Strathmore Expands Agate Project - Boosting Resource Prospects

Rhea-AI Summary

Strathmore Plus Uranium (SUUFF) has expanded its Agate Project by adding 15 lode mining claims, bringing the total to 100 claims covering ~2,067 acres. Located in the Shirley Basin Uranium District, the project has shown promising results with 90% of 200 exploration holes hitting mineralization. Notable discoveries include a new zone of shallow mineralization with intersections of 14 feet of 0.046% eU₃O₈ and 15.5 feet of 0.051% eU₃O₈. The company's 2025 exploration plan includes up to 100 permitted drill sites and five core holes for groundwater studies. The University of Wyoming is conducting geophysical research at the site, supported by $320,000 in grants, to detect and image uranium roll fronts.

Positive

• 90% success rate in exploration with 200 holes drilled hitting mineralization
• Expansion of project area by 15 claims to total 100 claims (~2,067 acres)
• Discovery of new shallow mineralization zone with significant uranium content
• Strategic location in prolific Shirley Basin Uranium District (53M pounds historical production)
• University of Wyoming research partnership with $320,000 in funding

Negative

• None.

Kelowna, British Columbia--(Newsfile Corp. - May 27, 2025) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce the expansion of the Agate Project by staking an additional 15 lode mining claims, increasing the project to 100 claims for ~2,067 acres. The newly claimed area has noted historical drilling completed by Kerr McGee in the 1970s that encountered shallow uranium mineralization at less than 200 feet deep. Strathmore will continue to expand the area of mineralization after last years successful drilling program. Agate is in the Shirley Basin Uranium District, one of the most prolific uranium districts in the U.S. where 53 million pounds of uranium has been mined by open pit, underground and in-situ recovery. UR Energy's Shirley Basin project is located 6 miles to the northeast of Agate, where they are actively building an in-situ operation as a satellite to their Lost Creek mine 100 miles west in central Wyoming.

In 2024, Strathmore identified a new zone of shallow mineralization located one mile south of the northern trend, within the overlying middle sand unit. Notable drill results include hole AG-143-24, which intersected 14 feet of 0.046% eU₃O₈ (from 30.5 to 44.5 feet), and hole AG-147-24, with 15.5 feet of 0.051% eU₃O₈ (from 29 to 44.5 feet). This newly discovered trend remains open to both the north and south and is scheduled for further exploration in the 2025 season and is expected to significantly expand the resource.

Strathmore has completed 200 exploration holes (including 5 monitor wells) on the Agate project, with over 90% of the holes hitting mineralization. The 2023-24 exploration defined approximately 3,700 feet of a mineralized trend in the lower sand unit, with notable intercepts in two holes, AG-10-23 (16.0 feet @ 0.081% eU₃O₈ from 82.0-98.0 feet) and AG-16-23 (21.0 feet @ 0.089% eU₃O₈ from 79.0-100.0 feet). This northern trend is open to the west and east, where further exploration in 2025 intends to expand into these untested areas.

Strathmore Director John DeJoia commented "I have personally mined and been responsible for mining approximately 20 million pounds of uranium in Shirley Basin (now UR Energy's property). I mined by open pit, underground methods, and the first commercial ISR operation in the U.S. With 9 out of every 10 exploration drill holes we completed intercepting mineralization at Agate, I have re-evaluated my conventional thinking regarding economics. Conventional wisdom has always professed that "Grade is King" however, the uranium mineralization at Agate is thick and therefore yields substantial grade-thickness (GT) products, and it is at a shallow depth of a little over a hundred feet! Grade is important but the economics at Agate are outstanding. I'm excited to be starting our 2025 drilling program and continuing to grow this project for a future ISR mine".

2025 Exploration Plan

Strathmore is pleased to announce the 2025 Exploration Plan for the Agate Project, to expand the area of mineralization after last years very successful drilling program. Currently up to 100 drill sites are permitted, with the intent to explore with two drill programs. This summer five core holes are planned to compliment groundwater studies from closely located monitor wells previously installed in 2024. The core will be used for chemical equilibrium studies by the Company and the University of Wyoming for their ongoing geophysical research at the project. Planned exploration drilling intends to link together discrete deposits encountered in the lower sand in 2023-24 and expand upon the 2024 discovery of mineralization in the shallow middle sand. The intent of the exploration is to expand the mineralization on the property into a multi-zone deposit, with the potential of stacked roll fronts, and to gather the necessary information to complete a mineral resource estimate and technical report on the project during winter 2025.

University of Wyoming Research Project

Strathmore is also pleased to report on the University of Wyoming's (UW) ongoing geophysical study at the Agate project. The research by Dr. Bradley Carr, Director of UW's Near-surface Geophysical Center, consists of ground and borehole geophysics applied across the project to detect and image a uranium roll front and possibly monitor the movement of the roll front's position during future in-situ mining development. In this research, the borehole and surface geophysical methods utilized include Seismic Reflection, Seismic Refraction, Direct Current Resistivity, Induced Polarization, Electromagnetics, Self-Potential, and Nuclear Magnetic Resonance.

Strathmore looks forward to working with Dr. Carr to provide potential targets for the 2025 exploration season, including the new 1- mile step out discovery, based on their current geophysical studies and those completed in 2023-24. In early 2023, Dr. Carr received a grant from the University's School of Energy Resources for US$200,000 to complete the research. Recently Dr. Carr was awarded additional funding for US$120,000 which in part will be used to advance the geophysical research at Agate, and for a study of deeper uranium mineralization at the Company's Beaver Rim project during summer 2025. Lastly, Strathmore has donated US$20,000 to the University to help finalize the purchase of XRF analysis capabilities on core samples for the Department of Geology and Geophysics' GeoTEK analysis equipment.

About the Agate Property

The Agate property consists of 85 wholly owned lode mining claims covering 1,756 acres. Uranium mineralization on the project is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 53 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first commercial in-situ recovery operation in the USA during the 1960s. At the property, the uranium mineralization is shallow, from 20 to approximately 150 feet deep, much of which appears below the water table and likely amenable to in-situ recovery. Kerr McGee Corporation, the largest US uranium mining company at the time, drilled at least 650 holes across the project area in the 1970s, delineating several targets of potential mineralization. In 2023 and 2024, the Company completed 200 exploration holes on the Project, discovering several areas of potential mineralization.

About Strathmore Plus Uranium

Strathmore is focused on discovering uranium deposits in Wyoming, and has three permitted uranium projects 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 drilling data. The Night Owl property is a former producing 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 as 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253454

FAQ

What are the recent expansion details of Strathmore's SUUFF Agate Project?

Strathmore added 15 lode mining claims to the Agate Project, bringing the total to 100 claims covering approximately 2,067 acres in the Shirley Basin Uranium District.

What are the key drilling results from SUUFF's Agate Project in 2024?

Notable results include hole AG-143-24 with 14 feet of 0.046% eU₃O₈ and hole AG-147-24 with 15.5 feet of 0.051% eU₃O₈, both at shallow depths of around 30-45 feet.

What is Strathmore's (SUUFF) exploration plan for 2025 at the Agate Project?

The 2025 plan includes up to 100 permitted drill sites with two drill programs, five core holes for groundwater studies, and aims to link discrete deposits and expand mineralization into a multi-zone deposit.

How is the University of Wyoming involved in Strathmore's Agate Project?

The University is conducting geophysical research at Agate with $320,000 in funding, using various methods to detect and image uranium roll fronts, and potentially monitor their movement during future in-situ mining.