Laramide Resources launches secondary offering and ASX co-listing

Laramide Resources launches secondary offering and ASX co-listing 
TORONTO, Jan. 31, 2013 /CNW/ - Laramide Resources Ltd. ("Laramide") (TSX:LAM) 
is pleased to announce that it has lodged a prospectus ("Prospectus") with the 
Australian Securities and Investment Commission ("ASIC") for a minimum of 
A$8,500,000 up to a maximum of A$10,200,000 by way of an Australian initial 
public offering (the "Offering"), ahead of a planned co-listing of 
its shares on the Australian Securities Exchange ("ASX") targeted for March 
2013. 
Bell Potter Securities Limited is the lead manager for the Offering (the "Lead 
Manager"), which will consist of between 10,000,000 and 12,000,000 CHESS 
Depository Receipts ("CDIs") to be issued at A$0.85 per CDI (approximately 
C$0.89), to raise a minimum of A$8,500,000 up to a maximum of A$10,200,000 
before expenses of the Offer. Subject to regulatory approval, each CDI will be 
equivalent to and exchangeable for one common share in the capital of 
Laramide. The Toronto-based company's common shares will continue to trade on 
Toronto Stock Exchange (TSX) under its "LAM" symbol. The Company also intends 
to apply to the ASX for admission to the official list of the ASX and for 
quotation of its CDIs for trading. 
The CDIs will be tradable on the ASX upon listing and will initially be 
subject to a four-month plus one day restriction from resale into Canada or to 
Canadian investors, and cannot be resold into Canada during such period, 
unless an exemption is available from the applicable prospectus requirements 
in Canada. The Company will offer CDIs to institutional and professional 
investors in private placements in countries agreed with the Lead Manager for 
the Offering, including Australia, Canada, Hong Kong, New Zealand, Singapore, 
United Kingdom and the United States. 
"With the Company's flagship Westmoreland project and recent Murphy 
farm-in/joint venture with Rio Tinto, both located in Australia, the ASX 
listing provides Laramide increased exposure and access to new investors and 
capital in these important regions," said Marc Henderson, President and Chief 
Executive Officer, Laramide. "In addition, the timing is ideal to further 
enhance the profile of Westmoreland, coinciding with the announcement from the 
Queensland Government that uranium mining will be recommencing in the state. 
The proceeds of the Offering will enable us to accelerate a number of programs 
at our projects in Australia and United States," Mr. Henderson stated. 
Funds raised pursuant to the Offering will be used primarily to: 


    --  Advance the Company's flagship Westmoreland Project in
        Queensland, through additional exploration activities,
        completion of an updated preliminary economic assessment and
        commencement of the permitting process;
    --  Commence an exploration program at the recently completed Rio
        Tinto Murphy Farm-in and Joint Venture in the Northern
        Territory on a number of strategically located uranium
        tenements, along strike from Westmoreland;
    --  Further advance the La Sal II Uranium Mine Project in Utah,
        United States, which recently entered into a toll milling
        agreement with Energy Fuels Inc.'s White Mesa mill and for
        certain other obligations related to the U.S. assets; and
    --  To pay the expenses of the Offering and for general working
        capital purposes.

The Offering is subject to certain conditions including, but not limited to, 
the receipt of all necessary regulatory approvals, including the approval of 
the ASX and the TSX. The Offer closing date is expected to occur on February 
25 and the official quotation on the ASX will occur in March. Additional 
updates on timing will be provided.

The prospectus is intended for use only in connection with the offering of the 
Company's securities in Australia and is not to be construed as an offering in 
Canada or any other jurisdiction. This press release shall not constitute an 
offer to sell or the solicitation of an offer to buy nor shall there be any 
sale of the securities in any jurisdiction where such an offer, solicitation, 
or sale would be unlawful.

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.

This press release contains forward-looking statements. The actual results 
could differ materially from a conclusion, forecast or projection in the 
forward-looking information. Certain material factors or assumptions are 
applied in drawing a conclusion or making a forecast or projection as 
reflected in the forward-looking information.

For further information 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

Peter Mullens, Vice President Exploration Brisbane, Australia +61 (7) 3831 3407

Greg Ferron, Vice-President, Corporate Development and IR Toronto, Canada 
+1 (416) 599 7363

SOURCE: Laramide Resources Ltd.

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CO: Laramide Resources Ltd.
ST: Ontario
NI: MNG NEWSTK 

-0- Jan/31/2013 13:22 GMT


 
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