Strateco Resources Inc.
TSX : RSC
FRANKFURT : RF9

Strateco Resources Inc.

April 10, 2012 08:31 ET

Strateco: CNSC Staff Recommend a Five-Year Licence for the Matoush Uranium Project

BOUCHERVILLE, QUEBEC--(Marketwire - April 10, 2012) - Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9) is pleased to report that its Commission Member Document ("CMD") for the Commission Tribunal of the Canadian Nuclear Safety Commission ("CNSC") and the CNSC staff CMD were filed and publicly released on its website (www.stratecoinc.com). Both CMDs were prepared for public hearings on the technical aspects of the Matoush uranium project underground exploration program, to be held in Mistissini on June 5, 2012, and in Chibougamau on June 7, 2012.

The CMD by CNSC staff contains information on a set of regulatory issues related to the Matoush project and the proposed licence, and presents recommendations to the Commission Tribunal regarding Strateco's application for a licence for its underground exploration program.

In their CMD, CNSC staff conclude that, among other things, the project, as described, poses a low overall risk to health, safety and the environment. CNSC staff further conclude that Strateco is qualified to carry on the activity authorized by the licence and that it will make adequate provision for the protection of the environment, the health and safety of persons and the maintenance of national security.

CNSC staff are recommending that the Commission Tribunal accept the CNSC staff's assessment and conclusions and approve the issuance of a five-year licence to Strateco, the maximum period allowed, for its Matoush project underground exploration program.

Strateco's CMD provides an overview of the Matoush project and describes the measures and programs already implemented and still to come in relation to the technical aspects, community relations and environmental and health & safety standards. It reiterates the CNSC staff recommendations and conclusions and demonstrates the Strateco team's capacity to carry out the underground exploration program.

CNSC and Strateco personnel will present their CMDs at the Mistissini and Chibougamau public hearings. The public is invited to review the information related to the public hearings on the CNSC website (www.cnsc-ccsn.gc.ca/eng/commission/pdf/2012-06-05-Notice2012-H-04-StratecoMatoushProject-e-Final-Edocs3914347.pdf).

Matoush Project cited in the March 29, 2012, federal budget

The public hearings on the technical aspects of the Matoush project underground exploration program are the last step in a very long licencing process that started in September 2008. As such, the Matoush project was cited in the last federal budget (p. 97) as an example of how slow the environmental assessment is (www.budget.gc.ca/2012/plan/pdf/Plan2012-eng.pdf). The federal Minister of the Environment, the honourable Peter Kent, and the federal administrator of the James Bay and Northern Quebec Agreement, Elaine Feldman, both rendered a positive decision on the Matoush project environmental impact assessment statement in February 2012. The process will therefore have taken nearly four years.

This news 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 British Columbia, Alberta, Ontario and Quebec.

Contact Information

  • Strateco Resources Inc.
    Guy Hebert
    President and Chief Executive Officer
    450-641-0775 or 1-866-774-7722
    450-641-1601 (FAX)
    ghebert@bbhgm.com

    Strateco Resources Inc.
    Jean-Pierre Lachance
    Executive Vice President
    450-641-0775 or 1-866-774-7722
    450-641-1601 (FAX)
    jplachance@bbhgm.com

    Strateco Resources Inc.
    Jason Roy
    Consultant, Investor Relations
    647-780-2837 ou 647-780-2837
    jroy@stratecoinc.com
    www.stratecoinc.com