Matamec Explorations inc.

Matamec Explorations inc.

March 23, 2017 08:07 ET

Matamec provides an update on the Kipawa Rare Earths Project

Innovation activities are underway to optimize processes, minimize environmental footprint and improve overall project efficiency

MONTRÉAL, QUÉBEC--(Marketwired - March 23, 2017) - Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT)(OTCQB:MHREF) is very pleased to provide a progress update on the flagship Kipawa project, a rare earths deposit enriched in heavies. Since 2015, Matamec has been focused on research to develop innovative methods to improve and optimize the mining and processing at Kipawa. These activities are summarized in the diagram below.

Kipawa Innovation Diagram:

"We have had the pleasure over the past couple of years to partner with leading universities and research centres to look into ways to improve the Kipawa Project," said André Gauthier, President and CEO of Matamec. "It's exciting to see the results of so much hard work from so many teams coming together. We expect to be able to share more details about some of our recent innovations over the coming weeks and months."

Matamec's primary goal is to improve the overall project efficiency. It is pursuing this objective on numerous fronts, working with several groups of researchers in their different fields of expertise (see figure above). Research is being done to broaden the geological and mineralogical knowledge and characteristics of the Kipawa deposit, and to improve the accuracy of the modelling and estimation of the rare earth resources at Kipawa, as well as to evaluate the suitability of selective mining for the project.

In terms of metallurgy, testwork is underway to explore the possibility of utilizing flotation and ore sorting in the beneficiation process. New and innovative metallurgical processes are being reviewed and tested, particularly for increasing rare earth recoveries, and for rejecting impurities. A new research project focusing on the separation of rare earth elements will begin shortly as well.

Another important objective for the company is to minimize the project's environmental footprint. With this in mind, researchers are evaluating possible ways to generate the most stable form of tailings from Kipawa. In addition, we are investigating the production of potential by-products generated during the various metallurgical processes.

Finally, in parallel with the planning of the second mini-pilot plant, a new revision of the Demonstration Pilot Plant is being designed for Kipawa, incorporating all the positive results obtained from the aforementioned innovative activities.

Eliza Ngai, M.Eng, P.Eng, Metallurgist of the Company for the Kipawa project, is the qualified person according to the NI 43-101 standard, and is responsible for the technical content of this press release.

About Matamec

Located in Montreal (Québec), Matamec Explorations Inc. is a junior mining exploration company in which activities are based on two main axes of development: gold, and key elements for technologies related to energy with properties containing, among others, lithium (Tansim-100% owned), Cobalt (Fabre-100% owned), nickel (Vulcain-100% owned) and rare earths (Kipawa-72% owned).

Matamec's main focus is the development of the Kipawa Heavy Rare Earth Elements (HREE) deposit, a joint venture owned at 72% by Matamec and 28% by Ressources Québec (acting as agent of the Government of Québec); Toyota Tsusho Corp. (Nagoya, Japan) holds a 10% royalty on net profit in the deposit.

In addition to the activities in energy sector, Matamec is exploring for gold, with three properties: HMR (1% NSR), Matheson JV (50% owned) and Pelangio (100% owned), located in the area of the Hoyle Pond Mine in Timmins (Ontario), as well as two in the Quebec Plan Nord region. These include Sakami (50% owned) and Opinaca Gold West (100% owned) properties in similar geological settings as the Éléonore Mine in James Bay (Québec).

Map showing location of Matamec Gold and Energy Properties:

Forward-looking information

This news release contains "forward-looking information" within the meaning of Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "scheduled", "anticipates", "expects" or "does not expect", "pursue", "targeted", or "believes", or variations of such words and phrases that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Although Matamec has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to, the uncertainty as to whether the Kipawa JV will decide to extract minerals from the Kipawa Deposit, as well as those other risk factors set out in the Company's year-end Management Discussion and Analysis dated December 31, 2015 and other disclosure documents available under the Company's profile at Forward-looking statements contained herein are made as of the date of this press release and Matamec disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

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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