Laramide Resources Ltd. — Capital/Financing Update 2013

Apr 25, 2013

Updated Replacement Prospectus balance sheet of Laramide Resources Limited based on actual funds raised:

Note ASSETS Current Assets Cash and cash equivalents (a) Short Term Investments (b) Accounts receivable Financial assets at fair value through profit and loss Available for sale financial assets (c) Total Current Assets Non-Current Assets Available for sale financial assets (c) Prepaid Royalty Plant and equipment Exploration expenditure Total Non-Current Assets Total Assets LIABILITIES Current Liabilities Accounts payable and accrued liabilities Total Current Liabilities Non-Current Liabilities Long Term Debt Deferred rent recovery Deferred tax liability Total Non-Current Liabilities Total Liabilities Net Assets Equity Issued Capital (a) Reserves Retained Earnings Total Equity	Pro-forma Post the offer as at 30 September 2012 A$ 1,344,607 2,380,654 1,118,930 273,058 6,335,230
	11,452,479
	- 352,336 146,245 73,442,164
	73,940,745
	85,393,224
	2,376,135
	2,376,135
	4,652,388 103,647 2,690,955
	7,446,990
	9,823,125
	75,570,099
	118,583,630 21,310,195 (64,323,726)
	75,570,099

Notes to the financial information presented:

• (a) Adjustment for cash proceeds from raise of $1,833,274 (and issue of CDI’s to this extent) adjusted for capital raising costs of $622,000.

• (b) Short-term investments are invested in Canadian Chartered Banks in preferred investment accounts and GIC's with a maturity less than three months and are recorded at fair market value.

(c) AVAILABLE FOR SALE FINANCIAL ASSETS

Available for sale financial assets have been reclassified from ‘non-current assets’ to ‘current assets’ as per a change in the Company’s Accounting Policies. Please refer to the attached letter dated 19[th] April from Lawler Hacketts.

The Company's Available for Sale Financial Assets are investments in other companies, most of which are listed on either the Toronto Stock Exchanges or the Australian Securities Exchange and are comprised of the following:

Treasury Metals Inc. Corona Gold Corporation Nation River Resources Ltd. (no quoted value) Alligator Energy Ltd. Uranium Equities Limited Khan Resources Inc. Virginia Energy Resources Inc. Total available-for-sale investments	Number of Shares	Valuation September 30, 2012
	4,993,100 30,000 149,885 4,925,000 6,983,218 7,300,000 1,200,000	4,061,420 19,110 6,547 590,711 300,131 1,216,190 141,121 6,335,230

For more information please refer to the Financial Information section of the Replacement Prospectus dated 14 February 2013.

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19 April 2013

Australian Securities Exchange Ltd Exchange Plaza No. 2 The Esplanade Perth WA 6000

LARAMIDE RESOURCES LIMITED - WORKING CAPITAL

We are writing to you on behalf of our client, Laramide Resources Ltd (“Laramide”). Laramide recently submitted a prospectus ("Prospectus") to raise capital and list on the Australian Securities Exchange (“ASX”). Lawler Hacketts Audit are the auditors of Laramide’s Australian based subsidiary companies, ie. Lagoon Creek Resources Pty Ltd (“Lagoon”), Westmoreland Resources Pty Ltd (“Westmoreland”) and Tackle Resources Pty Ltd (“Tackle”). Lawler Corporate Finance (“LCF”) prepared an investigating accountants report (“IAR”) on the financial information included in Laramide’s recent prospectus. LCF is a related entity to Lawler Hacketts Audit.

For the purposes of satisfaction of Listing Rule 1.3.3B we attach a Pro Forma Statement of Financial Position as at 30 September 2012, prepared by the company (Schedule 1) which shows a working capital position, represented by net current assets, which meets the requirements of the ASX.

The Pro Forma Statement of Financial Position presented in Schedule 1 consists of the ‘reviewed’ Statement of Financial Position of Laramide Resources Limited as at 30 September 2012 which was included in its Prospectus recently submitted, adjusted for two significant transactions or accounting adjustments (“Pro Forma adjustments”) which have occurred subsequent to 30 September 2012, being:

1. Subscriptions received in relation to the capital raising of $1,833,274, offset by estimated cash issue expenses (including preparation and capital raising fees) of $622,000; and

2. A Change in Accounting Policy resolved by the Directors of Laramide Resources Limited which has resulted in a reclassification of ‘Available for Sale Financial Assets’, previously shown as ‘non-current assets’, to ‘current assets’.

The Directors of Laramide are responsible for the preparation and presentation of the Pro Forma Statement of Financial Position and the Pro Forma adjustments, set out in Schedule 1.

The presentation of this Pro Forma Statement of Financial Position and Pro Forma adjustments included in Schedule 1 is consistent with our understanding of the transactions and their impact on the financial information presented.

Yours faithfully

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Shaun Lindemann Partner

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Schedule 1

Statements of Financial Position

Note Current Assets Cash and cash equivalents (a) Short Term Investments Accounts receivable Financial assets at fair value through profit and loss Available for sale financial assets (b) Total Current Assets Non-Current Assets Available for sale financial assets (b) Prepaid Royalty Plant and equipment Exploration expenditure Total Non-Current Assets Total Assets	Reviewed as at 30 September 2012 A$ $1,833,274 Subscription Pro-forma Post the offer as at 30 September 2012 A$ 133,333 1,344,607 2,380,654 2,380,654 1,118,930 1,118,930 273,058 273,058 - 6,335,230
	3,905,975 11,452,479
	6,335,230 - 352,336 352,336 146,245 146,245 73,442,164 73,442,164
	80,275,975 73,940,745
	84,181,950 85,393,224

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Statements of Financial Position (continued)

Note Current Liabilities Accounts payable and accrued liabilities Total Current Liabilities Non-Current Liabilities Long Term Debt Deferred rent recovery Deferred tax liability Total Non-Current Liabilities Total Liabilities Net Assets Equity Issued Capital (a) Reserves Retained Earnings Total Equity	Reviewed as at 30 September 2012 A$ $1,833,274 Subscription Pro-forma Post the offer as at 30 September 2012 A$ 2,376,135 2,376,135
	2,376,135 2,376,135
	4,652,388 4,652,388 103,647 103,647 2,690,955 2,690,955
	7,446,990 7,446,990
	9,823,125 9,823,125
	74,358,825 75,570,099
	117,372,356 118,583,630 21,310,195 21,310,195 (64,323,726) (64,323,726)
	74,358,825 75,570,099

Notes to the financial information presented:

• (a) Adjustment for cash proceeds from raise of $1,833,274 (and issue of CDI’s to this extent) adjusted for capital raising costs of $622,000.

• (b) Adjustment of available for sale financial assets from ‘non-current assets’ to ‘current assets’ as outlined above.