KELOWNA, BRITISH COLUMBIA--(Marketwire - March 11, 2010) - STRATHMORE MINERALS CORP. (TSX VENTURE:STM) ("Strathmore" or "the Company") is pleased to announce that Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA) has been contracted to prepare a Bankable Feasibility Study (BFS) to evaluate the overall project economics of the proposed Roca Honda underground uranium mine in New Mexico. Scott Wilson RPA is a leading international consulting firm that provides independent opinions and carries out engineering studies of mining projects and operations, and related mining development matters. Scott Wilson RPA has successfully served the geological and mining community worldwide since 1985.
The Roca Honda property is located in the eastern part of the Grants Mineral Belt in New Mexico. This project, which is held by Strathmore and Sumitomo Corporation under their jointly owned subsidiary, Roca Honda Resources LLC (RHR), represents one of the largest proposed uranium mines in the United States in the last thirty years. In October 2009, the Roca Honda Mine Permit Application was submitted to state and federal regulatory authorities. In November, the Permit Application was deemed "administratively complete" (see news releases dated October 27, 2009 and December 2, 2009). Preparation of the BFS will coincide with the regulatory review process.
Phase I of the BFS will review and evaluate existing data to identify information gaps required for a thorough analysis of all aspects and issues for the planning of the project. In addition, Scott Wilson RPA will investigate milling options. RHR will oversee the BFS and will coordinate project tasks with Scott Wilson RPA. On March 3rd, RHR held a management meeting with Scott Wilson RPA to review geology, resource estimates, mine design, economic, and environmental/permitting work completed to date, in addition to setting goals, assigning roles and responsibilities, and establishing timelines. It is anticipated that Phase I of the BFS will be completed by late summer.
Updates will be provided 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".
ROCA HONDA RESOURCES LLC is a jointly owned subsidiary of Strathmore Minerals Corp. and Sumitomo Corp. that holds the Roca Honda uranium development project in New Mexico
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.