BOUCHERVILLE, QUEBEC--(Marketwire - Nov. 26, 2010) - Strateco
Resources Inc. ("Strateco")
(TSX:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) is pleased to announce that it
received strong support at public hearings held in Mistissini
and Chibougamau on November 23 and 25 in
relation to the underground exploration phase of the Matoush project. Nearly 50 people, organizations,
companies and local and regional authorities confirmed their support
for the project in letters, briefs and presentations.
One of the supporters who tabled a brief in favour
of the Matoush project was the Conference regionale des elus de la Baie-James ("CREBJ"), whose members
include Luc Ferland, the Member of National
Assembly for Ungava (Quebec), Manon Cyr,
mayor of Chibougamau and Steve Gamache, mayor of Chapais,
stressing the importance for Strateco to
obtain the Cree Nation of Mistissini's
support. The CREBJ represents the population of the James Bay
territory, meaning the more-than 14,000 residents of Chapais, Chibougamau, Lebel-sur-Quevillon and Matagami,
as well as the Municipality of James Bay, made up of the communities of
Radisson, Valcanton and Villebois.
The James Bay territory covers a surface area of 350,000 km(2).
Strateco also received the support of
tallymen and Cree families whose trap lines are located in the vicinity
of the Matoush project, in the Otish Mountains. The representative of the Coonishish family, whose trap line covers
infrastructures and ore body of the Matoush
project, has stated his support for the project during the public
hearing held in Chibougamau, on behalf of his
extended family. Their support is crucial to the development of the Matoush project, which lies on Category III lands.
The James Bay and Northern Quebec Agreement ("JBNQA") created
a territorial system under which Category III lands are "Quebec
public lands" where Aboriginal peoples "have exclusive rights
to the harvesting of certain aquatic species and fur-bearing
animals" (INAC, 2009).
At the public hearing in Mistissini, the
chief of the local community, Richard Shecapio,
indicated that the community does not support the Matoush
project. Strateco intends to develop and
deepen relations with the Mistissini Cree in
order to respond appropriately to their concerns and eventually secure
their support. The Grand Council of the Crees
did not formulate a position at the public hearings.
The Mistissini and Chibougamau
public hearings were a forum for the commissioners of the federal
review panel ("COFEX-South") and the provincial review panel
("COMEX") to assess differing views on the Matoush project. The hearings were the final stage
of the public review process for the environmental impact study on the
underground exploration phase of the Matoush
project. A public presentation on the technical aspects of the project,
led by the CNSC, will follow. Assuming it obtains a licence,
Strateco plans to begin its underground
exploration program in mid 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 and 210 km north-east of Mistissini. 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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