STRATHMORE MINERALS CORP ("the Company") is pleased to announce that the Company's Santa Fe based uranium mine development office has initiated the mining permit application process for its premier Roca Honda uranium deposit. Roca Honda is located in the Grant's Mineral Belt in New Mexico, which yielded over 300 million lbs of cumulative uranium production, and was the largest producing uranium district in the world during the last uranium cycle.
The Roca Honda uranium property consists of 63 unpatented mining claims located on land owned by the Federal government and administered by the US Bureau of Land Management (BLM). In addition, the property includes one State of New Mexico Lease. The combined land package is 745 hectares (1,840 acres) in size. The Roca Honda property is not adjacent to, or near land owned by the Navajo Nation
In April 2006, the Company announced that it had completed a National Instrument 43-101 compliant resource estimate. Based on available drill hole information, a measured and indicated mineral resource of 17,512,000 lbs. U3O8 contained within 3,782,000 tons at an average grade of 0.23% U3O8 was estimated for the Roca Honda property. An additional 15,832,000 lbs. at an average grade of 0.17% U3O8 are estimated as an inferred mineral resource.(See Strathmore news release dated April 4, 2006) The NI 43-101 Roca Honda independent technical report (March 6, 2005) and resource update (March 31, 2006) can be viewed on SEDAR (www.sedar.com) and the Company's website (www.strathmoreminerals.com). A summary of the resource estimate is provided in the following table:
ROCA HONDA NI 43-101 RESOURCE ESTIMATE SUMMARY
Resource Cutoff Tons Grade Pounds Thick
Category GT (%U308) (U308) (Feet)
Measured 0.6 1,305,000 0.23 6,035,000 19.3
Indicated 0.6 2,477,000 0.23 11,477,000 19.5
Total(s) 0.6 3,782,000 0.23 17,512,000 19.4
Inferred 0.6 4,546,000 0.17 15,832,000 19.3
As part of its data gathering efforts, Strathmore has completed, commissioned or is planning feasibility studies, which includes conventional mining and milling operations (see news releases date April 19 and June 26, 2006) a Cultural Resource Clearance Survey, and baseline environmental reports.
Roca Honda is the second mine permit application to be initiated by the Company in New Mexico. Strathmore's first ISR (In-Situ Recovery) project at Church Rock is presently in the second year of its permit application. All work in progress is being managed by Mr. Juan Velasquez, Vice President Environmental and Regulatory Affairs and Mr. John DeJoia, Vice President Technical Services, based in Santa Fe.
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 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
For Investor Relations:
Bob Hemmerling/Craig Christy
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