Strateco Resources Inc.

Published : November 26th, 2007

ENTERS INTO AN AGREEMENT TO EARN 60% OF MAJESCOR'S MISTASSINI URANIUM ...

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STRATECO ENTERS INTO AN AGREEMENT TO EARN 60% OF MAJESCOR'S MISTASSINI URANIUM RIGHTS - DRILLING TO COMMENCE SHORTLY

2007-11-26 - Joint News Release

Montreal, QC - Majescor Resources Inc. ("Majescor") (TSX-V: MAJ) and Strateco Resources Inc. (TSX: RSC; U.S.: SRSIF; Frankfurt: RF9) ("Strateco") are pleased to report that an agreement in principle has been signed, whereby Strateco can earn a 60% interest in the uranium rights on Majescor's Mistassini Uranium Property, subject to the completion of a definitive option agreement and to the approval by regulatory authorities. Majescor currently owns 100% of the Uranium rights and Superior Diamonds Inc. ("Superior Diamonds ") owns 100% of the Diamond rights on the Mistassini property, which is located in the Otish Mountains of Quebec approximately 40 km south-west of Strateco's Matoush property.

The Mistassini property is host to the Lac Mantouchiche uranium prospect, discovered in 2002 by Majescor and partner Superior Diamonds, where the discovery hole (DDH MISF-02-08) intersected 0.20% U308 over 4.50 m. The drill program will attempt to define and extend the Lac Mantouchiche prospect. In order to protect prospective terrain in proximity to the Lac Mantouchiche prospect, the Mistassini property was recently expanded by an additional 231 map-designated cells and now covers 391 km2.

The proposed option agreement calls for Strateco to allow Majescor to contract Major Drilling's heliportable-drill rig, currently leased to Strateco, to drill the Lac Mantouchiche showing in November-December 2007 in return for Strateco securing a 30-day right-of-first-refusal (RFR) to enter into an option agreement with Majescor on the Property. The 30-day RFR period will commence upon Strateco's receipt of the drill results from Majescor.

Under the option agreement, Strateco can earn an undivided 60% interest in the uranium rights on the property by incurring an aggregate of $1.3 million in exploration expenditures over 3 years. Strateco agrees to reimburse Majescor for the cost of the drilling program (approx. $250,000) as well as incur an additional $250,000 in exploration expenses on the property in Year 1, for a total Year 1 firm commitment of $500,000. The remaining $800,000 in exploration expenses will be incurred equally in Year 2 and Year 3.

During the option period, Strateco will be the sole operator for all uranium exploration and will have full access to the property. Superior Diamonds will have access to the Property to conduct exploration for diamonds and will be the sole operator of all Diamond exploration. Superior Diamonds is entitled to a 2.0% Yellow Cake Royalty on the Property. The parties agree to finalize a formal Joint Venture agreement within 90 days of Strateco's election to option the Property.

The Lac Mantouchiche uranium prospect occurs within altered and fractured pegmatitic granite intruding a weakly foliated gabbro. The uranium mineralization is visibly associated with an oxidized yellowish mineral, probably carnotite, concentrated along fracture planes. Carnotite usually occurs in oxidized environments and thus the drill program will test the potential presence of pitchblende at depth in a more reduced environment. The mineralization appears to be structurally controlled, as does Strateco's high-grade Matoush project located to the northeast, on which a NI 43-101 mineral resource estimate of 4.1 million lbs of U3O8 was recently published (see Strateco press release, October 1, 2007).

This press release was approved by Mr. Zoran Madon, P.Geo., Majescor's Exploration Manager, and by Mr. Jean-Pierre Lachance, geologist and Executive Vice President of Strateco Resources Inc. both acting as the "Qualified Person" under National Instrument 43-101 .

For further information please call

STRATECO RESOURCES INC.

MAJESCOR RESOURCES INC.

Guy Hebert
President & CEO
ghebert@bbhgm.com

Maureen Doherty
Manager Corporate Communications
maureen@majescor.com

Jean-Pierre Lachance
Executive Vice President
jplachance@bbhgm.com

Todd Opalick
Capital Capital Inc.
todd@majescor.com

Alain Beland
Investor Relations
abeland@bbhgm.com

Marc-Andre Bernier
President & CEO
marc-andre@majescor.com

Tel : 450.641.0775
Fax : 450.641.1601
www.stratecoinc.com

Tel : 613.241.5333
Fax : 613.241.8632
www.majescor.com


THE TSX VENTURE EXCHANGE (TSX VENTURE) DOES NOT ACCEPT RESPONSIBILITY FOR ADEQUACY OR ACCURACY OF THIS RELEASE



STRATECO CONCLUT UNE ENTENTE LUI PERMETTANT D'OBTENIR 60 % DES DROITS SUR LA PROPRIÉTÉ URANIFÈRE MISTASSINI DE MAJESCOR LES FORAGES DOIVENT COMMENCER SOUS PEU

2007-11-26 - Communiqué de presse conjoint
Montréal, QC Ressources Majescor Inc. ( Majescor ) (TSX-V : MAJ) et Ressources Strateco Inc. (TSX : RSC; U.S.: SRSIF; Frankfurt: RF9) ( Strateco ) sont heureuses d'annoncer qu'elles ont signé une entente de principe en vertu de laquelle Strateco peut acquérir une participation de 60 % dans les droits sur l'uranium de la propriété Mistassini de Majescor, sous réserve de la conclusion d'une convention d'option définitive et de l'approbation des organismes de réglementation. Majescor possède présentement 100 % des droits sur l'uranium et Superior Diamonds Inc. ( Superior Diamonds ), 100 % des droits sur les diamants que renferment les propriétés de Mistassini situées dans les monts Otish au Québec approximativement 40 km au sud-ouest de la propriété Matoush de Strateco.

La propriété Mistassini est l'hôte de l'indice d'uranium du lac Mantouchiche découvert en 2002 par Majescor et son partenaire Superior Diamonds. Le forage à l'origine de la découverte (DDH MISF-02-08) a intersecté 0,20 % d'U3O8 sur 4,50 m. Le programme de forage tentera de définir et d'étendre l'indice du lac Mantouchiche. Afin de protéger les terrains à haut potentiel à proximité de l'indice du lac Mantouchiche, la propriété Mistassini a récemment été agrandie de 231 cellules désignées sur cartes et couvre maintenant 391 km2.

Selon la convention d'option proposée, Strateco permettra à Majescor d'utiliser par contrat l'équipement de forage héliporté de Major Drilling, lequel est utilisé présentement par Strateco, afin de forer l'indice du lac Mantouchiche en novembre et décembre 2007. En retour, Strateco obtient un droit de premier refus (DPR) de 30 jours pour conclure une convention d'option avec Majescor relativement à la propriété en question. La période de 30 jours du DPR commencera à la date où Strateco recevra les résultats de forages de Majescor.

Conformément à la convention d'option, Strateco pourra acquérir une participation indivise de 60 % des droits d'uranium de la propriété en effectuant des travaux d'exploration d'une valeur de 1,3 million $ sur trois ans. Strateco devra rembourser à Majescor le coût du programme de forage (environ 250 000 $) et devra réaliser pour 250 000 $ de travaux d'exploration sur la propriété au cours de l'année 1, soit un engagement total ferme de 500 000 $ pour la première année d'option. Le solde de 800 000 $ en dépenses d'exploration sera réparti également entre l'année 2 et l'année 3.

Pendant la période d'option, Strateco aura l'exclusivité de l'exploration pour l'uranium sur la propriété et disposera d'un accès illimité à celle-ci. Superior Diamonds aura accès à la propriété pour y faire de l'exploration de diamants et sera la seule partie autorisée à ce titre. Superior Diamonds a droit à des redevances de 2,0 % sur le yellow cake produit de la propriété. Les parties se sont engagées à signer la version définitive de la convention de coentreprise dans les 90 jours suivant la décision de Strateco d'exercer son option sur la propriété.

L'indice d'uranium du Lac Mantouchiche se trouve dans une pegmatite granitique altérée et fracturée au contact d'un gabbro faiblement folié. La minéralisation uranifère y est visiblement associée à un minéral jaunâtre d'aspect oxydé et concentré le long de plans de fractures. Ce minéral est probablement de la carnotite qui se forme habituellement dans des environnements chimiques oxydants. Ainsi, le programme de forage recherchera la présence potentielle de pechblende à une profondeur où l'environnement chimique était plus réducteur à l'instar du gîte à haute teneur de Matoush au nord-est à propos duquel Strateco a récemment publié un estimé de ressource minérale selon l'Instrument National 43-101 de 4,1 millions de livres U3O8 (voir le communiqué de presse de Strateco du 1er octobre 2007), la minéralisation de l'indice d'uranium du Lac Mantouchiche semble aussi contrôlée structuralement.

Ce communiqué de presse a été approuvé par le directeur de l'exploration de Ressources Majescor inc., monsieur Zoran Madon, P.Geo. et par monsieur Jean-Pierre Lachance, géologue et vice-président exécutif de Ressources Strateco inc., qui sont les personnes qualifiées telles que définies par l'Instrument National 43-101.

Pour obtenir plus d'informations, veuillez communiquer avec :

RESSOURCES STRATECO INC.

RESSOURCES MAJESCOR INC.

Guy Hebert

Maureen Doherty

Président et chef de la direction

Directrice des communications

ghebert@bbhgm.com

maureen@majescor.com

Jean-Pierre Lachance
Vice-président exécutif
jplachance@bbhgm.com
Alain Béland
Relations avec les investisseurs abeland@bbhgm.com
Tél: 450.641.0775
Fax: 450.641.1601
www.stratecoinc.com

Todd Opalick
Capital Capital Inc.
todd@majescor.com
Marc-André Bernier
Président et chef de la direction
marc-andre@majescor.com
Tél: 613.241.5333
Fax: 613.241.8632
www.majescor.com

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Strateco Resources Inc.

EXPLORATION STAGE
CODE : RSC.TO
ISIN : CA86269M1068
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Strateco Res. is a copper and lead exploration company based in Canada.

Strateco Res. holds various exploration projects in Canada.

Its main exploration properties are QUENONISCA, MISTASSINI, MONT-LAURIER, ECLAT, PACIFIC BAY, MATOUSH and APPLE in Canada.

Strateco Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 10.5 millions as of today (US$ 8.6 millions, € 7.6 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 4.00, and its lowest recent point on October 31, 2014 at CA$ 0.02.

Strateco Res. has 234 170 000 shares outstanding.

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