Mr. Dev Randhawa reports

STRATHMORE HITS MINERALIZATION WITH STACKED ROLL FRONTS AT BEAVER RIM

Strathmore Plus Uranium Corp. has drilled two newly identified uranium roll fronts on the Beaver Rim project. Four drill holes were completed, including the discovery of the two mineralized zones on the South Sage claim group. The intercepts included 7.5 feet grading 0.042 per cent eU3O8 (equivalent triuranium octoxide) from 1,119 to 1,126.5 feet (hole BR-03-24) and 4.5 feet grading 0.024 per cent eU3O8 from 1,090 to 1,094.5 feet (hole BR-01-24).

The Beaver Rim areas drilled lie one mile to three miles south of Cameco's fully permitted in situ recovery Gas Hills project. The goals of the drilling program were to determine the validity of the company's geologic model for Beaver Rim and that it is a legitimate uranium exploration target. This included:

• Finding out if the arkosic-rich sediments beneath Beaver Rim correlate to the uranium-bearing sediments to the north in the adjacent Gas Hills mining district?
• Did these sediments act as the geologic passageway for uranium transport from the south through the project area towards Gas Hills?
• Are these sediments suitable for uranium deposition and was there any uranium mineralization discovered in the Beaver Rim sediments?

With completion of the initial phase of drilling, Strathmore Plus believes it has answered yes to each of the questions regarding the geologic model by having encountered uranium mineralization on the Beaver Rim project. The targeted host sandstone, the Puddle Springs arkose member of the Eocene Wind River formation, was tested with the drilling. Results of the drilling show that the Puddle Springs is a very clean quartzite-rich and feldspar-rich coarse sandstone and lesser mudstones. The member varied in thickness from 130 to 170 feet. Mineralization above grade cut-off (0.015 per cent eU3O8) was encountered in two holes (BR-01-24 and BR-03-24) in two separate sandstone intervals. A third hole, BR-02-24, showed above-background gamma levels in three distinct sand intervals with notable alteration of the granitic sandstones in all holes drilled.

Based on these results, Strathmore Plus believes the Beaver Rim area is a viable uranium exploration target. The company plans to continue exploration of the project in 2025, including on the Diamond claim group to the west, where previous drilling by Strathmore Minerals in 2012 encountered stacked roll-front mineralization.

Beaver Rim technical report

The company has refiled to SEDAR+ a technical report for the Beaver Rim project titled "Technical Report on the Gas Hills-Beaver Rim Uranium Exploration Project, Fremont and Natrona Counties, Wyoming, USA." The report was written by Mark B. Mathisen, CPG, of SLR International Corp. and dated May 31, 2022. The report was required for company regulatory purposes and inadvertently misfiled at the time in 2022. The report is available on SEDAR+. An updated report is planned upon completion of the fall exploration program at the Beaver Rim project.

About the Beaver Rim project

The Gas Hills uranium district is the largest uranium district in the state of Wyoming, with more than 100 million pounds of uranium being mined between 1954 to 1988 when production ceased due to declining prices. Historical and recent reports suggest 50 million to 100 million pounds of uranium may exist in the Gas Hills district. The Beaver Rim project consists of 265 wholly owned mining claims totalling 5,475 acres. The project area was previously explored by American Nuclear in the 1970s, Cameco between 1990 and the early 2000s, and most recently by Strathmore Minerals in 2012, where uranium mineralization was encountered at depths of 700 to 1,000 feet, contained in stacked, Wyoming-type roll-front deposits within arkosic-rich sandstones of the Eocene-age Wind River formation.

The Beaver Rim project lies immediately south and adjacent to Cameco's fully permitted Gas Hills in situ recovery project. Cameco reported for its Gas Hills project indicated and inferred mineral resources of 13.3 million and six million pounds of uranium at 0.14 per cent and 0.08 per cent eU3O8, respectively (reported Dec. 31, 2023). Additional, historically defined resources controlled by Cameco are noted to trend from its property south beneath the Beaver Rim claims, including the West Diamond, East Diamond, North Sage and South Sage properties. Strathmore Plus is reviewing the greater Beaver Rim area and past exploration as part of its intent to acquire additional properties with the potential to contain uranium mineralization.

Convertible note

The company is pleased to announce that it proposes to undertake a non-brokered private placement offering of unsecured convertible debenture units of the company at a price of $1,000 per convertible debenture unit for gross proceeds of up to $250,000.

Each convertible debenture unit will comprised: (i) one unsecured convertible debenture in the principal amount of $1,000 convertible into common shares of the company; and (ii) 5,000 detachable share purchase warrants exercisable into common shares at an exercise price of 25 cents per share.

The principal amount of the debenture, together with any accrued and unpaid interest, will mature and become due and payable in cash on the date that is five years from the date of issue of the convertible debenture units, subject to earlier conversion or redemption. The principal amount owing under the debentures will accrue interest from the date of issuance at 8.0 per cent per annum. As the convertible debentures will be unsecured debt obligations of the company, each convertible debenture will rank subordinate to all secured debt obligations of the company.

The principal amount may be converted, for no additional consideration, into conversion shares at the option of the holder of a convertible debenture at any time after the issue date at a conversion price of 20 cents per conversion share.

About Strathmore Plus Uranium Corp.

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

Qualified person

The 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, PGeo, vice-president, exploration, of Strathmore Plus, a qualified person.

We seek Safe Harbor.