Strateco Resources Inc.
OTC Bulletin Board : SRSIF

Strateco Resources Inc.

September 06, 2007 08:30 ET

Strateco Provides an Update on Work on the Matoush Property

MONTREAL, QUEBEC--(Marketwire - Sept. 6, 2007) - Strateco Resources Inc. (TSX:RSC)(OTCBB:SRSIF)(FRANKFURT:RF9) ("Strateco") is pleased to report the results of 27 holes drilled as part of its AM-15 zone resource definition program at its wholly-owned Matoush uranium property, located 300 km north of Chibougamau in northern Quebec.

Results of chemical analyses have been received from the Saskatchewan Research Council for 16 of the 27 holes reported on in this press release. These holes were drilled to test the extensions immediately north and south of the AM-15 zone, as well as the upper part of the zone, primarily in the CBF.

The pierce point of the holes locations can be seen on the Company's web site at

The results confirm that even the AM-15 zone extensions contain uranium grades that are among the highest in the world, particularly for holes MT-07-42 and MT-07-49, located 150 m and 185 m north of the AM-15 hole section. Hole MT-07-42 returned an intersection of 1.34% U3O8 (27 lb/ton) over 1.3 metre, and hole MT-07-49 yielded an intersection of 1.83% U3O8 (37 lb/ton) over 4.0 metres, including 2.01% U3O8 over 3.6 metres (40.1 lb/ton). Table 1 shows these results by chemical analysis.

Table 2 summarizes in-situ radiometry results (% eU3O8) in the AM-15 area obtained by DGI Geoscience Inc., a company specializing in advanced borehole geophysics, using a calibrated natural gamma ray probe. Most of these holes were drilled in the northern extension of AM-15, with pierce points between 240 m and 395 m north of hole AM-15. It should be noted that the calibrated natural gamma ray probe was used in 34 holes, including the 16 holes for which chemical analysis results were obtained. The results for the two testing methods concurred.

Table I: Geochemical Results for the AM-15 Zone, view link at:

Table 2: Radiometric Results DGI Geoscience (% eU3O8) for the AM-15 Zone, view link at:

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

Other Exploration Work

In addition to the holes in the AM-15 zone extensions, 21 other exploration holes were drilled. Two of these, MT-07-55 and MT-07-59, lie about 2.5 km north of AM-15. The Matoush fault was intersected with low % U3O8 counts per second (cps) recorded on the core. More drilling will be done in this area next winter.

Nine holes were drilled between sections 39+65S and 44+65S in order to test Mag and EM geophysical anomalies. Cps up to 1,400 and 1,750 were recorded on the core of holes MT-07-70 and 71.

Five short holes were drilled near surface in the AM-8 area, from section 32+61S to section 33+83S. The in-situ radiometry results indicated mineralization in all five holes, including 0.5 metre at 0.12% eU3O8 in a 4.5-metre section grading 0.05% eU3O8 in hole MT-07-75.

Furthermore, five holes were drilled on the Eclat property, up to 6.0 km south of AM-15, in order to pinpoint the position of the Matoush fault and test for the presence of uranium mineralization. The Matoush fault was intersected with low % U3O8 cps recorded on the core. More drilling will be done in this area next winter.

Drilling continues around the clock, seven days a week using three drills. One drill has resumed drilling at depth, which was temporarily halted in June 2007. The drill results reported today will form part of an initial National Instrument 43-101-compliant resource calculation for the AM-15 zone. The estimate is being performed by Scott Wilson Roscoe Postle Associates Inc. of Toronto, and should be completed and released shortly.

Meanwhile, Golder Associates is working on the environmental impact study, and Lawrence A. Melis, P.Eng. of Process Engineering Services Ltd. is conducting metallurgical testing.

Strateco has the funds required to complete the scoping study, with over CAN $28 million in working capital as at June 30, 2007. These funds are not exposed to asset-backed commercial paper.

Qualified Person

Jean-Pierre Lachance, geologist, is the qualified person as defined by National Instrument 43-101. He has over 30 years of experience in mining exploration. Mr. Jean-Pierre Lachance approved this press release.

Forward-Looking Statements

This press 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 Alberta, British Columbia and Quebec and in the 10-KSB annual report filed with the US Securities and Exchange Commission. The Company does not undertake to publicly revise or update any such statements on the basis of new information, future events or any other event.

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