Strateco Resources Inc.
TSX : RSC
FRANKFURT : RF9

Strateco Resources Inc.

December 05, 2013 12:37 ET

Strateco Asks the Quebec Superior Court to Annul Minister Blanchet's Decision not to Issue the Certificate of Authorization for the Matoush Project

BOUCHERVILLE, QUÉBEC--(Marketwired - Dec. 5, 2013) - On December 5, 2013, Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9) filed a motion to invalidate the decision rendered by Quebec's Minister of Sustainable Development, the Environment, Wildlife and Parks, Yves-François Blanchet (the "Minister"), on November 7, 2013, whereby he refused to deliver the certificate of authorization for the underground exploration phase of the Matoush project.

The motion to invalidate the decision sets out many facts that demonstrate the illegality of the decision, as well as the excess of jurisdiction on the part of the Minister. Strateco also exposes the various ways in which the Minister has violated the procedural safeguards that Strateco should have been able to rely on throughout the authorization process.

In addition to seeking the invalidation of the decision, Strateco is asking the Superior Court to force the Minister to issue the certificate of authorization needed for the advanced exploration phase. The way Strateco was treated throughout the licensing process shows that the Minister no longer has the impartiality required to assess the Strateco's application for authorization on the basis of its merits.

The certificate of authorization sought by Strateco is the only authorization still required to begin the advanced exploration phase of the Matoush project. All the other permits have already been obtained from the other agencies involved in the process, and the Quebec government itself has delivered more than 20 certificates and authorizations of various types, allowing the realization of the project.

Due to its high uranium content, the Matoush project has an extremely rare potential. Quebec-based Strateco will continue to vigorously defend the interests of its shareholders, who have invested more than $123 million in the Matoush uranium project.

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
    ghebert@strateco.ca
    450.641.0775 / 1.866.774.7722
    450.641.1601 (FAX)

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