Strathmore Minerals Corp.
TSX : STM
OTCQX : STHJF

Strathmore Minerals Corp.

May 02, 2011 10:28 ET

Strathmore Resumes Development Drilling & Permitting Activities in Gas Hills, Wyoming

KELOWNA, BRITISH COLUMBIA--(Marketwire - May 2, 2011) -STRATHMORE MINERALS CORP. (TSX:STM)(OTCQX:STHJF) ("Strathmore" or "the Company") announces the resumption of development drilling and permitting activities at its Gas Hills Uranium Properties in Central Wyoming. This program is a continuation of activities that concluded last November (see news releases dated November 18 and September 15, 2010), that will provide necessary data for the advancement of the mine permit application targeted for submittal later this year. Drilling, which resumed on April 4th is focusing primarily on the Bullrush and Rock Hill areas. To date, nine holes have been completed, all in the Bullrush area, using a Prompt Fission Tool (PFN) to directly measure the uranium content downhole. Hole BR# 8 intersected the strongest mineralization: 12.0 feet grading 0.274% PFNU3O8, (206.0-218.0 feet) in an area untested by the Company.

Bullrush

Of the nine holes drilled at Bullrush, four holes (BR#6-9) were drilled to test an area identified in a 1979 report noting a Union Carbide-delineated deposit at 220 feet deep, described as 3,500 feet in length, 30 feet thick, and 150 feet wide averaging 0.15% eU3O8. Union Carbide intended to develop this deposit as an extension of their open-pit mining operation immediately to the west, but did not mine the project due to declining uranium prices in the 1980s. Strathmore does not carry a historical resource, nor does the Company possess any historical drilling data, other than the 1979 report. Field reconnaissance of the area prior to drilling identified several historical drill holes with Union Carbide permit tags. Initial results from Holes BR #8 and BR#9, drilled 300 feet apart, are encouraging. Strathmore's Hole BR-8 intersected 12.0 feet grading 0.274% PFNU3O8, (206.0-218.0 feet), compared to 12.0 feet of 0.190% eU3O8 recorded with the gamma probe. This difference in recorded uranium content, termed disequilibrium, results in a positive in-balance of 1.47 or 47% more uranium detected in the mineralized intercept than recorded with the standard gamma probe. Hole BR#9, drilled 300 feet to the south of BR#8, intersected 13 feet of 0.085% PFNU3O8 (211.5-224.5 feet) compared to 13 feet grading 0.050% eU3O8; resulting in a disequilibrium factor of 1.68 or 68% more uranium detected than with the gamma probe. Follow-up drilling is planned for this area. The remaining 5 holes were drilled across the Bullrush area to the east, targeting the near-surface deposits (<100 feet deep) where the Company is actively gathering the necessary data for its mine permit application.

The Bullrush drilling results are highlighted in Table 1.

Table 1: Strathmore Minerals – Drilling To-Date Bullrush area, Gas Hills Wyoming

Hole IDLocal Grid (north-east)Collar
(feet)
Depth
(feet)
Thickness
(feet)
Grade %
(PFNU3O8)*
Grade %
(eU3O8)*
Disequilibrium
(PFN / E)**
BR-01840700-22632006492No Significant Mineralization
BR-02840700-22628006492No Significant Mineralization
BR-03841100-22628006485No Significant Mineralization
BR-04841500-2262800648735.0-47.012.00.0280.0142.00
BR-05841900-2262800648520.5-28.58.00.0120.0130.97
BR-06841700-2262400647530.0-32.02.00.0310.0320.98
139.0-141.52.50.0500.0411.24
BR-07841450-2262400646821.0-31.010.00.0140.0081.75
124.0-126.52.50.0540.0590.92
189.0-205.516.50.0180.0131.37
BR-08841200-2262400646838.0-44.56.50.0210.0191.09
206.5-218.512.00.2740.1901.44
BR-09840900-2262400647053.0-57.04.00.0230.0121.95
211.5-224.513.00.0850.0501.68

* rounded to nearest 0.001%.
>0.01% PFNU3O8

**The Disequilibrium Factor (DEF), which measures the ratio between the grades of U3O8 recorded using the PFN probe (% PFNU3O8), as compared to measurements recorded using a standard gamma-ray probe (% eU3O8) is shown in the last column. The PFN logging equipment was manufactured by GeoInstruments Inc of Nacogdoches, Texas. The PFN tool measures the actual uranium content, as compared to the gamma-ray tool, which measures an equivalent grade % based on calibration. A DEF of >1.0 means there is more uranium contained in the mineralized zone than recorded by the gamma-ray probe and in contrast, a DEF of <1.0 means there is less uranium contained in the mineralized zone. Strathmore regularly calibrates their geophysical logging tools at the U.S. Department of Energy's Test Pits located in Casper, Wyoming.

The drill rig has moved from the Bullrush Property and is currently drilling at the Company's Rock Hill property, located 7 miles away near the former Union Carbide uranium mill site in the east Gas Hills. Results from drilling at Rock Hill will be provided when available.

Drilling is being conducted with a reverse circulation drilling rig (RC), operated by Gustin Drilling Company of Kinnear, Wyoming. It is believed to be the first time an RC rig has been used in the Gas Hills Uranium District. The results thus far are very encouraging with excellent sample returns and fast penetration rates. In addition to the RC drilling program, overburden samples are being collected for characterization and bulk mineralized samples for metallurgical studies as part of the final design and completion of a Nuclear Regulatory Commission (NRC) uranium recovery permit application have resumed. Other ongoing permitting studies including floral, faunal, cultural and archaeological, soil analysis, and radiation surveys are underway.

All drill holes have been logged with a Company-owned logging truck equipped with a state-of-the-art calibrated Prompt Fission Neutron (PFN) tool. The PFN tool directly measures the content of uranium in drill holes, overcoming the problem of dis-equilibrium between uranium content and gamma emitting daughter products.

STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of advanced uranium properties in the United States. Headquartered in Vancouver, British Columbia with a branch administrative office in Kelowna, the Company also has a U.S. based Development Office in Riverton, Wyoming and a Government, Regulatory & Environmental Affairs Office in Santa Fe, New Mexico. STRATHMORE MINERALS CORP. Common Shares are listed on the TSX under the symbol "STM" and trade on the OTCQX International electronic trading system in the United States under the symbol "STHJF".

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by David Miller, Chief Executive Officer for Strathmore Minerals Corp., a Qualified Person under National Instrument 43-101.

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, CEO

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