Strateco Resources Inc.
TSX : RSC
FRANKFURT : RF9

Strateco Resources Inc.

August 02, 2011 15:09 ET

Strateco's Matoush Uranium Project: The Canadian Nuclear Safety Commission Renders its Decisions

BOUCHERVILLE, QUEBEC--(Marketwire - Aug. 2, 2011) - Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9) is pleased to announce that the Canadian Nuclear Safety Commission ("CNSC") has rendered its decisions on the environmental impact statement ("EIS") for the Matoush project. These decisions are based on the Environmental Assessment Comprehensive Study Report ("CSR") regarding the underground exploration phase of the Matoush project. The CSR includes the environmental assessment report of the Federal Review Panel ("FRP-S") and an addendum from CNSC staff.

Among other things, the CNSC has concluded that "the project, taking into account the mitigation measures identified in the Environmental Assessment Screening Report, is not likely to cause significant adverse environmental effects" and decided to refer the CSR to the federal Minister of the Environment.

Once the federal Minister of the Environment receives the CSR on the underground exploration phase of the Matoush project, the report will also be made available to the public, who will have a period of 30 days to make comments. If, taking into account comments received from the public, the minister accepts the report's conclusions, the CNSC will hold a public hearing and render its decision regarding issuance of a licence for the advanced exploration phase of the Matoush project. The public will once again have an opportunity to speak at this hearing.

CNSC staff has acknowledged that the EIS prepared by Strateco for the underground exploration phase of its Matoush project "meets the requirements of the Provincial Administrator of the James Bay and Northern Quebec Agreement and the Canadian Environmental Assessment Agency, and that Aboriginal consultation activities had been integrated into the Environmental Assessment review process".

The CNSC decisions also take into account additional information provided by Strateco on July 22 in response to a request from FRP-S. In particular, this information highlighted the resumption of talks with Cree authorities, and various initiatives aimed at ensuring that the underground exploration phase is carried out in close collaboration with the Crees, in a spirit of partnership.

CNSC public notices can be found on its website at http://nuclearsafety.gc.ca. The FRP-S recommendation report, along with Strateco's studies in connection with the Matoush project underground exploration phase, can be found on the Canadian Environmental Assessment Agency's website, at www.ceaa-acee.gc.ca.

This news 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 British Columbia, Alberta, Ontario and Quebec.

Contact Information

  • Strateco Resources Inc.
    Guy Hebert
    President and Chief Executive Officer
    450-641-0775 or 1-866-774-7722
    450-641-1601 (FAX)
    ghebert@bbhgm.com

    Strateco Resources Inc.
    Jean-Pierre Lachance
    Executive and Exploration Vice President
    450-641-0775 or 1-866-774-7722
    450-641-1601 (FAX)
    jplachance@bbhgm.com

    Strateco Resources Inc.
    Jason Roy
    Consultant, Investor Relations
    647-780-2837 or 514-240-7662
    jroy@stratecoinc.com
    www.stratecoinc.com