Strateco Resources Inc.
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Strateco Resources Inc.

August 07, 2008 10:26 ET

Strateco/Matoush: A 300% Increase of the Mineral Resources in 10 Months

MONTREAL, QUEBEC--(Marketwire - Aug. 7, 2008) - Strateco Resources Inc. ("Strateco")(TSX:RSC)(OTCBB:SRSIF)(FRANKFURT:RF9) is pleased to announce that the Mineral Resource Estimate of it's wholly-owned uranium Matoush Project has increased by 300% since the last National Instrument 43-101 released October 1st, 2007. The Matoush project is located 300 km north of Chibougamau in the Otish Mountains, Quebec.

Scott Wilson Roscoe Postle Associates (Scott Wilson RPA) has updated the NI 43-101 Resource estimate for the Matoush uranium project using drill hole data available as of July 25th, 2008. At a cut-off grade of 0.05% U3O8, Indicated mineral resources are estimated to total 250 thousand tonnes grading 0.68% U3O8 containing 3.73 million pounds U3O8. Inferred mineral resources are estimated to total 1.3 million tonnes grading 0.44% U3O8 containing 13.07 million pounds U3O8. The Mineral Resources are contained within three zones: AM-15, MT-22 and MT-34.

There are no mineral reserves estimated at Matoush. See longitudinal section on www.stratecoinc.com. The NI 43-101 complete report prepared by Qualified Persons R. Barry Cook, P.Eng. and David A. Ross, P.Geo., will be available on SEDAR (www.sedar.com) within 45 days.



Table 1 - Mineral Resource Estimate for Matoush, July 25, 2008

Tonnes Grade Pounds U3O8
(x 1,000) (% U3O8) (x 1,000)
----------------------------------------------------------------
Indicated
AM-15 162 0.52 1,840
MT-34 88 0.97 1,890
----------------------------------------------------------------
Total Indicated 250 0.68 3,730

Inferred
AM-15 16 0.14 50
MT-22 801 0.38 6,680
MT-34 527 0.55 6,350
----------------------------------------------------------------
Total Inferred 1,344 0.44 13,070

Notes:

1. CIM Definitions were followed for Mineral Resources.

2. The cut-off grade of 0.05% U3O8 was estimated using a price of
US$55/lb and assumed operating costs.

3. Wireframes at 0.05% U3O8 and a minimum true thickness of 1.5 metres
were used to constrain the grade interpolation.

4. High U3O8 grades were cut to 9% prior to compositing to two metre
lengths

5. Several blocks less than 0.05% U3O8 were included for continuity or to
expand the lenses to the minimum thickness.

6. Totals may not sum correctly due to rounding.


The Matoush drill hole includes 257 diamond core holes totalling more than 98,000 m. A set of cross sections and plan views were interpreted to construct three-dimensional wireframe models at a cut-off grade of 0.05% U3O8, and a minimum true thickness of 1.5 metres. High U3O8 values were cut to 9% U3O8 prior to compositing to two metres. Variogram parameters were interpreted from two metres composited U3O8 values. Block model U3O8 grades within the wireframe models were estimated by ordinary kriging. More than 98% of the U3O8 values in the drill hole database used in the grade estimate were derived from chemical analysis. The remaining values, from 27 of the most recent drill holes, were derived from gamma-probe data.

Classification into the Indicated and Inferred categories was guided by the drill hole density, interpreted variogram ranges and the apparent continuity of the mineralized zones.

The Inferred category has a general drilling grid of approximately 50 metres by 50 metres up to 70 metres.

Through geophysical surveys and several drill holes, Strateco has also established the presence of the Matoush fault and sedimentary horizons ACF-3 (AM-15 zone) and ACF-4 (MT-22 and MT-34 zones) on a distance of over 15 km, including a mineralized section located by Hole EC-08-01, 8.5 km south of the AM-15 zone. This hole intersected 0.15% eU3O8 over 2.1 metres at a vertical depth of 550 metres in the ACF-4. These ACF horizons of coarse sediments are a favourable context for uranium precipitation.

Since the cut-off date of July 25th, 2008 drilling continues with three drills. Two of the drills currently operating on the Matoush property have been assigned to exploration and resource definition of the new MT-34 zone and exploration to the south of the MT-34 zone, which is open on 12 km.

The third drill is outlining the resource on the MT-22 zone and exploring to the north of MT-22.

The fourth drill operational on Matoush was placed to the disposal of other mining companies working in the Otish Mountains. In August, that drill rig will be used by Strateco to test exploration targets on Strateco's Pacific Bay option.

Extensive surface exploration and airborne VLF geophysics were carried during the summer on that property.

SCOPING STUDY

The new NI 43-101 Mineral Resource estimate will be used as base for the ongoing scoping study report. The report should be completed at the end of September 2008 and will provide first economics of the project.

UNDERGROUND EXPLORATION - PERMITTING PROCESS

On July 15, 2008, Strateco has presented for guideline a Preliminary Project Description to the Nuclear Fuel Cycle and Facilities Regulation, the Canadian Environment Assessment Agency and to the Ministere du Developpement Durable, de l'Environnement et des Parcs du Quebec. The Preliminary Project Description for the underground exploration program includes: Project components, Metallurgy and mine water, Health and Safety program and 15 different appendices on environmental assessment study, water treatment plant, Metallurgical test works, project schedule, etc.

The final Project Description document will be filled on SEDAR as soon as available.

Mr. Guy Hebert, President said: "Since the beginning of exploration on our Matoush project in 2006, we said and had repeated that our goal is to develop a minimum resource of between 15 and 20 millions pounds U3O8 to justify a mining operation of 2 million pounds per year for at least 10 years. We are there now. The Matoush property is well on its way to becoming a world-class uranium field, with its very high grade, extraordinary potential and localisation in Quebec considered to be among the most favourable region in the world for mining development."

This press release has been read and approved by Jean-Pierre Lachance, geol., Executive Vice President of Strateco Resources Inc. and R. Barry Cook, P.Eng. Associate geologist at Scott Wilson Roscoe Postle Associates who are the qualified persons as defined under National Instrument 43-101.

CAUTIONARY NOTE TO U.S. INVESTORS -The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-KSB which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.

This press release contains forward-looking statements subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct, and actual results and future events could differ materially from those implied by such statements. These risks and uncertainties are discussed in the annual report filed with the securities commissions of Alberta, British Columbia, Toronto and Quebec, and in the 10-KSB annual report filed with the US Securities and Exchange Commission.

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