Annual Technical Report for EL 9414 Reporting Period 4 November 2017 to 3 November 2018

Abstract

Lagoon Creek Resources Pty Ltd (LCR), a wholly owned subsidiary of Laramide Resources Ltd, is exploring for sandstone hosted, unconformity related uranium in a number of Northern Territory tenements including EL 9414. Rio Tinto Exploration Pty Ltd (Rio Tinto) is the registered holder of EL 9414 which forms part of LCR's Murphy Project in the Northern Territory. The exploration licence was originally applied for in 1995 and subsequently granted in November 2011. In May 2011 LCR entered into an earn-in and joint venture agreement with Rio Tinto for EL 9414 with LCR appointed as the operator. Details of exploration programs completed by LCR are documented in previous Annual Technical Reports. In July 2018 LCR and Rio Tinto entered into a Sale and Purchase Agreement (SPA) where by LCR would purchase 100% of the Murphy Project, comprising EL 9414 and EL 9319 and a number of ELAs from Rio Tinto. The negotiation of the SPA took 9 months over which time the exploration progress on the Project was paused. During the current reporting period Lagoon Creek Resources advanced the licences that comprise the Murphy Project by undertaking an extensive regional airborne gravity survey as part of the Company's Mineral Systems investigations. While this survey did not extend onto EL 9414, the Company believes that new targets generated by the survey will be applied across all licence areas in future.