The Dalton Pass property consists of 640 acres controlled by federal lode mining claims and lies between the Church Rock and Crownpoint uranium districts of the western Grants Mineral Belt.

The previous operator, Pathfinder Mining Company, drilled in excess of 130 exploratory holes and demonstrated a resource of 5.5 million pounds U3O8 at an average grade of 0.07%. Pathfinder was determining the feasibility and amenability of in-situ extraction of the uranium resource prior to the 1980s price drop in uranium.

As announced in the the company's News Release dated Oct. 22, 2007, Strathmore has completed a formal option and joint venture agreement with Nu-Mex Uranium Resources Inc.("Nu-Mex") to explore and develop Strathmore's Dalton Pass properties (the "Dalton Pass" project).

Under the terms of the final agreement, Strathmore has granted Nu-Mex sole and exclusive rights to earn-in a 65% interest in the Dalton Pass project. The terms of the transaction are summarized as follows (all dollar amounts are in US $):

1. Nu-Mex paying to Strathmore $250,000, which the Company acknowledges as having received; and

2. Incurring a total of $16,750,000 in work commitment expenditures on the Property ("Expenditures"), and additional payments of $1,000,000 in cash over six years. (see news release dated July 11, 2007 for a detailed schedule of the terms and work expenditure commitments of this agreement)

Strathmore retains the right to earn back a 16% undivided interest in the project for a period of 90 days after the completion of a Bankable Feasibility Report, by paying US $8,000,000 to Nu-Mex and providing Nu-Mex has met all its obligations to earn its 65% interest.