KELOWNA, BRITISH COLUMBIA (May 10, 2007) - Strathmore Minerals Corp. (TSX-V: STM) ("Strathmore") is pleased to announce that an Arrangement Agreement between itself and Fission Energy Corp. ("Fission Energy"), a new company created by Strathmore to effect the spin-out, has been executed. Strathmore is also pleased to announce that the Supreme Court of British Columbia granted an Interim Order to Strathmore authorizing and directing it to call, hold and conduct an annual and special meeting of its securityholders to, among other things, consider, and if deemed available, pass a special resolution adopting and approving the proposed plan of arrangement between the parties and Strathmore's securityholders. The meeting of Strathmore's securityholders will be held on June 19, 2007, with a record date of May, 7, 2007.

As previously announced on January 31, 2007, Strathmore is proposing to reorganize its mineral property assets with a view to maximizing shareholder value. In particular, Strathmore proposes to transfer all of its Canadian and Peruvian mineral properties and $500,000 of its cash into a new exploration company, Fission Energy, pursuant to a plan of arrangement. Strathmore would continue to hold all of its U.S. assets. Immediately following such arrangement, Strathmore's shareholders, other than any dissenting shareholders, would be issued shares in Fission Energy so that collectively, they would own all of its new company's shares which would be listed on the TSX Venture Exchange.

The proposed reorganization is subject to shareholder approval and the approval by the British Columbia Supreme Court, negotiation of definitive agreements, acceptance by the TSX Venture Exchange and other regulatory approvals. An Information Circular with detailed information will be mailed to securityholders. Further updates will be announced in due course.

STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties. Headquartered in Kelowna, British Columbia, the Company also has U.S. based Development Offices in Riverton, Wyoming and Santa Fe, New Mexico. STRATHMORE MINERALS CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "STM".

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. For instance, the proposed plan of arrangement to reorganize Strathmore may be unsuccessful for unforeseen reasons such as an inability to obtain the necessary shareholder, regulatory or other approvals. In addition, any reorganization may be on terms that are different from those currently envisioned by the company.

This press release shall not constitute an offer of securities for sale in the United States or Canada or the solicitation of an offer to buy securities in the United States or Canada, nor shall there be any sale of the securities in any jurisdiction or state in which such offer, solicitation or sale would be unlawful.

ON BEHALF OF THE BOARD

"Dev Randhawa"
__________________________
Dev Randhawa, Chairman & CEO


For Investor Relations:
Bob Hemmerling/Craig Christy
1-800-647-3303
info@strathmoreminerals.com
www.strathmoreminerals.com

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.