KELOWNA, BRITISH COLUMBIA -- (Marketwire) -- 03/18/13 -- STRATHMORE MINERALS CORP. ("Strathmore" or the "Company") (TSX: STM)(OTCQX: STHJF) announces that the US Forest Service ("USFS") has published the Draft Environmental Impact Statement ("DEIS") for the Company's Roca Honda uranium project in New Mexico. The Roca Honda project is 60% funded by Strathmore and 40% funded by Sumitomo Corporation of Japan under the terms of the Roca Honda Resources LLC ("RHR") Joint Venture.
The issuance of the DEIS represents the culmination of over three years of work by the USFS in association with Mangi Environmental Group, the third party independent consultant contracted to assist with the preparation of the DEIS. A number of State of New Mexico agencies, including the New Mexico Energy, Minerals & Natural Resources Department, Mining and Minerals Division ("MMD"), also provided significant input to its preparation.
Notice of availability of the DEIS was published in the Federal Register, the Daily Journal of the United States Government, on March 15, 2013, and the document has been posted on the USFS and MMD websites. The publication of the DEIS officially starts the 60 day public comment period. Two "open-house" public meetings, to be held in Grants and Gallup, New Mexico, have been tentatively scheduled in mid-April, to provide an opportunity for the public to discuss the project, and submit oral and written comments. This process will ultimately lead to the completion of the Final Environmental Impact Statement and the Roca Honda mine permit Record of Decision expected later this year.
A copy of the DEIS has been posted the Strathmore's website: www.strathmoreminerals.com.
Roca Honda Project Summary
The Roca Honda Property is situated on public lands managed by the US Forest Service and the State of New Mexico, in the Grants Uranium District, New Mexico. This project is 60% funded by Strathmore and 40% funded by Sumitomo Corporation of Japan under the terms of the RHR LLC Joint Venture.
In October 2009, the RHR LLC Joint Venture submitted a mine permit application for the proposed underground development of the Roca Honda Property. In November 2009, the mine permit application was deemed "administratively complete", by federal and state regulatory agencies, thereby initiating the technical review process. In February 2010, Mangi Environmental Group was chosen as the independent consultant contracted to assist the USFS with the preparation of the EIS. In August 2012, Roscoe Postle Associates Inc. ("RPA") completed an updated NI 43-101 compliant mineral resource estimate and Preliminary Economic Assessment ("PEA") for the uranium resources outlined to date at Roca Honda. The updated NI 43-101 resource estimate prepared by RPA confirms Roca Honda as one of the highest grade uranium deposits in the United States. In March 2013, the USFS published the DEIS for public comment.
Summary of Roca Honda Mineral Resources:
Measured and Indicated Resources: Grade %Classification Tons U3O8 Lb U3O8----------------------------------------------------------------------------Measured 284,000 0.395 2,247,000Indicated 1,793,000 0.405 14,536,000----------------------------------------------------------------------------Total M+I 2,077,000 0.404 16,783,000Inferred Resource: Grade %Classification Tons U3O8 Lb U3O8----------------------------------------------------------------------------Inferred 1,448,000 0.411 11,894,000
Notes: CIM definitions were followed for Mineral Resources; Mineral Resources are estimated using a cut-off grade of 0.13% U3O8; a minimum mining thickness of six feet was used; numbers may not add due to rounding.
The modeling and estimation of the uranium resources were prepared under the supervision of Patti Nakai-Lajoie, P.Geo., & Principal Geologist with RPA at that time. Ms. Nakai-Lajoie is a Professional Geoscientist in the Province of Ontario and an independent and Qualified Person as defined in NI 43-101. Ms. Nakai-Lajoie visited the Roca Honda Property on May 10-12, 2011 and is of the opinion that the data verification procedures support the geologic interpretations and confirm the quality of the database. It should be noted that mineral resources, which are not mineral reserves, do not have demonstrated economic viability.
Further information is available by referencing the Roca Honda NI 43-101 technical report entitled, "Technical Report on the Roca Honda Project, McKinley County, New Mexico, USA", prepared for Roca Honda Resources, LLC, by Roscoe Postle Associates Inc., and dated August 6th, 2012. Report for NI 43-101 Including Updated Minerals Resource Estimate and Preliminary Economic Assessment.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed by David Miller, CEO for Strathmore Minerals Corp., a qualified person under NI 43-101.
STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of mineral properties in the United States. Headquartered in Vancouver, British Columbia with a branch administrative office in Kelowna, 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 under the symbol "STM" and trade on the OTCQX International electronic trading system in the United States under the symbol "STHJF".
This press release contains "forward-looking information" that is based on Strathmore Minerals Corp.'s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to the permitting and development plans and draft EIS for the Company's Roca Honda Property. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Strathmore's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the historical resource estimates, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes in input prices; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining, or advancing projects; and labour relations matters.
This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Such forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
ON BEHALF OF THE BOARD:
David Miller, CEO
Strathmore Minerals Corp.