Matamec Explorations inc.

Matamec Explorations inc.

November 03, 2011 08:00 ET

Matamec: Scoping Study (PEA) 80% Complete on Kipawa Deposit

MONTREAL, QUEBEC--(Marketwire - Nov. 3, 2011) - Matamec Explorations Inc. ("Matamec" or the "Company")(TSX VENTURE:MAT) is pleased to announce that the independent engineering firm Roche has completed 80% of the scoping study (preliminary economic assessment) for the heavy rare earths Kipawa deposit. The results are now being checked and validated and will be published in November.

Andre Gauthier, the President of Matamec, "is pleased with the progress and very encouraged by the preliminary results."

Andre Roy (Eng.), from the engineering firm Roche 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. 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.

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