Strathmore Continues to Advance Agate Project with 2026 Drilling Program

Rhea-AI Summary

Strathmore (CSE: SUU / OTCQB: SUUFF) will begin a 2026 exploration drilling program at the Agate Project the week of April 13, 2026, targeting extensions of uranium mineralization in Shirley Basin, Wyoming.

In 2025 Strathmore completed 45 holes, expanded the northern Lower Sand trend by >1,200 feet and the southern Middle Sand trend by 500 feet, with ~95% of holes intersecting mineralization. Up to 50 holes are planned for 2026; 20 cored intervals were submitted to Pace Analytical with assay results expected mid-April.

Positive

• Northern Lower Sand trend extended by >1,200 feet
• Southern Middle Sand trend expanded by 500 feet
• ~95% of 2025 holes intersected uranium mineralization
• Up to 50 holes planned for April 2026 drilling

Negative

• Assay results pending; chemical assays expected mid-April
• Plan of Operations not yet secured as project advances

Kelowna, British Columbia--(Newsfile Corp. - March 31, 2026) - Strathmore Plus Uranium Corporation (CSE: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce that 2026 Exploration Drilling at the Agate Project is to begin the week of April 13th. The Agate Property is a potential in-situ recovery project located in the Shirley Basin Uranium District, of central Wyoming. Agate borders both Cameco and UEC projects and lies close to UR-Energy's satellite in-situ mine that is currently under construction and planned for startup of operations this spring 2026.

In 2025, Strathmore completed 45 drill holes, including five cored holes, as part of a successful exploration program. Drilling expanded the northern Lower Sand trend by over 1,200 feet (now open-ended and nearly one mile in length) and the southern Middle Sand trend by 500 feet (now over 1,300 feet in length and open in both directions). Approximately 95% of the holes intersected uranium mineralization. Twenty cored intervals from the 2025 program have been submitted to Pace Analytical for chemical assaying, with results anticipated in mid-April.

For Strathmore's April 2026 exploration project, the Company plans to drill up to 50 holes, targeting on-trend mineralization previously defined in 2024-25. Step-out drilling will target extensions of mineralization previously intersected by Strathmore in areas of historically concentrated drilling completed by Kerr-McGee Corp. in the 1970s, with the goal of expanding the mineralized trends into untested portions of the property.

Additionally, several historical holes that were located with legible drill collar markers will be drilled and washed out for comparison and confirmation of Kerr-McGee's historical gamma logging and mapping of the drill hole locations.

Recently, Strathmore submitted 20 cored intervals from the 2025 drilling to a certified lab, Pace Analytical of Sheridan, Wyoming, for chemical assaying of potential uranium mineralization. Assay results are anticipated for mid April.

John DeJoia, P.Geo commented: "The successful completion of the initial Agate drilling phase marks a significant milestone as the project advances toward securing the Plan of Operations and progressing into the next stages of development. Expanded trend lengths and the continued southward extension of mineralization underscore strong potential for additional discoveries, while further defining the geologic framework. These results enhance the project's overall value proposition and position it favorably as it moves forward."

About the Agate Property
The Agate property consists of 124 wholly owned lode mining claims covering ~2,560 acres. Uranium mineralization is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 53 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 20 to approximately 150 feet deep, much of which appears 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 in the 1970s, delineating several targets of potential mineralization. Strathmore completed 250 holes during the 2023-25 drilling programs, including installation of five monitor wells for groundwater studies and recovery of core for chemical assays and XRF analysis at the University of Wyoming.

Debt Settlement
The Company announces that it has entered into debt settlement agreements with certain creditors of the Company, including certain insiders, to settle an aggregate of $650,000 in outstanding debt (the "Debt Settlement").

Pursuant to the Debt Settlement, the Company will issue an aggregate of 3,250,000 common shares in the capital of the Company (the "Debt Shares") at a deemed price of $0.20 per Debt Share. The debt was incurred in connection with management and consulting services provided to the Company between October 2023 and March 2026. No warrants are being issued in connection with the Debt Settlement.

Of the total Debt Settlement, an aggregate of $339,000 in debt is being settled with certain officers of the Company through the issuance of 1,695,000 Debt Shares. The participation of these insiders in the Debt Settlement constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the Debt Settlement with the insiders does not exceed 25% of the Company's market capitalization.

The Debt Settlement remains subject to the approval of the Canadian Securities Exchange. All Debt Shares issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.

About Strathmore Plus Uranium Corp. Strathmore is focused on discovering uranium deposits in Wyoming, and has three permitted uranium projects 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 CSE Exchange nor its Regulation Services Provider (as the term is defined in policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release".

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, P.Geo., Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person.

Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com

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

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.sedarplus.ca. 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 as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290617

FAQ

When will Strathmore (SUUFF) start the 2026 Agate Project drilling program?

Drilling is scheduled to begin the week of April 13, 2026. According to the company, the program will target on-trend mineralization and historical drill sites with up to 50 planned holes.

What were the 2025 Agate Project drilling results reported by Strathmore (SUUFF)?

Strathmore reported 45 holes completed in 2025 with approximately 95% intersecting mineralization. According to the company, trend length grew: northern Lower Sand +1,200 feet and southern Middle Sand +500 feet.

When will Strathmore (SUUFF) release assay results from 2025 Agate drilling?

Assay results are anticipated in mid-April 2026. According to the company, 20 cored intervals were submitted to Pace Analytical in Sheridan, Wyoming, for chemical assaying of uranium mineralization.

How large is Strathmore's planned 2026 drill program at Agate (SUUFF)?

The company plans to drill up to 50 holes during the April 2026 program. According to the company, targets include step-outs and historical Kerr-McGee drill locations for confirmation and expansion.

What is the significance of the Agate Project location for Strathmore (SUUFF)?

Agate lies in the Shirley Basin uranium district bordering projects by Cameco and UEC. According to the company, proximity to nearby in-situ uranium activity supports exploration potential and project relevance.