Strathmore Minerals Corp.

Strathmore Minerals Corp.

October 11, 2007 09:01 ET

Strathmore/Yellowcake Joint Venture Updates Jeep and Juniper Ridge, Wyoming, Uranium Projects

KELOWNA, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2007) - Strathmore Minerals Corporation ("Strathmore" or "the Company") (TSX VENTURE:STM) is pleased to update shareholders regarding recent developments at the JEEP and Juniper Ridge projects in Wyoming, which have been joint ventured with Yellowcake Mining Inc.

At the Jeep Property, located in the Gas Hills Uranium District, 54 lode mining claims were added to the project earlier this summer, bringing the total number to 152 claims. This addition increased the project to 3,140 acres (1,270 Ha) in size. Previously the Company announced the filing of a National Instrument 43-101 measured and indicated resource estimate for the Jeep property of 316,636 tons grading 0.08% U3O8 for 483,395 pounds with an additional inferred resource of 152,762 tons grading 0.05% U3O8 for 168,003 pounds (see press release dated July 23, 2007). In this press release, the property's size was upgraded to the 3,140 acres but the additional new claims were not included. The Joint Venture recently completed a 4,000 meter summer exploration drill program at the property (see press release dated September 18, 2007) and is reviewing plans for continued exploration activities to be carried out next year.

At the Juniper Ridge Property, located in the Poison Basin Uranium District of south-central Wyoming, 73 lode mining claims were added to the project earlier this summer, bringing the total number there to 201 claims in addition to one State of Wyoming Mineral Lease. This addition increased the project to 4,793 acres (1,940 Ha) in size from the previous 3,200 acres. The Juniper Ridge Project has an inferred historical resource (see press release dated February 1, 2007 under heading Red Creek) of 2,750,000 tons grading 0.10% U3O8 grade for 5,500,000 pounds (not NI 43-101 compliant).

Permitting activities at Juniper Ridge are ongoing. The Joint Venture recently received permits to begin the installation of six wells to monitor groundwater. Upon completion, pump tests will be performed to determine the hydrologic characteristics and samples will be obtained to determine baseline water quality. Drilling and installation activities are scheduled for spring 2008. In addition, plans for extensive exploration drilling to increase the extent of the known mineralization are under preparation.

The foregoing historical resource estimates for the Juniper Ridge property were completed prior to the implementation of NI 43-101. Given the quality of the historic work completed and the production history in Wyoming, the Company believes the resource estimate 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 policy NI 43-101.

Yellowcake Mining Inc. is a Nevada based uranium exploration and development company and is committed to spending US$10 million over 6 years for a 60% interest in the Jeep Project. Strathmore has retained the right to an 11% buyback at the Jeep Project. At the Juniper Ridge Project, Yellowcake has the option to acquire an 80% interest by spending US$8 million over the next 5 years.

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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