Matamec Explorations inc.
TSX VENTURE : MAT

Matamec Explorations inc.

August 19, 2010 12:12 ET

Matamec Discovers Boulders Containing Up to 86% HeavyREO+ Y2O3/TREO and 6.96% Niobium

MONTREAL, QUEBEC--(Marketwire - Aug. 19, 2010) - Matamec Explorations Inc. ("Matamec" or the "Company")(TSX VENTURE:MAT) is pleased to announce that it has discovered a train of boulders around and upslope from the bedrock Surprise showing, located on the Zeus property. From this train, six samples were collected for analysis. These samples are characterized by a strong enrichment in rare earths, yttrium, niobium and tantalum as presented in the following table:

Analytical Results for Six Boulders** from the Surprise Showing–Zeus Property
Element Oxides Sample Number and Analytical Results in %
RA-3 RA-5 RA-9 RA-11 RA-12 RA-14
La2O3 Lanthanum Oxide 0.036 1.278 0.260 0.072 0.019 0.869
Ce2O3 Cerium Oxide 0.086 2.695 0.600 0.233 0.098 1.834
Pr2O3 Praseodymium Oxide 0.011 0.308 0.080 0.036 0.012 0.219
Nd2O3 Neodymium Oxide 0.045 1.184 0.296 0.193 0.064 0.815
LREO* Light rare earths 0.179 5.465 1.237 0.532 0.193 3.737
Sm2O3 Samarium Oxide 0.020 0.104 0.097 0.109 0.044 0.215
Eu2O3 Europium Oxide 0.004 0.047 0.017 0.022 0.009 0.037
Gd2O3 Gadolinium Oxide 0.032 0.347 0.138 0.179 0.070 0.296
MREO* Medium rare earths 0.056 0.498 0.251 0.310 0.122 0.549
Tb2O3 Terbium Oxide 0.009 0.062 0.036 0.048 0.022 0.071
Dy2O3 Dysprosium Oxide 0.074 0.468 0.328 0.504 0.220 >0.574
Ho2O3 Holmium Oxide 0.021 0.108 0.092 0.137 0.061 0.173
Er2O3 Erbium Oxide 0.071 0.328 0.328 0.477 0.218 >0.572
Tm2O3 Thulium Oxide 0.012 0.039 0.050 0.062 0.032 0.084
Yb2O3 Ytterbium Oxide 0.070 0.215 0.292 0.378 0.194 0.545
Lu2O3 Lutetium Oxide 0.008 0.023 0.035 0.041 0.022 0.065
HREO* Heavy rare earths 0.266 1.243 1.160 1.646 0.769 >2.084
Y2O3 Yttrium Oxide 0.531 3.518 2.305 2.692 1.160 4.280
HREO + Y2O3   0.797 4.761 3.465 4.338 1.929 >6.364
% HREO +Y2O3/TREO   77 44 70 84 86 >60
TREO* Total rare earths 1.031 10.724 4.953 5.181 2.244 >10.649
ZrO2 Zirconium Oxide 0.921 0.111 0.689 1.857 2.209 0.729
Nb2O5 Niobium Oxide 0.737 0.062 3.905 4.707 3.677 6.967
Ta2O5 Tantalum Oxide 0.023 0.005 0.090 0.063 0.060 0.145
* LREO: light rare earths oxides (or Ceric) = La2O3 to Nd2O3 MREO : Medium rare earths oxides = Sm2O3 to Gd2O3 HREO: Heavy rare earths oxides (or Yttric) = Tb2O3 to Lu2O3 TREO: Total rare earths oxides = LREO + MREO + HREO + Y2O3
N.B.: Sub-divisions used by Roskill Information Services Ltd. and Industrial Minerals Company of Australia Pty Ltd.
">" This symbol shown in the above table means that the results are overlimit. We are currently awaiting these new analyses.
**An assay from a selected boulder could not represent the average grade of its source.

These are preliminary results from the spring-summer field exploration work done on Matamec's Zeus property May to July 2010. This 2010 work was carried out on the Kipawa deposit and its surroundings, mostly on the Falaises, Surprise and TH showings (discovered in 2008), as well as other areas of the property which cover much of the Kipawa Alkalic Complex.

Once all results of the samples submitted for analysis are received in full, they will be reviewed by Anthony Mariano, PhD. He will identify the mineral species containing the rare earths, yttrium, zirconium, niobium and tantalum values, using various methods at his disposal.

Niobium is presently being mined at three places in the world, two in Brazil and one in Canada. The Canadian producer is the Niobec Mine owned by IAMGOLD Corporation, located in the Saguenay region of Quebec. The mine presently (December 31, 2009) produces from ore which averages 0.56% Nb2O5. IAMGOLD states that it is "comfortable" with the February 27th 2010 price of niobium, in the mid-$30's per kilogram.

Andre Gauthier, president of Matamec, underlines that "the discovery of these boulders means that it is probable to find high grade mineralization greatly enriched in heavy rare earths and niobium in the area of the Kipawa Alkalic Complex".

Alex Knox, geologist (P. Geol). and Aline Leclerc. geologist (OGQ) and Vice-President Exploration of Matamec, are qualified persons for the Zeus Project. As qualified persons, they have supervised the preparation of the scientific and technical information for the Zeus property and verified the data in this press release.

About Matamec

Matamec explores for significant gold deposits in the Timmins mining camp in Ontario of which the Matheson JV property with Goldcorp Canada Ltd. and Goldcorp Inc. is the main target. In Quebec. the Company explores for precious and base metals on its Sakami, Valmont and Vulcain properties. As well, Matamec is exploring for gold together with Northern Superior Resources Inc. on its Lepérance/Wachigabau property.

Concurrently with the above mentioned exploration programs, Matamec's Quebec Tansim property is also being explored for rare metals such as lithium, tantalum and niobium.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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