Laramide's Churchrock Uranium Project and La Jara Mesa Uranium Project Designated for FAST-41 Covered Project Status
TORONTO, June 2, 2025 /CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce that two of its advanced-stage uranium development projects in the United States, Crownpoint-Churchrock (New Mexico) and La Jara Mesa (New Mexico), have been designated FAST-41 Covered Projects by the Federal Permitting Improvement Steering Council (Permitting Council).
This designation, part of the federal infrastructure permitting initiative established under Title 41 of the Fixing America's Surface Transportation ("FAST-41") Act, reflects the projects' strategic importance and supports an efficient, transparent federal review process.
Notably, the La Jara Mesa Project has been upgraded from a FAST-41 Transparency Project to a fully Covered Project, aligning its permitting status with Crownpoint-Churchrock and streamlining its path forward under U.S. federal oversight.
Marc Henderson, President and CEO of Laramide Resources Ltd., said:
"We commend the Trump administration for the Executive Order announced on May 23, supporting the acceleration of nuclear energy development in the United States. As momentum builds around a new era for nuclear power, it is important to recognize that uranium is the fundamental starting point of the entire fuel cycle.
"Our Crownpoint-Churchrock project is one of the largest undeveloped uranium deposits in the U.S. and has the potential to play a central role in securing a domestic supply of this critical mineral. The inclusion of our projects under FAST-41 is a meaningful step, but continued policy support will be essential to overcome the longstanding regulatory and permitting challenges that have constrained U.S. uranium production. We are encouraged by this progress and proud to be part of a national effort to rebuild the nuclear fuel cycle from the ground up."
About Crownpoint-Churchrock
The Crownpoint-Churchrock Uranium Project is Laramide Resources' flagship U.S. asset and one of the largest undeveloped uranium resources in the United States. Located in McKinley County, New Mexico, the project comprises two in-situ recovery ("ISR")-amenable uranium deposits, Crownpoint and Churchrock, collectively covered under a U.S. Nuclear Regulatory Commission ("NRC") license, and the renewal application for this is currently in process.
About La Jara Mesa
The La Jara Mesa Uranium Project is a significant development-stage asset owned by Laramide Resources Ltd., situated in the prolific Grants Mineral Belt of Cibola County, New Mexico. This sandstone-hosted uranium deposit lies approximately 10 miles northeast of the town of Grants, within the Mount Taylor Ranger District of the Cibola National Forest. Laramide has been actively progressing through the permitting process. The U.S. Forest Service is preparing an Environmental Impact Statement (EIS) in accordance with the National Environmental Policy Act (NEPA) to assess the development of an underground uranium mine and associated surface facilities.
Qualified/Competent Person
The information in this announcement relating to Mineral Resource Estimates is based on information compiled or reviewed by Mr. Rhys Davies, a contractor to the Company. Mr. Davies is a Member of The Australasian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves', and is a "Qualified Person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Davies consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
To learn more about Laramide, please visit the Company's website at www.laramide.com.
About Laramide Resources Ltd.
Laramide is focused on exploring and developing high-quality uranium assets in Tier-1 uranium jurisdictions. The company's portfolio comprises predominantly advanced uranium projects in districts with historical production or superior geological prospectivity. The assets have been carefully chosen for their size and production potential, and the two large development projects are considered to be late-stage, low-technical risk projects. As well, Laramide has expanded its pipeline with strategic exploration in Kazakhstan where the company is exploring over 5,500 km 2 of the prolific Chu-Sarysu Basin for world class roll-front deposits which are amenable to in-situ recovery.
Forward-looking Statements and Cautionary Language
This release includes certain statements that may be deemed to be "forward-looking statements." All statements in this release, other than statements of historical facts, that address events or developments that the management of the Company expect, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Actual results or developments may differ materially from those in forward-looking statements. Laramide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
Since forward-looking information addresses future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, exploration and production for uranium; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of resource estimates; health, safety and environmental risks; worldwide demand for uranium; uranium price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations.
SOURCE Laramide Resources Ltd.
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