LARAMIDE RESOURCES LTD.

Laramide is a Canadian company engaged in the exploration and development of high-quality uranium assets based in Australia and the United States. The Company is co-listed on the Toronto Stock Exchange (TSX) and the Australian Securities Exchange (ASX) under the symbol "LAM". Laramide provides investors with exposure to uranium assets through its portfolio of projects chosen for their production potential and location in safe and politically stable jurisdictions, including Westmoreland in Australia and two development stage assets, La Sal and La Jara Mesa, in the United States. Within the portfolio are also joint ventures, farm-in arrangements, strategic equity positions and royalty participation in uranium development and exploration companies that provide additional diversification. Laramide’s flagship, the Westmoreland Uranium Project, is located in Queensland, Australia, adjacent to the Northern Territory border. The Westmoreland Project tenements are contiguous and are located as a group approximately 400 kilometres north-northwest of Mt Isa. Laramide’s wholly owned subsidiary, Tackle Resources Pty Ltd, owns 100% of Westmoreland, and continues to advance the project through drilling programs, updated resource estimates, environmental studies and metallurgical studies. The Westmoreland Project has an Indicated Mineral Resource totalling 36.0 million pounds of uranium (U3O8) contained in 18.7 million tonnes at an average grade of 0.089% U3O8 and a further Inferred Mineral Resource totalling 15.9 million pounds of uranium contained in 9.0 million tonnes at an average grade of 0.083% U3O8.

Toronto, Canada – Laramide Resources Ltd. (“Laramide” or the “Company”) announces a proposed non-brokered private placement (the “Offering”) of up to 2,500,000 units (the “Units”) of the Company at a price of $0.80 per Unit, for aggregate gross proceeds of $2.0 million. Each Unit will consist of one common share (a “Common Share”) of the Company and one-half of one common share purchase warrant (each full warrant a “Warrant”) with each Warrant entitling the holder to purchase an additional Common Share of the Company at an exercise price of $1.00 per Common Share for a period of 2 years from the closing date of the Offering. The closing of the Offering is expected to occur on or about December 29, 2011 and is subject to the completion of formal documentation and receipt of regulatory approval, including the approval of the Toronto Stock Exchange. The Units will be offered on a private placement basis and will be subject to a four-month hold period. Insiders of the Company will be participating in the Offering for approximately 25% of the issue. The Company plans to use the proceeds of the Offering to fund its Westmoreland project in Australia, the La Sal project in Utah, U.S and for general corporate purposes. To learn more about Laramide, please visit the Company’s website at www.laramide.com. About Laramide: 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 venture, strategic equity positions and royalty participation in uranium development and exploration companies that provide additional geographic diversification and uranium exposure for shareholders.