Matamec Explorations Inc.: Preliminary Economic Assessment (Scoping Study) on Kipawa Deposit is Progressing

MONTREAL, QUEBEC--(Marketwire - Dec. 6, 2011) - Matamec Explorations Inc. ("Matamec" or the "Company")(TSX VENTURE:MAT) is pleased to announce that the independent engineering firm Roche and the independent firm SGS Canada Inc. - geological group Geostat ("SGS Geostat ") has almost completed the preliminary economic assessment (scoping study) for the heavy rare earths Kipawa deposit. The study consists of 14 parts of which the last four need to be completed (see table below). The results are now being checked and validated and will be published soon.

Andre Gauthier, the President of Matamec, "is very encouraged by the preliminary results."

Andre Roy (Eng.), from the engineering firm Roche, Yann Camus (Eng.), engineer for the independent firm SGS Canada Inc. - geological group Geostat ("SGS Geostat "), and Robert Crepeau (Eng.), an independent consultant for Matamec, are the qualified persons supervising the technical results according to NI 43-101 regulation.

About Matamec

Matamec Explorations Inc is a junior mining exploration company whose main focus is in developing the heavy rare earths Kipawa deposit and exploring more than 35 km 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. It is also exploring for gold with Northern Superior Resources Inc. on the Lesperance/Wachigabau property.