Strathmore Minerals Corp.
TSX VENTURE : STM

Strathmore Minerals Corp.

May 15, 2006 09:30 ET

Strathmore Commences Drilling at Waterbury Lake, and Additional Geophysical Surveys at Patterson Lake

KELOWNA, BRITISH COLUMBIA--(CCNMatthews - May 15, 2006) -

Waterbury Lake

Strathmore Minerals Corp. ("the Company")(TSX VENTURE:STM) has commenced drilling at its 100-per-cent-owned Waterbury Lake project located within the eastern part of Saskatchewan's Athabasca basin. The Waterbury Lake property comprises approximately 40,468 hectares (about 100,000 acres) and covers land to the north, east and west of the Cogema - Denison Midwest Uranium Deposit. Due to an early spring break-up, this program was delayed from a planned start date of late March. It is anticipated that a minimum of 8 holes totaling 2,500 m will be completed at three locations. The program is expected to be completed during the next 4 weeks.

During the spring of 2006, SJ Geophysics Ltd. completed a UTEM ground geophysical survey along the northern extension of the Midwest Conductor. As previously reported (March 14, 2006), the MegaTEM geophysical survey completed by the Company shows this conductor to extend northerly from the Midwest Uranium Deposit and onto Strathmore's Waterbury Lake Property. This conductor will be tested at two locations.

Within the northwest part of the Waterbury Lake property, the Murphy Lake Conductor is approximately nine kilometers in length. It was previously tested by five drill holes, which were spaced between 1.2 and 2.0 km apart. These holes intersected varying intensities of hydrothermal alteration, and four contained highly anomalous concentrations of uranium varying from 37 to 302 ppm U3O8 across widths of 0.2 to 4.0 m. At least three additional locations will be tested along this conductor.

Patterson Lake

The Company also wishes to report that it has initiated a program of ground and airborne geophysics at its Patterson Lake Property, located in the southwest part of the Athabasca Basin. The Patterson Lake property encompasses approximately 25,000 hectares (about 62,500 acres) and is located about 30 kilometers south of UEX Corp. and Cogema Resources Inc.'s Anne and Colette uranium deposits near Shea Creek.

Exploration will include additional airborne geophysical and ground geophysical surveys. Approximately 50 km of surface grid was cut overlying the Harrison Lake conductive trend, located within the southern part of the property. Max-min and resistivity surveys will be carried out to better define conductor and fault locations, in advance of drilling.

This news release was prepared on behalf of the company by Jody Dahrouge, P.Geol., of Dahrouge Geological Consulting Ltd., Edmonton, Alta. Mr. Dahrouge is the qualified person responsible for the exploration of Waterbury Lake and Patterson Lake.

We seek Safe Harbor.

STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties. Headquartered in Kelowna, British Columbia, the Company also has U.S. based Development Offices in Riverton, Wyoming and Santa Fe, New Mexico. STRATHMORE MINERALS CORP Common Shares are listed on the TSX Venture Exchange under the symbol "STM".

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

ON BEHALF OF THE BOARD

David Miller, President and COO



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