the Project's technical and economic potential and establishes a current foundation for evaluating the future development of one of Australia's largest undeveloped uranium projects. PEA Highlights (US$90/lb U₃O₈): Strong Project Economics: Post-tax NPV (7.5%) of US$741.1 million Post-tax IRR of 33% Pre-tax NPV (7.5%) of US$1.126 billion Pre-tax IRR of 43% Initial capital cost of approximately US$456 million (plus US$84 million contingency) Sustaining CapEx, (including contingency) US$84 million Estimated payback period of approximately 2.5 years Average Cash Cost ("C1") operating cost of US $32.40 per pound Robust Production Profile: Average annual production