Strathmore Minerals Corporation

COMPANY DATA | INTRODUCTION | PROJECTS IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Strathmore Minerals Corporation is a Canadian based resource company specializing in the strategic acquisition and development of uranium properties on a worldwide basis. Since 1996, the key to the Company's strategy has been to acquire uranium resources that have been previously discovered, but not yet mined. As a result, Strathmore is one of a very few public companies that continues to build a solid base of exploration and development projects that offer investors high leverage to future rising uranium prices. Currently the Company's properties are located in the United States, Canada and Peru. The Company plans on carrying out further work on these properties to confirm these uranium resources as well as determining the potential for other discoveries. Strathmore also plans to acquire additional low cost resource properties as well as potential production targets.

PROJECTS IN HAND

Strathmore Minerals' Canadian uranium properties include Dieter Lake, Duddridge Lake, and Athabasca and the early stage Comstock gold property in British Columbia. In the U.S. it holds the Chord, Roco Honda and Church Rock and Wyoming properties. In Peru the Company has the Macusani uranium property.

Source: Company reports


(1) Canada

(A) Duddridge Lake
The Duddridge Lake property encompasses approximately 10,000 hectares and is located about 100 km northwest of LaRonge, Saskatchewan. Previous exploration was conducted by a number of companies, including Noranda Exploration Company from 1974 to about 1994. Exploration including combined airborne magnetic and radiometric surveys, rock and soil geochemistry and diamond drilling, outlined a uraniferous boulder train along the west side of Duddridge Lake, which extends over an area of about 100 by 1,600 m. Within the boulder train, typical analysis ranged from 0.1 to 0.2% U3O8, with some exceptional values of up to 9.8% U3O8, 1.6% Cu, 0.2 oz/ton Au, and 7.0 oz/ton Ag.

(B) Dieter Lake
The Dieter Lake Uranium Deposit, encompasses approximately 8,000 hectares in north-central Quebec. In total at least 135 drill holes were completed. According to Mineral Bulletin MR 223 (1989; Energy, Mines and Resources Canada) the Dieter Lake Uranium Deposit is host to a possible resource of 10 to 15 million tons at 0.25% U3O8, which equates to approximately 55 to 82 million pounds contained U3O8; or 50 million tons at 0.10% U3O8, which equates to approximately 110 million pounds contained U3O8.

(C) Athabasca Basin
The Company's Athabasca Basin property, located in Northern Alberta and Saskatchewan, comprises about 100,000 sq.km. It hosts the largest and highest grade uranium deposits in the world and currently accounts for more than 30 per cent of the world's annual production of uranium. The property acquired by Strathmore is located approximately 25 km west of the Cluff Lake uranium mine operated by Cogema Resources Inc.

(D) Waterbury Lake Project
The Company has acquired, via staking, approximately 100,000 acres within the eastern part of the Athabasca Basin, near Waterbury Lake in north-central Saskatchewan. The Waterbury Lake Project is located adjacent to the Midwest Project operated by Cogema Resources Inc., and to the northeast of the Cigar Lake Project operated by Cameco Corp.

(E) Comstock
The Company's Comstock property, located in the Slocan Mining Department in British Columbia is a polymetallic Silver-Gold property. The property consists of 3 claims covering 300 hectares located approximately 12 km southeast of Silverton, British Columbia. The claims cover the Comstock and Silver Cup mineral occurrences. According to the BC Government Minfile reports, precious and base metal mineralization occurs in brecciated quartz veins occurring predominantly along the contact of a biotite lamprophyre body and quartz monzonite, both of the Nelson intrusions. 

(2) U.S.A.

(A) New Mexico
The Company's Roco Honda and Church Rock properties are both located within the Grants Uranium Belt of New Mexico, United States. The Grants Uranium District is one of the premier uranium districts in the world, and has produced over 340 million pounds of uranium. Based on over 150 drill holes, prior operators previously reported over 6 million pounds of contained U3O8 for the Church Rock Uranium Deposit. The deposit was previously explored by Kerr McGee of New Mexico. The Roco Honda uranium deposit has previously been reported to contain over 12 million pounds of U3O8, at an average grade of 0.31% U3O8.

(B) Powder River Basin
The Company has agreed to acquire five State of Wyoming mineral leases, totaling 3,200 acres. The leases are all within the Powder River Basin of Wyoming, which is home to two of the three operating uranium in-situ leach ("ISL") mines in the United States. The leases are located between Cameco's Smith Ranch Mine and Cogema's Christensen Ranch Mine.

(C) Cedar Rim Claims
The Company has agreed to acquire the Cedar Rim Claims totaling 800 acres. The leases are all in the Wind River Basin of Wyoming. The property was originally discovered by Exxon Minerals in the 1970's and was controlled by the Pathfinder Group until the late 1980's. Wyoming has produced over 80,000 tonnes of U3O8 (200+ million pounds), half has come from the famous Gas Hills District which lies North East of the Cedar Rim Claims. Nearly all production has been from "roll front" type uranium mineralization.

(D) Copper Mountain
The Company has agreed to acquire the Copper Mountain claims located entirely in the Wind River Basin of Wyoming. Total acreage is approximately 1,500 acres. Drilling has defined uranium mineralization of sufficient size to warrant consideration as a stand-alone mine and heal-leach or conventional mill complex.

(E) Northeast Wyoming State Leases
The Company has agreed to acquire 6 State of Wyoming uranium leases. Total acreage is approximately 4,960 acres. Drilling has defined uranium mineralization in the area and a pilot ISL (in-situ leach) testing was done, nearby. While drilling has occurred on some of the properties acquired, the results and strength of the uranium mineralization present is not known.

(F) Chord
The Company's Chord property situated in Fall River County, South Dakota, covers 23 claims. The property has a drill-indicated resource of 3.8 million pounds U3O8 with an additional potential of 11.8 million pounds for a total uranium resource of 15.6 million pounds U3O8.

(3) Peru

Macusani District
Strathmore's property covers 42 sq.km in the central area of the Macusani District, which covers some 250 sq.km. The property contains significant outcrops of autunite that contains 51% uranium by weight and converts into 60% - 65% U3O8. Autunite occurs in small fractures in many areas. A potential uranium resource for the Macusani District of 50 to 120 million pounds U3O8.

Strathmore has stockpiled some of the high grade uranium it produced from this property. In April, the Company mobilized a ground crew to the property to start a mapping and sampling program of known uranium showings.

MANAGEMENT

Strathmore's Board of Directors and Senior Management include geologists with over 60 years combined worldwide experience in exploration and mining that includes uranium, gold and base metals. This experience compliments other team members, who over the past decade have established a track record for financing and building successful companies.

Devinder Randhawa, MBA, President & CEO
Mr. Randhawa founded Strathmore Minerals Corporation in 1996 and is currently the Company's President and CEO. Mr. Randhawa also founded and is currently the President of RD Capital Inc., a privately held consulting firm providing venture capital and corporate finance services to emerging companies in the resources and non-resources sectors both in Canada and the U.S. Prior to founding RD Capital Inc., Mr. Randhawa was in the brokerage industry for 6 years as an investment advisor and corporate finance analyst. Mr. Randhawa was formerly the President of Lariat Capital Inc. which merged with Medicure in November 1999 and he was the founder and former President and CEO of Royal County Minerals Corp. which was taken over by Canadian Gold Hunter (formerly International Curator) in July 2003. Mr. Randhawa also founded Predator Capital Inc., which became Predator Exploration. Mr. Randhawa received a Bachelor's Degree in Business Administration with Honors from Trinity Western College of Langley, British Columbia in 1983 and received his Masters in Business Administration from the University of British Columbia in 1985.

Robert Quartermain, P.Geol., Director
Mr. Quartermain is a seasoned professional geologist best known for his current role as President and Director of Silver Standard Resources. He has widespread local and international experience. He joined Teck Corporation in 1981 working at the Lamaque gold mine and Newfoundland zinc mine, before being appointed project manager at the David Bell gold mine at Hemlo.

Steven Khan, MBA, FCSI, CFA, Director
Mr. Khan has 20 years of investment industry experience from retail to institutional, corporate finance, capital markets, and investment banking. He currently consults and holds management and director positions with several private and public companies. He has held senior management roles including serving as executive vice president, president, CEO and chairman of a number of regional and national Canadian investment brokerage houses.

Michael H. Halvorson, Director (recently appointed)
Mr. Halvorson has been involved in the securities industry and mining finance since 1967 and is a director of a number of public mining and oil and gas companies.

Jeffrey Reeder, P.Geol., Consultant
Mr. Reeder has over 16 years experience as an independent minerals exploration geologist. He has extensive gold experience throughout North and South America on minerals exploration projects from initial "grassroots" stages to advanced exploration programs. A graduate of the University of Alberta with a B.Sc. in Geology. Mr. Reeder is also fluent in Spanish.

David Miller, P.Geol., Consultant
Mr. Miller, a Current Member of the Wyoming Legislature, is a minerals industry expert in exploration, acquisition and operations. His primary focus has been on uranium, coal bed methane and gold. Mr. Miller worked with Cogema, the second largest producer of uranium in the world, the last 4 years as its chief geologist for in-situ operations in the U.S. He is currently on contract as the American Representative with the International Atomic Energy Agency ("IAEA") in Vienna to update the worldwide uranium deposits, geology and uranium reserves. Mr. Miller recently was under contract with the IAEA to teach uranium geology, exploration, and "in-situ" leach mining at the Beijing Research Institute of Uranium Geology and Mining.

NEWS UPDATE

On August 08, 2005, Strathmore Minerals Corp. announced that its uranium mine development office established in Santa Fe, New Mexico, is now fully operational. The presence in Santa Fe will allow them to better facilitate ongoing feasibility studies and permitting activities on its properties in the United States. The office is managed by Mr. John DeJoia, Vice President of Technical Services, and Mr. Juan Velasquez, Vice President of Environment and Government Affairs. Both are experts in the uranium mine development process and possess approximately 65 years of combined industry experience.

On April 04, 2005, Strathmore Minerals Corp. reported to conduct airborne survey on its Athabasca Basin property. The spring exploration program will consist of a Fugro MEGATEM airborne survey covering a total of 1,750 line-km, which are being flown on northwest-southeast spaced lines at 400 metre spacing. Kit Campbell, P.Geo., of Intrepid Geophysics Ltd. has been retained by the Company to supervise and review the data generated from this geophysical survey.

On March 15, 2005, Strathmore Minerals Corp. announced that with the strong uranium market and the increasing demand for uranium, the Company has established a permitting/feasibility division with the addition of the following two new team members to its technical team. Mr. John DeJoia of Santa Fe, New Mexico has been appointed Vice President of Technical Services. Mr. Juan Velasquez of Albuquerque, New Mexico has been appointed Vice President of Environmental and Regulatory Affairs.

On March 03, 2005, Strathmore Minerals Corp. announced that it has agreed to acquire additional Wyoming uranium properties. Total acreage of these properties is approximately 15,000 acres. The properties consist of State of Wyoming Uranium Leases in the Shirley Basin, Great Divide Basin, Powder River Basin and Wind River Basin. The properties have been held in the past for uranium, however no drill indicated resources are known on the leases. All leases are in the historic uranium districts in each basin and all were near or on trends of mined or drill indicated uranium mineralization.

On February 23, 2005, Strathmore Minerals Corp. confirmed the closing of its private placement announced on January 14, 2005. The placement raised gross proceeds of CDN$15,000,000. The securities issued are subject to a hold period that expires on June 22, 2005. The placement consisted of a total of 10,000,000 units with each unit consisting of one common share and one half share purchase warrant exercisable at $1.75 until February 21, 2006, and thereafter at $2.00 expiring February 21, 2007.

On January 17, 2005, Strathmore Minerals Corp. announced that further to its news release on January 14, 2005, the Company has increased the private placement to a maximum of $15,000,000.

On January 14, 2005, Strathmore Minerals Corp. announced a non-brokered private placement of a minimum of $5,000,000 to a maximum of $10,000,000 at $1.50 per unit. Each unit will consist of one share and one half share purchase warrant exercisable at $1.75 the first year and at $2.00 the second year. Finders fees of 6% and agent warrants of 6% will be payable to Hargreave Hale Limited.

On January 14, 2005, Strathmore Minerals Corp. announced the appointment of Dr. Dieter A. Krewedl to the Company's Board of Directors as he concurrently moves across from the Executive Advisory Board. Dr. Krewedl received his Ph.D. degree in Geology from the University of Arizona in 1973. He has a wide array of dometic and international uranium and precious metal exploration and development experience, which was gained during more than 35 years in the mining industry.

On January 10, 2005, Strathmore Minerals Corp. provided the update on activities within the Athabasca Basin, Saskatchewan. During December 2004, Strathmore applied for approximately 1.9 million acres of new exploration permits, covering lands within the Athabasca Basin. The total amount of land the Company now has under claim, permit or permit application within the Basin, now exceeds 2.8 million acres.

On December 22, 2004, Strathmore Minerals Corp. reported that the three sections that are part of the Noserock area known as Mine Unit #1, it has secured section 36. According to Phillips Uranium section 36 contains 5,189,613 tons ore at a grade of 0.141 U308 which translates to 14,607,708 lbs. U3O8. Section 36 is part of a lease in the famous Grants Uranium District in the San Juan Basin of New Mexico.

On December 14, 2004, Strathmore Minerals Corp. announced that it has agreed to acquire the Noserock State Lease. Total acreage is 640 acres. The lease is in the famous Grants Uranium District in the San Juan Basin of New Mexico. The property was originally discovered by Phillips Uranium Division of Phillips 66 Oil Company in the 1970's. Strathmore will evaluate Noserock as to a conventional underground operation at moderate grade and as a possible "in-situ" leach target. Data and historical work is under acquisition and evaluation. All work was done before establishment of the 43-101 requirements. The Grants Uranium District is home to the largest uranium production in the United States with production exceeding 300 million pounds.

On December 01, 2004, Strathmore Minerals Corp. announced that it has agreed to issue on a non-brokered, private placement basis 1,100,000 flow-through common shares at a price of $1.95 per share for gross proceeds of $2,145,000. The funds will be used for the exploration of the Company's existing Canadian uranium properties. The private placement is expected to be completed on or about December 16, 2004.

On November 25, 2004, Strathmore Minerals Corp. announced that it has agreed to acquire the PT Claims located in the Powder River Basin of Wyoming comprising a total of 600 +/- acres. The Powder River Basin is home to two operating "in-situ leach" (ISL) mines and other known occurrences that may be amenable to recovery by ISL. The property was originally discovered by Utah International Corp. in the 1970's and was controlled by the Pathfinder Group until the late 1980's. The uranium host formation is the Eocene age Wasatch Formation and occurs under the entire area. Historical drilling has indicated that there may be uranium mineralization of sufficient size to warrant consideration as an ISL operation; however, all work was done before establishment of NI 43-101 requirements.

On November 03, 2004, Strathmore Minerals Corp. confirmed the closing of the private placement announced on September 02, 2004. The placement consisted of a total of 2,857,143 common shares at $0.70 per share and raised gross proceeds of $2,000,000. Following on the heels of the above private placement, the Company also announced its private placement announced on September 22, 2004 has closed. The placement consisted of a total of 2,000,000 common shares at $1.00 per share and raised gross proceeds of $2,000,000.

On September 30, 2004, Strathmore Minerals Corporation announced that the Company continues to acquire properties in the Athabasca region of Canada. To date the Company's landholdings total over 800,000 acres within three separate areas: Waterbury Lake, Patterson Lake and Maybelle River. The Company began its acquisition process in late 2003.

The Company also announced that its non-brokered private placement announced September 02, 2004 has closed. The placement consisted of a total of 2,857,143 common shares and raised gross proceeds of $2,000,000. The securities are subject to a hold period that expires on January 28, 2005.

On September 22, 2004, Strathmore Minerals Corporation announced that it has negotiated an additional non-brokered private placement with Sprott Asset Management Inc. The placement will consist of 2,000,000 shares, with no warrant, at a price of $1.00 a share for a total of $2,000,000.

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