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

Strathmore Completes Agreement With Nu-Mex Uranium for US$44.5
Million Commitment at Nose Rock, New Mexico Uranium Project 
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 09/21/07 -- 
Strathmore Minerals Corp. (TSX VENTURE: STM) is pleased to announce
that its subsidiary, Strathmore Resources (US) Ltd. ("Strathmore" or
"the Company"), has completed a formal option and joint venture
agreement with Nu-Mex Uranium Resources Inc. ("Nu-Mex") to explore
and develop Strathmore's Nose Rock properties (the "Nose Rock
Project") - see news release dated June 18, 2007. 
The Nose Rock Project is located northeast of Crownpoint within the
Grants Mineral Belt in the State of New Mexico. The Company acquired
the property through mineral leases or by claim staking and the Nose
Rock Project as a whole consists of approximately 5,000 acres (2,023
Ha) of land. According to the previous operator Phillips Uranium, a
division of Phillips 66 Oil Company in the 1970's, part of the
original mine site now under Strathmore's control, contains a
demonstrated resource of 6,694,217 tons ore grading 0.135% U3O8. This
historical resource totals 18,230,955 lbs U3O8 (not 43-101
compliant). The discovery of the Nose Rock ore body by Phillips
Uranium was announced in December, 1975 (p. 20, New Mexico Bureau of
Mines and Minerals, Memoir 38, 1979). 
The completed agreement provides that Strathmore will grant Nu-Mex
sole and exclusive right to earn-in up to a 65% interest in the Nose
Rock Project on the following terms (all dollar amounts are in US$): 
1. Nu-Mex will pay to Strathmore $250,000 on closing and issue to the
limited liability company to be formed to consummate this joint
venture between the parties 5,000,000 common shares in the capital
stock of Nu-Mex; and 
2. Nu-Mex will incur a total of $44,500,000 in work commitment
expenditures on the Nose Rock Project in accordance with the
following schedule: 
- $1,000,000 in work commitment expenditures in each of the first and
second years, 
- an additional $1,500,000 in work commitment expenditures in the
third year, 
- an additional $10,000,000 in work commitment expenditures in each
of the fourth, fifth and sixth years, and 
- an additional $11,000,000 in work commitment expenditures in the
seventh year. 
Nu-Mex will earn a 25% interest in the Nose Rock Project once Nu-Mex
has completed the work commitments (US $13,500,000) required on or
before the anniversary of the fourth year. Nu-Mex will earn an
additional 40% interest in the Nose Rock Project once Nu-Mex has
completed the additional work commitments (US $31,000,000) required
on or before the anniversary of the seventh year. Strathmore has the
right to pay US $25,000,000 to earn back a 16% interest in the Nose
Rock Property if it so chooses. 
The agreement contemplates that after the fourth year, and provided
Nu-Mex has fulfilled its commitments, the parties shall review all
work completed and prepare an independent NI 43-101 compliant
technical report and resource calculation. Recommendations from this
report will help plan further development initiatives. 
The foregoing historical resource estimates were completed prior to
the implementation of NI 43-101. Given the quality of the historic
work completed on the properties discussed herein, the Company
believes the resource estimates to be both relevant and reliable.
However, a qualified person has not completed sufficient work to
classify the historic mineral resources as current mineral resources,
and is not treating the historic resources as current. Hence, they
should not be relied upon. 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 by
David Miller, President and Chief Operating Officer for Strathmore
Minerals Corp., a qualified person under National Instrument 43-101. 
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.'s common shares are listed on the TSX Venture Exchange under
the symbol "STM". 
This news 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 Strathmore's
exploration and development plans, outlook and business strategy. 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
or the right to earn back a 16% interest; 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, the Nose Rock Project; 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. Strathmore Minerals Corp. disclaims
any intention or obligation to update or revise forward-looking
information, whether as a result of new information, future events or
otherwise. 
ON BEHALF OF THE BOARD 
David Miller, President and COO 
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release. 
Contacts:
Strathmore Minerals Corp.
Bob Hemmerling
Investor Relations
1-800-647-3303 
Strathmore Minerals Corp.
Craig Christy
Investor Relations
1-800-647-3303
Email: info@strathmoreminerals.com
Website: www.strathmoreminerals.com