Strateco Resources Inc.
OTC Bulletin Board : SRSIF

Strateco Resources Inc.

October 27, 2010 08:30 ET

Strateco Resources Inc.: Public Hearings to Be Held on the Environmental Impact Study for the Matoush Project Underground Exploration Program

BOUCHERVILLE, QUEBEC--(Marketwire - Oct. 27, 2010) - Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) is very pleased to announce the dates of the public hearings on the environmental impact study for the Matoush project underground exploration program. The hearings will be held on November 23 and 25, 2010, in Mistissini and Chibougamau, respectively. The hearings are an opportunity for members of the public to file and present briefs expressing their views to the commissioners of the federal review panel ("COFEX-South") and the provincial review panel ("COMEX"). Representatives of the Canadian Nuclear Safety Commission ("CNSC") will also be on hand to respond to questions or requests from the public. 

Licensing Process

These public hearings are part of the long process of obtaining a licence for the Matoush project underground exploration program. The process began on July 15, 2008, with the filing of the Matoush Preliminary Project Description with the CEAA and the Quebec Ministère du Développement durable, de l'Environnement et des Parcs ("MDDEP"). After receiving comments and directives from the various government bodies, Strateco officially filed an underground exploration licence application with the Canadian Nuclear Safety Commission (CNSC) on November 5, 2008.

In December 2008, Strateco held three days of preconsultation in Mistissini and Chibougamau to inform the public on the nature of the project and learn about its expectations and concerns. In October 2009, the massive environmental impact study was completed and sent to the relevant provincial and federal authorities. Public information sessions were held on May 25 and 26, 2010, in Mistissini and Chibougamau to present the study's conclusions to the public and the provincial and federal authorities. The CNSC, COFEX, COMEX and the Mistissini "Uranium Committee" subsequently sent Strateco over 200 questions about the study. Strateco finished responding to these questions in September 2010, and will provide further clarifications and information as required.

These public hearings are the final stage in the public review process surrounding the environmental impact study for the Matoush project underground exploration program. They will be followed by a public presentation on the technical aspects of the project, led by the CNSC. Should it obtain the licence, Strateco plans to begin the underground exploration program in the summer of 2011.

Matoush Uranium Project

The Matoush uranium project, today considered one of the highest-grade uranium projects in the world, was started by Strateco in 2006. It is located in Otish Mountains of Quebec, about 275 km north of Chibougamau. Strateco intends to become the first company in Quebec and the first so-called junior company in Canada, during the present cycle, to move ahead with a uranium exploration project involving underground exploration. Due to the tremendous potential of its Matoush project, Strateco is aiming for commercial production in 2013/2014.

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