Strateco Resources Inc.

Strateco Resources Inc.

March 30, 2005 12:23 ET

Strateco Resources Acquires Highly Prospective Uranium Property in Quebec


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: STRATECO RESOURCES INC.

TSX VENTURE SYMBOL: RSC

MARCH 30, 2005 - 12:23 ET

Strateco Resources Acquires Highly Prospective Uranium
Property in Quebec

MONTREAL, QUEBEC--(CCNMatthews - March 30, 2005) - Strateco Resources
Inc. (TSX VENTURE:RSC)(US SEC registration # 0-49942) ("Strateco")
announced today it has acquired 100% of a highly prospective uranium
property located 40 kilometres northeast of Mont-Laurier in Quebec.

The property consists of 80 contiguous claims covering 4,710 hectares in
Perodeau township and is easily accessible by a paved road from
Mont-Laurier.

Strateco President Guy Hebert noted that "this acquisition was made in
order to broaden Strateco's commodity base. The supply/demand
fundamentals of uranium are extremely bullish. This particular property
was chosen following an in-depth review of potentially favourable areas
for uranium in the province of Quebec."

The newly-acquired land holdings lie within the Cabonga-Mont-Laurier
radioactive district of the Grenville Geological Province. Extensive
exploration occurred in the area between 1969 to 1981 following the
discovery of uranium mineralisation by Canadian Johns-Manville in 1967.

Strateco land holdings cover ground previously held by Mont-Laurier
Uranium Mines in the 1970s. The claim block straddles the crest of a
northeast-trending anticline and covers the prospective south extension
of the Tom Dick uraniferous horizons. The promising south extension of
the Tom Dick uraniferous horizons host numerous prospects stripped by
Mont-Laurier Uranium Mines and values of 0.035% to 0.590% U308 were
obtained.

Uranium mineralisation occurs mainly as disseminated uraninite in white
metamorphic pegmatite and intercalated impure feldspathic-biotitic
quartzites and biotite gneiss. The paragneisses are underlain by
Archean-age granitic gneisses mainly exposed in erosional windows along
the crest of major northeast-trending anticlinal folds.

Two uraniferous white pegmatite horizons are known within the
south-central portion of Strateco's land holdings, previously known as
the Hanson Lake claims. The most notable is a 6-metre thick horizon
dipping 20§ to the northwest, which was traced over a strike length of
365 metres to the northeast by trenching. An estimated 544,000 tonnes
grading 0.075% U3O8 is reported. The central portion of Strateco's land
holdings, on strike between the Tom Dick Zone and the Hanson Lake
horizon, has seen very little exploration due to fluvio-glacial coverage.

Extensive shallow-dipping radioactive white metamorphic pegmatite
horizons have been defined to the north by Allied Mining, Canadian
Johns-Manville and Mont Laurier Uranium Mines Inc. indicating the
potential for near-surface, large-tonnage, low-grade, uranium deposits
amenable to open pit mining methods. Molybdenite was observed in
uraniferous white pegmatite by Soquem and could represent a by-product
which could enhance the economic valuation of the ore. Selected samples
returned assays of 1,120 and 1,280 ppm Mo.

The Quebec Ministry of Natural Resources report has classified the
Mont-Laurier area of high potential for rare earth elements (REE)
associated with uranium-bearing pegmatites. U-Th-REE deposits are fast
becoming of interest due partly to the steadily rising demand as new
applications for REE are being developed. The REE potential has not been
evaluated.

Although the Mont-Laurier district is classified under deposits of the
pegmatite-type it bears a similar geological setting to the rich
Athabaska Basin deposits of Saskatchewan. Both are found along a major
unconformity between deformed basement and an overlying Proterozoic-age
sedimentary basin. The pegmatitic origin of the main host to the
Mont-Laurier mineralization resulted from anatexis of sandstone units
during high-grade metamorphism.

Cardinal Project

Strateco is also currently reviewing uranium opportunities on its
Cardinal property located in the Otish Mountains basin in northern
Quebec. The property is located less than 4 kilometres east of the
Beaver Lake kimberlite, an area where Uranerz Mining and Exploration Ltd
have been intensively exploring for uranium in the 1970s.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Strateco Resources Inc.
    Guy Hebert
    President
    (450) 641-0775
    ghebert@bbhgm.com
    or
    Strateco Resources Inc.
    Jean-Pierre Lachance
    Executive Vice President
    (450) 641-0775
    jplachance@bbhgm.com
    www.stratecoinc.com
    or
    CHF Inc., Investor Relations
    Olav Svela
    Vice President
    (416) 868-1079
    olav@chfir.com
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