Strathmore Finalizes Agate Permit for 200 Hole Drilling Program

Rhea-AI Summary

Strathmore Plus Uranium (SUUFF) plans a 200-hole drill program in 2024 for Agate after successful uranium mineralization discovery in 2023. The company aims to extend the discovered roll front into untested ground and collaborate with UR-Energy for operational efficiencies.

Kelowna, British Columbia--(Newsfile Corp. - April 10, 2024) - Strathmore Plus Uranium Corporation (TSX: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce we are planning a 200-hole drill program in 2024 for Agate totaling 30,000 feet. The active drill permit has been amended and sent to state and federal regulators with exploration planned to begin in spring upon approval of proposed permit amendments.

Mr. Terrence Osier, VP Exploration of Strathmore said "During our Phase 1 drill program in 2023, we successfully discovered uranium roll front mineralization saturated with groundwater at shallow depths, from 80 to 150 feet deep, confirming the available historical data. The 2024 drill targets are planned this year to extend the discovered roll front into untested ground, in addition to other targets across the Project. One of these targets lies a mile south of the area we drilled in 2023, including historic intercepts of 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). Strathmore intends to subcontract with the same drilling contractor and geophysical logger as was used in 2023- Single Water Services, Hawkins CBM Logging."

Strathmore is very encouraged by UR-Energy's announcement last month to begin construction of a satellite in-situ operation at their nearby Shirley Basin Project, located 6 miles from Agate. We look forward to advancing our working agreement with UR-Energy which should result in shorter lead times and lower costs for developing and operating an in-situ operation at Agate. In addition to exploring Agate, we plan to drill this summer at our Beaver Rim Project in the Gas Hills Uranium District.

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.

The Project was previously explored by Kerr-McGee Corporation in the 1970s, which was the largest producer of uranium in the United States, including from their Shirley Basin deposits. Other uranium companies in the basin include Cameco, enCore Energy, UR Energy, and UEC, whose claims border the Agate property. Available Kerr-McGee historical drill results from the Wyoming Geological Survey include drill hole location maps and 330 geophysical logs which have been digitized and reinterpreted for entry into a modern, verifiable database. In 2023, Strathmore completed 100 drill holes on the Project, confirming the historical drill results. The exploratory drilling targeted the Lower "A" sand of the Eocene Wind River Formation, an arkosic-rich sandstone which is noted for its high porosity, permeability, and groundwater transmissivity.

About Strathmore Plus Uranium Corp.
Strathmore has three permitted uranium projects 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 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 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/204882

FAQ

What is Strathmore Plus Uranium 's (SUUFF) plan for 2024?

Strathmore plans a 200-hole drill program totaling 30,000 feet for Agate to extend the discovered uranium roll front into untested ground.

What was discovered during Strathmore's Phase 1 drill program in 2023?

During the Phase 1 drill program in 2023, Strathmore discovered uranium roll front mineralization saturated with groundwater at shallow depths.

Who is the VP Exploration of Strathmore Plus Uranium ?

Mr. Terrence Osier is the VP Exploration of Strathmore Plus Uranium

What historic intercepts were mentioned in the press release?

Historic intercepts of 4 feet of 0.35% eU3O8 and 7 feet of 0.062% eU3O8 were mentioned in the press release.

What collaboration does Strathmore intend to have with UR-Energy?

Strathmore looks forward to advancing their working agreement with UR-Energy to result in shorter lead times and lower costs for developing and operating an in-situ operation at Agate.