Strathmore Closes Private Placement; Staking & Work Program Update.

News Editors/Business Editors

KELOWNA, British Columbia--(BUSINESS WIRE)--April 22, 2004

Strathmore Minerals Corp. (TSX VENTURE:STM) ("Strathmore") private placement initially announced on March 22, 2004 has closed. The placement consisted of a total of 3,436,167 units at $0.60 per unit and raised gross proceeds of $2,061,700. The securities issued are subject to a hold period that expires on August 17, 2004. The warrants to purchase an additional share at $0.76 a share expire on April 16, 2006. The funds will be used for further mineral property acquisitions and development and for general working capital.

Canadian Update:

The Company is also pleased to announce that it has acquired, via staking, approximately 100,000 acres within the eastern part of the Athabasca Basin, near Waterbury Lake in north-central Saskatchewan. Strathmore's acquisition of lands within parts of the Athabasca Basin considered prospective for Uranium Mineralization is ongoing.

The Waterbury Lake Project is located adjacent to the Midwest Project operated by Cogema Resources Inc, and to the northeast of the Cigar Lake Project operated by Cameco Corp. The Midwest Project is reported to contain 13 Mt with 3.8 % U3O8, while the Cigar Lake Mine has reported reserves of more than 89 Mt with 15.44% U3O8.

Both private and publicly available information were used to select those lands which constitute the Waterbury Lake Project. Parts of the project area are favorably located along the same structural trend to the northeast of the Midwest Project; and presumably cover the strike extension of the same sequence of Paleoproterozoic gneisses that underlay the sub-Athabasca Group unconformity, which are host to the Uranium Mineralization at the Midwest Project. The Cigar Lake Project, which is located on the southwest side of Waterbury Lake is underlain by a well-defined basement ridge interpreted as a mylonite zone composed of pelitic gneisses. Strathmore's Waterbury Lake Project is located a short distance to the northeast, occupying a similar position along the western margin of the underlying Wollaston Basement.

The Athabasca basin, located in Northern Saskatchewan and adjacent parts of Alberta, comprises about 100,000 square kilometres. It hosts the largest and highest grade uranium deposits in the world and currently accounts for more than 30 per cent of the world's annual production of uranium.

Peru Update:

The Company has also mobilized a ground crew on its Macusani property in Peru to initiate a mapping and sampling program of known uranium showings. The International Atomic Energy Agency lists a potential uranium resource for the Macusani District as between 50 million and 120 million pounds U3O8. Strathmore's property covers 42 square kilometers in the central area of the Macusani District, which is approximately 250 square kilometers in size. The property contains significant outcrops of the uranium mineral autunite in small fractures in many areas. Autunite contains 51% uranium by weight and converts into 60% - 65% U3O8.

STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition and development of uranium properties. STRATHMORE MINERALS CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "STM".

ON BEHALF OF THE BOARD

Dev Randhawa, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.