Strathmore Minerals Corp.
TSX VENTURE : STM

Strathmore Minerals Corp.

November 02, 2006 11:02 ET

Strathmore Minerals Acquires Exploration Project in the Prolific Gas Hills Uranium District of Wyoming

KELOWNA, BRITISH COLUMBIA--(CCNMatthews - Nov. 2, 2006) - STRATHMORE MINERALS CORP. (the "Company") (TSX VENTURE:STM) is pleased to announce that the Company has recently acquired the JEEP Property, located within the Gas Hills Uranium District of central Wyoming, by staking of 96 lode mining claims totaling approximately 770 hectares (approximately 1,900 acres). The Gas Hills Uranium District was one of the most prolific uranium producing areas in the United States during the last uranium cycle, with total production exceeding 100 million pounds. The majority of this production occurred predominantly from conventional open-pit mining. The JEEP Property is located 45 miles east of Riverton Wyoming, home of the Company's US exploration and development office.

In the 1970's the JEEP property was explored by Federal-American Partners (FAP) and the Tennessee Valley Authority (TVA). During the mid-1980s, further exploration drilling and geologic assessments were completed by Pathfinder Mines Corporation (now a subsidiary of AREVA). By 1986, extensive drilling had defined a strong uranium trend to the edge of the property's boundary. Further exploration was subsequently abandoned due the continued decline in the price of uranium at that time. The uranium is hosted along roll-fronts within sandstone deposits of the Eocene Wind River Formation. Depth to the mineralization is approximately 300 feet. The uranium mineralization appears amenable to in-situ extraction since the roll fronts are confined between shales and mudstones and occur below the water table.

This acquisition includes not only the known mineralized trend, but an entirely new unexplored area that offers an excellent opportunity to extend the existing mineralization. Significant infrastructure exists on the property, including haulage roads, electrical power lines and a natural gas pipeline The Company has targeted the JEEP Property for near term exploratory drilling. A 6,000 meter drill program is being planned, the timing of which will be subject to state regulatory approval and receipt of a drill permit. In addition, due to the advanced nature of this project, the Company has initiated archaeological, floral and fauna studies, which would be required prior to progressing to the mining permit application stage.

STRATHMORE MINERALS CORP. is a Canadian based company focused on becoming a United States Uranium Producer. 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.

ON BEHALF OF THE BOARD

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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