Laramide raises $5.0 million, acquires uranium licenses in Sweden

Laramide Resources Ltd. [LAM-TSX, ASX, LMRXF-OTCQX], a uranium mine development and exploration company with significant projects in the United States and Australia said Friday it has raised $5.0 million from a non-brokered private placement offering.

The company said the offering consisted of 8.35 million shares at 60 cents per share. The offering was taken up by a strategic investor that it did not name. Proceeds are earmarked for working capital and general corporate purposes.

On Friday, the company said it has acquired exploration licenses within Sweden’s Hotagen and Arjeplog-Arvidsjaur uranium provinces, therefore establishing a strategic exploration position in one of Europe’s most prospective uranium jurisdictions. The move comes after Sweden recently completed a series of legislative reforms to once again permit uranium mining. They include two licenses covering over 1,700 hectares in the Hotagen uranium district, adjoining one of Sweden’s best known uranium projects (the Klappibacken Project).

The company said the newly acquired licenses provide exposure to highly prospective geological terranes that host numerous known uranium occurrences and deposits, including the Klappibacken and Pleutajokk uranium deposits. These deposits have been the focus of exploration programs conducted by government agencies and industry participants over several decades and represent some of Sweden’s most significant uranium endowments.

The Arjeplog-Arvidsjaur uranium province hosts numerous vein and metasomatic uranium occurrences including the Pleutajokk deposit, while the broader district has long been recognized as one of Sweden’s principal uranium provinces. Historical geological studies have identified multiple uranium-bearing systems across the region, demonstrating the district-scale fertility of the province.

Similarly, the Hotagen district contains several known uranium occurrences, including the Klappibacken deposit, which has been recognized by international uranium deposit compilations as one of Sweden’s notable uranium prospects.

“Sweden has undergone one of the most significant policy shifts in the global uranium sector,’’ said Laramide President and CEO Marc Henderson. “In a relatively short period of time, 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 said. “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 uranium supply chain.’’

On Friday, Laramide shares were unchanged at 63 cents. The shares trade in a 52-week range of 91 cents and 46 cents.

In a press release on July 22, 2026, Laramide announced the results of an updated preliminary economic assessment (PEA) for its 100%-owned Westmoreland Uranium Project in Queensland, Australia. The PEA envisages average annual production of 4.9 million pounds of U308, and total life-of-mine (11 years) production of 47.9 million pounds of U308. The PEA forsees a conventional open pit mining operation and processing of 2.9 million tonnes per annum. The initial capital cost is estimated at US$456 million (plus US$84 million contingency). The average cash cost, operating cost is estimate at US$32.40 per pound.