Strathmore More Than Doubles the Mineralized Zone at Agate

Kelowna, British Columbia--(Newsfile Corp. - October 30, 2023) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) ("Strathmore" or "The Company") is pleased to announce that they continue to hit mineralization throughout the property and have more than doubled the size of the mineralized area since the start of the program.

The results of an additional 22 holes drilled at the Agate project in the Shirley Basin Uranium District of Wyoming, including holes drilled outward from the highest-grade drill hole to date, AG-16-23 (21 ft of 0.089% @ 79-100 ft) are in the table below.

Drilling has extended the known mineralization in all directions of AG-16-23 and discovery hole AG-10-23 (16 ft of 0.081% eU₃O₈ @ 82-98 ft). Two new drill holes, AG-47-23 (13 ft of 0.082% eU₃O₈ @ 81-94 ft), and AG-48-23 (13 ft of 0.054% eU₃O₈ @ 84.5-97.5 ft), were drilled 100 ft west and north of the discovery hole, respectively.

The company is currently targeting prospective lands to the west and east along the projected roll front, with the intent to lengthen the lateral extent of the uranium mineralization into areas with little previous exploration.

Mr. John DeJoia P.Geo. and Director, commented, "The drilling results to date support what our expectations were of the Agate project. The mineralization is shallow, with the thickness, quality grades, and requisite permeability, porosity, and transmissivity parameters necessary for in-situ recovery of uranium, all of which the Shirley Basin district is notable for in the mining industry."

Phase 1 of exploratory drilling at the Agate project is targeting the Lower "A" sand of the Eocene Wind River Formation, an arkosic-rich sandstone which is noted for its high porosity, permeability, and transmissivity. Strathmore is exploring an area of the Agate project where historical drilling completed by Kerr McGee Corporation in the 1970s encountered uranium roll-front deposits, saturated with groundwater, from 80-150 ft deep. The intercept results for the 22 new holes are reported at a minimum thickness of 2-ft and a grade cutoff of 0.02% eU₃O₈ (equivalent uranium); however, those holes with below cutoff intercepts are included and italicized in the table below.

Note: The geophysical results are based on equivalent uranium (eU₃O₈) of the gamma-ray probes calibrated at the Department of Energy's Test Facility in Casper, Wyoming. A geophysical tool with gamma-ray, spontaneous potential, resistivity, and drift detectors was utilized. The reader is cautioned that the reported uranium grades may not reflect actual concentrations due to the potential for disequilibrium between uranium and its gamma emitting daughter products.

• Mineralized holes with thicker, higher-grade intercepts are interpreted to be in the Near Interface, Nose (main front), or Near Seepage ground located within the projected roll front system.

• Mineralized holes with thinner, below cutoff grade intercepts are interpreted to be in the Limb/Tails or Remote Seepage ground located behind (altered) or ahead (reduced) of the projected roll front system, respectively.

• Non-mineralized holes are interpreted to be in the Barren Exterior ground located ahead of the projected roll front system in reduced ground.

About the Agate PropertyThe Agate property consists of 52 wholly owned lode mining claims covering 1,075 acres. The uranium mineralization is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 51 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first commercial in-situ recovery operation in the USA during the 1960s. At the property, the uranium mineralization is shallow, from 15 to approximately 150 ft deep, much of which is below the water table and likely amenable to in-situ recovery. Kerr McGee Corporation, the largest US uranium mining company at the time, drilled at least 650 holes across the project area, delineating several targets of potential mineralization the Company intends to explore during the Phase 1 project.

Strathmore is permitted to drill 100 holes for 15,000 feet in Phase 1 at Agate. The drilling is being completed by Single Water Services and the geophysical probing by Hawkins CBM Logging, both of Wyoming with extensive experience working in the uranium industry.

Night Owl Project UpdateStrathmore is also pleased to provide an update on the recent exploratory drilling at the Night Owl project. 30 holes were completed, with shallow uranium mineralization encountered at the old Night Owl mine site. Although surface uranium was identified, there was no abundant mineralization in the down hole drilling. The phase 1 program has provided knowledge of the depth, thickness, and extent of the Madison Limestone host rock and acquired surface mineral samples that will be used for radiometric equilibrium analyses and amenability research. This year's investigation also determined the presence and depth of the groundwater and identified an area of significant alteration/oxidation that may prove to be where the mineralizing solutions moved. Strathmore will continue with more geoscience work with the assistance of Ray Ashley and Sam Hartmann, our technical advisors, to determine exactly where the fluids ended up and where there may be significant mineralization for future exploration targets in 2024.

A 7- to 10-foot-thick zone of breccia consists of voids filled with silicious materials containing complex uranium minerals, including uranyl phosphates at the old mine site. Strathmore previously collected samples from the outcrop at the mine site, with twelve assay results ranging from 0.229 to 0.384% U₃O₈, confirming and exceeding the historically reported mined average. Additional recently collected outcrop and drilled samples will be submitted to the lab for determination of the uranium concentrations and other potential minerals of interest.

About Strathmore Plus Uranium Corp.Strathmore has three permitted uranium projects in Wyoming, including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.

Cautionary Statement: "Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release".

Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Strathmore Plus Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Qualified PersonThe 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 on behalf of the company by Terrence Osier, P.Geo., Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person.

Strathmore Plus Uranium Corp.Contact Information:Investor RelationsTelephone: 1 888 882 8177Email: [email protected]

ON BEHALF OF THE BOARD"Dev Randhawa"Dev Randhawa, CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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