Strateco Resources Inc. reported earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net loss of $77,225,437 or $0.46 per share compared to $1,098,907 or $0.01 per share a year ago.

The company announced that it has had to recognize the impairment charge of $87,241,070 as at March 31, 2013, following the decision by Quebec's Minister of Sustainable Development, Environment, Wildlife and Parks, Yves-François Blanchet, not to issue the certificate of authorization for the Matoush uranium project until the Bureau d'audiences publiques sur l'environnement (the "BAPE") has submitted its report on Quebec's uranium industry. Strateco was obliged to impair the uranium properties, deferred exploration and evaluation expenditures and fixed assets associated with the Matoush project by over $87 million due to its inability to proceed with the Matoush project underground exploration program, the absence of significant exploration and evaluation expenditures planned for the coming year and the uncertainty surrounding Quebec's uranium industry.