Strateco Executes a Communication and Information Agreement With the Cree Nation of Mistissini
BOUCHERVILLE, QUEBEC -- (Marketwire) -- 12/23/11 -- Strateco Resources Inc. ('Strateco') (TSX: RSC)(FRANKFURT: RF9) is pleased to announce that it has signed a Communication and Information Agreement (the 'agreement') with the Cree Nation of Mistissini ('Mistissini') for the communications process that will form the cornerstone of relations between Strateco and Mistissini during the Matoush uranium project advanced exploration program.
The agreement reflects the desire of the stakeholders to develop and implement a communications strategy that facilitates dialogue, so that the advanced exploration and development phase of the Matoush project unfolds in close collaboration and a spirit of partnership. The agreement covers a four-year period and is to be reviewed annually.
Various measures are foreseen to allow relevant and useful information regarding the Matoush project to be communicated, including additional data collected during the advanced exploration phase. These measures include undertakings by Strateco and Mistissini to create a committee exclusively devoted to dialogue and the exchange of information on the Matoush project. The agreement also covers the creation of the positions of liaison officer and community relations manager, which would be held by Crees. These positions will facilitate the exchange of information with the community of Mistissini and other stakeholders. The agreement also stipulates that Strateco, with the collaboration of Mistissini, will relocate its office in the community in an area granting an enhanced visibility to Strateco.
The agreement also encourages the creation of commu nication mechanisms to allow for the exchange and dissemination of information, and to promote the understanding of the issues and effects arising from the Matoush project. Strateco and Mistissini will retain an independent expert to carry out a study on water flow on surface and underground in the area of the Matoush project, in the direction of Lac Mistissini. The social acceptance of the project is crucial and requires, among other things, that a bond of trust be built between Strateco and Mistissini.
Finally, while the agreement reflects the Cree Nation of Mistissini's intention to receive additional information, among other things, from the advanced exploration activities, it cannot be considered as its support for the construction and operation phases of the mine for the Matoush Project.
About Strateco
Strateco is engaged in exploration and development of the Matoush Project, located about 210 km north-east of the Cree Nation of Mistissini, in the Otish Mountains of northern Quebec. The results obtained during the exploration activities carried out since 2006 support the affirmation that the Matoush project is now one of the highest-grade uranium projects in the world. Strateco aspires to become the first company in Quebec and the first so-called junior company in Canada in the present cycle, meaning in nearly 25 years, to advance a uranium exploration project involving underground exploration work.
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.
Contacts:
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 / 514-240-7662
450-641-1601 (FAX)
jroy@stratecoinc.com
www.stratecoinc.com