Work Continues on Phase I of Gas Hills Exploration, Development and Permitting Program

Strathmore Minerals Corp. and Korea Electric Power Corp. are continuing with work on Phase I of the Gas Hills exploration, development and permitting program.

Originally scheduled for completion at the end of January 2013, approximately US $1.7 million remains in the Phase I budget, which will be applied to ongoing permitting and follow-up drilling of the Main Gas Hills Properties. Drilling is now planned to resume in March, with completion expected in the second quarter of 2013. On completion and review of the Phase I program results, KEPCO can elect to participate in Phase II by funding US $12 million in the first year of the Phase II program.

Chlumsky, Armbrust & Meyer LLC ("CAM") of Denver, Colorado, author of the initial NI 43-101 Gas Hills technical report, dated July 31 2012, is currently updating the Main Gas Hills Properties resource estimate, based on the recommended Phase I drilling and ongoing work completed in 2012. CAM's newly updated report will be completed during the quarter.