Million Commitment at Nose Rock, New Mexico Uranium Project
ALBUQUERQUE, N.M., Sept. 21 /PRNewswire-FirstCall/ -- Effective on
September 14, 2007 Nu-Mex Uranium Corp. ("Nu-Mex" or "the Company") has
completed its formal option and joint venture agreement (the "Agreement") with
Strathmore Resources (US) Ltd. ("Strathmore") to form a joint venture in order
to explore and develop Strathmore's Nose Rock properties (the "Nose Rock"
The Nose Rock project is located northeast of Crownpoint within the Grants
Mineral Belt in the State of New Mexico. Strathmore acquired the property
through mineral leases or by claim staking and the Nose Rock property as a
whole consists of approximately 5,000 acres (2,023 Ha) of land.
The completed Agreement calls for the scheduled expenditure commitments as
outlined in earlier news releases. (See news release June 18, 2007). 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 scheduled payments to Strathmore,
Strathmore has granted Nu-Mex a right to acquire an additional 5% in the Joint
Venture. Nu-Mex can now earn-in up to a 65% interest in the Nose Rock project
by, among other matters: (i) paying $250,000 to Strathmore; (ii) by issuing
5,000,000 common shares of Nu-Mex to a limited liability company to be formed
to consummate the joint venture; and (iii) by incurring a total of US $44.5 in
work commitment expenditures during the next seven years. 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.
A complete summary and copy of the completed Agreement forms part of the
Company's most recent and Current Report filing on Form 8-K.
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
Nu-Mex Uranium Corp. is an international uranium mining company with
corporate offices in London, England, and operational offices in New Mexico,
USA. Its foundational assets are located in the southwest United States. The
Company is focused on the development of in-ground uranium resources that can
be brought to near-term production.
For further information see: http://www.nu-mexuranium.com
Symbol: OTCBB - NUMX; Frankfurt AN4, WKN NO. A0MUN4
Contact North America: Investor Relations
Contact Europe: Investor Relations
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 AND THE COMPANY'S ABILITY AND LEVEL OF
SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. 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
SOURCE Nu-Mex Uranium Corp.
North America, Investor Relations, 1-866-676-0153, or Europe, Investor
Relations, +44-20-7665-1646, both of Nu-Mex Uranium Corp.
-0- Sep/21/2007 13:15 GMT
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