STRATHMORE MINERALS CORP. ("Strathmore") is pleased to announce it has entered into a letter of intent with Yellowcake Mining Inc. ("Yellowcake") to finance the development of Strathmore's Sky project located in the Gas Hills Uranium District in Fremont County, Wyoming. Sky is Strathmore's first project in Wyoming to begin data collection activities for permitting purposes. The intent is to develop the Sky project as a satellite ISR operation. The property comprises 50 unpatented mining claims totaling 418 hectares (1,033 acres).

Yellowcake will provide up to US$7,500,000 in development expenditures over four years to earn a 60% interest in the project.

Mr. Dev Randhawa, Chairman and CEO of Strathmore commented, "We are pleased to work with Yellowcake on this project as it will enable us to more quickly advance a number of our uranium projects outside our core production areas."

In conjunction with the initiation of permit activities, the Company recently completed an independent National Instrument 43-101 technical report for the SKY property. The 43-101 report provides an Indicated mineral resource estimate totaling 948,098 lbs. U3O8 contained within 668,688 tons at an average grade of 0.07%. An additional 54,496 lbs U3O8 have been classified as an inferred mineral resource. See Strathmore's February 28, 2007 news release for additional information on the project. The 43-101 technical report for the SKY property can be viewed in its entirety on the SEDAR website www.sedar.com and the Company's website www.strathmoreminerals.com.

Bill Tafuri, Yellowcake Board Member, said "The Company views the Sky JV as a vehicle for achieving uranium production in the near-term. We are pleased to continue the expansion of our uranium projects and to build upon the excellent working relationship we have with Strathmore. We look forward to working closely on the development of the Sky project." Yellowcake (YCKM; OTC-BB) is a Nevada based company with a mandate to develop uranium projects.

STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties. Headquartered in Kelowna, British Columbia, the Company also has U.S. based Development Offices in Riverton, Wyoming and Santa Fe, New Mexico. STRATHMORE MINERALS CORP Common Shares are listed on the TSX Venture Exchange under the symbol "STM".

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

ON BEHALF OF THE BOARD

"David Miller"
David Miller, President and COO

Contact Investor Relations:
Bob Hemmerling/Craig Christy
1-800-647-3303
info@strathmoreminerals.com
www.strathmoreminerals.com

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