Strathmore Minerals Corp.

Strathmore Minerals Corp.

January 10, 2005 09:00 ET

Strathmore Expands Athabasca Basin Holdings




JANUARY 10, 2005 - 09:00 ET

Strathmore Expands Athabasca Basin Holdings

KELOWNA, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2005) - Strathmore
Minerals Corp. (TSX VENTURE:STM) is pleased to provide the following
update on activities within the Athabasca Basin, a region that comprises
about 100,000 square kilometers within northern Saskatchewan and
Alberta. The region is host to several major uranium deposits, including
Cigar Lake and McArthur River; two of the highest-grade uranium deposits
in the world. Production from the basin currently accounts for over 30
per cent of the world's supply of uranium, a level that is projected to
increase to 50 per cent by the end of the decade. The Athabasca Basin is
considered one of the most prospective regions in the world for uranium
exploration. Despite the intensive exploration carried out in the past,
large expanses of the basin have yet to be explored. As well, advances
in exploration techniques and a greater understanding of the nature and
geological controls of uranium deposits warrant re-evaluation of various

During December 2004, Strathmore applied for approximately 1.9 million
acres of new exploration permits, covering lands within the Athabasca
Basin, Saskatchewan. The total amount of lands the company now has under
claim, permit or permit application within the Basin, now exceeds 2.8
million acres.

Strathmore Projects, Athabasca Basin

Property Approx. Area Approx. Area
(hectares) (acres)
Athabasca 52,175 130,438
Athabasca(i) 242,752 606,880

Waterbury Lake 42,092 104,012
Patterson Lake 25,048 61,895
Virgin River 9,885 24,713
Davy Lake Permits(i) 632,649 1,563,310
Hall Lake Permits(i) 165,229 408,290
Total(s): 1,169,830 2,899,538
(i) Permit applications.

Recent permit applications were submitted for two large areas within the
Athabasca Basin, Saskatchewan. The permits are currently pending, with
application approval expected by the end of January, 2005.

The Davy Lake Project encompasses about 1.5 million acres along the
northern part of the Athabasca Basin. It is underlain at depth by the
Clearwater, Western Granulite and Tanto basement domains. For much of
the project area, the depth to the basement unconformity is estimated at
depths of less than 600 m. The project is along trend to the southwest
of the Black Lake and Riou Lake projects of UEX Corp.

The Hall Lake Project encompasses about 400,000 acres along the southern
part of the basin. It is underlain at depth by rocks of the Western
Granulite Domain, and much of the project area is estimated to have a
depth to the basement unconformity of less than 600 m.

As a result of these recent additions, Strathmore currently holds the
largest land package in the Athabasca Basin. The company will begin to
evaluate a number of proposed exploration programs for the various

The Company is also pleased to announce that its private placement
announced on December 1, 2004 has closed. The placement consisted of a
total of 543,000 Flow Through shares at $1.95 per share and raised gross
proceeds of $1,058,850. The securities are subject to hold periods that
expire on April 11, 2005 as to 513,000 shares and May 11, 2005 as to
30,000 shares. Credifinance Securities Limited received a finder's fee
of $55,019.25 in cash for a portion of the placement. The funds will be
used for the exploration and development of the Company's Canadian
uranium properties.

STRATHMORE MINERALS CORP. is a Canadian based resource company
specializing in the strategic acquisition and development of uranium
properties. STRATHMORE MINERALS CORP Common Shares are listed on the TSX
Venture Exchange under the symbol "STM".


Dev Randhawa, President


Contact Information

    Strathmore Minerals Corp.
    Dev Randhawa
    Toll Free: 1-800-647-3303
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.