Laramide Enters into Toll Milling Agreement with Energy Fuels

TORONTO, Jan. 18, 2013 /CNW/ - Laramide Resources Ltd. ("Laramide") (TSX: LAM) 
and Energy Fuels Inc. ("Energy Fuels") (TSX: EFR) are pleased to announce that 
they have entered into a toll milling agreement, whereby Energy Fuels' White 
Mesa Mill will process all material produced from Laramide's 100% owned and 
operated La Sal II Uranium Mine Project in Utah. 
The agreement has a two-year term with an optional three-year extension and 
commences in January 2013. 
Under the terms of the agreement, Laramide will transport material produced at 
La Sal II to Energy Fuels' nearby White Mesa Mill for processing of up to 
20,000 tons during the test phase. Laramide will pay to Energy Fuels the costs 
to mill its ore, a capital charge plus a toll milling fee per ton of ore, 
which will be partly linked to the long-term uranium price. 
Laramide'sagreement with Energy Fuels accommodates additional ore production 
once La Sal II is permitted for full production. 
"This agreement is a win-win situation for both Laramide and Energy Fuels, and 
we are pleased we entered into this transaction with them," said Marc 
Henderson, President and Chief Executive Officer, Laramide. "The considerable 
progress made at La Sal II over the past few years meets our stated objective 
of near-term production visibility from our U.S. asset base. We look forward 
to delivering on our next development and operational targets and for 
continuing recovery in the uranium markets," Mr. Henderson stated. 
"Energy Fuels is happy to help bring the La Sal II mine into production," said 
Stephen P. Antony, President and CEO of Energy Fuels,"Laramide's production 
activities are positive for Energy Fuels' White Mesa Mill, and toll milling 
will continue to be a low-risk source of revenue for the company.This 
transaction also underscores the strategic importance ofowningthe only 
operatinguranium mill in the US that is within trucking distance of a large 
resource base with significant historical production. Over time, we expect 
to growthis type of revenue source by signing toll milling and/or ore 
purchase arrangements with other uranium property owners in the region who 
will require the functionality of the White Mesa Mill in order to mine and 
generate revenue from their properties." 
Energy Fuels will use samples from Laramide's bulk sample program to confirm 
metallurgical and mill compatibility and then process the 20,000 tons. The 
fully permitted bulk sample program allows Laramide to commence underground 
development activities, and with positive results, would allow for a 
commercial production decision at La Sal II. 
The total tonnage will be negotiated at the completion of each 12 months 
production period for the subsequent full production year, dependent on mill 
availability. 
Laramide has commenced a number of on-site programs at La Sal II and an 
operational update will be provided shortly. 
The La Sal II Uranium Project is located in the Lisbon Valley Uranium District 
in San Juan County, Utah and was previously permitted and developed by 
Homestake. A ventilation raise at site and 1,200 metre access drive was 
completed by Homestake Mining Company in the early 1980s when Homestake 
delivered an estimated 46,000 tons of uranium ore to off-site mills. La Sal is 
located approximately 55 miles from Energy Fuels' White Mesa Mill in Blanding, 
Utah. 
About Laramide Resources: 
Laramide is engaged in the exploration and development of high-quality uranium 
assets. Its wholly owned uranium assets are in Australia and the United 
States. Laramide's portfolio of advanced uranium projects have been chosen for 
their production potential. Its flagship project, Westmoreland, in Queensland, 
Australia, is one of the largest projects currently held by a junior mining 
company. Its U.S. assets include La Jara Mesa in Grants, New Mexico, and La 
Sal in the Lisbon Valley district of Utah. Its portfolio also includes joint 
ventures in the Northern Territory, Australia, strategic equity positions and 
a portfolio of uranium royalties in the Grants Mineral District of New Mexico. 
About Energy Fuels Inc.: 
Energy Fuels is America's largest conventional uranium producer, supplying 
approximately 25% of the uranium produced in the U.S. Energy Fuels is also a 
significant producer of vanadium. The company operates the White Mesa Mill, 
which is the only conventional uranium mill currently operating in the U.S. 
The White Mesa Mill is capable of processing 2,000 tons per day of uranium 
ore. Energy Fuels has projects located throughout the Western U.S., including 
producing mines and mineral properties in various stages of permitting and 
development. 
This news release contains certain "Forward-Looking Statements" within the 
meaning of Section 21E of the United States Securities Exchange Act of 1934, 
as amended and "Forward Looking Information" within the meaning of applicable 
Canadian securities legislation, which may include, but is not limited to, 
statements with respect to the future financial or operating performance of 
Laramide and Energy Fuels and their respective projects. Generally, these 
forward-looking statements can be identified by the use of forward-looking 
terminology such as "plans", "expects" "does not expect", "is expected", "is 
likely", "budget" "scheduled", "estimates", "forecasts", "intends", 
"anticipates", "does not anticipate", or "believes", or variations of such 
words and phrases, or state that certain actions, events or results "may", 
"could", "would", "might" or "will be taken", "occur", "be achieved" or "has 
the potential to". All statements, other than statements of historical fact, 
included herein are generally considered to be forward-looking statements. 
Forward-looking statements involve known and unknown risks, uncertainties and 
other factors which may cause the actual results, performance or achievements 
of Laramide and/or Energy Fuels to be materially different from any future 
results, performance or achievements express or implied by the forward-looking 
statements. Factors that could cause actual results to differ materially from 
those anticipated in these forward-looking statements are described in the 
company's respective public documents available for view on the System for 
Electronic Document Analysis and Retrieval at www.sedar.com. Forward-looking 
statements contained herein are made as of the date of this news release and 
Laramide and Energy Fuels disclaim, other than as required by law, any 
obligation to update any forward-looking statements whether as a result of new 
information, results , future events, circumstances, or if management's 
estimates or opinions should change, or otherwise. There can be no assurance 
that forward-looking statements will prove to be accurate, as actual results 
and future events could differ materially from those anticipated in such 
statements. Accordingly, the reader is cautioned not to place undue reliance 
on forward-looking statements. 
on Laramide, please visit the company's website atwww.laramide.com or please 
contact: 
Marc Henderson, President and CEO Toronto, Canada +1 (416) 599 7363 
Greg Ferron, Vice-President, Corporate Development and IR Toronto, Canada 
+1 (416) 599 7363 
For further information on Energy Fuels, please visit the company's  website 
atwww.energyfuels.com or please contact: 
Curtis H. Moore, Director - Investor and Public Relations Lakewood, Colorado 
(303) 974-2154 
SOURCE: Laramide Resources Ltd. 
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CO: Laramide Resources Ltd.
ST: Ontario
NI: MNG VNT  
-0- Jan/18/2013 12:00 GMT
 
 
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