Mr. Dev Randhawa reports

STRATHMORE CONTINUES TO ADVANCE AGATE PROJECT WITH 2026 DRILLING PROGRAM

Strathmore Plus Uranium Corp. intends to begin 2026 exploration drilling at the Agate project the week of April 13. 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's projects and lies close to Ur-Energy's satellite in situ mine that is currently under construction and planned for start-up of operations in the spring of 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 per cent 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 to 2025. Stepout 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, Wyo., for chemical assaying of potential uranium mineralization. Assay results are anticipated for mid-April.

John DeJoia, PGeo, 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 favourably as it moves forward."

About the Agate property

The Agate property consists of 124 wholly owned lode mining claims covering approximately 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 the Shirley basin, including from open-pit, underground and the first commercial in situ recovery operation in the United States during the 1960s. At the property, the uranium mineralization is shallow, from 20 feet to approximately 150 feet deep, much of which appears below the water table and likely amenable to in situ recovery. Kerr McGee, the largest U.S. 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 to 2025 drilling programs, including installation of five monitor wells for groundwater studies and recovery of core for chemical assays and XRF (X-ray fluorescence) 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.

Pursuant to the debt settlement, the company will issue an aggregate of 3.25 million common shares in the capital of the company at a deemed price of 20 cents 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. 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 per cent 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.

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 Uranium, a qualified person.

We seek Safe Harbor.