Further to the Company's news release on July 19, 2005 Strathmore Minerals Corp. (TSX VENTURE:STM) provides the following additional information regarding its Dieter Lake property.
During the preceding year Strathmore has disclosed certain historical information on the Dieter Lake Property, including several historical resource estimates. Consulting geologist James McCrea, P.Geo. has completed an independent review of historical information on the property. This Technical Report will be available for viewing on the SEDAR website.
Historical information, on the Dieter Lake Property, as summarized by James McCrea, P.Geo., follows:
"The Dieter Lake Property has a documented history of exploration of almost 30 years. Exploration of this region is considered sporadic, with the majority of significant activity occurring in the late 1970's and early 1980's. Some of the prior work reported here is regarding geological exploration either bordering on or partially contained by the current area of the Dieter Lake Property. Exploration, which is site specific, is indicated as being so. This summary is not believed to be all-inclusive and all exploration activities may not be documented herein.
Exploration Development Services Group entered all of the collected UEM data into a computer in 1980. From the compiled data, they constructed variograms taking into account grades and thicknesses, 1:2500 isopachs for wacke thicknesses and top of wacke to basement distances, a 1:10,000 structural map of the basement unconformity, cross sections for the projects division group, and statistical analyses. A historical resource was estimated for the four main zones of uranium mineralization, the Vivian, Nancy I, Nancy II, and Bert's, by the Exploration Development Services Group. It involved computer-assisted data compilation and evaluation, based on data from the 1978-80 diamond drill holes. Using a polygon method and applying a cut-off of 200 ppm over 2 metre thickness, 91 holes were applicable in estimating the resource. The 91 holes averaged 0.055% U3O8 over 2 metres, with a minimum of 0.02% and a maximum of 0.25% over 2 metres; however, the maximum value may not be a true maximum because higher grades from holes 71 (0.34% U3O8 over 1 metre), 99 (0.56% U3O8 over 1 metre, 0.49% U3O8 over 2 metres), and 144 were reduced by a factor of three due to the singularity of the grades (Gehrisch, 1981). A total geological resource of 20 million tonnes with an average grade of 0.049% U3O8 was estimated, indicating a global in situ uranium resource of 9700 tonnes, or 21.3 million pounds, of U3O8 metal (Petura and Plouffe, 1981). The statistical analysis of this data is discussed in the Exploration Section of this report. Historical resource estimates that have been published for the Dieter Lake Property, are summarized in Table 3.
TABLE 3: HISTORICAL RESOURCE ESTIMATES FOR THE DIETER LAKE PROPERTY
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Metric
Historical Tonnage tonnes
Category Grade (metric) U3O8 (lbs) Reference
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Estimated 0.11% U3O8 - 8,600 Petura and
resource (200 ppm (19.0 Plouffe (1981)
applying cut-off) million)
radiometric
ore sorting
Total 0.049% U3O8 20 (21.6 Petura and
geological million million) Plouffe (1981)
ore
reserve
Global in U3O8 metal - 9,700 Petura and
situ (21.3 Plouffe (1981)
resource million)
Possible 0.25% U3O8 10-15 (55 to 110 Sully (1989)
reserves Or 0.10% U3O8 million million)
Or 50
million
Discovered 0.1-0.5 % U - 10,000 Dahlkamp
in situ (cutoff grade of (22.0 (2004)
resources 0.03% U) million)
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As most of the foregoing resource estimates were completed prior to the implementation of NI 43-101, they should not be relied upon or considered a defined resource. Some of the foregoing resource estimates were quoted from third party publications, and not all the original reports are currently available for consultation, hence the historical resource estimates should currently be considered relevant but unreliable. The classification of the foregoing resources does not meet the standards as defined in NI 43-101 and the latest resource quoted being unclassified and estimated from incomplete historical data, it should be considered unreliable. The extent of prior exploration and that it was carried out by a company with a reputation for conducting excellent work, provides some confidence in the estimates."
The foregoing press release was reviewed on behalf of the company by Jody Dahrouge, PGeol., of Dahrouge Geological Consulting Ltd., Edmonton, Alta. The qualified person responsible for the field exploration of the Dieter Lake Property is Clinton Davis, P.Geo., also 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 company specializing in the strategic acquisition of low cost mineral properties. 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
"Dev Randhawa"
Dev Randhawa, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
