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Strathmore Minerals Corp.: Strathmore Sells Certain Wyoming Uranium Mineral Leases to Peninsula Minerals

^{Published on 2009-08-25 08:08:46, Last Modified on 2009-08-25 08:08:47 - Market Wire}
 

KELOWNA, BRITISH COLUMBIA--(Marketwire - Aug. 25, 2009) - STRATHMORE MINERALS CORP. ("Strathmore" or the "Company") (TSX VENTURE:STM) announces that its wholly owned subsidiary Strathmore Resources (US) Ltd. has agreed to sell seven state uranium mineral leases, located in Crook County, Wyoming to Strata Energy Inc., a wholly owned subsidiary of Peninsula Minerals Limited of Australia. The leases, which comprise a total of 5,640 acres, were acquired by Strathmore in 2004. The state leases represent assets found outside Strathmore's core Gas Hills uranium development project. Peninsula is developing their Lance Project near Oshoto in northeastern Wyoming, and the acquired leases enable that company to consolidate its land position in the area.

Strathmore will receive 5,000,000 common shares of Peninsula for the properties. In addition, Strathmore will retain a royalty. Peninsula will have the option to purchase the Strathmore royalty in part or in whole for a period of 3 years. In order to comply with state title transfer procedures, the transaction is expected to close by December 31st, subject to regulatory approvals.

Strathmore holds a diverse uranium property portfolio in Wyoming and New Mexico. The Company is continuing to evaluate alternatives for its non-core properties. A list of all Strathmore's uranium properties and resources can be found on the Company's website [ www.strathmoreminerals.com/s/ResourceTable.asp ].

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 contains "forward-looking information" that is based on Strathmore Minerals Corp.'s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Strathmore's exploration and development lands, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Strathmore's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the historical resource estimates, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes in input prices; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining, or advancing, the project; and labour relations matters.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward looking information. Strathmore Minerals Corp. disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

ON BEHALF OF THE BOARD

David Miller, CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.