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OMB Number: 3235-0070

Expires: July 31, 2011

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[ x ]	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended: September 30, 2009
For the quarterly period ended: March 31, 2010
[ ]	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934
For the transition period from _________________ to _________________ Commission File Number: 0-49942
STRATECO RESOURCES INC
(Exact name of issuer as specified in its charter)
Québec, Canada		00-0000000
(State or other jurisdiction of incorporation)		(IRS Employer Identification No.) or organization
1225, Gay-Lussac Street, Boucherville, Québec, Canada J4B 7K1, (450) 641-0775
(Address and telephone number of registrant’s principal executive offices and principal place of business)
(Former name, former address and former fiscal year, if changed since last report): N/A

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

[ X ] Yes

[ ] No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

[ ] Yes

[ X ] No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer [ ]

Accelerated filer [ X ]

Non-accelerated filer [ ] (Do not check if a smaller reporting company)

Smaller reporting company [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

[ ] Yes

[ X ] No

APPLICABLE ONLY TO ISSUERS INVOLVED IN ~~BANKRUPTCY~~ ~~PROCEEDINGS~~BANKRUPTCYPROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant filed all documents and reports required to be filed by Section l2, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.

[ ] Yes

[ X ] No

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APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:

~~119~~122,~~306~~695,~~432~~906 Common shares as of ~~November~~May 45, ~~2009~~ 2010

_____________________________________________________________________________________

PART I- FINANCIAL INFORMATION

Item 1 - Financial Statements

Pursuant to Regulation 13A Reports of issuers of securities registered pursuant to section 12, Reg. §240.13a-13 ( c ) (2) (i) (ii), the Company does not need to file Part 1 Financial Information for the period ending ~~September~~March 3031, ~~2009~~2010 for the following reasons:

a) The registrant is not in the production stage but is engaged primarily in the exploration for the development of mineral deposits other than oil, gas or coal; and

The registrant has not been in production during the current fiscal year or the two years immediately prior thereto; and

The registrant has not received any receipts from the sale of mineral products or from the operations of mineral producing properties since it does not sell mineral products nor conduct operations of mineral producing properties.

Item 4 - Controls and Procedures

Disclosure Controls and Procedures

The Company’s management, including the President and Chief Executive Officer, and the Chief Financial Officer, have conducted an evaluation regarding the effectiveness of disclosure controls and procedures (as defined in Rule 13a-15(e) or 240.15d-15(e) of the Securities and Exchange Act of 1934 as amended). As of the end of the period, covered by the report, based on the evaluation of these controls and procedures required by paragraph (b) of §240.13a-15 or §240.15d-15, the Chief Executive Officer and the Chief Financial Officer, concluded that the disclosure controls and procedures are effective.

Changes in Internal Control Over Financial Reporting

The Company’s management, including the President and Chief Executive Officer and the Chief Financial Officer, did not identify any change in the issuer’s internal control over financial reporting in connection with the evaluation required by paragraph (d) of §240.13a-15 or 240.15d-15 of this chapter, that occurred during the issuer’s third fiscal quarter, that has materially affected, or is reasonably likely to materially affect, the issuer’s internal control over financial reporting.

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PART II-OTHER INFORMATION

Forward-looking Statements

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Certain statements, including estimates, projections, statements relating to the business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934.

The Company intends such forward-looking statements to be covered by the Safe-Harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those Safe-Harbor provisions. The Company bases its Forward-looking statements on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially from the forward-looking statements. The management ability to predict results or the actual effect of plans or strategies is inherently uncertain. There can be no assurance that such statements will prove to be accurate. Factors that could cause future results, activities and events to differ materially from those expressed or implied by such forward-looking statements include the volatility of uranium prices, risks inherent in the mining industry, uncertainty in the estimation of mineral resources and additional financial requirements, as well as the Company’s ability to secure such financing.

Item 1A - Risk Factors- in Canadian Dollars

For the period between ~~July~~January 1, ~~2009~~2010 and March ~~September 30~~31, ~~2009~~2010, the Company does not have any material change to report from risk factors as previously reported in the Company’s Form 10-K for the fiscal year ended December 31, ~~2008 and Forms 10 Q for the, period ended March 31,~~ 2009 ~~and June 30, 2009~~. ~~However, the Company hereafter provides a summary of changes in financial instruments for the period:~~

~~Financial~~As ~~Instruments~~at March 31, 2010, the Company has a cash and equivalents balance of $12,363,918 ($321,065 as at December 31, 2009) to settle current liabilities of $5,824,863 ($1,854,116 as at December 31, 2009).

~~Interest~~Given ~~Risk~~the Company’s available liquid resources as compared to the timing of payments of the liabilities, management assesses the Company’s liquidity risk to be moderate. Management seeks additional financing through the issuance of new equity instruments to continue its operations, and while it has been successful in doing so in the past, there can be no assurance it will be able to do so in the future.

Part of the cash and cash equivalents bear interest at a fixed rate and the Company is, therefore, exposed to the risk of changes in fair value resulting from interest rate fluctuations. Interest rates 1% higher would have decreased the fair value of these by $866 as of September 30, 2009. The Company’s other financial assets and liabilities do not comprise any interest rate risk since they do not bear interest.

Market Risk

The Company is exposed to fluctuations in the uranium price, as the uranium price influences the potential economics of the Company’s properties and therefore has an effect on its exploration program and on the decision on whether or not to proceed with production.

Also, market risk is the risk that the fair value of, or future cash flows from, the Company’s financial instruments will significantly fluctuate because of changes in market prices. The Company is exposed to market risk in trading its investment in Pacific Bay Minerals Ltd, (Pacific Bay) a TSX Venture issuer whose activities are in the exploration field. As of September 30, 2009, a 10% decrease in the price on the stock market would result in an estimated increase in net after-tax loss of approximately $8,000. The fair value of the Pacific Bay investment is based on the last asking price at the end of the period.

Credit Risk

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The financial instruments which expose the Company to market risk and concentrations of credit risk include cash and cash equivalents, accounts receivable, deposits on exploration work, credit and accounts payable and accrued liabilities. The Company invests part of its cash and cash equivalents and exploration funds in guaranteed investment certificates guaranteed by and held with a Canadian chartered bank. Concerning the accounts receivable, the Company does not have any security, but mitigates its credit risk by only transacting with a diversified group of partners with strong financial conditions, and consequently does not anticipate any losses.

The Company does not have any debt or investments in asset-backed commercial paper.

Liquidity Risk- in Canadian Dollars

The Company manages its liquidity risk by using budgets that enable it to determine the amounts obtained from financing required to fund its exploration programs. The Company also ensures that it has sufficient working capital available to meet its short and long-term commitments.

As at September 30, 2009, the Company’s balance of cash and cash equivalents in the amount of $4,173,857 was sufficient to settle current liabilities of $1,699,043.

Given the Company’s available liquid resources as compared to the timing of payments of the liabilities, management assesses the Company’s liquidity risk to be low.

Fair Value

The fair value of accounts receivable and accounts payable and accrued liabilities approximate their carrying value due to their short term.

Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds – In Canadian dollars

Unregistered Sales of Equity Securities

~~The~~As ~~Company~~already ~~did~~fully ~~not~~detailed ~~have~~in ~~any~~Form ~~unregistered~~10-K for ~~sale~~the ofexercise ended December 31, 2009 in Part II, Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities ~~during~~at pages 59 and 60, the ~~period~~Company realised a private placement for a financing in the amount of $15M on January 27, 2010 in Québec, Canada, exempted from registration.

Pursuant to the flow-through placement of December 8, 2009 also fully detailed in Form 10-K for the exercise ended December 31, 2009 in Part II, Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities at page 59, as at March 31, 2010, the exploration work that had to be undertaken in the amount of $2,500,000 were incurred and paid.

Exploration and Use of Proceeds on Exploration- in Canadian dollars

~~Strategy and Plan of Action~~HIGHLIGHTS

The Company ~~plans~~had toa ~~sustain~~very, ~~and~~productive ~~accelerate~~first quarter ~~its~~this ~~efforts~~year. toOnce ~~achieve its objectives~~again, ~~these~~all ~~being~~the toefforts ~~increase~~of ~~the~~its ~~uranium~~seasoned ~~resource~~team were focused on ~~its~~the ~~wholly-owned~~progress ~~MATOUSH PROPERTY,~~ and todevelopment ~~become~~of the ~~first~~Matoush ~~company~~uranium inproject. ~~Quebec~~These ~~and~~efforts generated ~~first~~results, ~~so-called~~and ~~junior~~the ~~company~~Company inis ~~Canada~~now inhopeful ~~this~~that ~~cycle,~~it ~~meaning~~will inobtain ~~nearly~~the licence 25allowing ~~years,~~it to ~~advance~~begin aexcavating ~~uranium~~the exploration ~~project~~ramp toby the ~~underground~~fall ~~exploration stage~~of 2010.

To- do4 this, the Company is relying on an aggressive drilling program and a highly qualified team with an enhanced understanding of the MATOUSH PROJECT geology. The team is working hard to complete the studies, plans and programs required to obtain the permits and licence needed to advance the underground exploration project, and management remains confident that it will be in a position to begin underground exploration in the fall of 2010 once surface installation are completed.-

The year 2010 began with the closing of a $15 million financing on January 27, despite the difficulties in the financial markets. The private financing was subscribed by Sentient Executive GP III, Limited ("Sentient"), an independent equity fund that manages over US $1.3 billion in natural resource sector investments, acting for two funds from Cayman Islands. The Company continues to enjoy an excellent financial position, with working capital of $18 million at at March 31, 2010.

On January 13, the first phase of the largest surface drilling program yet began on the Matoush project, consisting of 120,000 metres of drilling over two years (2010-2011). Some 14,200 metres have already been drilled since the beginning of this first phase, with most of the holes drilled on a 200-metre spacing.

On March 3, Terraquest Ltd. (“Terraquest”) began flying a high-resolution electromagnetic (XDS-VLF EM) airborne survey. This advanced technology survey, which is aimed at testing the hypothesis of the presence of high-grade mineralized zones along a preferential north-south axis, was completed March 12. It covered the entire MATOUSH PROJECT, including the MATOUSH, MATOUSH EXTENSION, ECLAT and PACIFIC BAY-MATOUSH properties. The final interpretation of this survey will be performed over the coming weeks.

In the first quarter, the Company announced the update of the Preliminary Assessment for its MATOUSH PROPERTY. The scoping study update was prepared by Scott Wilson Roscoe Postle Associates Inc. (“Scott Wilson RPA”) with the participation of Melis Engineering Ltd. (“Melis”) for ore processing and SD Energy Associates Ltd. (“SD Energy”) for marketing and price determination. The update, which once again demonstrates the strong economics of the MATOUSH PROJECT, can be found on the Company’s website (www.stratecoinc.com) and on SEDAR (www.sedar.com).

Extensive engineering work was also done in the first quarter to prepare the underground exploration program that will begin in the fall of 2010, provided all the required permits have been obtained. The consultants retained by the Company, including Golder Associates (“Golder”) and SENES Consultants Limited (“SENES”), proceeded with their mandates, including the preparation of a property work memo, translation of reports and an application for an authorization certificate to expand the camp and the drinking and waste water treatment system.

In addition, with regard to the application filed on November 6, 2009, for a licence to begin excavating the exploration ramp, the Canadian Nuclear Safety Commission (“CNSC”) sent the Company a first set of questions in January 2010, to which various consultants are now responding. Work was also done on number of other files during the first quarter, including the construction of the landing strip, the four-season road and new buildings, and winter road maintenance.

Throughout the first quarter, the Company continued its efforts to maintain good community and investor relations, to inform the public on uranium-related issues and to respond to the public’s questions and concerns. The Company also met with various representatives of the Cree community and the towns of Chibougamau and Chapais to support and strengthen communications. The Company also organized information sessions to learn about community concerns.

Various authorities, including the Conférence régionale des élus de la Baie-James (“CREBJ”) and Learning Together, took the initiative of organizing information activities in the municipalities of Mistissini and Chibougamau-Chapais. This included a visit by four aboriginal chiefs from Saskatchewan, who shared their experiences of living in proximity to a uranium mine. All these initiatives are beneficial for the dissemination of information to the communities involved, and help support social acceptance of the Matoush uranium project.

the Company also uploaded the new version of its website, which is now more accessible, powerful and user-friendly.

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~~In addition, as of 2011, the Company plans to accelerate the mine construction permitting process by starting the environmental studies required for mill and tailing pond construction.~~ EXPLORATION

In terms of communications, the Company plans to maintain its privileged relations with the First Nations in Québec, Canada by continuing to hold meetings and information sessions. The Company also accords a high priority to public and investor information, knowing that information disclosure is essential to the success of the project. The Company has already taken the measures required to ensure that all project work and activities are part of an open, transparent process.

On an entirely separate front, management obtained an update of the resource estimate as of September 1, 2009, prepared by Scott Wilson Roscoe Postle Associates Inc. (“Scott Wilson RPA”). The estimate provides yet more evidence of the potential of the MATOUSH PROPERTY.

In just 12 months, the indicated mineral resource at the MATOUSH PROPERTY doubled to 436,000 tonnes grading 0.78% U3O8 containing 7.46 million pounds of U3O8. In addition, the inferred resource is estimated at 1.16 million tonnes at 0.50% U3O8 containing 12.78 million pounds of U3O8.

The MATOUSH PROPERTY is without doubt a substantial deposit. In fact, the average grade of the Matoush mineralization is one of the highest in the world. The Otish Mountains area in Québec, Canada is on its way to becoming a major uranium exploration camp, with the MATOUSH PROPERTY at its heart.

In 2006, management’s objective was to outline 15 to 20 million pounds of U3O8 to justify commercial production of 2 million pounds of U3O8 per year for 8 to 10 years. With the latest resource estimate and drilling now underway which could likely exceed 120,000 metres over the next two years, management now has a much more ambitious goal, which is to outline 60 million pounds of U3O8 for a minimum potential production of 4 million pounds of U3O8 per year. The final mill production capacity will, however, only be determined on the basis of the resource defined in 2011.

Meanwhile, drilling continued at a steady pace in the third quarter, on the MATOUSH PROJECT, and more specifically, on the MATOUSH PROPERTY itself. The success achieved to date fully supports management’s decision to increase its 2009 surface exploration program from 30,000 metres to 35,000 metres. The same thinking has led the Company to plan drilling programs of 60,000 metres per year for 2010 and 2011, to be carried out in parallel with underground exploration.

The emphasis on drilling is all the more warranted as the Company is eligible for exploration tax credits in the province of Québec, in Canada, equal to about 50% of its surface exploration expenses, until such time as it achieves commercial producer status.

The engineering and other work required for the application for a licence from the Canadian Nuclear Safety Commission for underground exploration work is still underway. All the detailed programs and plans, as well as the environmental impact study, will be filed with the various authorities by early November 2009. The scoping study will also be updated in the coming months.

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Exploration Activities

The technical data in the following text is based on a report entitled: Technical Report on the Mineral Resources Update for the Matoush Uranium Project Central Quebec, Canada, dated September 16, 2008, prepared in accordance with National Instrument 43-101 respecting standards of disclosure for mineral projects (“NI 43-101”). This data has been reviewed by the authors of the report, David A. Ross, M. Sc. P. Geo. and R. Barry Cook, P. Eng. of Scott Wilson RPA. The Matoush Mineral Resources Update dated September 18, 2009 has been prepared and reviewed by David A. Ross, M. Sc. P. Geo. of Scott Wilson RPA and is available on the Company’s website at www.stratecoinc.com. The technical data based on recent information has been reviewed by Jean-Pierre Lachance, Executive Vice President of the Company. All three are qualified persons as defined in NI 43-101.

In the following text, covering in details exploration works on the Company’s properties during the period, the letter “e” in “eU₃O₈” represents the estimated or equivalent value of U₃O₈ as determined by down-hole calibrated geophysical probing.

Further technical information relating to exploration work on the MATOUSH PROJECT, namely:

(i)

The “eU₃O₈” and “CPS” nomenclatures;

(ii)

Exploration program analysis methods;

(iii)

Sampling techniques;

(iv)

Quality controls for the results obtained by the gamma probe; and

(v)

Laboratory chemical analyses,

is available on the Company’s website at www.stratecoinc.com in the ~~Investors~~This technical -description ~~About~~can ~~Strateco~~also be found in the Quality Assurance and Quality Control-QA/QC section of the Company’s website, at www.stratecoinc.com and in Form 10K for the fiscal year ended December 31, ~~2008~~2009, Item 2 Properties- Summary of uranium exploration analytical procedures and Note 1 entitled: “Detailed Uranium exploration analytical procedures.”

For the definition of “mineral resources”, please refer to Form ~~10K~~10-K for the fiscal year ended December 31, ~~2008~~2009, Item 2: Properties-MATOUSH PROJECT A.1. MATOUSH PROPERTY - ~~NEW~~ TECHNICAL REPORT.

Cautionary Note to U.S. Investors concerning estimates of Indicated Resources. This section uses the ~~term~~terms “indicated resources”. We advise U.S. investors that while ~~this~~those ~~term~~terms isare recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize itthem. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.

Cautionary Note to U.S. Investors concerning estimates of Inferred Resources. This section uses the term “inferred resources”. We advise U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.

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At March 31, 2010, a total of 14,189 metres had been drilled on the MATOUSH PROJECT (covering the MATOUSH, MATOUSH EXTENSION, ECLAT and PACIFIC BAY-MATOUSH properties), as follows: 11,621 metres in 19 holes on the ECLAT property, and 2,568 metres in four holes on the MATOUSH PROJECT. No holes were drilled on the MATOUSH-EXTENSION and PACIFIC BAY-MATOUSH properties. In total, 174,405 metres (401 holes) have been drilled on the MATOUSH PROJECT since exploration began in 2006.

The Company did not conduct exploration on the Apple, Mistassini, Quénonisca or Mont-Laurier Uranium properties in the first quarter of 2010. It continued to focus its efforts on the exploration and development of the MATOUSH PROJECT.

At the beginning of 2010, the Company began an ambitious 60,000-metre drilling program on the MATOUSH PROJECT as a whole, aimed at identifying new mineralized zones. Work started with one drill in operation, to which a second was added on January 27 and a third on February 13.

Phase 1 of the program, which started on January 14 and will continue until the summer, consists of drilling on a systematic 200-metre spacing. Drilling will focus on the upper part of the ACF-4, which hosts the MT-22 and MT-34 zones.

The Company’s objective during this first phase is to extend as far as possible south of the ECLAT property, to the adjacent Cameco Corporation property.

On March 3, Terraquest began flying a high-resolution electromagnetic (XDS-VLF EM) airborne survey. This advanced technology survey, which is aimed at testing the hypothesis of the presence of high-grade mineralized zones along a preferential north-south axis, was completed on March 12. It covered the entire MATOUSH PROJECT, including the MATOUSH, MATOUSH EXTENSION, ECLAT and PACIFIC BAY-MATOUSH properties, for a total of 1,754 linear-kilometres. Mobilization and demobilization costs were shared with a neighbouring mining company.

The preliminary raw survey data showed various anomalies that could be interpreted as faults that are sub-parallel to and/or convergent with the Matoush fault. The final interpretation, which will be done by MPH Consulting following filtering by Terraquest, in combination with data from the previous high-resolution magnetometer survey, will allow the positive anomalies to be clearly distinguished from the negative anomalies.

The objective of this survey is to outline the linear geophysical anomalies representing the Matoush-type faults that could also prove to host large mineralized zones. The final interpretation should generate high-quality drill targets.

MATOUSH PROPERTY

The holes in the southern extension of the known mineralized zones were drilled to test the potential of the strongly anomalous areas identified at the end of the 2009 program, specifically the MT-09-036 (0.48% U₃O₈ over 4.2 m) and MT-09-035 (0.19% U₃O₈ over 1.4 m) areas located 1.4 km south of the MT-34 zone.

The three holes drilled in this area (MT-10-001 to 003) did not return any notable intersections despite the alteration present in the holes.

The fourth hole, MT-10-004, drilled about 1.0 km farther south (area of Hole MT-09-041(0.06% U₃O₈ over 0.8 m), returned better results, with an intersection of 0.17% eU₃O₈ over 0.8 m.

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~~In the third quarter of 2009, drilling continued steadily on the MATOUSH PROJECT, particularly on the MATOUSH~~ ECLAT PROPERTY, with two drills in operation. One drill (1419) was dedicated to definition drilling on the MT-34 zone to improve data quality in preparation for a new resource estimate. The second drill (1420) was essentially used for exploration drilling on the southern extension of the MT-34 zone (widely-spaced holes).

~~When~~Holes ~~definition~~drilled ~~drilling~~on ~~ended~~a insystematic ~~late~~200-metre spacing ~~August, Drill 1419 was assigned to exploration drilling~~ on the ECLAT ~~NORD~~property ~~PROPERTY~~covered ~~(adjacent~~a todistance ~~MATOUSH~~of ~~PROPERTY~~about to4.0 ~~the~~km ~~North)~~starting asfrom Section ~~well as the PACIFIC BAY-MATOUSH PROPERTY, where the Company has an option to earn a 60% interest~~68+00S.

InThe ~~all,~~Matoush ~~14,324~~fault ~~metres~~was ~~were~~intersected ~~drilled~~ in each of the ~~third~~holes, ~~quarter~~thereby ofconfirming ~~2009~~its oncontinued ~~the~~presence. ~~MATOUSH~~With ~~PROJECT,~~the ~~distributed~~exception asof Hole ~~follows:~~EC-10-002 ~~MATOUSH~~located ~~PROPERTY:~~on ~~11,831~~Section ~~metres~~70+75S, ~~including~~about ~~6,100~~3.4 ~~metres~~km ofsouth ~~definition drilling~~ of the MT-34 zone;, ~~ECLAT~~which ~~NORD~~intersected ~~PROPERTY:~~0.67% ~~471~~U3O8 ~~metres;~~over 1.2 ~~PACIFIC~~m, ~~BAY-MATOUSH~~there ~~PROPERTY:~~were ~~2,022~~no ~~metres~~significant mineralized intersections.

The ~~closely-spaced~~ holes drilled on ~~the~~a MT200-34m ~~zone~~spacing identified ~~returned~~one ~~good~~area ~~results~~of ~~overall~~interest more than one kilometre long, ~~confirming~~between sections 75+00S and ~~increasing~~87+00S. ~~confidence~~This inarea ~~the~~is ~~geological~~primarily ~~continuity~~interesting ~~and~~due ~~high~~to ~~grades~~the intensity of the alteration, as ~~can~~well beas ~~seen~~the bypresence ~~the~~of ~~increase~~dikes inrunning parallel to the ~~indicated~~Matoush fault. ~~resource~~The ~~and~~data ~~grades~~from inseven holes (EC-10-004 to EC-10-010) indicates that the ~~new~~structural ~~September~~setting ~~2009~~is ~~mineral~~characterized ~~resource~~by ~~estimate.~~a series of 2 to 4 sub-parallel deformation corridors (DC) marked by the presence of mafic dikes.

~~Hole~~To ~~MT-09-22~~summarize, ~~returned~~to the ~~best~~north ~~result~~ of ~~definition drilling on~~ the ~~MT-34 zone~~75+00S line, ~~confirming~~a ~~high~~single ~~grades~~DC ~~over~~can ~~substantial~~be ~~thicknesses~~seen, ~~for~~corresponding to the ~~MT-34~~Matoush ~~zone~~fault, ~~extension.~~while ~~This~~in ~~hole~~the area ~~intersected~~between ~~0.92%~~sections ~~U3O8~~77+00S ~~over~~and ~~32.2 metres~~84+00S, ~~including~~drilling ~~6.24% U3O8~~indicates ~~over~~the ~~4.5~~presence ~~metres.~~of three ~~Obtained~~to ~~last~~four ~~July~~DCs, ~~these~~the ~~results~~Matoush ~~were~~fault ~~all~~being the ~~more~~most ~~exciting~~westerly. asThe ~~the~~interest ~~pierce~~of this ~~point~~area ~~lay~~is ~~outside~~characterized by the ~~resources~~presence ~~estimated~~of byfuschite/tourmaline ~~Scott~~alteration halos ~~Wilson~~with ~~Postle~~a ~~Associates~~true ~~Inc.~~thickness ~~(“Scott~~of ~~Wilson~~200 ~~RPA”)~~to in250 ~~September~~metres, ~~2008~~which is very significant.

~~The~~This ~~results~~alteration ~~for~~footprint ~~the~~is 12not ~~exploration~~seen anywhere ~~holes~~else ~~drilled~~on to the ~~south~~project. ofThe ~~the~~alteration ~~AM-15~~present ~~zone~~ in ~~the~~this ~~ACF-3~~area, ~~and~~which ~~south~~is typical of ~~the~~that ~~MT-34 zone in the upper ACF-4 confirmed the new-zone discovery potential. Of the three holes drilled approximately 400 metres south~~ of the AM-15, ~~zone in the ACF-3 (~~MT-~~09-30,~~22 ~~31,~~and ~~32), hole~~ MT-~~09-30~~34 ~~proved the most encouraging~~zones, attests ~~with~~to ~~a mineralized intersection of 3.7 metres grading 0.34% eU3O8. The nine holes drilled in~~ the ~~ACF-4~~potential ~~over~~for ~~a distance of 1,800 metres along strike, relatively loosely spaced at about 200 metres, all intersected~~ the ~~Matoush~~discovery ~~fault and an alteration halo typical~~ of ~~the~~new ~~one around the~~ mineralized zones. The three last holes (MT-09-35 to 38), drilled in virgin ground, proved the most interesting, with intersections of 0.12 % eU3O8 over 2.9 metres in hole MT-09-35 and 0.26% eU3O8 over 4.7 metres in hole MT-09-36.

The three holes drilled on the ECLAT NORD PROPERTY returned mixed results, and the seven holes drilled on the PACIFIC BAY-MATOUSH PROPERTY were inconclusive. Holes ECN-09-01, 02, 03, drilled on a 150-metre grid on the ECLAT NORD PROPERTY about 1.5 km north of the AM-15 zone, intersected the Matoush fault but no mineralization despite strong alteration was found. On the PACIFIC BAY-MATOUSH PROPERTY, four holes were drilled to trace the Matoush fault, which becomes diffuse north of the ECLAT NORD PROPERTY. No remarkable structures were identified. Three holes were drilled to test a linear geophysical anomaly on the “Rabbit Ears” area; about 3 km east of the AM-15 zone, but failed to locate any structures of note.ASSESSMENT

~~The~~SCOPING NI 43-101 resource estimate for the MATOUSH uranium PROJECT was updated by Scott Wilson RPA on September 18, 2009 using the drill hole data available as of September 1, 2009, and similar methods to those used in the previous resource estimate (Scott Wilson RPA, Sept. 2008).STUDY

During the quarter, the update of the Preliminary Assessment of the Matoush property was completed. The scoping study prepared by Scott Wilson RPA, with the participation of Melis for ore processing and SD Energy for marketing and price determination, once again shows the strong economics of the MATOUSH PROJECT.

The scoping study is based on the NI 43-101-compliant indicated and inferred resources estimated by Scott Wilson RPA in September 2009. The Scoping Study results have been fully disclosed in Form 10-K for the exercise ended December 31, 2009 at Item 2-Properties in section REVISION OF PRELIMINARY ASSESSMENT, FEBRUARY 2010 at pages 28 to 30.

The full report update can be found on the Company’s website (www.stratecoinc.com) and on SEDAR (www.sedar.com).

The Preliminary Assessment is based in part on inferred mineral resources, and is by definition preliminary in nature. Inferred resources are considered too speculative geologically to have economic considerations applied to them and to be categorized as Mineral Reserves. There is no certainty that the Preliminary Assessment will be realized.

ENGINEERING, PERMITS AND LICENCES

In the first quarter, the operations and engineering department pursued its activities to prepare the underground exploration program set to begin once the Company has obtained the required permits.

The consultants retained by the Company made progress on a number of fronts. Golder undertook the preparation of a technical memorandum on field work performed at the end of the summer of 2009. The

- 8 -

~~This~~memorandum ~~estimation~~includes ~~has~~data ~~conclusively~~on ~~proved~~surface awater quality, ~~significant~~benthos ~~increase~~(group inof ~~the~~aquatic ~~Matoush~~organisms ~~indicated~~living ~~resource~~on ~~and~~the ~~grade.~~lake Atbed) and a number ~~cut-off grade~~ of ~~0.10%~~corrections ~~U3O8,~~to the ~~indicated~~impact ~~mineral resource is estimated at 436,000 tonnes grading 0~~study.~~78% U3O8~~ ~~containing~~The ~~7.46~~technical ~~million~~memorandum ~~pounds~~(Addenda A ~~of U3O8. In addition~~ to the ~~indicated~~limited ~~mineral~~environmental ~~resource,~~impact ~~there~~assessment isfor anthe ~~inferred~~Matoush ~~mineral~~underground exploration ~~resource~~project) ofwas ~~1.16~~filed ~~million~~on ~~tonnes~~March ~~grading~~2, 02010.~~50 %~~ ~~U3O8~~Golder ~~containing~~also ~~12.78 million~~reviewed ~~pounds~~the translation of ~~U3O8. These mineral resources are contained in~~ the ~~AM-15,~~preliminary ~~MT-34~~impact ~~and~~study ~~MT-22 zones, on a 1.4 km stretch along strike. The Matoush structure has been traced over a distance~~ that ~~extends~~they 11helped ~~km farther south and 2~~prepare.5 ~~km farther north.~~

~~The~~GENIVAR ~~increase~~completed inan ~~indicated~~application ~~resource~~for ~~from~~a certificate ~~3.73~~of ~~million~~authorizaiton ~~pounds~~for ~~grading~~the ~~0.67%~~expansion ~~U3O8~~of ~~(Scott~~the ~~Wilson~~camp ~~RPA,~~and ~~Sept.~~the ~~2008)~~waste toand drinking ~~7.46~~water ~~million~~treatment ~~pounds grading 0~~system.~~78%~~ ~~U3O8 is significant.~~ The ~~indicated~~application ~~resource~~was ~~for~~filed ~~the~~in ~~MT-34~~January ~~zone,~~2010 ~~located in~~ at the ~~upper~~regional ~~portion~~office of the ~~ACF-4,~~Ministry isof ~~now~~Sustainable ~~estimated at 174~~Development,~~000~~ ~~tonnes~~Environment ~~grading~~and Parks ~~0.89%~~(“MSDEP”) ~~U3O8~~in ~~containing 3~~Rouyn-Noranda.42 ~~million~~Additional ~~pounds~~information oflater ~~U3O8.~~requested Itby ~~should be noted that~~ the MSDEP ~~MT-22~~was ~~zone~~provided, onand the ~~other~~file ~~hand,~~is ~~still~~now ~~does not contain any indicated resource, having been drilled on a grid of about 50 metres by 50 metres~~complete. ~~This zone will be drilled on a tighter grid during the underground exploration program. No mineral reserve has yet been estimated for the MATOUSH PROJECT.~~

~~The~~Finally, ~~following~~in ~~table~~terms ~~shows~~of the ~~new~~consultants ~~mineral~~work, SENES ~~resource~~finalized ~~update~~the astranslation ofin ~~September~~French 1,as ~~2009,~~required ~~which~~by ~~confirms~~the ~~that~~regulations ~~MATOUSH~~in Quebec, ~~PROJECT~~Canada isof athe ~~large~~study ~~deposit,~~sections ~~with~~on ~~relatively~~air ~~low~~quality ~~sensitivity~~and risk to ~~cut-off~~the ~~grades~~ecology ofand human ~~between~~health, ~~0.05%~~in January and ~~0.2%~~February ~~U3O8~~2010.

Table 1 – Matoush Mineral Resource Estimate – September 1, 2009
	Tonnes	Grade	Pounds U3O8
	(x 1,000)	(% U3O8)	(x 1,000)
Indicated
AM-15	262	0.70	4,039
MT-34	174	0.89	3,420
Total Indicated	436	0.78	7,458
Inferred
AM-15	33	0.34	249
MT-22	822	0.53	9,526
MT-34	302	0.45	3,003
Total Inferred	1,157	0.50	12,777

In February 2010, the Company filed the French version of the environmental impact study for the Matoush uranium project underground exploration program at the MSDEP (provincial) and at the Canadian Environmental Assessment Agency (CEAA) (federal).

~~Notes:~~In January 2010, the CNSC issued an initial set of questions and comments on the application filed on November 6, 2009, for a licence to begin excavating the exploration ramp. Various consultants were assigned to prepare a prompt response to the questions.

1A guideline request was sent to the environmental assessments office of the MSDEP for the preparation of a preliminary impact study on exploitation of borrow pits with a surface area greater than 3 ha or located near water bodies. The authorization certificates for exploitation of borrow pits with a surface area of less than 3 ha and located more than 75 m from a water body was received in March 2010.

~~CIM~~For ~~Definitions~~the ~~were~~four-season ~~used~~road, the Company sent a letter to deputy ministers of the MSDEP and the Ministry of Natural Resources and Wildlife (“MRNF”) to inform them of certain changes made following a meeting with representatives of the Quebec transport ministry (“MTQ”) and various other participants. In fact, the Company decided to withdraw its authorization request for ~~classification~~the construction of ~~mineral~~a ~~resources~~four-season road along the winter road route within the park (km 0 to km 73.5). It was agreed that within the future national park, the MTQ’s route would follow the route of the old winter road. However, the Company maintained its request for a certificate of authorization for the construction of the four-season road on the section of road lying between km 73.5 and 130, which is outside the park.

2The winter road was also maintained from the time it opened on February 10 until it closed on March 15. All the planned and necessary transports took place, despite abnormally mild winter temperatures.

The ~~cut-off~~Company ~~grade~~also installed a number of 0new temporary structures on site to meet the needs of the exploration program.~~10%~~ ~~U3O8~~These buildings included three mega domes, two dormitory trailers and one office trailer. A new, higher-capacity generator was ~~estimated~~also ~~using~~added ato ~~price~~meet offuture requirements USin ~~$75/lb~~2010, and ~~assumed~~an ~~operating~~overhead ~~costs~~power line was installed to provide power to the temporary structures.

3The contract for the construction of the landing strip and the access road was granted to Carsa Enterprises Inc., a contractor involved with the Cree community from Mistissini. Construction of the landing strip access road began in the first quarter, and everything should be completed in the third quarter of 2010.

~~High~~In ~~U3O8~~the ~~grades~~first ~~were~~quarter, ~~cut~~the toCompany 9%required the services of 10 new workersfrom a management company.. As at March 31, the team consisted of 38 workers , including 19 at the Matoush camp and 19 at the head office.

The mineral resource estimate uses drill hole data available as of September 1, 2009.

Mineral resources are not mineral reserves and do not have demonstrated economic viability.

Totals may not sum correctly due to rounding.

Permits and Licence

In the third quarter, the Company advanced the work underway for the permits required for the underground exploration program. Considerable progress was made in environmental studies and health and safety program development.

- 9 -

~~The~~COMMUNITY ~~environmental~~AND ~~work~~INVESTOR ~~done~~COMMUNICATIONS by Golder Associates Ltd. (“Golder”) continued, with the preparation of baseline assessments for most of the study components, including hydrogeology based on the field rock mechanics results, surface water and sediment quality, hydrology and wildlife. Activities for the quarter also included the preparation and issuance of the geochemistry and rehabilitation reports and the environmental emergency response plan. Golder also continued to draft the section of the environmental impact study on the physical and biological components collected on site by Golder.

~~Meanwhile,~~In ~~SENES~~the ~~Consultants~~first ~~Ltd.~~quarter, ~~completed~~the ~~analysis~~Company ~~and~~continued to ~~drafting~~take of the ~~risk~~steps ~~study~~required ~~(ecological,~~to ~~human~~establish ~~health~~ and ~~industrial~~maintain ~~risk)~~good ~~and~~relations ~~filed~~with the First ~~preliminary~~Nations ~~report~~and onJames ~~the~~Bay ~~ecological~~residents and ~~human~~to ~~health~~ensure ~~risks~~that inall ~~September for review. The drafting of~~ the ~~baseline~~work ~~assessment for air quality, the climate~~ and activities ~~radiometry~~performed ~~continued~~in ~~during~~relation ~~the~~to ~~quarter, and~~ the ~~final~~MATOUSH ~~report~~PROJECT onremained ~~air~~part ~~quality~~of an open and ~~climate~~transparent ~~was completed in early October~~process.

The ~~field~~Company ~~work~~also ~~carried~~took ~~out~~number byof ~~Golder~~initiatives to ~~from~~support ~~July~~and tostrengthen ~~September~~its ~~2009~~relations ~~was~~with ~~part~~the municipalities of Mistissini, Chibougamau and Chapais. It opened offices in Mistissini and Chibougamau, created the ~~summer~~position ~~program~~of director of ~~surface~~community ~~water~~relations and ~~sediments~~appointed ~~sampling~~a liaison officer from the Cree community to provide a direct link between the Company and the ~~geotechnical~~residents ~~drilling~~involved ofand offer residents local access to information on the various ~~crown~~issues ~~pillar~~related to the MATOUSH PROJECT. The Company also organized information sessions to learn about community concerns.

~~The~~In ~~crown~~the ~~pillar~~first ~~geotechnical~~quarter, ~~study~~the ~~has~~Company ~~been~~continued to ~~completed~~promote the development of harmonious relations with the Mistissini Cree community. Two meetings were held in February, one with the Coonishish family and another with the ~~final~~chief ~~report~~of ~~has~~the ~~been~~Cree ~~received~~Nation of Mistissini, to inform them of the latest development on the MATOUSH PROJECT, and reaffirm the Company’s desire to maintain good relations with the community.

In ~~the~~addition, ~~third~~various ~~quarter~~authorities, including the ~~Company~~CREBJ ~~received~~and ~~some~~Learning ofTogether, took the ~~permits~~initiative ~~required~~of ~~for~~organizing ~~project~~information activities ~~development,~~in ~~such as~~ the ~~land~~municipalities ~~usage~~of ~~rights~~Mistissini ~~for~~and ~~the~~Chibougamau-Chapais. ~~landing~~The Company ~~strip~~encourages ~~and~~this ~~related~~type ~~access~~of ~~road~~activity, as ~~well~~it asleads ~~the access roads~~ to ~~some~~a better understanding of the ~~borrow~~issues ~~pits.~~surrounding ~~Timber~~uranium ~~cutting~~exploration ~~rights~~and ~~were~~mining, ~~also~~among ~~granted~~other things. ~~The~~It is ~~application~~then ~~for~~much ~~the~~easier ~~use~~for ofresidents ~~the~~to ~~winter~~arrive ~~road~~at ~~(waiver~~a ~~request,~~precise ~~usage~~understanding ~~right,~~of ~~intervention permit) was filed at~~ the facts ~~end~~surrounding of the ~~quarter~~uranium industry.

~~Considerable~~Notable ~~progress~~among these initiatives was ~~made~~the visit onby four aboriginal chiefs from Saskatchewan to better understand the realities ~~various~~of ~~health~~living near an uranium mine. Organized by Chief John Longchap and Learning ~~safety~~Together, ~~studies~~these information sessions had a major positive impact on local residents. ~~Most~~In fact, the chiefs, who represent the Canadian communities most directly concerned by uranium mining, were unequivocal about the impacts of uranium mines on health and the ~~studies~~environment: ~~are~~after ~~now~~50 ~~complete~~years of uranium mining, the ~~including~~health of their communities, the ~~radiation~~environment, ~~safety~~water, ~~study~~game and fish was intact, even with a ~~high~~uranium ~~priority~~mine ~~element~~less ~~for~~than 30 km away. Their respective communities also enjoy the ~~Licence~~direct benefits of uranium mining..

InAlso ~~addition,~~ the ~~Val~~Company uploaded its new website in mid-~~d’Or~~March. ~~and~~The ~~Amos~~website ~~offices~~was ofoptimized ~~GENIVAR~~so ~~have~~as ~~almost~~to ~~completed~~be ~~the~~more ~~detailed~~accessible, ~~engineering~~powerful and ~~work~~user-friendly ~~for~~in order to inform the ~~surface~~public ~~facilities~~more ~~needed~~effectively. ~~for~~The Company also acquired a new management tool that allows it to update the ~~underground~~site ~~exploration~~regularly. Henceforth, ~~program~~the public will have fast, easy access to up-to-date documentation published by the Company.

AOn ~~meeting~~the ~~was~~investor ~~held~~relations ~~with~~front, several members of the ~~Canadian~~Company’s ~~Nuclear~~team ~~Safety~~travelled ~~Commission~~to Toronto in the first quarter for the meeting of the Prospectors and Developers Association of Canada (PDAC) from March 7 to ~~ensure~~10. ~~that~~The President and Chief Executive Officer made a presentation outlining the ~~Licence~~reasons ~~was~~to ~~consistent~~invest ~~with~~in ~~their~~the ~~requirements~~Company. He also travelled to Europe from February 1 to 5 and to Florida from February 28 to March 3 to attend the Global Metals & Mining Conference, and gave media interviews to inform investors and the public on the MATOUSH PROJECT developments.

~~The~~All ~~documents~~these ~~for~~initiatives were beneficial to the ~~environmental~~dissemination ~~assessment,~~of asinformation ~~well~~to asstakeholders and social acceptance of the MATOUSH ~~Licence~~PROJECT. They also helped support open, ~~will~~ongoing becommunication ~~filed~~with aslocal aboriginal ~~planned~~and non-native communities, ~~early~~investors, inregulatory ~~the~~authorities ~~next~~and ~~quarter~~the general public.

~~Communications~~STRATEGY AND ACTION PLAN

The Company’s ~~recently~~highly ~~updated~~qualified ~~its~~team ~~website. The website provides access~~ plans to asustain ~~broad~~and ~~range~~accelerate ofits ~~information~~efforts onto ~~the~~make ~~nature and characteristics of~~ the MATOUSH PROJECT, ~~as well as~~ the ~~planned~~first uranium ~~effects~~project onin ~~the~~Quebec ~~environment, health and safety. The website now also has pages on “News~~ to ~~Investors”~~advance ~~and “News~~ to the ~~Communities”~~underground ~~that~~exploration ~~provide up to the minute news on the MATOUSH PROJECT. Anyone interested can~~stage, ~~for instance, consult~~ and the ~~latest~~first ~~resource~~to ~~estimate or~~ be ~~informed~~realized onby the latest information documents uploaded. The site also provides new information files on interesting subjects related to uranium, such as environmental protection, transport, site restoration and health and safety programs. The site was updated out of a ~~concern for transparency,~~ so-called ~~that~~junior ~~shareholders~~company orin ~~anyone~~Canada ~~else interested~~ in ~~the~~this ~~project~~cycle, meaning ~~could~~in ~~find~~nearly ~~answers~~25 ~~to questions they might have~~years.

In the interest of fostering communications with the First Nations, a meeting was held in Mistissini, Québec, Canada, in mid-August with members of the Coonishish family, whose trap lines lie on the land covered by the MATOUSH PROJECT.

Discussions were also held with representatives of the Uranium Committee, based in Chibougamau, Québec, Canada regarding their strategy and steps for the planning of public meetings.

- 10 -

InTo ~~addition~~do this, tothe ~~maintain~~Company ~~direct~~is ~~contact~~pursuing ~~with~~is efforts ~~investors,~~to obtain the ~~president~~licence ~~and~~required ~~Chief~~to ~~Executive~~begin ~~Officer~~excavation ~~travelled~~of tothe ~~Europe~~exploration ramp ~~and~~by ~~Toronto~~the ~~twice~~fall ~~during~~of 2010. All the ~~third~~documents ~~quarter,~~required ~~where~~for hethe ~~attended~~licence ~~several~~have ~~meetings~~been completed and filed with the regulatory bodies. HeThe ~~also~~next ~~gave~~step ~~media~~is ~~interviews,~~to ~~notably~~present onthe environmental ~~Quebec~~impact ~~television~~study ~~specialised~~on ~~channel~~the inMATOUSH ~~financial~~PROJECT ~~matters~~at ~~(“Canal~~public ~~Argent”),~~hearings to ~~inform~~be ~~investors~~held in Mistissini and ~~the~~Chibougamau ~~public~~ on ~~MATOUSH~~May ~~PROJECT~~25 ~~developments.~~and 26, 2010.

~~These~~The ~~initiatives show that the~~ Company is ~~pursuing~~very ~~its~~optimistic ~~efforts~~about tothe public ~~establish~~hearings, ~~and~~as ~~maintain~~its ~~good~~team ~~relations~~is well prepared and ~~open,~~the ~~ongoing~~environmental ~~communications~~impact ~~with~~study presents ~~local~~positive ~~communities~~results, concluding that the ~~Cree~~impact ~~community,~~on ~~investors~~workers, ~~regulatory~~local residents ~~authorities~~ and the ~~general~~environment ~~public~~are negligible.

To accelerate the process of obtaining a licence for construction of the mine, the Company plans to begin environmental studies in 2011 for the construction of the tailings pond.

In terms of exploration, the Company began its largest drilling program to date on the MATOUSH PROJECT. In addition to drilling on a systematic 200-metre spacing, the Company will drill around the high-potential area identified in 2009 (EC-09-05 and 06). The Company is confident that this exploration work will enable it to increase the uranium resource on the MATOUSH PROJECT. This program of 120,000 metres of drilling over two years (2010-2011) should also determine the maximum capacity required for the Matoush ore processing plant.

In reason of the Company’s needs for specialised services in fiscal and accounting matters related to its expansion, the Company gave notice on March 23, 2010 to Petrie Raymond, LLP, Chartered Accountants (Petrie Raymond), which were the Auditors of the Company since 2004, of the Change of Auditors. During the quarter, the Company reported on Form 8-K dated March 30, 2010 as amended on April 7, 2010 on Form 8-KA2, the Notice of Change of Auditors and the response of Petrie Raymond. On May 27, 2010, the Company proposes in its Management Information Circular produced as Exhibit 22, to shareholders at the Annual and extraordinary Assembly of Shareholders to nominate PricewaterhouseCoopers, LLP, Chartered Accountants, as the new Company’s Auditors.

On the financing front, the Company pursued its aggressive strategy to maintain its strong financial position and ensure good shareholder return. The $15 million private placement with Sentient is evidence of the Company’s long-term view. The President and Chief Executive Officer also continued to meet with investors throughout the period. The Company retained the services of Mr.Paul Einarson, CA, CPA, as Vice President, Finance in a permanent capacity, effective mid-May. His achievements and success are well recognized, and will undoubtedly contribute to the good management and financial wellbeing of the Company.

Finally, the Company plans to expand its community and investor communication initiatives. As of May 1^rst, 2010, it has retained the services of Renmark Financial Communications Inc. to help with its investor relations activities. The Company will continue to prioritize information disclosure and transparency by organizing various meetings and information sessions with communities in the vicinity of the MATOUSH uranium PROJECT.

Use of Proceeds –in Canadian dollars

~~The~~During ~~Company’s~~the ~~working~~first ~~capital~~quarter ~~stood~~ended atMarch ~~$12~~31,~~017~~ 2010,~~615~~ atthe ~~September~~Company ~~30,~~in ~~2009.~~order ~~During~~to ~~the~~conduct ~~nine-month~~exploration ~~period~~works ~~ended~~on ~~September~~its ~~30,~~properties ~~2009,~~used sums from proceeds obtained throughout the ~~Company~~years ~~received~~by $8private placements,~~310,361~~ inexercise of warrants or stock option or tax credits ~~for~~related to resources for a total approximate and aggregate amount $60.7M of net proceeds

The Company’s ~~investment~~conducted ~~activities~~during ~~primarily~~the ~~consist~~first quarter of ~~funds~~2010 ~~used in~~ exploration ~~work~~works ~~and~~on the ~~addition~~MATOUSH ofPROPERTY ~~properties.~~in ~~The~~the ~~Company~~amount ~~is entitled to a refundable tax credit for resources for up to 38.75%~~ of ~~eligible expenses~~ $5,279,088 ~~and~~representing ~~a credit on mining duties refundable for losses of 12~~8.60% of ~~eligible~~the ~~expenses~~issuer’s ~~incurred. As~~approximate atnet ~~September~~offering 30proceeds, and ~~2009, the Company had such tax credits receivable for~~ $82,~~610~~053,~~659.~~446

Of the $12 million in working capital held by the Company at September 30, 2009, about $450,000 will be used to cover general and administrative expenses and approximately $1.8 million will be used to pursue the exploration programs planned for the remaining of fiscal year 2009.

The Company obtained net offerings proceeds through financings, by private placements, including one of $25M in January 2007 and another flow-through private placement for $8M in October 2008. The Company also obtained liquidities from exercises of stock options and warrants in the years 2006 to 2008. The Company totalled over the years, an approximate amount of net offerings proceeds for $34.5M as detailed in Form 10 K for the fiscal year ended December 31, 2008, Part II- Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities subsection (f) Use of proceeds and Item 7 Management’s Discussion and Analysis of Financial Condition and Results of Operations subsection Liquidity.

The Company did not acquire any new net offerings proceeds during the third quarter of 2009.

For the period between July 1, 2009 and September 30, 2009, the Company conducted exploration works using a total amount of $4,457,542. Cumulative exploration expenses as at September 30, 2009 amounted to $40,344,063 compared to cumulative expenses of $31,074,706 as at September 30, 2008 before income tax credits for resources.

In the third quarter of 2009, the Company conducted most of the exploration work on the MATOUSH PROPERTY, with exploration expenses of $4,297,230 representing 12% of the issuer’s offerings net proceeds. The Company also invested amounts on the PACIFIC BAY-MATOUSH PROPERTY, on ECLAT PROPERTY, on the APPLE PROPERTY, the MISTASSINI PROPERTY and the MATOUSH EXTENSION PROPERTY representing less than 5% of the issuer’s net proceeds.

Directors’ Fees – In U.S. Dollars according to Federal Reserve Statistical Release, Foreign Exchange Rates, Canada-Spot Exchange rate as at September 30, 2009, Canadian$/US$: CA$1.0719 / US$1.00.

- 11 -

~~The~~on ~~external~~ECLAT ~~directors~~PROPERTY ~~receive~~representing ~~fees~~3.3% of ~~$746~~the issuer’s ~~for~~approximate ~~each~~net ~~board~~offering ~~meeting~~proceeds ~~(BM)~~in ~~they~~the ~~attend~~approximate and ~~$280~~aggregate amount toof ~~assist by telephone conference call (BMT). Each audit committee member receives~~ $~~933 for each audit committee meeting (AC) they attend and $466 to assist by telephone conference call (ACT)~~60.7M. ~~The~~A ~~external~~summary ~~directors receive also $373 to assist to the annual meeting~~ of ~~shareholders~~exploration ~~(AM)~~works ~~whenever~~conducted ~~it occurs~~ during ~~the~~this reporting period. ~~Misters~~on ~~Hébert and Lachance, directors and executive officers and Mr. Lanctôt, who is director and Corporate Secretary of the Company, do not receive directors’ fees.~~

~~During~~ the ~~period,~~MATOUSH ~~Mr.~~PROPERTY ~~Bergeron~~can ~~did~~be ~~not~~consulted ~~receive~~in the ~~any~~section ~~fees~~Item ~~since~~2: heExploration ~~did~~work ~~not attend the sole Audit committee~~ and ~~Board~~activities of ~~directors~~this ~~meetings~~Form ~~because~~10-Q hefor ~~was out of~~ the period ~~country~~ended onMarch ~~that~~31, ~~date~~2010.

The ~~external~~Company ~~directors~~also ~~received~~spent anduring ~~aggregate~~the first quarter period exploration related expenses in the amount of $395,~~358~~494 inon ~~Directors’~~PACIFIC BAY-MATOUSH ~~fees~~PROPERTY, ~~for~~of ~~the~~$20,462 ~~period~~on ~~between~~Mistassini ~~July~~Property, 1$10,598 ~~2009~~on ~~and~~the ~~September~~MATOUSH EXTENSION PROPERTY and $30,046 ~~2009,~~on ~~distributed~~Apple asproperty ~~follows:~~each amount representing less than 5 % of the issuer’s approximate net offering proceeds.

Name of Director	Dates and attended Meetings	Amount of Director’s fees paid for the period (US $)
Robert Desjardins	August 5, 2009-AC	$933
Robert Desjardins	August 5, 2009-BM	$746
Jean-Guy Masse	August 5, 2009-AC	$933
Jean-Guy Masse	August 5, 2009-BM	$746
Total for the three month-period ended September 30, 2009		$3,358

The Company’s working capital stood at $18,411,168 at March 31, 2010 ($8,441,128 at December 31, 2009). This working capital includes $10,261,296 of tax credits receivable ($9,306,880 at December 31, 2009) During the three-month period ended March 31, 2010, the Company received $1,151,952 in tax credits for resources.

The Company’s investment activities primarily consist of funds used in exploration work and the addition of mining properties. The Company is entitled to a refundable tax credit for resources for up to 38.75% of eligible expenses, and a credit on mining duties refundable for losses of 12% of eligible expenses incurred. As at March 31, 2010, the Company had such tax credits receivable for $10,261,296.

Of the $18.4 million in working capital held by the Company at March 31, 2010, about $1.2M will be used to cover general and administrative expenses and approximately $17.2M will be used to pursue the exploration programs planned for the remaining of fiscal year 2010.

Directors’ Fees – In U.S. Dollars according to Federal Reserve Statistical Release, Foreign Exchange Rates, Canada-Spot Exchange rate as at March 31, 2010, Canadian$/US$: CA$1.0156 / US$1.00.

The external directors receive fees of $788 for each board meeting (BM) they attend and $295 to assist by telephone conference call (BMT). Each Audit Committee member receives $985 for each Audit Committee meeting (AC) they attend and $492 to assist by telephone conference call (ACT). The external directors receive also $394 to assist to the annual meeting of shareholders (AM) whenever it occurs during the period. Misters Hébert and Lachance, directors and executive officers and Mr. Marchand do not receive directors’ fees. Mr. Lanctôt who resigned as Corporate Secretary of the Company but who remains Director as of March 11, 2010 was entitled to Director’s fees.

The external directors received an aggregate of $6,697 in Directors’ fees for the period between January 1, 2010 and March 31, 2010, distributed as follows:

- 12 -


Name of Director	Dates and attended Meetings	Amount of Director’s fees paid for the period (US $)
Robert Desjardins	March 11, 2010 AC	$985
Robert Desjardins	March 11, 2010 BM	$788
Jean-Guy Masse	January 15, 2010-BMT	$295
Jean-Guy Masse	March 11, 2010 AC	$985
Jean-Guy Masse	March 11, 2010 BM	$788
Marcel Bergeron	January 15, 2010-BMT	$295
Marcel Bergeron	March 11, 2010 AC	$985
Marcel Bergeron	March 11, 2010 BM	$788
Henri Lanctôt	March 11, 2010 BM	$788
Total for the three month-period ended March 31, 2010		$6,697

Item 4 - Submission of Matters to a Vote of Security Holders

There was no matter submitted to a Vote of Security Holders during the period. The Annual and Special Assembly of Shareholders will be held at the Salon Hochelaga 4, of the Fairmont The Queen Elizabeth Hotel, 900 René-Lévesque Blvd. West, Montreal, Québec, Canada, on May 27, 2010 at 10:30 a.m. The Management and Information Circular with proxy solicitation material were sent on or about April 30, 2010 to the Company’s shareholders of record as of April 21, 2010. The Company joins as Exhibit 22, the Notice of Meeting and the Management Information Circular.

Item 5. Other Information

~~None~~On March 11, 2010, the Company reported on Form 8-K dated March 21, 2010, the appointment of Mr. Robert Marchand as new director of the Company.

In reason of the Company’s needs for specialised services in fiscal and accounting matters related to its expansion, on March 23, 2010, the Company gave notice of the Change of Auditors to Petrie Raymond, LLP, Chartered Accountants (Petrie Raymond), which were the Auditors of the Company since 2004, During the quarter, the Company reported March 31, 2010, on Form 8-K 12, item 4.01 as amended on April 7, 2010 on Form 8-KA1 and as amended on Form 8-KA2 on April 15, 2010.

~~Item~~On 6May –27, ~~Exhibits~~2010, –the ~~Table~~Company proposes in its Management Information Circular produced as Exhibit 22, to shareholders at the Annual and Special Meeting of ~~Exhibits~~Shareholders to nominate PricewaterhouseCoopers, LLP, Chartered Accountants, as the new Company’s Auditors.

	Table of Exhibits – Form 10Q, September 30, 2009	Format	Reference to Pages of Form 10Q or Incorporation by Reference
3 (i)	Certificates of incorporation and amendments	P	See Form 10 SB/A2 Volume 1 Amended pages 1 to 10
3 (ii)	By-laws	P	See Form 10 SB/A2 Volume 1 Amended pages 37 to 59
(4) (1)	Instruments defining the rights of security holders, including indentures in By-Laws	P	See Form 10 SB/A2 Volume 1 Amended By-Laws sections 47 to 54 pages 50 to 52
(4) (2)	Instruments defining the rights of security holders, including indentures in Annex A to Certificate of incorporation (translation in English)	CE	Form 10KSB/A2, 2007-12-31 Page 79
10.1	Amended Contract of Services between Strateco Resources Inc. and BBH Geo-Management Inc dated April 1, 2007 ( French Language version)	CE	Form 10KSB/A2, 2007-12-31, Page 81
10.2	Amended Contract of Services between Strateco Resources Inc. and BBH Geo-Management Inc dated April 1, 2007 (English language summary)	CE	Form 10KSB/A2, 2007-12-31 Page 86
10.3	Contract of Services between Strateco Resources Inc. and BBH Géo-Management Inc. dated August 1, 2008 (French language version)	CE	Form 10Q, 2009-09-30, page 11
10.4	Contract of Services between Strateco Resources Inc. and BBH Géo-Management Inc. dated August 1, 2008( English Language summary )	CE	Form 10Q, 2008-09-30, p. 15
10.5	Amended Stock Option Plan dated November 7, 2008 ( French Language version) with Summary in English Language	CE	Form 10KSB/A2, 2007-12-31 Page 87
10.6	Amended Stock Option Plan dated November 7, 2008 (English Language summary)	CE	Form 10KSB/A2, 2007-12-31 Page 100
18	Letter re change in accounting principles	CE	Form 10-K 2008-12-31, Transmittal letter
22	Published report regarding matters submitted to vote of security holders dated May 6, 2009	CE	Form 10 Q for the period ended 2009-06- 30
23	Letter of consent from David A. Ross, P.Geo., of Scott, Wilson, Postle Associates re Memorandum: Matoush Mineral Resource Update dated September 18, 2009	CE	Form 10-Q for the period ended 2009-09-30
24	Form FIX appointing Eaton, Peabody as Agent of the Company in the United States of America dated July 15, 2002 and certified copy of the Board of Directors dated July 15, 2002	P	Form 10 SB/A2 Volume 1 Amended page 230
24	Power of attorney	P	Form 10 SB/A2 Volume of Exhibits Amended page 232
31	Rule 13a-14 (a)/15d-14(a) Certifications	CE	Form 10 Q- for the period ended 2009-09-30
32	Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	CE	Form 10-Q for the period ended 2009-09-30

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Item 6 – Exhibits – Table of Exhibits



	Table of Exhibits – Form 10Q, September 30, 2009	Format	Reference to Pages of Form 10Q or Incorporation by Reference
3 (i)	Certificates of incorporation and amendments	P	See Form 10 SB/A2 Volume 1 Amended pages 1 to 10
3 (ii)	By-laws	P	See Form 10 SB/A2 Volume 1 Amended pages 37 to 59
(4) (1)	Instruments defining the rights of security holders, including indentures in By-Laws	P	See Form 10 SB/A2 Volume 1 Amended By-Laws sections 47 to 54 pages 50 to 52
(4) (2)	Instruments defining the rights of security holders, including indentures in Annex A to Certificate of incorporation (translation in English)	CE	Form 10KSB/A2, 2007-12-31 Page 79
10.1	Amended Contract of Services between Strateco Resources Inc. and BBH Geo-Management Inc dated April 1, 2007 ( French Language version)	CE	Form 10KSB/A2, 2007-12-31, Page 81
10.2	Amended Contract of Services between Strateco Resources Inc. and BBH Geo-Management Inc dated April 1, 2007 (English language summary)	CE	Form 10KSB/A2, 2007-12-31 Page 86
10.3	Contract of Services between Strateco Resources Inc. and BBH Géo-Management Inc. dated August 1, 2008 (French language version)	CE	Form 10Q, 2009-09-30, page 11
10.4	Contract of Services between Strateco Resources Inc. and BBH Géo-Management Inc. dated August 1, 2008( English Language summary )	CE	Form 10Q, 2008-09-30, p. 15
10.5	Amended Stock Option Plan dated November 7, 2008 ( French Language version) with Summary in English Language	CE	Form 10KSB/A2, 2007-12-31 Page 87
10.6	Amended Stock Option Plan dated November 7, 2008 (English Language summary)	CE	Form 10KSB/A2, 2007-12-31 Page 100
18	Letter re change in accounting principles	CE	Form 10-K 2008-12-31, Transmittal letter
22	Published report regarding matters submitted to vote of security holders dated May 6, 2009	CE	Form 10 Q for the period ended 2009-06- 30
22	Published report regarding matters submitted to vote of security holders dated April 22, 2010	CE	Form 10-Q for the period ended 2010-03-31
23	Letter of consent from David A. Ross, P.Geo., of Scott, Wilson, Postle Associates re Memorandum: Matoush Mineral Resource Update dated September 18, 2009	CE	Form 10-Q for the period ended 2009-09-30
24	Form FIX appointing Eaton, Peabody as Agent of the Company in the United States of America dated July 15, 2002 and certified copy of the Board of Directors dated July 15, 2002	P	Form 10 SB/A2 Volume 1 Amended page 230
24	Power of attorney	P	Form 10 SB/A2 Volume of Exhibits Amended page 232
31	Rule 13a-14 (a)/15d-14(a) Certifications	CE	Form 10 Q- for the period ended 2010-03-31
32	Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	CE	Form 10 Q- for the period ended 2010-03-31

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SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

STRATECO RESOURCES INC.

Registrant

Date: ~~November~~May 45, ~~2009~~ 2010

/s/ Guy Hébert

__________________________

President and Chief Executive Officer

Date: ~~November~~May 45, ~~2009~~ 2010

/s/ Ingrid Martin, C.A.

__________________________

Chief Financial Officer

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