Strathmore Minerals Corp.

Strathmore Minerals Corp.

October 07, 2005 12:19 ET

Strathmore Triples its Land Position in the Grants Uranium District

KELOWNA, BRITISH COLUMBIA--(CCNMatthews - Oct. 7, 2005) - STRATHMORE MINERALS CORP. ("the Company") (TSX:STM) is pleased to announce that it has agreed to acquire a number of leases and claims in the Grants Uranium District of northwestern New Mexico. The properties are near or adjacent to uranium projects currently held by the company. The properties are comprised of 13 State of New Mexico Uranium leases totaling 6,766 acres, and 186 mining claims totaling 4,178 acres for a combined total of 10,944 acres. The acquisitions essentially triple Strathmore's land holdings in the Grant's District. Many of the properties had prior exploration, which identified significant uranium mineralization.

One New Mexico State section of 640 acres, which is contiguous and south of the Company's Roca Honda uranium deposit, has had more than 50 drill holes completed within it. Included in this section is hole 31, which intersected 18 feet of 0.26% U3O8, and hole 33, which intersected 10 feet of 0.45% U3O8. The Company believes that the foregoing mineralized drill intercepts represent the southern extensions to the Roca Honda deposit.

The Roca Honda deposit, which consists of two sections, has a historic measured and indicated resource estimate of 1,826,000 tons at an average grade of 0.31% U3O8 for a contained total of 11,481,000 pounds U3O8. An additional 1.9 million pounds was classified as inferred and undefined potential. The resource estimate was completed by Kerr-McGee in 1995 utilizing polygons and a minimum 6 foot true thickness at a cutoff grade of 0.10% U3O8. Kerr-McGee's estimates are considered to be reliable, as they employed rigorous methodologies based on years of successful operating experience. A 43-101 Report, by David Fitch C.P.G., entitled "Report on the Roca Honda Uranium Property" is available for viewing on the Sedar Website.

Several of the claim groups and leases located south and west of the Company's Nose Rock project are also host to extensions or possible extensions to the mineralized trends observed on the Nose Rock properties. Other leases and claims are located in the Dalton Pass area, Churchrock area, Borrego Pass area and in the Ambrosia Lake area.

The Grants Uranium District is considered one of the premier uranium mining districts in the world. It is the largest uranium producer in the United States with documented past production exceeding 340 million pounds U3O8.

Subject to regulatory approval, the Company will pay US$30,000 for the acquisition of the property.


Strathmore is pleased to report the continued upward movement of the uranium market. The Ux Consulting Company, LLC, reported that spot uranium prices are now at $32.00. The long term price is currently at $33.00 per pound.

The foregoing news release was reviewed on behalf of the company by Jody Dahrouge, P.Geol, of Dahrouge Geological Consulting Ltd., Edmonton, Alta. As the foregoing resource estimates were completed prior to the implementation of NI 43-101 and the company has not done the work necessary to verify the classification of the resource or reserve, they should not be relied upon or considered a defined resource according to NI 43-101.

STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties. STRATHMORE MINERALS CORP Common Shares are listed on the TSX Venture Exchange under the symbol "STM".


Dev Randhawa, President

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.

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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