Strathmore Minerals Corp.
TSX VENTURE : STM

Strathmore Minerals Corp.

August 15, 2007 09:02 ET

Strathmore/Sumitomo Roca Honda, New Mexico, Uranium Property-Project Update

KELOWNA, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2007) - Strathmore Minerals Corp. (TSX VENTURE:STM) is pleased to announce that its subsidiary, Strathmore Resources (US) Ltd. ("Strathmore" or "the Company"), has begun installation of four monitor wells as part of its continuing effort to permit its proposed Roca Honda uranium mine project near Grants, New Mexico. The Roca Honda Project is Strathmore's first conventional mining operation under development in New Mexico. It has a NI 43-101 compliant Measured and Indicated resource totaling in excess of 17,500,000 pounds U3O8, an Inferred resource of approximately 15,800,00 pounds U3O8, and demonstrates significant potential for additional resources within the project area. The Company recently completed a joint venture agreement with Sumitomo Corp of Japan to further develop this project (Please see the Company's news release dated July 26, 2007).

The four monitor wells will be drilled to depths of approximately 2,000 feet (610 m) and will enable the Company to obtain vital geologic and hydrologic information, in addition to further defining the ore body and providing samples for initial mill process studies. On completion, pump tests will be performed on each of the four wells to determine the hydrologic characteristics of the aquifer, and to obtain samples to determine baseline water quality. Planning has also begun for the installation of meteorological and radiological monitoring stations, and the collection of background data. This equipment will be installed at Roca Honda over the next two months. Analysis of these data will be used in mine design and operations planning, as well as supporting the mill process design currently underway. This information comprises an important part of the Company's mine permit application to the New Mexico Mining and Minerals Division.

The Company and its drilling contractor, Stewart Brothers Drilling of Milan, New Mexico, have completed coring and pilot hole advancement at the first of four well locations. Over 200 ft of drill core, representing 5 different uranium bearing sandstone intervals within the Westwater Canyon Member of the Morrison Formation, was collected from this location with an average core recovery of 95%. Drilling operations are running continuously, and are on schedule for completion this fall.

Strathmore is continuing the planning process for the construction of a mill in New Mexico to support the Roca Honda resource. Initial site studies for the mill and tailings, as well as mill process design investigations supported by the current drilling program are underway. Strathmore and Sumitomo will now collectively review and analyze the information obtained during the permitting and feasibility process to ensure the best methods and technologies are employed for the development of this premiere resource.

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".

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.

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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