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

Strateco Resources Inc.

April 29, 2008 08:46 ET

Strateco Resources Inc./New Discovery on Matoush: 1.32% eU3O8 Intersected Over 28 Metres

MONTREAL, QUEBEC--(Marketwire - April 29, 2008) - Strateco Resources Inc. ("Strateco")(TSX:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) is pleased to announce the discovery of a new mineralized zone on its Matoush property. Strateco owns 100% of the Matoush property, located in the Otish Mountains, 300 km north of Chibougamau.

The new zone, named MT-34, was intersected by Hole MT-08-034 at a vertical depth of 370 metres, south of the AM-15 and MT-22 zones. The Hole MT-08-034 is the best hole drilled by Strateco to date on the Matoush property.

The mineralized intersection extends over a 54.4-metre section of drill core and grades an average of 0.69% eU3O8, including a 28.0-metre section grading at an average of 1.32% eU3O8 and a 4.80-metre section with a grade of 6.13% eU3O8. The true width of the mineralized sections has not yet been determined. The equivalent uranium values were generated by the Gamma probe.

Two years of work has generated a good understanding of the geology and mineralization and led to the discovery of this new, high-grade uranium zone, and will likely result in the identification of many more mineralized zones. In fact, Strateco's work has established that the AM-15 and MT-22 high-grade uranium zones are associated with horizontal displacement of the Matoush fault.

Holes MT-08-019 and MT-08-027 indicated substantial offset of the Matoush fault between the two holes. Hole MT-08-034 was planned based on this observation, which led to the discovery of the new high-grade uranium zone (the location of Hole MT-08-034 can be seen at www.stratecoinc.com).

Through geophysical surveys and several drill holes, Strateco also established the presence of the Matoush fault and sedimentary horizons ACF-3 (AM-15 zone) and ACF-4 (MT-22 and MT-34 zones) on a distance of over 15 km, including a mineralized section located by Hole EC-08-01, 8.5 km south of the AM-15 zone. This hole recently intersected 0.15% eU3O8 over 2.1 metres at a vertical depth of 550 metres in the ACF-4. These ACF horizons of coarse sediments represent a favourable context for uranium precipitation.

The resources of the AM-15, MT-22 and MT-34 zones will be assessed as part of a new NI 43-101 resource estimate planned for the end of July 2008.

Strateco is continuing to prepare a scoping study scheduled for completion in late September for underground exploration to begin in mid-June 2009.

Strateco's goal is to outline sufficient resources to produce a minimum of 2,000,000 pounds of U3O8 per year for at least 10 years.

The Matoush property is well on its way to becoming a world-class uranium field with its very high grades, extraordinary potential and location in Quebec, considered to be among the most favourable region in the world for mine development.

This press release has been approved by Jean-Pierre Lachance, geol., Executive Vice President of Strateco Resources Inc, who is the qualified person as defined under National Instrument 43-101.

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.

Contact Information

  • STRATECO RESOURCES INC.
    Guy Hebert
    President and Chief Executive Officer
    450-641-0775 / 1-866-774-7722
    450-641-1601 (FAX)
    ghebert@bbhgm.com
    or
    STRATECO RESOURCES INC.
    Jean-Pierre Lachance
    Executive Vice President
    450-641-0775 / 1-866-774-7722
    450-641-1601 (FAX)
    jplachance@bbhgm.com
    or
    STRATECO RESOURCES INC.
    Audrey Vezina Angus
    Investor Relations
    450-641-0775, 1-866-774-7722
    450-641-1601 (FAX)
    http://www.stratecoinc.com
    avezina@bbhgm.com