GeoMegA Resources Inc.

GeoMegA Resources Inc.

January 31, 2012 16:43 ET

Geomega Resources Inc.: Montviel Metallurgy Progress Update

MONTREAL, QUÉBEC--(Marketwire - Jan. 31, 2012) - Geomega Resources Inc. (GéoMégA) (TSX VENTURE:GMA) announces a metallurgical progress report on its Montviel Rare-Earths (REE) project located 97 km north of Lebel-sur-Quévillon, Québec.

"Preliminary results are encouraging. The team of experts composed of SGS Lakefield metallurgists, Gary Pearse (Qualified Person) and Ahmed Bouajila (GMining) have the important metallurgical task well in hand. The conclusion of these initial tests leave us confident in developing a robust process flow sheet for Q2 2012." comments Simon Britt, CEO of GéoMégA.

Metallurgical progress report (as at YE 2011)

First flotation trials and Wilfley Table concentration trials were done to investigate responses of the ore to these methods. Flotation concentrates combined with Wilfley Table concentrates made from flotation tailings resulted in a 73% recovery of REE within 51% of the mass (49% of mass rejected to tailings). Optimization of the flow sheet will entail the testing of a number of different flotation reagents, using different dosages and other parameters to further improve on this recovery rate and concentration factor.

Examination of sections of mineralized drill core using Scanning Electron Microscopy (SEM) and microscopic examination of concentrates and tailings indicated that a good liberation should be possible with a coarser grind. A coarser grind would tend to reduce fine REE mineral losses to tailings in both flotation and Wilfley tabling and improve concentrate grade.

Work on coarser material with alternative flotation reagents, further Wilfley Table trials and use of other techniques including electrostatic separation, which has proven effective with some ores, will be part of on-going process development work. A direct hydrometallurgical extraction of REE from a mineralized sample will be done to assess the baseline case.

NI 43‐101 Disclosure

Gary H.K. Pearse, M.Sc., P.Eng., is the Qualified Person who supervised the preparation of the technical information in this news release.

Major Rare Earths discovery for Québec - MONTVIEL NI 43-101: 183.9Mt Indicated averaging 1.45% TREO

The initial NI 43-101 compliant resource calculation at a base cut-off grade of 1% total rare earth oxides (TREO), released on September 29, 2011, totalled 183.9 million tonnes averaging 1.45% TREO in the Indicated resources category and 66.7 million tonnes averaging 1.46% TREO in the Inferred resources category. 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.

About GéoMégA

GéoMégA, which owns 100% of the Montviel property, is a Québec mining exploration company focused on finding economically viable deposits of elements needed by Clean Technologies such as Rare Earths and Graphite. 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 22,732,327 common shares outstanding.

On behalf of the Board of Directors of GéoMégA

/s/ "Simon Britt"

Simon Britt

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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