|By Marketwired .||
|May 20, 2014 07:02 PM EDT||
BOUCHERVILLE, QUEBEC -- (Marketwired) -- 05/20/14 -- Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9) called upon the Bureau d'audiences publiques sur l'environnement ("BAPE") today to recuse Louis-Gilles Francoeur, the chair of the commission of inquiry into uranium industry issues.
"It is obvious to us that Mr. Francoeur has neither the neutrality nor the legitimacy needed to chair the commission's work. Mr. Francoeur's bias is clear from the repeated comments he made while working for the Le Devoir newspaper," said Guy Hebert, President and Chief Executive Officer of Strateco.
"Philippe Couillard's government has clearly indicated its intention to revive the Plan Nord, and it strikes us as crucial to rebuild Quebec's credibility by making sure to distance themselves from appointments former minister Daniel Breton made prior to he had to resign in embarrassment," Mr. Hebert added.
The pre-consultation phase of the BAPE commission's inquiry into uranium industry issues is scheduled to begin tonight in Montreal. The commission's planned one-year mandate will eat up a substantial portion of the agency's annual budget of over $5 million.
If the BAPE does not comply with Strateco's request, legal proceedings will be initiated in Superior Court to obtain Mr. Francoeur's recusal.
Meanwhile, Strateco wishes that the government puts an immediate end to the commission, both because it is pointless and because its mandate includes the territory of the James Bay and Northern Quebec agreement.
"Cancelling the commission would save the government hundreds of thousands of dollars if not millions. After investing more than $10 million in environmental studies and going through a series of public hearings, Strateco obtained the approvals and recommendations it needed from the Executive Committee, the FRP-S, the Canadian Nuclear Safety Commission and the Canadian Environmental Assessment Agency. Unlike the Menard commission, there is still time to put a halt to this commission and save Quebec taxpayers from another multimillion-dollar report arising from a biased political directive," Guy Hebert concluded.
Strateco has invested over $125 million in the Matoush project to date.
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 Strateco's annual information form filed with the securities commissions of British Colombia, Alberta, Ontario and Quebec.
Investors and analysts: STRATECO RESOURCES INC.
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