SYDNEY: Laramide Resources Ltd. has acquired exploration licenses in Sweden’s Hotagen and Arjeplog-Arvidsjaur uranium provinces, marking the company’s entry into a European market that recently lifted a decades-old ban on uranium mining.
The Toronto-based uranium developer, which also has projects in the United States and Australia, paid 600,000 Canadian dollars for a 100% interest in the properties from private vendor Gilpas Resources, a statement said.
The consideration included CA$300,000 in cash and CA$300,000 in common shares. Additional milestone payments of up to CA$400,000 are tied to the delineation of mineral resources containing at least 5 million and 10 million pounds of uranium.
Sweden’s parliament voted in 2025 to repeal its ban on uranium mining, part of a broader policy shift that has reaffirmed nuclear energy as a cornerstone of the country’s long-term energy strategy.
“Sweden has undergone one of the most significant policy shifts in the global uranium sector,” Marc Henderson, Laramide’s president and chief executive officer, said in a statement. “We believe these reforms represent a transformational shift for Sweden’s mining sector and have created an attractive opportunity to establish a strategic position within an emerging European uranium supply chain.”
The newly acquired licenses cover more than 1,700 hectares in two districts that host known uranium occurrences, including the Klappibacken and Pleutajokk deposits. The Arjeplog-Arvidsjaur province contains the Pleutajokk and Duobblon deposits, which collectively hold approximately 28 million pounds of U₃O₈, according to historical estimates.
The Klappibacken Project adjoins a project group that includes a historical mineral resource of 1.8 million pounds grading 0.102% U₃O₈ at the Nordfjället South deposit. The company cautioned that the historical estimates, prepared by previous operators, are not current and have not been verified by a qualified person.
Laramide said initial work will focus on digitizing historical exploration data, integrating geophysical and geochemical datasets, and preparing for field verification and drill targeting. The company noted that the properties may also be prospective for rare earth elements.
Several international companies, including District Metals, Basin Energy, Southern Cross Gold Consolidated and NordX Energy, have recently renewed exploration activity in the region following Sweden’s legislative reforms.
The information in the announcement was reviewed by Rhys Davies, a contractor to the company, who qualifies as a competent person under the JORC Code and as a qualified person under National Instrument 43-101.
Laramide’s shares trade on the TSX, ASX and OTCQX under the symbols LAM, LAM and LMRXF, respectively.
