Strathmore Plus Acquires ISR Project in Shirley Basin Uranium District, Wyoming

Kelowna, British Columbia--(Newsfile Corp. - July 19, 2022) - Strathmore Plus Energy Corporation (OTC: SUUFF) (TSXV: SUU.H) ("Strathmore Plus" or "the Company") is pleased to announce that is has acquired the Agate claims, an in-situ recovery (ISR) project in the Shirley Basin uranium district of Wyoming. The 52 lode mining claims were staked in an area previously explored by Kerr-McGee Corporation during the 1970s. Kerr-McGee was the largest uranium company in the US at the time. Uranium mineralization is contained in Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 60 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first successful in-situ recovery operation in the US during the 1960s.

Technical Advisor, Mr. DeJoia, stated, "During my 10 years working in Shirley Basin, I was aware of the extensive exploratory drilling that Kerr-McGee was completing across the central and southern Shirley Basin areas. On occasion I would visit the drill sites, where I had a chance to see the shallow depth of the drilling and notable changes in the color of the cuttings distinguishing altered from unaltered ground, indicative of roll front mineralization in Shirley Basin. The area is readily accessible from the state highway with utilities crossing near the claim group also. Shirley Basin has excellent transmissivity and permeability, ideal for in-situ recovery. We look forward to exploratory drilling in the near future to verify the historical drilling results and to expand the area of mineralization into untested ground."

The Agate property consists of 52 mining claims covering 1,075 acres. Kerr-McGee drilled at least 500 holes in the area covered by the claim group. Strathmore will acquire data for 100's of geophysical gamma logs and associated drill hole location maps for the property area that are available from the Wyoming Geological Survey. The uranium mineralization is shallow, from 15 to approximately 150 feet deep. Much of the mineralization is below the water table and is amenable to in-situ recovery. The average thickness varies from several feet to tens of feet, with grades ranging from 0.02% to 0.18% eU3O8 as noted on the historical gamma logs.

About Strathmore Plus Energy Corp.

Strathmore Plus is a uranium exploration company, focused on in-situ recoverable uranium deposits in the State of Wyoming.

Cautionary Statement: 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 Energy 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 Energy 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 Energy Corp., a Qualified Person.

Strathmore Plus Energy 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/131176

info