Strathmore Confirms 85% Mineralization Hit Rate at Agate

• Date: May 20, 2026
• Headline: Strathmore Confirms 85% Mineralization Hit Rate at Agate
• Core Announcement: The company released assay results from recent core drilling at the Agate Project in Wyoming's Shirley Basin District.
• Key Metrics: Drilling achieved an 85% mineralization hit rate across lower sand and middle sand trends. This is a slight improvement over the 81% hit rate reported on May 5, 2026.
• Intercepts: Specific intervals reported include:
  • AG-244-25: 23.5 feet grading 0.076% eU3O8 (gamma), with chemical assays up to 0.1250% U3O8.
  • AG-245-25: 19.5 feet grading 0.04% eU3O8.
• Operational Status: The company has completed 294 holes at the Agate Project to date. Mineralization is typically found between 20 to 150 feet deep, suitable for in-situ recovery (ISR).
• Next Steps: Preparation of a Plan of Operation (POO) for federal and state regulators, plus floral/faunal/archaeology surveys.

• Incremental Nature: The news is a follow-up to the May 5, 2026 release which reported an 81% hit rate. An increase from 81% to 85% confirms consistency but does not represent a step-change in data quality or scale.
• No New Catalysts: There is no mention of a resource estimate, permitting approval (POO submission status remains "preparing"), or new financing. The market likely anticipated continued drilling success given the previous month's results.
• Capital Structure Context: While positive operationally, this news does not address the significant dilution from recent financings ($1.1M in March 2026 and $650k debt settlement).
• Verdict: The information is expected by investors tracking the project progression. It validates the exploration thesis but lacks the magnitude to drive a material re-rating of the stock price on its own.

• Company: Strathmore Plus Uranium Corporation.
• Flagship Project: Agate Project, Wyoming (Shirley Basin District).
• Project Type: Uranium roll-front deposits amenable to In-Situ Recovery (ISR).
• Location: Adjacent to projects held by Cameco and UEC; near UR-Energy's active ISR mine.
• Land Position: 124 wholly owned lode mining claims covering approximately 2,560 acres.
• Depth: Mineralization typically found between 20 to 150 feet deep.
• Status: Exploration and permitting phase (Plan of Operation preparation).