Nu-Mex Uranium Amends Agreement With Strathmore for US $44.5

Million Commitment at Nose Rock, New Mexico Uranium Project 
ALBUQUERQUE, N.M., June 18 /PRNewswire-FirstCall/ -- Nu-Mex Uranium Corp.
("Nu-Mex" or "the Company") has amended its previously disclosed Letter Of
Intent ("LOI") with Strathmore Resources (US) Ltd. ("Strathmore"), to form a
joint venture (the "Joint Venture") in order to explore and develop
Strathmore's Nose Rock properties (the "Nose Rock" project). The revised LOI
terms now provide for increases in the scheduled expenditure commitments as
previously disclosed. In this regard, and for additional work commitments of
US $25.5 million, for a new total of US $44.5 million, and a reduction of US
$6 million in the previously scheduled payments to Strathmore, Strathmore has
now granted Nu-Mex an additional 5% in the Joint Venture. Nu-Mex can now earn-in a 65% interest in the Nose Rock project. In addition, Strathmore has
granted Nu-Mex a right of first refusal to negotiate a joint venture agreement
for Strathmore's Dalton Pass, New Mexico, uranium project. 
The Nose Rock project is located northeast of Crownpoint within the Grants
Mineral Belt in the State of New Mexico.  Strathmore acquired the project
through mineral leases or by claim staking and the Nose Rock project as a
whole consists of approximately 5,000 acres (2,023 Ha) of land. 
As per the amended terms of the LOI, Strathmore has granted Nu-Mex the
sole and exclusive right and option to earn-in a 65% interest in the Nose Rock
project. The material terms of the LOI are summarized as follows (all dollar
amounts are in US $): 
1.  Nu-Mex paying to Strathmore $250,000 and issuing 5,000,000 common
shares in the capital stock of Nu-Mex on closing of a definitive agreement to
be presented and respecting the LOI terms; and 
2.  Nu-Mex incurring a total of $44,500,000 in work commitment
expenditures on the Nose Rock project (collectively, the "Expenditures") in
accordance with the following schedule: 


    -- $1,000,000 work commitment Expenditures are to be incurred in each of
       the first and second years from closing;
    -- an additional $1,500,000 work commitment Expenditures are to be
       incurred in the third year from closing,
    -- an additional  $10,000,000 work commitment Expenditures are to be
       incurred in each of the  fourth, fifth and sixth years from closing,
       and
    -- an additional $11,000,000 work commitment Expenditures are to be
       incurred in the seventh year from closing.


Nu-Mex will earn a 25% interest in the Nose Rock project once it has
completed its work commitments (US $13,500,000) on or before the anniversary
of the fourth year from closing. Nu-Mex will earn an additional 40% interest
in the project once Nu-Mex has completed its additional work commitments (US
$31,000,000 in work) on or before the anniversary of the seventh year from
closing. The LOI provides for accelerated work and Expenditure commitments
should a future project evaluation demonstrate that a feasibility study could
be completed at an earlier date in respect of the project. 
After the fourth year from closing, and provided Nu-Mex has fulfilled its
commitments, the parties shall review all work completed under the terms of
the Joint Venture and prepare an independent NI 43-101 compliant technical
report and, if applicable, resource calculation.  Recommendations from this
report will help plan further development initiatives. 
Following the seventh anniversary from closing, or such other mutually
agreed upon time, and should it be deemed applicable, the project Operator
will retain a third party engineering firm to prepare a Bankable Feasibility
Study respecting the project.  Should the third party evaluation result in a
positive recommendation, Strathmore and Nu-Mex will then proceed with their
pro-rata payments under the Joint Venture to further develop the project. 
Strathmore will have up to 90 days after the date the Bankable Feasibility
Report is delivered to elect whether or not to earn back an 16% undivided
interest in the project by paying US $25,000,000 to Nu-Mex; provided Nu-Mex
has met all its obligations to earn 65% prior thereto. 
The parties will use their best efforts to obtain all regulatory and other
approvals and close within 90 days of the date of LOI or as soon as mutually
agreed upon thereafter. 
Strathmore 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 US based
Development Offices in Riverton, Wyoming and Santa Fe, New Mexico. 
Nu-Mex Uranium Corp. (OTC Bulletin Board: NUMX) is an international
uranium mining company with corporate offices in London, England, and
operational offices in New Mexico, US. Its foundational assets are located in
the southwest United States. The Company is focused on the development of in-ground uranium projects. 


    For further information see: www.nu-mexuranium.com
    Symbol: OTCBB - NUMX; Frankfurt AN$, WKN NO. A0MUN4
     Contact North America: Investor Relations
     Tel.: 866-676-0153
     Contact Europe: Investor Relations
     Tel.: +44-20-7665-1646
    SAFE HARBOR STATEMENT


THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT TERM IS
DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED.  STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL,
ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS,
PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE. 
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED
IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO
CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR
IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS,
INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH
WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR
STATEMENTS ARE FORWARD-LOOKING STATEMENTS.  RISKS AND UNCERTAINTIES FOR THE
COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH PROPERTY
DEVELOPMENT AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST
RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM 10-QSB AND FROM TIME-TO-TIME
IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY.  OTHER RISKS
INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE
COMPANIES, FUTURE CAPITAL REQUIREMENTS, THE COMPANY'S ABILITY AND LEVEL OF
SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES AND THE ENTERING INTO
AND CLOSING OF A DEFINITIVE OPTION AND JOINT VENTURE AGREEMENT TO ITS PRESENT
LOI WITH STRATHMORE IF AT ALL.  THERE CAN BE NO ASSURANCE THAT THE COMPANY'S
DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE
COMMERCIAL SUCCESS.  THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE
OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE
FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD
DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS.  ALTHOUGH THE
COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS
CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE
BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE.
INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD
ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS
FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE
COMMISSION. 
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES
FULL RESPONSIBILITY FOR ITS CONTENTS.  EACH OF THE NASD, THE SEC AND THE OTCBB
NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS RELEASE.  THIS
NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN
OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY
JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR
TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH
JURISDICTION. 

SOURCE  Nu-Mex Uranium Corp. 
CONTACT:
North America: Investor Relations, +1-866-676-0153, or Europe: Investor 
Relations, +44-20-7665-1646
-0- Jun/18/2007 13:15 GMT
 
 
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