|By Marketwired .||
|January 17, 2013 01:30 PM EST||
BOUCHERVILLE, QUEBEC -- (Marketwire) -- 01/17/13 -- Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT :RF9) announces that it has filed a motion for mandamus and declaratory judgement with the Quebec Superior Court. Among other things, the motion is intended to ensure that the Quebec ministry of sustainable development, environment, wildlife and parks (Ministere du Developpement durable, de l'Environnement, de la Faune et des Parcs, or "MDDEFP") comes to a decision on the authorization required for the execution of the Matoush underground exploration program.
Strateco initiated the provincial and federal permitting process in 2008 for execution of an advanced underground exploration program. This includes the excavation of an underground decline to explore a uranium deposit at the Matoush property in the Otish Mountains, located on Category III land of the territory covered by the James Bay and Northern Quebec Agreement.
In filing the motion, Strateco is seeking a decision from the MDDEFP minister, in accordance with Section 164 of the Environmental Quality Act.
Strateco has been awaiting the decision by the MDDEFP since August 2011, over 18 months, especially as it already has all the required authorizations from the other agencies involved in the process.
On February 2, 2012, the same day that the federal Ministry of the Environment approved the project, the Canadian Environmental Assessment Agency ("CEAA") and the federal administrator of the James Bay and Northern Quebec Agreement did the same.
On October 16, 2012, the Canadian Nuclear Safety Commission issued Strateco a five-year license for the project.
In August 2011, the Provincial Review Committee ("COMEX") recommended in its report that the MDDEFP approve the project.
In the motion for declaratory judgement, Strateco is asking the judge to declare null and void one of the conditions in the COMEX report which, in effect, delegates a provincial jurisdiction by requiring a written agreement be ratified with a third party concerning social acceptability.
"Since 2008, Strateco has engaged in a rigorous regulatory process and obtained all the authorizations required, except the one from the minister of sustainable development, environment, wildlife and parks. We have been awaiting this decision for 18 months, which warrants the extraordinary step we have taken today to protect our shareholders and our employees," said Guy Hebert, President and CEO, Strateco Resources Inc.
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.
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