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Gold/Mining/Energy : Strathmore Minerals (STM.V)

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From: LoneClone6/21/2010 12:41:36 PM
   of 54
Strathmore Completes NI 43-101 Technical Report for the Marquez Uranium Property, New Mexico
Mon Jun 21, 10:30 AM

KELOWNA, BRITISH COLUMBIA--(Marketwire - June 21, 2010) - STRATHMORE MINERALS CORP. (TSX VENTURE: STM.V) ("Strathmore" or "the Company") is pleased to announce that its wholly owned subsidiary Strathmore Resources (US) Ltd has completed and SEDAR-filed an independent National Instrument 43-101 Technical Report for the Marquez Uranium Property in New Mexico. The Marquez Property, which comprises 14,501 acres, is located in the eastern part of the Grants Mineral Belt in Northwestern New Mexico. It was extensively explored with 384 drill holes completed during the 1970s, and was being developed as a full-scale underground uranium mine by Kerr McGee and the Tennessee Valley Authority, but later abandoned in the 1980s due to prolonged weak uranium prices. Strathmore acquired the Marquez Deposit in 2007.

The Marquez NI 43-101 report provides a Measured and Indicated resource estimate of 3,610,209 tons at an average grade of 0.126% eU3O8 for a total of 9,130,343 pounds. An additional 2,159,520 tons at an average grade of 0.114% eU3O8 for a total of 4,906,695 pounds is classified as an Inferred mineral resource. The following table highlights the quantity and grade for each mineral resource category:

Marquez Uranium Deposit: NI 43-101 Measured, Indicated & Inferred Resource Estimates

Resource Tons Grade % Pounds Ave. Thickness Ave. GT
Measured 998,625 0.126 2,512,301 11.16 1.41
Indicated 2,611,584 0.127 6,618,042 11.28 1.43
TOTAL (M+I) 3,610,209 0.126 9,130,343 11.26 1.42
Inferred 2,159,520 0.114 4,906,695 10.78 1.22

For the mineral resource estimates, polygons, which were centered on the drill holes, were constructed by using perpendicular bisectors halfway between adjacent drill holes (also called area of equal influence, "AOI"). Uranium content was previously calculated using industry standards from gamma-ray logs for each hole by converting counts per second to % eU3O8 (equivalent uranium). Thickness and grade of the mineralized intercepts were assigned to each polygon for determining tonnage, with an assumed tonnage of 15 cubic feet per ton. The AOI of each polygon was limited either by the position of adjoining drill holes, the property boundary, and/or the maximum capped size of the measured (100ft x 100ft), indicated (200ft x 200ft), or inferred (400ft x 400ft) resource categories.

The Marquez technical report was prepared by M. Hassan Alief, Certified Professional Geologist (AIPG #11134), who is a qualified and independent person under National Instrument Policy 43-101. Mr. Alief has over 50 years of geology, mining and exploration experience, with over 28 years specifically toward uranium exploration and development in New Mexico, Texas, Wyoming and other parts of the USA. In the 1970s and 1980s, Mr. Alief served as Chief Geologist at the Mt. Taylor Uranium Mine, located 20 miles west of the Marquez Deposit.

In the technical report, Mr. Alief writes:

"After reviewing the data, reports, cross-sections and other chemical and radiometric data, the author concludes that Kerr McGee had done a professional job in their exploration/development drilling and resource estimations. The new resource estimates generated by Strathmore's geologists are reliable and representative of the Marquez deposit. It is also concluded that there may be some further potential adjacent to outlined mineralized areas. The potential for positive disequilibrium of the Marquez deposit was also addressed by Kerr McGee. These disequilibrium studies ranged from 1.17-1.58 positive disequilibrium; suggesting that more uranium may be present within the Marquez deposit than estimated by Kerr McGee and Strathmore (this report)."

The completion of the Marquez NI-43-101 resource estimate, in addition to the recent closing of the Pine Tree Reno Creek sale, reaffirms the high quality of Strathmore's uranium development property portfolio.

David Miller, Strathmore's CEO, noted, "Strathmore is fortunate to possess an extensive and diverse inventory of uranium properties that, perhaps, may represent flagship projects to many other companies. The Company is committed to advancing its core Roca Honda and Gas Hills uranium development projects, but will continue with its plan to monetize or joint venture non-core properties."

Additional information on Strathmore's New Mexico and Wyoming uranium properties can be obtained by visiting the Company's website at:

The NI 43-101 technical report for the Marquez Property can be viewed in its entirety on the SEDAR website and the Company's website

The foregoing historical resource estimates were completed prior to the implementation of the NI 43- 101 requirements. Given the quality of the historic work completed by Kerr McGee on the Marquez Property discussed herein, the Company believes the resource estimates to be both relevant and reliable. However, a qualified person has not completed sufficient work to classify the historic mineral resources as current mineral resource, and is not treating the historic resources as current. Hence, they should not be relied upon. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43- 101 and reviewed by David Miller, Chief Executive Officer for Strathmore Minerals Corp., a qualified person under National Instrument 43-101. It should be noted that mineral resources which are not mineral reserves do not have demonstrated economic viability as defined by the NI 43-101 guidelines.

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.


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 reasonability for the adequacy or accuracy of this release.


Craig Christy
Strathmore Minerals Corp.
Investors Relations
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