Strathmore Minerals Corp.

Strathmore Minerals Corp.

April 07, 2010 19:19 ET

Strathmore Completes Pine Tree-Reno Creek Sale to Bayswater Uranium Corporation

KELOWNA, BRITISH COLUMBIA--(Marketwire - April 7, 2010) - STRATHMORE MINERALS CORP. ("Strathmore") (TSX VENTURE:STM) is pleased to announce that it has completed the sale of its Pine Tree-Reno Creek Properties in Wyoming to Bayswater Uranium Corporation ("Bayswater"). Total gross proceeds received from this transaction include US $17.5 million cash and Bayswater common shares valued at US $2.5 million. Strathmore retains a 5% gross production royalty, which can be repurchased in whole or in part by Bayswater at any time for US $2 million (US $1 million cash and US $1 million in common shares) per 1% royalty reduction.

As a result of this transaction, Strathmore now owns 4,422,807 common shares of Bayswater, representing in the aggregate, approximately 19.9% of the issued and outstanding shares of Bayswater. Strathmore intends to hold these securities for investment purposes only, and may increase or decrease its holdings, in the open market, by privately negotiated agreement, or otherwise, depending on market and other conditions. Prior to this transaction, Strathmore owned or controlled no common shares of Bayswater.

This transaction has enhanced Strathmore's current working capital position to approximately C$29 million. The added financial resources will enable Strathmore to strengthen corporate initiatives and further advance its core uranium development projects: Roca Honda, New Mexico and Gas Hills, Wyoming.

STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of advanced uranium properties in the United States. 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.


"David Miller"
David Miller, CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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