Strateco Resources Inc.
TSX : RSC
FRANKFURT : RF9

Strateco Resources Inc.

September 23, 2013 08:31 ET

The MDDEFP Minister Has All the Elements he Needs to Authorize Strateco's Matoush Project

BOUCHERVILLE, QUEBEC--(Marketwired - Sept. 23, 2013) - Strateco Resources Inc. (TSX:RSC)(FRANKFURT:RF9) ("Strateco") reports that it has sent the Ministre du Développement durable, de l'Environnement, de la Faune et des Parcs ("MDDEFP") its observations demonstrating the lack of justification for the MDDEFP minister's intended refusal to issue the certificate of authorisation for the Matoush project, due to "a lack of sufficient social acceptability". Strateco considers that the Minister has all the elements needed to make a favorable decision regarding the Matoush project. The observations were sent to the Minister last Friday.

Without acknowledging the "adequacy of social acceptability" as a suitable reason for the Minister's decision, Strateco points to the lack of directives, policies, guidelines or any other document that might provide a clear understanding of what constitutes social acceptability in Quebec.

Strateco has indicated to the Minister that a project's social acceptability cannot be limited to a single stakeholder, in this case the Cree. Furthermore, the Minister cannot abdicate his authority and give the Crees a veto on Category III lands, thereby creating a historical precedent in the development of Quebec's natural resources.

Strateco's observations also stress that the certificate of authorisation required for the Matoush project to proceed is for an exploration project, not a mining project. The advanced exploration phase is needed to enhance the technical data and provide more accurate answers to the concerns raised. In fact, the MDDEFP minister recognized this recently in relation to the matter of Anticosti Island oil.

Strateco has been awaiting a decision from the MDDEFP minister since August 2, 2011. In the meantime, two years have passed, during which time the Company was kept in the dark as to the Minister's intentions in this case. This period was characterized by losses of well-paid jobs (85 layoffs), as well as substantial uncertainty surrounding the $125 million already injected into Quebec by the Company through its investors.

The document sent to the MDDEFP minister with Strateco's observations can be found on the Company's website (www.strateco.ca).

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. Actual results and future events could differ significantly from those implied by such statements. These risks and uncertainties are discussed in Strateco's annual information form filed with the securities commissions of British Colombia, Alberta, Ontario and Quebec.

Contact Information

  • Strateco Resources Inc.
    Guy Hebert
    President & Chief Executive Officer
    450.641.0775 / 1.866.774.7722
    450.641.1601 (FAX)
    ghebert@strateco.ca

    Strateco Resources Inc.
    Jean-Pierre Lachance
    Executive & Exploration Vice President
    450.641.0775 / 1.866.774.7722
    450.641.1601 (FAX)
    jplachance@strateco.ca
    www.strateco.ca