Matamec Explorations inc.

Matamec Explorations inc.

July 14, 2010 09:00 ET

Matamec Begins its 2nd Drilling Campaign on the Heavy Rare Earths-Yttrium-Zirconium Kipawa Deposit

MONTREAL, QUEBEC--(Marketwire - July 14, 2010) - Matamec Explorations Inc. ("Matamec" or the "Company" - TSX VENTURE:MAT) is pleased to announce that its second NQ sized drilling campaign, of a proposed 2000 m, has begun on the heavy rare earths-yttrium-zirconium Kipawa deposit, located on the Zeus property. The first two drill holes: 10-KM-62 and 10-KM-63 were drilled to depths of 123 and 117 metres respectively.

Matamec's previous drilling campaign (Winter 2009) allowed SGS Geostat to estimate that the Kipawa Deposit is continuous over a distance of 1.45 kilometres, is 200 metres wide and is 50 metres thick. In addition, eight of the nine sections drilled within the Central Zone of the deposit showed down-dip drill holes that were better mineralized than up-dip drill holes, strongly underlining the potential to encounter better mineralization down dip of the currently defined deposit. The main objectives of the present drilling campaign are therefore to confirm this hypothesis of better and wider mineralization in the down-dip direction and to increase existing resources.

Andre Gauthier, Matamec's president, comments that: "We are very happy to begin this second drilling campaign. You have to remember that the Kipawa deposit is presently considered open both laterally and at depth, providing us with excellent potential to add tonnage to existing mineralized zones. Our progress on the Kipawa deposit has been very encouraging and all of Matamec shareholders can expect a positive year. We will definitively continue to develop this exceptional mineralized system."

The first two drill holes went through the entire sequence of rocks which host the mineralization, over a width of 86.9 in the first hole and 90.7 meters in the second hole (these approximate true widths). Rare earths and zirconium mineralisation was intersected in both of those drill holes. Additional information will be announced in the near future as the exploration program continues.

The geological information in this press release was prepared by Alex Knox, P.Geol. and Aline Leclerc, geologist and Exploration Vice-President for Matamec, Qualified Persons as defined by NI-43-101.

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 Lespérance/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."

Contact Information