Matamec Explorations inc.
TSX VENTURE : MAT

Matamec Explorations inc.

August 16, 2007 09:55 ET

Matamec Discovers Two Types of Uranium Mineralization on its Tansim Property

MONTREAL, QUEBEC--(Marketwire - Aug. 16, 2007) - Matamec Explorations Inc. (TSX VENTURE:MAT) ("Matamec") announces that it has discovered two types of uranium mineralization during a prospecting program in the eastern part of its Tansim property. This is the first exploration work performed by Matamec on this property since its acquisition in 2003.

The Tansim property is located in the Temiscamingue region of Quebec and covers approximately 5,000 hectares (see attached figure). Since the 1950s, Tansim has been recognized for its rare metal showings (tantalum, niobium, lithium, beryllium, etc.) associated mainly with complex pegmatites. Historically, however, the property has seen little exploration for uranium and no anomalous uranium values had previously been recorded.

The 2007 prospection work was done concomitant with a scintillometer survey, accompanied by manual trenching and spot sampling. The scope of the campaign included: obtaining a general overview of the property; prospecting three rare metal showings associated with complex pegmatites (the Viau, Legault and Vezina showings); and sampling of radiating erratic blocks covering a shoreline section on Lac Simard.

The campaign's first finding consists of a uraninite mineralized zone associated with complex pegmatites (see attached picture). The outcrop in question shows globally elevated radiation compared to local background with a strong radiation zone measuring 1.5 meters in diameter at its centre. A chosen sample from this central zone returned values of more than 150,000 ppm of uranium with anomalous values in thorium, lithium and rubidium.

The second discovery from this field campaign consists of an erratic block of granite, probably in situ, showing a value of 970 ppm in uranium. The lithology of this block suggests the presence of two generations of uraniferous intrusives on the property: one in complex pegmatites, the other in granitic dykes.

The next surface exploration program will include:

- a scintillometer survey of all lithologies concerned;

- sampling by blasting and\or trenching of the mineralizations discovered within the complex pegmatites and the granitic dykes.

Matamec also announces that exploration work is in progress on the La Grande Est, Lesperance, Matheson-Pelangio, Montclerg, Valmont, Vulcain and Zeus properties. The results of these activities will be announced as they are made available.

Quality control

During this exploration work and to better understand the geology of the property, 60 samples were taken. Of these samples, 9 were analyzed for uranium with the ME-MS61 and ME-MS81 methods by ALS-Chemex laboratory in Val-d' Or. From these, 1 sample returned anomalous values in beryllium and lithium, 7 others values of 38,8; 44,4; 46,5; 55,6; 158,5; 419 and 970 ppm of uranium respectively and 1 sample returned an economic value of more than 150 000 ppm of uranium.

The geological data in this press release was prepared by Aline Leclerc, geologist, Vice-president Exploration and a Qualified Person as defined by NI 43-101.

About Matamec

Matamec is a mining exploration company which is exploring for significant gold deposits in Ontario and uranium deposits in Quebec. For gold, it has mainly targeted the East Timmins mining camp, and more particularly, properties that are underexplored or have only been explored near-surface. Matamec's numerous uranium properties are located throughout the province of Quebec.

A Map of the Tansim property is available at the following address: http://www.ccnmatthews.com/docs/Tansim_EN.pdf

MULTIMEDIA AVAILABLE:
http://www.ccnmatthews.com/em/2557

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Matamec Explorations Inc.
    Andre Gauthier
    President
    514-448-5183
    or
    Matamec Explorations Inc.
    Michael D'Amico
    Investor Relations
    647-500-6023
    info@matamec.com
    www.matamec.com