TORONTO, May 22, 2024
/CNW/ - Laramide Resources Ltd. ("Laramide" or the
"Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to
announce that it has mailed its notice of annual meeting of
shareholders, management information circular (the "Circular") and
related meeting materials (collectively, the "Meeting Documents")
in respect of its upcoming annual meeting of shareholders of the
Company (the "Meeting"), to be held on June
26, 2024 at 11 a.m. Eastern
Time.
Laramide's current, long-tenured director D. Scott Patterson has informed the Laramide Board
of Directors (the "Board") of his intention to retire from the
Board as of the Meeting and he will therefore not stand for
re-election.
John Mays, a licensed chemical
engineer with 30 years of experience with in-situ recovery and the
uranium industry, is nominated as a new member to the Laramide
Board of Directors (the "Board"), to be elected at the Meeting. The
Company's proposed new Board member adds a valuable technical and
in-situ recovery ("ISR") mining background to the Board's existing
skillset matrix, and has broad operational leadership experience,
both internationally and in the
United States.
Laramide expresses its sincere appreciation to D. Scott Patterson for his invaluable contributions
during his tenure on the Board. Mr. Patterson, who is the CEO of
TSX and NASDAQ listed FirstService Corporation – one of
Canada's premier growth companies
– has been instrumental in helping guide Laramide through
significant corporate milestones, and associated challenges, as the
company's fortunes ebbed and flowed in concert with the prospects
and perceived potential of nuclear power as a cornerstone
technology for electricity generation. With nuclear power
seemingly once again poised to capture a growing share of a growing
market, this moment also creates an opportunity to further the
process of board renewal at Laramide and begin positioning the
company from development towards production status in the near to
medium term.
Laramide's President, CEO and Director Marc Henderson commented:
"One of our longest-term directors, Scott Patterson, will not stand for re-election
at the Annual Meeting. The Board of Directors and management of
Laramide would like to extend our sincere gratitude to Scott for
his exceptional dedication and service over the years. As Director
and Audit Chair, Scott's integrity, common sense, and business and
financial acumen were highly valued commodities in our boardroom
and will be sorely missed; Scott continues to have a large
ownership position in the Company. We are pleased to welcome our
new director nominee, John Mays, who
brings significant and proven mining and technical experience to
our Board. All of our uranium assets, and in particular Laramide's
planned long life, low-cost in-situ recovery Crownpoint-Churchrock
uranium operation in New Mexico,
United States, will benefit from
John's deep technical experience."
John Booth, Chair of the Board,
commented:
"We are pleased to nominate John
Mays to the Board and look forward to his contribution in
helping management drive forward the Company's premium large-scale
U.S. and Australian uranium assets. On behalf of the Board, I would
also like to thank Scott Patterson
for his valuable contributions to Laramide, as both Chair of the
Audit Committee and having served as a Director of the Company for
so many years. He has played an essential, almost founding role in
the advancement of the Company and we wish him well in his future
endeavours."
John Mays
John Mays is a licensed
professional chemical engineer with over 30 years of experience
with in-situ recovery ("ISR") and the uranium industry. Mr.
Mays began his early career at uranium ISR projects in South Texas operated by Everest Minerals in
1986, a company lead by his father and one of the first
commercially viable pioneers of uranium ISR technology. Since
that time, he has developed broad technical knowledge and
regulatory experience with uranium recovery throughout the United States, having had significant
involvement in a multitude of uranium projects throughout the
western United States, including
roles in New Mexico, Utah, Colorado, and Wyoming. Notable among his
recent experience was his role as Vice President with UrAsia Energy
Ltd. based in Almaty, Kazakhstan
from 2006 to 2008 during the successful initial construction and
operation of the Akdala, South Inkai, and Kharasan-1 uranium ISR
projects. Mr. Mays served as Vice President of Powertech
USA Inc. from 2008 to 2014 and its
successor, Azarga Uranium Corp., for which he served as COO from
2014 until its merger with enCore Energy Corp. in 2021. In
this position, he was instrumental in completing NRC licensing of
the Dewey-Burdock Project and its permitting as the first uranium
ISR directly regulated by the Unites States Environmental
Protection Agency. Since 2023, Mr. Mays has been General Manager of
Florence Copper LLC owned by Taseko Mines Limited, which has
successfully demonstrated and permitted in-situ copper recovery in
Arizona and is planning to
commence commercial operations in 2025. Mr. Mays holds a
Bachelor of Science of Chemical Engineering from the Colorado School of Mines.
The Circular contains information for Shareholders regarding the
Annual Meeting, including exercising voting rights on the election
of the Board and the appointment of the Company's external auditor.
Shareholders who held shares as of the Record Date of May 10, 2024, will be eligible to vote. Voting
instructions are included in the Circular, and eligible
Shareholders are encouraged to vote well in advance of the proxy
voting deadline of 11:00 a.m. Eastern
Time on June 24, 2024. The
Meeting materials are available under the Company's issuer profile
on SEDAR+ (https://www.sedarplus.ca/landingpage) and on the
Company's website at
https://laramide.com/investors/shareholder-information/ and under
the Company's profile on the ASX at
https://www.asx.com.au/markets/company/LAM.
Statement on Russian Uranium Ban in the United States
On May 13, U.S. President Biden
signed bipartisan legislation to ban the import of uranium products
from Russia, a major milestone in
the uranium sector. This legislation also unlocks new U.S. funding
for domestic conversion and enrichment capacity and provides the
clearest signal yet of US policy support for both domestic security
of supply and an expanded role for nuclear power in meeting future
energy requirements. As Laramide pursues near-term permitting and
production of the Company's 100%-owned U.S. uranium projects,
Laramide is poised to benefit as one of the country's sources of
domestically produced uranium for clean energy. Laramide continues
to advance its Utah and
New Mexico uranium projects in
preparation to help strengthen American nuclear leadership and fuel
security for decades to come.
To learn more about Laramide, please visit the Company's website
at www.laramide.com.
Follow us on Twitter @LaramideRes
About Laramide Resources Ltd.:
Laramide is focused on
exploring and developing high-quality uranium assets in
Australia and the western
United States. 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, production potential, and the two large projects are
considered to be late-stage, low-technical risk
projects.
In the United States,
Laramide's assets include the NRC licensed Crownpoint-Churchrock
Uranium Project. An NI 43-101 PEA study completed in 2023 has
described an in-situ recovery ("ISR") production methodology. The
Company also owns the La Jara Mesa project in the historic Grants
mining district of New Mexico and
an underground project, called La
Sal, in Lisbon Valley, Utah.
The Westmoreland project in
Queensland, Australia, is one of
the largest uranium development assets held by a junior mining
company. This project has a PEA that describes an economically
robust, open-pit mining project with a mine life of 13 years.
Additionally, the adjacent Murphy Project in the Northern Territory
of Australia is a greenfield asset
that Laramide strategically acquired to control the majority of the
mineralized system along the Westmoreland trend.
Forward Looking Statement
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 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 address 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.
