Matamec Extends its Kipawa Deposit

MONTREAL, QUEBEC--(Marketwire - July 28, 2011) - Matamec Explorations Inc. ("Matamec" or the "Company")(TSX VENTURE:MAT) announces that the first phase of the summer field program on Matamec's HREE-Y-Zr Zeus property is completed. Analytical results will drive a second exploration phase later in the summer and fall. The goals of this program were to explore for extensions of the Kipawa deposit and discover new REE-Zr occurrences along the favourable horizon. This work has lead to the discovery of a new bedrock occurrence of the main ore bearing mineral, eudialyte, 300m along strike to the northwest of the presently recognized limit of the deposit. It has also lead to the discovery of new occurrences of rare earth (REE) minerals within the Kipawa Alkalic Complex on its property.

The field program consisted of regional prospecting, regional and detailed geological mapping, soil sampling, grid geophysics and mechanical trenching. Highlights include:

• The discovery of a new bedrock occurrence of eudialyte (the mineral which contains the majority of the rare earth values in the Kipawa REE-Zr deposit) 300m along strike to the northwest of the presently recognized limit of the deposit.

• The discovery of rare earth-bearing mineral occurrences in outcrop and as boulders in other areas of the property by regional prospecting.

The recently discovered REE-bearing mineral occurrences show a strong similarity with the mineralogy and geology of known REE-Zr zones on the property and a follow-up of these very favourable results is planned for later in the year. The new occurrence of eudialyte is especially important, as it is the first recorded bedrock discovery of this important indicator mineral within the Kipawa Alkalic Complex since 1958.

Andre Gauthier, president of Matamec states that: "The knowledge Matamec has gained by carefully analysing the geological setting of the Kipawa deposit has lead to new discoveries of REE minerals within the Kipawa Alkalic Complex. We hope that these discoveries may be developed into future REE-Zr economic zones and the initial results clearly demonstrate the enormous exploration potential of Matamec's Zeus property".

Samples from the new REE-bearing occurrences have been submitted for chemical analysis and results will be reported as they are received.

Future work on Matamec's REE property will include the completion of regional geological mapping, a follow-up on recently discovered exploration targets and a fall 2011 drilling campaign. The drilling program will explore some of the new REE mineral occurrences and help to define other geological targets within Matamec's Zeus Property. Drilling will also define and extend the Kipawa REE-Zr deposit itself.

Aline Leclerc, V-P Exploration (Geo.) is Matamec's Qualified Person for this press release.

About Matamec

Matamec Explorations Inc is a junior mining exploration company whose main focus is in developing the Kipawa deposit and exploring more than 35km of strike length in the Kipawa Alkalic Complex for rare earths-yttrium-zirconium-niobium-tantalum mineralization on its Zeus property.

The company is also exploring for gold, base metals and platinum group metals. Its gold portfolio includes the Matheson JV property located along strike and in close proximity to the Hoyle Pond Mine in the prolific mining camp of Timmins, Ontario.

In Quebec, the Company is exploring for lithium and tantalum on its Tansim property and for precious and base metals on its Sakami, Valmont and Vulcain properties. As well, it is exploring for gold together with Northern Superior Resources Inc. on the Lesperance/Wachigabau property.