Matamec Explorations inc.

Matamec Explorations inc.

September 02, 2010 11:49 ET

Matamec Identifies 2 Large Rare-Earths and Niobium Soil Anomalies in the Surprise Showing Area

MONTREAL, QUEBEC--(Marketwire - Sept. 2, 2010) - Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT) is pleased to announce that it has identified 2 large rare-earth and niobium anomalies during its soil sampling campaign in the Surprise showing area. The Surprise showing is located in the eastern portion of its rare-earths-yttrium-zirconium Zeus property (see Figure 1:

The first soil anomaly, "Surprise A" on Figure 2 (, is roughly 1.2 km long by more than 200m wide (0.4 km2) and includes the Surprise showing mid-length (yellow star on Figure 2). The Surprise showing was recently stripped and channel sampled, with a best interval of 2m @ 5.3% TREO, 67% of HeavyREO + Y2O3/TREO, 3.6% ZrO2 and 3.9% Nb2O5 (see August 26th press release). The Surprise Nord showing (the other yellow star on figure 2), though smaller, also has its associated soil anomaly. Note, though, that the northern and southern part of the Surprise A anomaly are considered to be only partially explained by the presence of these two showings, which implies the presence of other rare-earth and niobium mineralization in the immediate area.

The second of the large soil anomalies, "Surprise B" on Figure 2, is roughly 1.4 km long by more than 200m wide (0.5 km2). It is located 1 km east of the first anomaly and is of similar intensity (about 4 times background). This sector has not been intensely explored and the presence of a rare-earths-niobium anomaly therefore opens up the possibility of new showings being found in the sector.

Matamec plans to do further work on these anomalies during the course of autumn 2010. Detailed traverses, possibly followed by mechanical trenching, will seek to follow existing mineralizations present at the Surprise and Surprise Nord showings, as well as to discover new showings hidden below the two soil anomalies.

Andre Gauthier, President of Matamec, underlines that "soil sampling is one of the exploration methods that work well in the Kipawa Alkalic Complex. This type of survey gives us valuable information for the planning of future campaigns and they have proven their worth on the Kipawa deposit, the TH showing, and now in the Surprise area."

This is the third set of results released from Matamec's 2010 exploration campaign on its rare earths-yttrium-zirconium Zeus property, which covers much of the Kipawa Alkalic Complex. The 2010 campaign, which ran from May to July 2010, concentrated on the Surprise, TH and Falaises showings and ended with a 2000m drilling campaign on the Kipawa deposit. Once all results are received, hand samples of the showings will be examined by Anthony Mariano, PhD, who will identify the mineral species containing the rare earths, yttrium, zirconium, niobium and tantalum values.

CORRECTIONS TO THE AUGUST 26TH PRESS RELEASE: due to an error during conversion to oxides, Lanthanum (La) values should be ten times higher than those noted on Table 1. This also implies a small decrease in HeavyREO+Y2O3/TREO percentages, from 74 to 70% for the average of all samples and from 73 to 67% for the best interval. A corrected version of the press release is available on the company's web site.

Alex Knox, geologist (P. Geol), and Aline Leclerc, geologist (OGQ) and Vice-President Exploration of Matamec, are qualified persons for the Zeus Project. As qualified persons, they have supervised the preparation of the scientific and technical information for the Zeus property and verified the data in this press release.

Re-issuing stock options to a director

After the maturity dates of stock options expired August 16th, 2010, the Board of Directors took into consideration the fact that, in many past instances, Mr. Laval St-Gelais, director and officer, has had opportunities to sell their stock options and didn't for financing purposes. Based on this fact, the Board has agreed to grant 280,000 stock options at $0.185 each to Laval St-Gelais, for a period of five years as of the last Company Board meeting. These options, as well as the terms and conditions of their exercise, are governed by the Company's Stock Option Plan.

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 Lepérance/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."

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