Strathmore Minerals Corp.

Strathmore Minerals Corp.

September 19, 2007 09:02 ET

Strathmore Acquires Marquez Uranium Property, McKinley County, New Mexico: Historical Resource Exceeds 9 Million Pounds U308

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2007) - Strathmore Minerals Corporation (TSX VENTURE:STM) is pleased to announce that its wholly owned subsidiary, Strathmore Resources (US) Ltd. ("Strathmore" or "the Company") has entered into a binding Letter of Intent ("LOI") to acquire the Marquez Uranium Property in McKinley and Sandoval Counties, New Mexico. The Property is located at the eastern edge of the Grant's Uranium District in northern New Mexico. The Grant's District was the most prolific uranium mining region in the world during the last uranium cycle, with cumulative production exceeding 340 million pounds U308.

The Marquez Property contains an estimated 2,754,000 tons averaging .17% for a historical resource totaling 9,362,000 lbs. U3O8 (Not NI 43-101 compliant). The historical resource estimate was calculated using the circle-tangent method, based on a cut-off grade of 0.10% and a minimum thickness of 6 feet. Uranium mineralization is hosted as "roll-front" deposits within sandstone units of the West Water Canyon Member of the Jurassic Morrison Formation (Source: Kerr McGee Resources Internal Document, 1980).

The Marquez Property comprises 14,582 acres (approximately 5,900 Ha), and includes the western extent of the historically known Marquez/Bokum ore body. The property was previously explored during the 1970s and 1980s by Kerr-McGee Resources Corporation, which was one of the largest uranium mining companies in the world. Kerr-McGee drilled in excess of 390 exploratory bore holes (greater than 800,000 feet total drilling) on the main property. In the late 1970s Kerr-McGee began mine development operations. Production was expected to begin during the early 1980s by conventional underground mining methods. The Bokum mill was constructed approximately one mile away on an adjoining property, but the Marquez project was abandoned when the uranium price collapsed, and the mill was later dismantled.

In 2004, Strathmore acquired all pertinent historical data (gamma logs, geologic studies, feasibility studies, mine plans, etc) for the Marquez Property from Rio Algom Mining Corp. This valuable information made up part of the data base that was included in the Roca Honda and Church Rock property acquisitions. As such, the acquisition of the Marquez property is a significant and strategic win for the Company. The property complements Strathmore's extensive uranium holdings in New Mexico, most notably the Company's flagship Roca Honda Property (17.5 million lbs. Measured & Indicated Resource at an average grade of .23% U3O8 and an Inferred Resource totaling 15.8 million lbs. at an average grade of .17% U3O8: NI 43-101 compliant; see News Release dated April 4, 2006) which is currently being permitted for full-scale conventional mining/milling production with its Joint Venture partner, Sumitomo Corp. of Japan (see News Releases dated: June 21, 2006; Sept. 5, 2006; Nov. 20, 2006; May 14, 2007; July 26, 2007).

Strathmore's geologists and engineers have begun reviewing all the pertinent geologic, mining and exploration data on the Marquez project. The preparation of a NI 43-101 technical report and updated resource estimate is expected for later this year.

The foregoing historical resource estimates were completed prior to the implementation of NI 43-101. Given the quality of the historic work completed on the Marquez property and the production history of the Grants Mineral District in New Mexico, 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 NI 43-101 guidelines.

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.


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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