Strathmore and Korea’s KEPCO Enter Joint Venture Agreement to Develop Uranium

Strathmore Minerals Corporation, a Vancouver-based resource company, announced that it has signed a binding Heads of Agreement with Korea Electric Power Corporation (KEPCO) for a joint venture agreement to explore and develop uranium in the US state of Wyoming. KEPCO will make a US$8 million subscription placement in common shares of Strathmore and a US$2 million project development allowance for the Phase I exploration and development of Wyoming’s Gas Hills Beaver Rim Area. The funds will also be used to complete a pre-feasibility study for all the Gas Hills uranium properties. The subscription and definitive agreements are expected to be completed before the end of September 2011 with Strathmore and KEPCO forming a 60/40 limited liability company for the phased joint venture. KEPCO is a Korean government-invested diversified energy company.