TSX
SYMBOL :
SUU.V
OTC
SYMBOL :
SUUFF
Strathmore
Signs Working Agreement with Ur-Energy
Kelowna, B.C. Canada --
April 4, 2023 -- InvestorsHub NewsWire -- Strathmore Plus Uranium
Corporation ("Strathmore"
or "the
Company") is pleased to
announce the execution of a Confidentiality and Non-Disclosure
Agreement (CNDA) with Ur-Energy to evaluate ways to advance the
Company's Agate, Beaver Rim, and Night Owl projects. The goal of
the agreement is to assess the feasibility of a negotiated business
transaction for future processing of uranium from Strathmore's
Wyoming projects at Ur-Energy's nearby
facilities.
These include Ur-Energy's
operating Lost Creek and permitted Shirley Basin projects, which
are fully licensed for in-situ recovery, mill processing, and
tailings disposal. Strathmore anticipates shorter lead times for
development and production of our projects by building upon
Ur-Energy's expertise in permitting and the future utilization of
their fully licensed facilities.
Dev Randhawa, CEO commented "We
would like to thank UR Energy's CEO, John Cash and his team for
completing the CNDA agreement and are very excited to be working
with John and his strong technical group".
About
Ur-Energy
Since 2006, Ur-Energy has successfully
permitted, constructed, and operated the Lost Creek in-situ
recovery project in Wyoming, where they have produced 2.7 million
pounds of U3O8.
Ur-Energy is currently ramping up recovery at
their Lost Creek operation. Strathmore's projects are within 100 miles of
Ur-Energy's Lost Creek processing facility.
In 2013, Ur-Energy acquired the Wyoming
assets of Pathfinder Mines (a wholly-owned
subsidiary of Areva, now
Orano) including their
Shirley Basin and Gas Hill projects. The former Pathfinder Shirley Basin mines
produced approximately 28 million pounds of U3O8.
The Ur-Energy Shirley Basin project is fully
permitted for in-situ recovery, either as a satellite operation to
Lost Creek, or a stand-alone processing operation, and also a fully
permitted tailings facility that accepts 11e (2) by-product
materials, one of a limited number of such facilities in the
USA.
Strathmore's Agate and Night Owl
properties are both less than 10 miles from Ur-Energy's Shirley
Basin project.
Ur-Energy's Gas Hills project is located 2.5
miles north of Strathmore's West Diamond claim group atop Beaver
Rim.
The former Pathfinder Gas Hill
mines produced 48 million pounds of U3O8.
Cameco's Peach project is located
between UR- Energy and Strathmore, where extensive drilling has
defined mineral resources as reported by Cameco.
About Strathmore Plus
Uranium Corp.
Strathmore has 3 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
mine that was in production in the early 1960s. Strathmore received an exploration permit for
the Beaver Rim project in October and is now applying for both
exploration and drilling permits for Agate and Night
Owl.
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
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