Strathmore Plus Energy Corp. Aquires Uranium Properties in Wyoming
Kelowna, Jan. 19, 2022 - Strathmore Plus Energy Corp. (TSXV: SUU.H) (OTC Pink: SUUFF) ("Strathmore Plus" or "the Company") is pleased to announce the acquisition of uranium mining claims in the State of Wyoming by purchase of Wyoming Uranium LLC. The group of claims are located in the Gas Hills Uranium District, the #1 uranium mining area in Wyoming. Past production in the Gas Hills exceeded 100 million pounds of uranium. Historical and recent reports suggest 50-100 million pounds of uranium resources remain in the Gas Hills, with significant discovery potential in the less explored areas to the south, in the Beaver Rim area. Mr. John DeJoia, P.Geo, Company Technical Advisor, who has extensive experience in the Gas Hills, commented, "I am very excited about these acquisitions for the company, having explored and mined through much of the United States, Wyoming was the obvious choice. It is home to some of America's largest uranium discoveries. We wanted the property to be located in a political entity favourable to Uranium exploration, development, permitting and production that possessed the geologic regime and depositional environment suitable for the existence of typical "Wyoming roll front" systems. The land we found is directly adjacent to the Gas Hills and meets all of our requirements with room to explore. It also has roads and utilities in the area which is a big advantage for us."
New Property Update
Beaver Rim Exploration Project
The new Exploration Project consists of 131 lode mining claims totaling 2,706 acres in the Beaver Rim area, which lies immediately south of the main Gas Hills District. The claims were strategically located in areas previously delineated by drilling as highly prospective for uranium mineralization. The claim groups are adjacent to and south of Cameco's Gas Hills Uranium Project that is fully permitted for in-situ recovery. A portion of Cameco's property also extends atop Beaver Rim, where previous drilling delineated their Peach deposits.
Previous exploration on Beaver Rim, including as recently as 2012 by Strathmore Minerals Corp., discovered uranium mineralization on several of the claims acquired under this purchase agreement. The mineralization is contained within arkosic-rich sandstones of the Eocene-age Wind River Formation. On the Beaver Rim Exploration Project, previous exploration discovered multiple zones of uranium mineralization, contained in classic, Wyoming-type roll-front deposits, from depths of 700 to 1,000 feet. Strathmore Plus intends to permit the properties for exploratory drilling slated for summer 2022.
Purchase Agreement
Strathmore Plus has acquired Wyoming Uranium LLC, a Wyoming Corporation, which owns 131 lode mining claims in the State of Wyoming. The agreement includes payment of US$25,000 and the issuance of 750,000 shares of Strathmore Plus to the vendors.
Project Map and Area:
Project Map and Area
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About Strathmore Plus Energy Corp.
Strathmore Plus is a uranium exploration company, focused on in-situ recoverable uranium deposits in the State of Wyoming.
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
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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.