Laramide Resources' US Uranium Projects Receive FAST-41 Covered Status

Laramide Resources, a Canada-based company, has gained FAST-41 covered status for its US uranium projects. The company's portfolio includes advanced uranium projects in Australia, the US, and Kazakhstan, including the Westmoreland Uranium project in northwest Queensland, the Crownpoint-Churchrock Uranium Project and La Jara Mesa project in New Mexico, and an underground project in Utah. In Kazakhstan, the company is exploring over 6,000km2 of the Chu-Sarysu Basin.

Laramide Resources Ltd. (TSX: LAM) has achieved a significant milestone in its uranium exploration and development efforts. The company has been designated FAST-41 Covered Projects for its Crownpoint-Churchrock and La Jara Mesa uranium projects in the United States. This designation, part of the federal infrastructure permitting initiative established under Title 41 of the Fixing America's Surface Transportation ("FAST-41") Act, reflects the strategic importance of these projects and supports an efficient, transparent federal review process [1].

The Crownpoint-Churchrock Uranium Project, located in McKinley County, New Mexico, is one of the largest undeveloped uranium deposits in the U.S. The project comprises two in-situ recovery ("ISR")-amenable uranium deposits, Crownpoint and Churchrock, collectively covered under a U.S. Nuclear Regulatory Commission ("NRC") license, with a renewal application currently in process [1].

The La Jara Mesa Uranium Project, situated in the prolific Grants Mineral Belt of Cibola County, New Mexico, is a significant development-stage asset. The project lies approximately 10 miles northeast of the town of Grants, within the Mount Taylor Ranger District of the Cibola National Forest. The U.S. Forest Service is preparing an Environmental Impact Statement (EIS) in accordance with the National Environmental Policy Act (NEPA) to assess the development of an underground uranium mine and associated surface facilities [1].

Marc Henderson, President and CEO of Laramide Resources Ltd., expressed optimism about the progress made, stating, "We commend the Trump administration for the Executive Order announced on May 23, supporting the acceleration of nuclear energy development in the United States. As momentum builds around a new era for nuclear power, it is important to recognize that uranium is the fundamental starting point of the entire fuel cycle. Our Crownpoint-Churchrock project is one of the largest undeveloped uranium deposits in the U.S. and has the potential to play a central role in securing a domestic supply of this critical mineral. The inclusion of our projects under FAST-41 is a meaningful step, but continued policy support will be essential to overcome the longstanding regulatory and permitting challenges that have constrained U.S. uranium production. We are encouraged by this progress and proud to be part of a national effort to rebuild the nuclear fuel cycle from the ground up" [1].

Laramide Resources Ltd. is focused on exploring and developing high-quality uranium assets in Tier-1 uranium jurisdictions. The company's portfolio includes advanced uranium projects in Australia, the U.S., and Kazakhstan, including the Westmoreland Uranium project in northwest Queensland, the Crownpoint-Churchrock Uranium Project and La Jara Mesa project in New Mexico, and an underground project in Utah. In Kazakhstan, the company is exploring over 6,000 km2 of the Chu-Sarysu Basin [2].

The FAST-41 designation is a step forward in Laramide's strategic plan to secure a domestic supply of uranium and support the growth of the nuclear industry. However, the company acknowledges that continued policy support and overcoming regulatory challenges will be crucial for the successful development of these projects.

References:
[1] https://finance.yahoo.com/news/laramides-churchrock-uranium-project-la-113000589.html
[2] https://finance.yahoo.com/quote/LMRXF/