Strathmore Minerals Corp. - Nose Rock

Stage: Exploration and Development Pipeline

Strathmore's Nose Rock Property is located northeast of Crownpoint, within the Grants Uranium District in New Mexico. The Company acquired through minerals leases, or by claim staking, an additional 7 sections contiguous or near the primary Section 36 lease, increasing the size of the property holdings to approximately 5,000 acres.

The Nose Rock properties were extensively explored and developed by the Phillips Uranium Corporation in the 1970s and 1980s. Strathmore's Section 36 comprises part of the area known as Mine Unit #1. The adjoining ground, which includes two shafts constructed by Phillips, is held by Uranium Resources Inc. By July 1981, Phillips had spent US $140 million on the entire Nose Rock project (Source: New Mexico's Energy Resources 1981- Annual Report, p. 18). The project was placed on standby in 1981 and was subsequently abandoned due to declining market demand and uranium prices.

In 2009, Strathmore completed a NI 43-101 compliant resource estimate for part of the Nose Rock Property.

Location	Previous Operator/Source (Date of Resource Estimate)	Resource Classification	Tonnage	Grade % U 3O 8	lbs/U 30 8
Nose Rock (Sec. 1), NM	Phillips Uranium (1979) HM. Alief, 43-101 (2009)	NI 43-101 Measured NI 43-101 Indicated NI 43-101 Measured + Indicated NI 43-101 Inferred	310,0000 575,000 884,000 167,000	0.15 0.15 0.15 0.14	906,000 1,688,000 2,594,000 452,000
Nose Rock (Sec. 36), NM	Phillips Uranium (1979)	Historical*	4,384,000	0.16	14,303,000

*The historical resource estimates presented in the above table for Section 36 of the Nose Rock, New Mexico Property, were completed prior to the implementation of the NI 43- 101 requirements. Given the quality of the historic work completed by Phillips Uranium in 1979 on Section 36 of the Nose Rock Property, New Mexico, 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 resource, and the Company is not treating the historic resources as current. Hence, they should not be relied upon. It should be noted that mineral resources which are not mineral reserves do not have demonstrated economic viability. The NI 43-101 resource estimates were taken from the NI 43-101 report entitled "Technical Report on Section 1, T18N, R12W, Nose Rock Uranium Property, McKinley County, New Mexico", dated February 9, 2009, and prepared by M Hassan Alief, C.P.G., AIPG 11134, a qualified and independent person under National Instrument Policy 43-101. It should be noted that mineral resources which are not mineral reserves do not have demonstrated economic viability as defined by the NI 43-101 guidelines. The technical information in the previous table has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by David Miller, Chief Executive Officer for Strathmore Minerals Corp., PG 363 Wyoming and Society for Mining, Metallurgy & Exploration Registered Member 2205106RM, a Qualified Person under National Instrument 43-101.