KELOWNA, BRITISH COLUMBIA--(Marketwire - June 26, 2012) - Strathmore Minerals Corp. (TSX:STM)(OTCQX:STHJF) ("Strathmore" or the "Company") reports that Phase I drilling has been ongoing at the Gas Hills, Wyoming uranium project, as part of the US $8 million exploration, development, and permitting program budgeted for 2012. As at May 31st 2012, the Company's largest drill program to date: 128 drill holes totalling 32,075 feet has been completed. All holes have been logged with a Prompt Fission Neutron Tool (PFN), which directly measures the uranium content, or a gamma probe which indirectly measures the uranium content. Three logging trucks have been used. Two are PFN trucks: one operated by GAA Wireline Services of Casper, Wyoming, and one Company owned and operated by either Strathmore or GAA technical personnel. The third is a conventional Century geophysical truck with a gamma probe.
Drilling has been completed in the following areas within the Main Gas Hills deposits: Bullrush (49 holes totalling 13,300 feet), Loco Lee (46 holes totalling 6,935 feet), George Ver (23 holes totalling 7,110) feet and Day Loma (10 holes totalling 4,730 feet). This program has focussed primarily on confirming the historical resource estimates at George Ver, Loco Lee, and Day Loma, while exploration drilling has targeted the area to the west of Bullrush to test for potential new uranium mineralization.
Approximately 10,675 feet of drilling in 37 holes or 29% of the program to May 31st has been independently logged by GAA Wireline Services using either the PFN tool or gamma probe. The remainder of the logging has been completed by either the Strathmore owned PFN truck, or the Century truck using the gamma probe. Strathmore will report complete program results on receipt of assays from core extracted from select holes sent for analysis to Intermountain Labs of Sheridan, Wyoming, a Nuclear Regulatory Commission accredited facility.
Drilling is continuing in the Main Gas Hills area with four drill rigs, two of which are completing core drilling. Exploration drilling is scheduled to commence in the Beaver Rim area, to the south of the Main Gas Hills deposits, in mid-July.
Strathmore holds a 100% interest in the Gas Hills Properties. Upon completion of the Phase I US$8 million program in 2012, Korea Electric Power Corp. (KEPCO) can elect to participate in a Phase II program, and earn-in up to a 40% interest in the project by incurring US $32 million in expenditures over three years beginning in 2013.
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 on behalf of the company by David Miller, PG (Wyoming) & Chief Executive Officer for Strathmore Minerals Corp., a Qualified Person.
STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of mineral properties in the United States. Headquartered in Vancouver, British Columbia with a branch administrative office in Kelowna, 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 under the symbol "STM" and trade on the OTCQX International electronic trading system in the United States under the symbol "STHJF".
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 the Phase I exploration, development and permitting plans for the Gas Hills properties; 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 outcome of the Phase I and Phase II exploration and development programs; the historical resource estimates; 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 projects; 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