2024 Begins Drilling at Agate

Rhea-AI Summary

Strathmore Plus Uranium (TSXV: SUU, OTCQB: SUUFF) has begun its 2024 exploration drilling program at the 100% owned Agate Project, starting June 6. This follows successful 2023 finds, such as hole AG-10-23 with 16 feet of 0.081% eU3O8 and hole AG-16-23 with 21 feet of 0.089% eU3O8. The new spring drill program aims to explore additional mineralization on the property.

Strathmore has received approval to drill 200 more holes totaling 30,000 feet and has posted a reclamation bond. They will also install monitor wells for groundwater tests. Initial targets are set one mile south of 2023 drill sites. Historical data from Kerr McGee Corp indicates potential uranium mineralization in Wyoming-type roll front deposits.

Mr. Jeremy Wiebe is transitioning from the Board of Directors to the Advisory Board due to new professional obligations, while development continues on the Agate Project.

Positive

• Strathmore Plus Uranium started 2024 drilling at Agate Project, aiming to expand on 2023 discoveries.
• 2023 drill results include 16 feet of 0.081% eU3O8 and 21 feet of 0.089% eU3O8.
• Received approval for an additional 200 drill holes totaling 30,000 feet.
• Posted a reclamation bond, ensuring environmental compliance.
• Historical data suggests potential high-grade uranium mineralization.
• Close proximity to major uranium projects by Cameco, UR-Energy, UEC, and Energy Fuels.

Negative

• Transition of Jeremy Wiebe from Board of Directors to Advisory Board may signal internal adjustments.
• Investment in drilling and monitor wells increases operational costs.
• Historical data's potential may not guarantee future success.

Kelowna, British Columbia--(Newsfile Corp. - June 10, 2024) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce the mobilization of a drill rig and crew to its 100% owned Agate Project. Exploration drilling started June 6. The spring drill program aims to build on the successful discoveries made in 2023, including notable findings, including hole AG-10-23 (16 feet of 0.081% eU3O8) and hole AG-16-23 (21 feet of 0.089% eU3O8). The program will also explore for additional mineralization across the property.

Strathmore's properties are close to current uranium development projects, including Cameco, UR-Energy, UEC and Energy Fuels.

Strathmore received approval to drill an additional 200 holes (totaling 30,000 feet) at the Agate Project. The reclamation bond has been posted, and Strathmore has again retained, Single Water Services, and geophysical specialist, Hawkins CBM Logging.

Historical exploration by Kerr McGee Corp identified several areas of potential uranium mineralization across the Project, contained within Wyoming-type roll front deposits.

The initial target area for this phase lies one mile south of the 2023 drill sites, where intercepts included 4 feet of 0.35% eU3O8 from 85 to 89 feet (hole KM-23-119) and 7 feet of 0.062% eU3O8 from 87 to 94 feet (hole KM-15-138). Development work will also involve the installation of several monitor wells to support future groundwater characterization tests. These tests will include assessments of depth to water table, water quality, pump tests to determine transmissivity between wells, and the potential vertical isolation of the deposit from overlying and underlying clays and mudstones.

Mr. John DeJoia P.Geo. and Director, commented, "We are very pleased to start the 2024 exploration drilling program at Agate. Mr. Osier's investigation of the historic Kerr-McKee data base located where K-Mc drilling intercepted an area of roll front mineralization that exceeded the average mineralization grades of Shirley Basin. We will develop and expand the higher-grade part of the lower Wind River Formation at Agate."

The Company also announces the transition of Mr. Jeremy Wiebe from the Board of Directors to the Company's Advisory Board, effective immediately, due to new professional obligations.

Strathmore's CEO, Dev Randhawa commented, "We are grateful to Mr. Wiebe for his committed service and contribution to our Company and are pleased he will continue to share his experience on our Advisory Board."

About the Agate Property

The Agate property consists of 52 wholly owned lode mining claims covering 1,075 acres. The uranium mineralization is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 55 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first successful in-situ recovery operation in the USA during the 1960s. At the property, the uranium mineralization is shallow, from 15 to approximately 150 feet deep, much of which is below the water table and likely amenable to in-situ recovery.

Strathmore Plus Uranium Corp. Strathmore has three uranium projects with approved exploration plans in Wyoming, including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical and recent drill data. The Night Owl property is a former surface mine that was in production in the early 1960s.

Cautionary Statement: "Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release".

Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Strathmore Plus Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Qualified Person

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 Terrence Osier, P.Geo., Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person.

Strathmore Plus Uranium Corp.

Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com

ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212069

FAQ

When did Strathmore Plus Uranium start its 2024 drilling at Agate?

Strathmore Plus Uranium started its 2024 drilling program at the Agate Project on June 6, 2024.

What were the notable findings from Strathmore Plus Uranium in 2023?

Notable 2023 findings include hole AG-10-23 with 16 feet of 0.081% eU3O8 and hole AG-16-23 with 21 feet of 0.089% eU3O8.

How many additional drill holes has Strathmore Plus Uranium been approved for?

Strathmore has received approval for an additional 200 drill holes totaling 30,000 feet.

What is the reclamation bond for Strathmore Plus Uranium's Agate Project?

Strathmore Plus Uranium has posted a reclamation bond to ensure environmental compliance for the Agate Project.

What transition in leadership was announced by Strathmore Plus Uranium?

Jeremy Wiebe is transitioning from the Board of Directors to the Advisory Board due to new professional obligations.