Laramide Resources Ltd. (ASX:LAM) Enters Option Agreement for Chu-Sarysu Project in Kazakhstan

Laramide Resources Ltd. (ASX:LAM) has entered into a three-year option agreement with Aral Resources Ltd. for the Chu-Sarysu Project in the Suzak District of the South Kazakhstan Oblast, Republic of Kazakhstan. The project comprises 22 subsoil use license applications for approximately 6,000 km2 and is proximal to major uranium deposits and operational mines such as Inkai, Budenovskoye, and Muyunkum-Tortkuduk.

Executive Commentary on Chu-Sarysu Project

The President and CEO of Laramide, Marc Henderson, expressed enthusiasm about the opportunity, stating, 'The opportunity to explore in one of the world's most prolific and prospective uranium basins appears to us to be a very compelling and overlooked opportunity, particularly within an industry dynamic where the uranium supply deficit is now consensus thinking, and where nuclear power's global growth ambitions will absolutely require greenfield discovery of new deposits.'

Summary of Laramide's Option Agreement for Chu-Sarysu Project

Laramide Resources Ltd. (ASX:LAM) has secured an option agreement for the Chu-Sarysu Project in Kazakhstan, representing a significant greenfield exploration opportunity for uranium. The company aims to fund and operate an exploration program towards the discovery of a viable uranium resource. The agreement includes the right to acquire all outstanding shares of Aral, the exclusive operator role, and funding responsibilities. Laramide's proactive approach aligns with Kazakhstan's encouragement of foreign investment, and the company plans to focus on historical technical data review, geophysical validation, and target generation for the exploration program. The company's ambitions to contribute to global uranium supply and leverage the potential of the Chu-Sarysu Basin reflect a strategic corporate direction.