Strateco Resources Inc. announced that the indicated mineral resources at its Matoush property has doubled in the past 12 months to reach 436,000 tonnes grading 0.78% U3O8 containing 7.46 million pounds U3O8. The Matoush property lies 300 km north of Chibougamau in Quebec's Otish Mountains. At a cut-off grade of 0.10% U3O8, the indicated mineral resources are now estimated at 436,000 tonnes grading 0.78% U3O8 containing 7.46 million pounds U3O8, and the inferred mineral resources are estimated at 1.16 million tonnes grading 0.50% U3O8 containing 12.78 million pounds U3O8. These resources lie in the AM-15, MT-34 and MT-22 zones, and extend over a strike-length of 1.4 km. The Matoush structure has been traced 11 km to the south and 2.5 km to the north. The increase in the indicated resources from 3.73 million pounds grading 0.67% U3O8 (Scott Wilson RPA, Sept. 2008) to 7.46 million pounds at 0.78% U3O8 is significant. The indicated resources for the MT-34 zone, which lies in the upper part of the ACF-4 stratigraphic unit, is now estimated at 174,000 tonnes grading 0.89% U3O8 containing 3.42 million pounds U3O8. It should be noted that no indicated resources have yet been estimated for the MT-22 zone due to the current drill hole spacing, which is about 50 metres by 50 metres. This zone will be drilled at a tighter spacing during the underground exploration program. The company announced that it has increased its 2009 surface exploration program from 30,000 metres to 35,000 metres of drilling. The 2009 drilling program is ongoing, with two drills working on the property. One of these is assigned to systematic drilling on a 200-metre grid to locate new mineralized zones in the southern extension of the MT-34 zone, in the upper part of the ACF-4 stratigraphic unit. The two most recent holes confirmed mineralization to the south. Hole MT-09-035, drilled 1.0 km south of the edge of the current mineral resources, intersected the mineralized zone over 2.9 metres grading 0.12% eU3O8, lying characteristically at the contact of the Matoush fault. Hole MT-09-036 was drilled 200 metres further south from MT-09-035, and intersected a 4.7-metre section of mineralization grading 0.26% eU3O8. The second drill is presently carrying out a 2,000-metre program on the Pacific Bay property, adjacent to Matoush, where Strateco holds an option to acquire a 60% interest.

Pacific Bay Minerals Ltd. announced that Strateco Resources Inc. has commenced core drilling on the company's uranium claims in the Otish Mountains district of Quebec. The 2,000 meter program will focus on two key targets. The first target is 4KM north of Strateco's Matoush Deposit where a potential extension of the mineralized Matoush fault structure is indicated by airborne and ground geophysics. The second target lies 2.7 KM east of the Matoush Deposit, where re-interpretation of airborne and ground geophysics, as well as prospecting for radioactive boulder trains, indicates the potential for Matoush-Style uranium mineralization. Strateco can earn a 60% interest in the Company's Otish Mountains claims by spending $3 million, paying the company $500,000, 200,000 Strateco shares and other consideration, over four years. 2009 is the second year of the option agreement.

Strateco Resources Inc. reported unaudited earnings results for second quarter and six months ended June 30, 2009. For the quarter, the company reported net loss and comprehensive loss of CAD 236,613 or CAD 0.002 loss per share on interest income of CAD 12,046 compared to net loss and comprehensive loss of CAD 787,005 or CAD 0.007 loss per share on interest income of CAD 96,032 for the same period a year ago. Loss before income taxes was CAD 512,613 compared to loss before income taxes of CAD 995,005 for the same period a year ago. Cash out flow for operating activities of CAD 2,247,972 compared to cash out flow for operating activities of CAD 2,792,667 for the same period a year ago. Additions to property and equipment was CAD 122,537 compared to additions to property and equipment of CAD 38,022 for the same period a year ago. For six months period, the company reported net loss and comprehensive loss of CAD 694,723 or CAD 0.006 loss per share on interest income of CAD 43,402 compared to net loss and comprehensive loss of CAD 1,207,863 or CAD 0.011 loss per share on interest income of CAD 270,550 for the same period a year ago. Loss before income taxes was CAD 1,021,723 compared to loss before income taxes of CAD 1,507,863 for the same period a year ago. Cash out flow for operating activities was CAD 544,391 compared to cash outflow from operating activities of CAD 742,233 for the same period a year ago. Additions to property and equipment was CAD 255,814 compared to additions to property and equipment of CAD 578,722 for the same period a year ago.