Strateco Resources Inc.
OTC Bulletin Board : SRSIF

Strateco Resources Inc.

May 30, 2006 13:41 ET

Strateco Intends to Distribute 20,000,000 Common Shares of a New Gold Company to its Shareholders

MONTREAL, QUEBEC--(CCNMatthews - May 30, 2006) - Strateco Resources Inc. (TSX VENTURE:RSC)(OTCBB:SRSIF)(FRANKFURT:RF9)

Strateco Resources inc. ("Strateco") is pleased to announce the signature of the Sales Agreement signed May 19, 2006 with Cadiscor Resources Inc. ("Cadiscor"), a wholly owned subsidiary of Strateco, by which terms, Strateco has sold to Cadiscor, the Discovery and Montbray properties for a consideration in the amount of $4,700,172 payable as follows:

(1) issuance to Strateco of 20,000,000 common shares at $0.16 per
share for an aggregate value of $3,200,172;

(2) assumption by Cadiscor of the balance of sale price payable to
GeoNova Explorations Inc. ("GeoNova") pursuant to a sales
agreement between Strateco and GeoNova dated February 15, 2006
(the "GeoNova Agreement"), as follows:

(i) payment of $275,000 to GeoNova on or before August 30,

(ii) issuance to GeoNova of common shares of Cadiscor qualified
by prospectus of an aggregate value of $1,000,000, or at
the option of the Corporation, payment of $1,000,000 in
cash, on or before August 30, 2006;

(iii) assumption by Cadiscor of a 2% net smelter return ("NSR")
royalty payable to GeoNova and redeemable for $1,000,000;

(iv) assumption by Cadiscor of royalties payable to third

(3) reimbursement of amounts paid to GeoNova by Strateco pursuant
to the GeoNova Agreement, including $25,000 paid upon the
acceptance of the offer dated February 15, 2006, and the
$200,000 instalment on the sale price payable on or before May
30, 2006.

The closing of the Cadiscor Agreement is subject to certain
Conditions, including:

(i) approval of the sale of the Discovery and Montbray
properties by the regulatory authorities and by the
shareholders of Strateco,
(ii) closing of an initial public offering of common shares of
Cadiscor; and
(iii) listing of the common shares of Cadiscor on a recognized
Canadian exchange.

These conditions must be met on or before August 30, 2006.

Additional details concerning this Sales Agreement appear in the Information Circular of Strateco dated May 10, 2006 (The Circular that has been posted in view of the annual and special meeting of Strateco' shareholders to be held on June 20, 2006 (the "meeting").

Since Cadiscor is a wholly owned subsidiary of Strateco and that the Sales Agreement is made at the accounting value reported at the financial statements of the Company, Strateco is exempted pursuant to General Instruction Q-27 to obtain the minority shareholders approval and to obtain independent evaluation of the transferred properties. However, as mentioned in the circular, the sale of the properties shall be approved by a vote in favour of the two-thirds (66.6%) of the Strateco' shareholders represented in person or by proxy at the meeting.

At the meeting, the shareholders will also have to approve by special resolution the Reduction of the stated capital of the Strateco and the distribution of the 20,000,000 shares of Cadiscor issued to Strateco. These shares will be distributed to shareholders of record on the day immediately preceding the date of listing of Cadiscor shares on a recognized Canadian stock exchange. The shareholders of Strateco will thus receive shares of Cadiscor in proportion to the number of Strateco' shares held by them.

The Board of Director of Cadiscor has named Mr. Michel Bouchard as new president of the direction. Mr. Guy Hebert will act as chairman of the Board.

Michel Bouchard has been involved in the exploration, development and production fields of the mining sector for the last 25 years. He has a BSc and MSc in Geology and an MBA. He is credited for its contribution of the Bouchard-Hebert mine discovery in north-western Quebec. He was a director and a Senior Executive for various public companies.


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