The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Strateco Buys Back the 2% NSR Royalty on the Matoush Property

Thursday, December 20, 2012

Strateco Buys Back the 2% NSR Royalty on the Matoush Property13:01 EST Thursday, December 20, 2012BOUCHERVILLE, QUEBEC--(Marketwire - Dec. 20, 2012) - Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9) is pleased to announce that it completed the buyback today of the 2% NSR royalty on production from its Matoush property.Strateco paid Ditem Exploration Inc., the owner of the royalty, CA $1 million. In the current challenging financial context, this 2% buyback allows Strateco to consider non-equity modes of financing. Strateco owns 100% of the Matoush uranium property, located in the Otish Mountains of Quebec. The Matoush project is considered one of the highest-grade uranium projects in the world. The Matoush mineral resource update memorandum by Roscoe Postle Associates Inc. dated December 3, 2012, indicates that the project contains an estimated indicated resource of 586,000 tonnes grading 0.95% U3O8 containing 12.33 millions pounds of U3O8 and an estimated inferred resource of 1.69 million tonnes grading 0.44% U3O8 containing 16.44 million pounds of U3O8. This press release has been reviewed and approved by Jean-Pierre Lachance, Geo., Executive and Exploration Vice President of Strateco and a qualified person as defined in National Instrument 43-101. Mr. Lachance supervised the preparation of the information that forms the basis for the technical information and approved the information contained herein.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. Actual results and future events could differ significantly from those implied by such statements. These risks and uncertainties are discussed in the annual report filed with the securities commissions of British Colombia, Alberta, Ontario and Quebec.FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Strateco Resources Inc.Guy HebertPresident & Chief Executive Officer450.641.0775 / 1.866.774.7722450.641.1601 (FAX)ghebert@strateco.caStrateco Resources Inc.Jason RoyConsultant, Investor Relations647-780-2837 / 514-240-7662jroy@strateco.caStrateco Resources Inc.Jean-Pierre LachanceExecutive & Exploration Vice President450.641.0775 / 1.866.774.7722450.641.1601 (FAX)jplachance@strateco.cawww.strateco.ca