Matamec Yields Overall Recoveries of Rare Earths of About 81% from Eudialyte Zone of the Kipawa Deposit

MONTREAL, QUEBEC--(Marketwire - March 8, 2011) - Matamec Explorations Inc. ("Matamec" or the "Company")(TSX VENTURE:MAT) is pleased to announce the results of its metallurgical test work to recover of the rare earth and zirconium values from the Eudialyte zone of its Kipawa deposit on the Zeus property.

A physical method developed at SGS Mineral Services laboratory in Lakefield, Ontario has been able to concentrate 92.8% of the yttrium values into 52.8% of the original ore mass. This method incorporates the use of dry permanent magnetic separation technology and eliminates the use of an expensive dewatering step. Work is continuing to optimize this process and further reduce operating costs. The concentration step combined with Matamec's proprietary leaching method yields overall recoveries of Rare Earths of about 81%.

Andre Gauthier, president of Matamec notes that "these tests are part of Matamec's strategy to come up with a way to find a low-cost process for rare earths in order to be able to compete with the way heavy rare earths are currently exploited. These recent metallurgical tests have increased our confidence, and thus we will accelerate the pace to meet Matamec's timetable. The high value Kipawa deposit could be developed in a timely, compact and inexpensive fashion."

Les Heymann (P.Eng) is Matamec's Qualified Person for this press release.

About Matamec

Other than its focus on the development of the Kipawa deposit and exploration for other showings of rare earths-yttrium-zirconium-niobium-tantalum on its Zeus property, Matamec's exploration strategy is to discover gold deposits, base metals and platinum group, as well as rare metals.

For gold, the company explores in the prolific mining camp of Timmins, Ontario, of which the main target is the Matheson.

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.