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KELOWNA, BRITISH COLUMBIA--(Marketwire - Dec. 29, 2009) - Strathmore Minerals Corp. ("Strathmore" or "the Company") (TSX VENTURE:STM) announces it has received an unsolicited superior competing offer from a foreign based corporation for its Pine Tree-Reno Creek Properties in Wyoming. The competing offer comprises US$ 17.5 million cash, US $2.5 million in common shares of the Offering Company, to be paid on closing, and a 5% gross production royalty, which can be repurchased in whole or in part by the Offering Company at any time for US $2 million (US $1 million cash and US $1 million in common shares) per 1% royalty reduction. In addition, the Offering Company has matched the previously agreed terms to acquire the interest held by American Uranium Corporation. This offer is subject to satisfactory due diligence, shareholder approval, and financing by the Offering Company, with a closing by March 30, 2010.

Strathmore's Board of Directors has accepted this superior competing offer, and in accordance with the terms of the amended and restated LLC Option Agreement, the Company has promptly provided Bayswater Uranium Corporation with the identity of the Offering Company and details of the superior competing offer, in writing.

Upon receipt of written notification, Bayswater has seven business days to complete the existing transaction or match the terms of the superior competing offer, and elect to receive additional time to complete an amended transaction based on the new superior terms (See press releases dated August 24, October 6, October 22, and December 9, 2009). Bayswater has notified Strathmore that it will formally respond to the superior competing offer on or before January 7th, 2010.

Strathmore will provide further updates, when available.

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 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 plans, 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 Pine Tree-Reno Creek 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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.