Matamec Explorations inc.

Matamec Explorations inc.

October 23, 2012 08:48 ET

Mr. Raynald Vezina Joins Matamec's Board of Directors

MONTREAL, QUEBEC--(Marketwire - Oct. 23, 2012) - Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT)(OTCQX:MHREF) is pleased to announce the appointment of Mr. Raynald Vézina, mining engineer, to the Board of Directors of the Company.

Andre Gauthier, President of Matamec, says: "with this addition, the Board has a mining engineer in its ranks. The Company is now in the feasibility study phase for the heavy rare earths Kipawa deposit in partnership with the Japanese company TRECan. Decisions made by the Company in the next year about the possibility of developing the Kipawa deposit to production will benefit from his depth of experience in the construction and mining production of precious and base metals and industrial minerals, such as rare metal niobium. On behalf of the Board and shareholders, I would like to welcome Mr. Vézina. "

Mr. Vézina obtained his degree in mining engineering from Quebec City's Laval University in 1970. He has since then served in several positions related to the construction and extraction of gold, copper, zinc and niobium mines. He began his career at the Opemiska division of Corporation Falconbridge Copper Ltd in various positions within the engineering and operations department, including assistant manager of the mine. In 1978, he became general superintendent of operations and contributed to the development and production of the Corbet Mine at the Lac Duffault Division.

From 1980 to 1988, he was appointed General Manager of Kiena Gold Mines, owned by Falconbridge Nickel Ltd.. He was involved with the construction and production of the mine, and the processing plant. In 1988, he joined Cambior Inc. as Senior Vice President - Canada. He was managing operations of 4 to 8 mines extracting gold, copper, zinc and niobium. He participated in the evaluation, construction and production of five new mines in Canada.

He has also conducted technical and feasibility studies of various international mining projects. Specifically in the field of industrial minerals, he participated in the production and marketing of Niobec'c Quebec niobium mine, as well as the construction of the converter niobium / Ferro-niobium and expansion of the mine and concentrator.

Since 2004, Mr. Vézina has worked on the evaluation of several mines and projects in North and South America as a mining engineer consultant. Also, he has conducted the review of mining operations and made recommendations to improve productivity and performance.

M. Vézina is a member of the "Ordre des Ingénieurs du Québec" and a Fellow of the Canadian Institute of Mining. During his career, he has held various positions in many organizations related to mining in Canada and Quebec, including MISA from 2003-2012. He is currently a member of the Board of Directors of the Company Maudore Minerals Ltd. (TSX-V: MAO) since July 2012.

According to Company policies, the Board of Directors granted 400,000 stock options to Mr. Vézina at an exercise price of $ 0.16 per share for a period of 5 years. Terms as conditions of exercise are regulated by the Stock Option Plan to purchase shares of the Company.

About Matamec

Matamec Explorations Inc. is a junior mining exploration company whose main focus is in developing the Kipawa HREE deposit with Toyotsu Rare Earth Canada, Inc. ("TRECan"). Following the positive conclusion of the PEA study filed on SEDAR in March 2012 and the hiring of a V-P Project development and Construction, Matamec and TRECan decided to move directly to the feasibility study. The March 2012 press release highlighted that the project has robust economics such as: $606 million before-tax value (NPV8%), a 36.9% before-tax IRR, $2.8 billion revenue, $1.67 billion EBITDA, a before-tax payback period of 2.4 years, etc. (see press release dated January 30, 2012).

In parallel, the Company is 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.

"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."

Contact Information