Strateco Resources Inc.
OTC Bulletin Board : SRSIF

Strateco Resources Inc.

April 10, 2007 08:15 ET

Strateco Obtains Impressive New Intersections on Matoush, Including 2.00% U3O8 Over 16 Metres

MONTREAL, QUEBEC--(CCNMatthews - April 10, 2007) - Strateco Resources Inc. ("Strateco") is pleased to announce the results of chemical analyses for the first eight holes drilled in 2007 on its wholly-owned Matoush property in the Otish Mountains of northern Quebec.

Strateco has received the results for holes MT-07-01 to MT-07-08 from the Saskatchewan Research Council (SRC). These holes are part of the 30,000-metre drilling program for 2007.

All of the eight holes were drilled in the ACF in the southern extension of AM-15, with the exception of Hole MT-07-01, which was drilled in the CFB 110 metres north of AM-15. The location of the drill hole pierce points can be seen on a longitudinal section on the Company's website, at

The results of chemical analysis confirm the presence of very high grades over impressive widths. The best values were obtained in Hole MT-07-03, which returned a grade of 2.00% U3O8 over 16 metres, representing 40 lb/ton U3O8 over 53 feet. This excellent intersection includes 4.02% U3O8 over 3.55 metres (80 lb/ton).

The pierce point for MT-07-03 is at the same vertical depth as, and 50 metres south of, Hole MT-06-30, which returned an excellent value of 2.1% U3O8 over 12.4 metres (42 lb/ton U3O8 over 41 feet).

Holes MT-07-05 and 06, drilled on the same section, 50 metres south of AM-15 in the lower ACF, intersected 2.03% U3O8 over 5.4 metres (40.6 lb/tonne) and 0.53% U3O8 over 13.95 metres (10.6 lb/ton) respectively, including 2.94% U3O8 over 3.75 metres (58.8 lb/ton).

Hole MT-07-01 is of particular interest, indicating the presence of uranium mineralization in the CBF, 30 metres above the upper ACF contact, with an intersection of 0.43% U3O8 over 0.70 metres.

A table of the intersections for holes is available at the following addresse:

The true width of the mineralized sections has not yet been determined.

On February 20, 2007, Strateco began drilling Hole MT-07-09, the first hole on the Matoush property to reach the basement. The 1,296-metre long hole was completed on March 21, 2007, with promising results. The basement was intercepted at a vertical depth of 792 metres instead of the expected 950 metres. The Matoush fault was located in the basement, as anticipated. Before reaching basement, Hole MT-07-09 drilled through over 400 vertical metres of ACF, 30 metres of quartz pebble conglomerate and, finally, a regolite with a vertical thickness of about nine metres. The basement consists of foliated tonalite and gneiss.

The core was examined by Rejean Girard, a geologist with IOS Geoscientifique, the consulting firm that is supervising exploration on the Matoush property. His comments attest to the similarity with the geological context of the basement-sedimentary contact seen in the prolific Athabaska basin: "The regolite is very well developed at the basement-sedimentary contact, for a minimum of nine metres into the basement. The alteration is dominated by argillization. This alteration also affects the conglomerate matrix and the underlying sandstones, along with an indeterminate mineral, possibly a sulphate. Ferruginous oxidation is not well developed. Based on the available data, these alterations would be similar to those seen in the Athabaska basin in Saskatchewan. The Matoush fault visibly affects the basement rocks, forming a strongly-altered cataclase zone about one metre thick. The diabase dyke is present, but not directly in the fault. This alteration is very significant."

The second deep hole, Hole MT-07-15, is presently in progress, targeting the intersection of the fault and the ACF at a vertical depth of 600 metres. It will be followed by a third hole that will target the discordance at -800 metres.

Guy Hebert stated: "We are extremely encouraged by the results of drilling on Matoush. Our first hole to reach basement has revealed a very promising geological context."

Strateco presently has three drills operating on the site: one drilling the deep holes and two others drilling on the lake, in the southern extension of the AM-15 zone. Toward the end of April, two drills will begin exploring the new ACF discovered at depth and the basement level (-800 m), while the third drill continues to outline the AM-15 zone. A NI 43-101-compliant reserve calculation for the AM-15 zone will begin in the summer of 2007.

At the site, a 45-person camp that was due to be operational in mid-June will be ready by mid-April 2007. A range of equipment has been transported to the site using the winter road, along with about 750,000 litres of fuel. This will allow drilling to continue uninterrupted year-round.


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