Strathmore Minerals Corp.

Strathmore Minerals Corp.

October 10, 2007 09:01 ET

Strathmore Increases Land Position in Gas Hills Uranium District, Wyoming, to Over 29,000 Acres: Company Owns 100% of Six Near-Surface Open-Pit Deposits With Historical Uranium Resources

KELOWNA, BRITISH COLUMBIA--(Marketwire - Oct. 10, 2007) - Strathmore Minerals Corporation (TSX VENTURE:STM) is pleased to announce that its subsidiary, Strathmore Resources (US) Ltd. ("Strathmore" or "the Company") has acquired an additional 13,900 acres (5,625 ha) in the Gas Hills Uranium District, Wyoming, bringing the Company's land holdings there to in excess of 29,000 acres (11,735 Ha). The lands were added by staking 658 claims and acquiring one State of Wyoming Mineral Lease. Historically, the Gas Hills Uranium District is the second largest uranium producing area in the United States with cumulative production exceeding 100 million pounds. Strathmore controls 100% of the Gas Hills projects, which now makes up the Company's core uranium land holdings in Wyoming.

The newly acquired lands are located in the Beaver Rim, which is located immediately south of the historical mining operations conducted by companies including: Utah International/Pathfinder (now COGEMA), Federal American Partners, Union Carbide, among others. Strathmore staked these additional claims to consolidate previously acquired land positions around areas of known deposits that were historically planned, and some fully permitted, for open-pit mining, but were later abandoned when the uranium price collapsed in the mid-1980s. Much of these lands were held continuously from the 1950s before being allowed to lapse just prior to the recent uptrend in the uranium price.

Historically, the Beaver Rim saw limited exploration and development due to the greater depths (greater than 800 feet) necessary to mine uranium mineralization by open-pit methods. Strathmore believes the potential for discovering significant uranium deposits exists as historical data recently acquired (see "Strathmore Issues Shares for Database" Press Release dated: Sept. 19, 2007) suggests that mineralization trends southward from the main mining district onto newly acquired lands. The Company intends to evaluate this area to determine if it is amenable to advanced in-situ recovery (ISR) techniques.

A summary of the historically known deposits in the Gas Hills controlled by Strathmore is shown below: (For additional information see Press Releases dated: Nov. 2, Nov. 9, 2006; Feb. 1, 2007; May 15, 2007; July 23, 2007 found on the Company's website

Resource %
Location Classification Tonnage U3O8 lbs/U308

Gas Hills Historical: 739,565 0.060 949,100
(Andria) Measured & Indicated

Gas Hills Historical: 456,096 0.21 1,940,945
(Day Loma) Measured & Indicated

Gas Hills Historical: Measured & 6,131,504 0.069 8,440,490
(Bull Rush, Indicated

Gas Hills Historical: Demonstrated 696,327 0.11 1,522,000

Gas Hills, NI 43-101 Compliant: 228,743 0.08 377,594
(Jeep), Measured,
Wyoming Indicated & 87,893 0.06 105,801
152,762 0.05 168,003


Permitting activities at the George-Ver/Frazier LeMac deposits are ongoing. In November, the Company plans to drill and install two monitor wells to determine hydrologic characteristics and baseline water quality. For 2008, an exploration drill program is planned to extend the areas of known mineralization. Permitting at the Andria, Bull Rush and Loco-Lee properties is scheduled to begin during the fourth quarter with monitor well installation planned for next summer. In addition, to further develop these near-surface deposits, Strathmore has proposed an extensive exploration drilling program across much of the Beaver Rim. This program is expected to begin during the late spring-early summer of 2008. Finally, the Jeep property, an ISR joint venture project with Yellowcake Mining Corp., is targeted for additional exploration drilling next year in a effort to continue the successful expansion of the uranium resource identified by the recently completed 4,000m drill program (see Press Release dated: Sept. 18, 2007).

The foregoing historical resource estimates were completed prior to the implementation of NI 43-101. Given the quality of the historic work completed and the production history of the Gas Hills Uranium District in Wyoming, the Company believes the resource estimates to be both relevant and reliable. However, a qualified person has not completed sufficient work to classify the historic mineral resource as a current mineral resource. Hence, they should not be relied upon. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed by David Miller, President and Chief Operating Officer for Strathmore Minerals Corp., a qualified person under NI 43-101 guidelines. It should be noted that mineral resources which are not mineral reserves do not have demonstrated economic viability as defined by NI 43-101 guidelines.

STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of 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, President and COO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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