Strateco Resources Inc.
OTC Bulletin Board : SRSIF
FRANKFURT : RF9
TSX : RSC

Strateco Resources Inc.

December 23, 2010 13:30 ET

Strateco Closes a $13.0 Million Private Placement

BOUCHERVILLE, QUEBEC--(Marketwire - Dec. 23, 2010) - NOT FOR RELEASE OVER U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) is pleased to announce that it has closed the $10,000,043 bought deal private placement financing that it announced on November 30, 2010 comprised of 6,024,100 units (the "Units") and 5,263,200 flow-through common shares (the "Flow-Through Shares"). Furthermore, the syndicate of underwriters (the "Underwriters") exercised its full option to sell an additional 3,615,000 Units representing $3,000,450 for total gross proceeds of $13,000,493.

Led by Dundee Securities Corporation and including National Bank Financial Inc., Macquarie Capital Markets Canada Ltd., Stonecap Securities Inc., Haywood Securities Inc., Laurentian Bank Securities Inc. and NCP Northland Capital Partners Inc., the Underwriters sold 9,639,100 Units of Strateco at $0.83 per Unit and 5,263,200 Flow-Through Shares at $0.95 per Flow-Through Share. Each Unit consists of one common share plus half a transferable common share purchase warrant, with each whole warrant entitling its holder to purchase one common share at a price of $1.05 per share for a period of 24 months from closing.

All the securities issued are subject to a hold period of four months from the closing date.

In connection with this private placement, the Underwriters received a cash commission of 5.0% of the gross proceeds raised under the offering.

The proceeds of the financing will be used to advance development of Strateco's properties and for general working capital purposes.

This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's filings that are available at www.sedar.com.

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