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STRATECO RESOURCES INC.

TSX:

RSC

FRANKFURT:

RF9

OTC Bulletin Board:

SRSIF

Other Recent News

 

June 1, 2009

Strateco Resources Inc.: Drilling Resumes on Matoush

MONTREAL, QUEBEC--(Marketwire - June 1, 2009) - Strateco Resources Inc. ("Strateco") (TSX:RSC)(OTCBB:SRSIF)(FRANKFURT:RF9) is pleased to announce that drilling as part of the 30,000-metre exploration drilling program which started in February 2009, has resumed on the wholly-owned Matoush property.

The ongoing drilling campaign was halted temporarily on April 27th, 2009 for the spring break-up. Exploration drilling resumed on May 27th, 2009.

Drilling continues with one of two drills, in hole MT-09-11 which was interrupted at a depth of 180 metres and is located on the new MT-06 zone discovered in April 2009. The MT-06 zone is located on section 46+00S, 1.0 km south of the MT-34 core zone. Hole MT-09-006 returned an 8.9-metre intersection grading 0.21% eU3O8 including 1.1 metres at 0.96% eU3O8. This intersection is strongly altered in fuschite with the presence of pitchblende and uranophanes and is similar in size, grade and alteration to intersections near the MT-34 and MT-22 core zones (ref. press release April 22, 2009).

As for the second drill actually mobilized for geotechnical drilling as part of preliminary work for the underground drilling program, it will go back to exploration drilling in the first week of June 2009.

Before going back to the MT-06 zone, where the potential to find a new lens appears excellent, the drill will make a stop in the sector of the high grade MT-34 lens, where hole MT-08-34 had intersected 1.32% eU3O8 on 28.0 metres including 6.13% eU3O8 on 4.8 metres. Two strategic drill holes will be carried out in order to expand already delineated mineral resources.

On the MT-34 zone, indicated mineral resources are estimated to total 88,000 tonnes grading 0.97% U3O8 containing 1,890,000 pounds U3O8 and inferred resources are estimated to total 527,000 tonnes grading 0.55% U3O8 containing 6,350,000 pounds U3O8. These results come from the NI 43-101 resource estimate updated by Scott Wilson Roscoe Postle Associates in September 2008.

Strateco pursues aggressively its exploration activities in order to increase the mineral resources on the Matoush property. Furthermore, Strateco has the necessary liquidity to do so. Strateco recently received $7.8 M from the Quebec government in exploration credit and should receive amounts of more than $2.0 M in the upcoming months. The cash flow is presently more than $15.0 M for monthly expenses of $1.2 million.

Strateco's exploration activities are all concentrated in Quebec, considered to be amongst the most favourable region in the world for mine development, considering credits and the absence of political risks.

Licence and Environmental Impact Study

Following filling on November 4th, 2008, of the Licence Application to the Canadian Nuclear Safety Commission (CNSC) for the underground exploration program and following the comments received from the CNSC in February 2009, Strateco continues its detailed engineering plans and field work related to the environmental impact study.

Strateco is also proceeding, with the help of a number of consultants, including Genivar, Golder and Melis, to the preparation of detailed engineering plans for the surface facilities, underground work, health and safety programs, radiation protection and environmental protection in order to finalize the licence application.

Regarding the environmental impact study, Strateco received guidelines from the Evaluating Committee (COMEV), the Canadian Environmental Assessment Agency and from the CNSC in March 2009 pursuant to the filing of the Project Description in July 2008.

Strateco expects to have all the detailed plans and programs and the environmental impact study completed and filed with the various authorities by the end of the third quarter of 2009.

This news release has been approved by Jean-Pierre Lachance, Geo, Executive Vice President of Strateco Resources Inc. which is the qualified person as defined in National Instrument 43-101.

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 Alberta, British Columbia, Ontario and Quebec and in the 10-K annual report filed with the US Securities and Exchange Commission.

CAUTIONARY NOTE TO U.S. INVESTORS -The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from the SEC's website at
http://www.sec.gov/edgar.shtml.

 

CONTACT INFORMATION:

Strateco Resources Inc.
Guy Hebert
President and Chief Executive Officer
450-641-0775 / 1-866-774-7722
Fax: 450-641-1601
ghebert@bbhgm.com

or

Strateco Resources Inc.
Jean-Pierre Lachance
Executive Vice President
450-641-0775 / 1-866-774-7722
Fax: 450-641-1601
jplachance@bbhgm.com

or

Strateco Resources Inc.
Audrey Vezina Angus
Investor Relations
450-641-0775 / 1-866-774-7722
Fax: 450-641-1601
avezina@bbhgm.com
www.stratecoinc.com

INDUSTRY: Manufacturing and Production - Mining and Metals



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EXPLORATION STAGE
CODE : RSC.TO
ISIN : CA86269M1068
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Annual reports of Strateco Resources Inc.
2008 Annual report
2007 Annual report
2006 Annual report
Financings of Strateco Resources Inc.
8/12/2013Strateco Closes a CDN $ 820,000 Financing
8/12/2013Closes a CDN $ 820,000 Financing
2/29/2012Closes Two Private Placements
2/16/2012Strateco Announces Private Placement Financing
2/16/2012Strateco Announces Private Placement Financing
2/16/2012Announces Private Placement Financing
6/23/2011Strateco Closes a CA$3.5 Million Financing
6/23/2011Strateco Closes a CA$3.5 Million Financing
12/23/2010Strateco Closes a $13.0 Million Private Placement
Nominations of Strateco Resources Inc.
7/22/2013Strateco Appoints a New Director
7/22/2013Appoints a New Director
7/18/2011Strateco Appoints A New Chief Financial Officer and Treasure...
7/18/2011Strateco Appoints A New Chief Financial Officer and Treasure...
5/12/2010Appoints Vice President, Finance
3/23/2010Appointment of a New Director
Project news of Strateco Resources Inc.
1/29/2014Strateco Update: Exploration Work and Legal Proceedings
12/17/2013Strateco Enters Into an Agreement With Denison for the Jaspe...
9/23/2013(Matoush)The MDDEFP Minister Has All the Elements he Needs to Authori...
12/20/2012Strateco Buys Back the 2% NSR Royalty on the Matoush Propert...
12/7/2012Strateco: Significant Increase of 58% in the Indicated Resou...
11/1/2012(Matoush)Inc=2E/Matoush Project: Best Drill Result for 2012 2=2E62% U...
10/17/2012(Matoush)Inc=2E: The CNSC Grants the Licence for the Matoush Explorat...
6/9/2012(Matoush)Inc=2E/Public Hearings: The Licencing Process for the Matous...
5/29/2012Strateco's 2012 Drilling Program Yields More Excellent Resul...
4/23/2012Strateco's New 2012 Drilling Program Generating Excellent Re...
4/10/2012(Matoush)CNSC Staff Recommend a Five-Year Licence for the Matoush Ura...
2/17/2012(Matoush)Inc=2E: The Updated Technical Report for the Matoush Uranium...
2/3/2012(Matoush)Inc=2E: Matoush Uranium Exploration Project Gets the Green L...
11/29/2011Strateco Exercises Its Option and Acquires 60% of the Pacifi...
11/29/2011Strateco Exercises Its Option and Acquires 60% of the Pacifi...
8/2/2011(Matoush)Matoush Uranium Project: The Federal Review Panel South Rele...
7/14/2011(Matoush)-Matoush Project Underground Exploration Program: New Develo...
6/2/2011Strateco and Majescor Execute Joint VentureAgreement on the ...
6/2/2011Strateco and Majescor Execute Joint VentureAgreement on the ...
6/2/2011(Mistassini)and Majescor Execute Joint Venture Agreement on the Mistassi...
3/4/2011Strateco Confirms the Presence of High-Grade Mineralization ...
3/4/2011Strateco Confirms the Presence of High-Grade Mineralization ...
3/4/2011(Matoush)Confirms the Presence of High-Grade Mineralization Between t...
11/26/2010(Matoush)Recieves Strong Support at Public Hearings on the Matoush Ur...
1/13/2011(Matoush)Resumption of Drilling: Matoush/Mistassini/Pacific Bay-Matou...
10/27/2010(Matoush)Public Hearings to Be Held on the Environmental Impact Study...
2/24/2010(Matoush)Updated Scoping Study on Matoush Indicates Stronger Economic...
1/29/2010(Matoush)Matoush: Start of a Major Drilling Program
12/1/2009(Matoush)Ambitious Drilling Program on Matoush
11/12/2009(Matoush)Another Important Step Forward for Strateco's Matoush Uraniu...
9/17/2009(Matoush)Significant Increase in Indicated Resources and Grade at Mat...
7/27/2009(Matoush) Intersects 0=2E99% eU3O8 Over 30=2E6 Metres Including 5=2E9...
7/9/2009(Mistassini)Intersect 0,13% eU308 over 11,0 Metres at Mistassini
7/8/2009(Matoush)Intersects 0.61% eU3O8 Over 25.7 Metres at Matoush
6/4/2009(Mistassini)Strateco and Majescor Announce a Drilling Program on Mistass...
4/22/2009(Matoush)Strateco/Matoush: Discovery of Two New Mineralized Zones
2/11/2009(Matoush)MATOUSH: BEGINNING OF A 30,000-METRE DRILLING PROGRAM
12/19/2008(Matoush)Scoping Study Now Available
11/11/2008(Matoush)Scoping Study on Matoush Indicates Very Strong Economics
11/5/2008(Matoush)Licence Application for Underground Exploration Program at t...
9/23/2008(Matoush)Matoush: NI 43-101 Available on SEDAR
8/7/2008(Matoush)A 300% Increase of the Mineral Resources in 10 Months
6/9/2008(Matoush) More Great Drill Results for the MT-34 and MT-22
9/6/2007(Apple)COMPLETES ITS ACQUISITON OF THE APPLE URANIUM PROPERTY
Corporate news of Strateco Resources Inc.
12/23/2013Receives CDN $3 Million
10/29/2013Strateco Lifts Stay of Proceedings Against Minister Yves Fra...
10/29/2013Lifts Stay of Proceedings Against Minister Yves Francois Bla...
9/23/2013The MDDEFP Minister Has All the Elements he Needs to Authori...
8/1/2013The Court Rules on the Safeguard Order Sought by Strateco
8/1/2013The Court Rules on the Safeguard Order Sought by Strateco
6/25/2013Inc=2E: The Minister Will No Longer Wait for the Conclusions...
5/15/2013Strateco: $87 Million Impairment Charge from the MDDEFP Mini...
5/15/2013$87 Million Impairment Charge from the MDDEFP Minister's Dec...
4/22/2013Strateco Serves Government With Formal Notice
4/22/2013Serves Government With Formal Notice
3/28/2013Denounces the Government of Quebec's Decision
3/21/2013Restricts Its Petition to the Motion for Mandamus
3/6/2013Reacts Positively to Survey Results
2/19/2013Court Agrees to Strateco's Request for Special Case Manageme...
2/19/2013Court Agrees to Strateco's Request for Special Case Manageme...
2/8/2013Requests Special Case Management of its Motion for Mandamus ...
1/17/2013Strateco Files a Motion for Mandamus and Declaratory Judgeme...
1/17/2013Files a Motion for Mandamus and Declaratory Judgement With t...
12/20/2012Strateco Closes $3,000,000 Bridge Loan
12/20/2012Closes $3,000,000 Bridge Loan
12/7/2012(Matoush)Significant Increase of 58% in the Indicated Resource at the...
8/14/2012Strateco's President to Buy Shares in the Open Market
8/10/2012Acknowledges Cree Grand Council's Resolution and Intends to ...
6/12/2012Matoush Uranium Project: Strateco Drills 3.62% eU3O8 Over 8....
5/29/20122012 Drilling Program Yields More Excellent Results
4/23/2012New 2012 Drilling Program Generating Excellent Results
2/29/2012Strateco Closes Two Private Placements
2/29/2012Strateco Closes Two Private Placements
1/4/2012(Matoush)Inc=2E: Resource at the Matoush Uranium Project Rises Signif...
1/3/2012Strateco Announces a CA $3,000,000 Bridge Loan with SIDEX
1/3/2012Strateco Announces a CA $3,000,000 Bridge Loan with SIDEX
1/3/2012Announces a CA $3,000,000 Bridge Loan with SIDEX
12/23/2011Strateco Executes a Communication and Information Agreement ...
12/23/2011Executes a Communication and Information Agreement With the ...
11/29/2011(Pacific Bay)Exercises Its Option and Acquires 60% of the Pacific Bay-Mat...
8/2/2011Strateco's Matoush Uranium Project: The Canadian Nuclear Saf...
8/2/2011Strateco's Matoush Uranium Project: The Canadian Nuclear Saf...
8/2/2011Strateco's Matoush Uranium Project: The Federal Review Panel...
6/23/2011Closes a CA$3.5 Million Financing
3/15/2011Files Form 15F to Terminate Its Reporting Obligations in the...
12/23/2010The Sentient Group Exercises its Participation =?ISO-8859-1?...
11/29/2010Strateco Closes CA $4,000,000 Bridge Loan With SIDEX
11/29/2010Strateco Closes CA $4,000,000 Bridge Loan With SIDEX
11/9/2010Strateco Confirms a New Uranium Lens at Matoush
11/9/2010Confirms a New Uranium Lens at Matoush
10/27/2010Inc=2E: Public Hearings to Be Held on the Environmental Impa...
9/15/2010Strateco Announces a CA $2,500,000 Bridge Loan With SIDEX
5/28/2010Has Held Its 2010 Annual Meeting
12/8/2009Closes C$2.5 Million Financing
6/12/2009Nomination of a New Chief Financial Officer
6/1/2009Drilling Resumes on Matoush
2/17/2009Invitation
11/11/2008Retains Financial Advisor
10/1/2008 Closes C$8.0 Million Financing
11/26/2007ENTERS INTO AN AGREEMENT TO EARN 60% OF MAJESCOR'S MISTASSIN...
10/29/2007Options Pacific Bay Otish Uranium Claims
6/5/2007Graduation on TSX
3/22/2007ADOPTS A SHAREHOLDER RIGHTS PLAN
2/20/2007Matoush continues to deliver
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