GeoMegA Resources Inc.
TSX VENTURE : GMA

GeoMegA Resources Inc.

November 14, 2011 12:01 ET

GeoMegA Files NI 43-101 Report for Initial Resource Calculation of Montviel Core Zone

MONTREAL, QUEBEC--(Marketwire - Nov. 14, 2011) - Geomega Resources Inc. (GéoMégA) (TSX VENTURE:GMA) announces that, further to its news release of September 29, 2011, it has filed its National Instrument 43-101 technical report titled "Montviel Core Zone REE Mineral Resource Estimate Technical Report, Quebec" dated September 29, 2011, on SEDAR at www.sedar.com. The report can also be found on GéoMégA's website at http://www.ressourcesgeomega.ca/project1.htm.

The resource estimate was prepared by Claude Duplessis, P. Eng., and Guy Desharnais, Ph.D., P.Geo., independent Qualified Persons of SGS Canada Inc. - Geostat of Blainville, Québec. The resources were based on analytical results from 19 diamond drill holes totalling 8,856 metres completed at Montviel Core Zone in 2010 and 2011. Montviel's "Core Zone" base case resource estimate, using a Total Rare Earth Oxide (TREO) cut-off grade of 1.00%, hosts an Indicated mineral resource of 183,900,000 tonnes grading 1.45% TREO in addition to an Inferred mineral resource 66,700,000 tonnes grading 1.46% TREO. Highlights include at the base case 1.00% TREO cut-off grade:

Category Resource Tonnes Nd2O3
(Kg in-situ)
Pr2O3
(Kg in-situ)
Dy2O3
(Kg in-situ)
Eu2O3
(Kg in-situ)
Y2O3
(Kg in-situ)
Nb2O5
(Kg in-situ)
Indicated 183,900,000 446,000,000 139,000,000 4,190,000 9,000,000 13,000,000 231,000,000
Inferred 66,700,000 160,000,000 50,000,000 1,650,000 3,000,000 5,000,000 94,000,000

Values displayed in this table are "in-situ" and intended for illustrative purposes only. No mining scenario, milling or metallurgical recovery has been estimated or applied to these values, and therefore they do not have demonstrated economic viability.

NI 43‐101 Disclosure

Jacquelin Gauthier, P. Geo., P. Eng., VP Exploration is the Qualified Person who supervised the preparation of the technical information in this news release.

Major discovery for Québec – 3rd largest TREO deposit outside China (NI 43-101 or equivalent)

The initial NI 43-101 compliant resource calculation, released on September 29, 2011, totalled 183.9 million tons Indicated averaging 1.45% total rare earth oxides (TREO) in addition to 66.7 million tons Inferred averaging 1.46% TREO. Montviel has the potential to play a significant near term role in the clean technologies of the 21st century due to its proximity to infrastructure and available labour.

Rare earth elements are key components of the clean energy technologies and other high-technology applications. Major applications include hybrid/electric automobiles, advanced wind turbines, computer hard drives, compact fluorescent lights and numerous metal alloys.

About GéoMégA

GéoMégA, which owns 100% of the Montviel property, is a young Québec mining exploration company focused on finding economically viable deposits of elements needed by Clean Technologies. GéoMégA is committed to meeting stringent mining industry standards and distinguishing itself with its expertise, know-how and its support and respect for local communities and the environment.

GéoMégA currently has 22,205,899 common shares outstanding and is well funded.

On behalf of the Board of Directors of GéoMégA

Simon Britt, President and Chief Executive Officer.

Forward-Looking Statements. This Company news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

The TSX Venture Exchange and its regulatory service provider (as defined in the TSX-V Rules) cannot be held responsible for the accuracy or veracity of this release.

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