Strateco Resources Inc.
OTC Bulletin Board : SRSIF

Strateco Resources Inc.

January 31, 2007 10:23 ET

Strateco Resources Completes CDN $25,000,000 Financing

MONTREAL, QUEBEC--(CCNMatthews - Jan. 31, 2007) - This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.

Strateco Resources Inc. (TSX VENTURE:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) ("Strateco") is pleased to announce that it has completed its previously announced private placement of 9,620,000 units (the "Units") of Strateco, including 1,920,000 Units upon exercise of the Underwriters' Option, at a price of Cdn$2.60 per Unit (the "Issue Price") for gross proceeds of Cdn$25,012,000.

Each Unit is comprised of one common share (a "Unit Share") of Strateco and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share at a price of Cdn$3.50 until January 31, 2009, provided that if the closing price of the common shares of Strateco is equal to or greater than Cdn$4.50 for 20 consecutive trading days at any time after June 1, 2007, upon 30 days notice from Strateco, it may accelerate the expiry of the Warrants.

The brokered private placement was completed by a syndicate of underwriters led by Orion Securities Inc. including Dundee Securities Corporation, Blackmont Capital Inc. and Sprott Securities Inc. (collectively the "Underwriters"). In connection with the private placement, the Underwriters received a cash commission equal to 6.0% of the gross proceeds of the offering. The Underwriters also received compensation options (the "Compensation Options") equal to 6.0% of the total number of Units sold pursuant to the offering, each Compensation Option entitling the Underwriters to purchase one Unit at the Issue Price until January 31, 2009.

Strateco will use the net proceeds from the Offering to fund the further exploration of the Matoush and Mont-Laurier uranium projects in Quebec and for working capital purposes.

The Unit Shares, the Warrants and the common shares issuable on the exercise of the Warrants will not be subject to any hold or restricted period which extends beyond June 1, 2007.

This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements.


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