Matamec Explorations inc.
TSX VENTURE : MAT

Matamec Explorations inc.

December 07, 2006 15:33 ET

Uranium on Matamec Zeus Property

MONTREAL, QUEBEC--(CCNMatthews - Dec. 7, 2006) - Matamec Explorations Inc. ("Matamec")(TSX VENTURE:MAT) announces that previous exploration on the Zeus property has revealed uranium. This property is situated approximately 100 km South of Rouyn-Noranda, comprises more than 9,500 hectares. At present, the area is the focus of exploration for uranium and uranium-gold by Aurizon Mines and Noront-Globex. In conjunction with Aurizon Mines and Noront-Globex, Matamec holds one of the largest land positions in the area.

The property covers a large part of the Kipawa peralkaline complex, intrusive origin. This complex was set up in the precambrian rocks of Grenville's province. In contact with this complex, the property includes segments of paragneiss which consists of a quartzite and a muscovite gneiss with minor marble quantities, as well as gneisses with quartz-feldspar, with quartz-feldspar-muscovite and with quartz-feldspar-biotite, possibly igneous origin (see figure 1 at: http://www.ccnmatthews.com/docs/mata_figure1.pdf).

Between 1957 and 1989, the area was targeted for the exploration of uranium and in particular for rare metals and rare earths between 1985-1991. Several showings were discovered and numerous targets have remained unexplored.

In the region, the geology is favourable for the discovery of gold mineralization associated with uranium in quartzite such as at the Hunters Point and Hunters Point 2 showings of Noront-Globex where values of up to 7.7 % U3O8 and 1.12 oz/t Au were reported in certain samples. After discovering a regional anomaly for gold following a geochemical compilation on stream sediments, Aurizon Mines began an exploration program targeting associated U-Au mineralization. A radiometric-Mag-EM geophysic airborne survey was completed last summer and sectors were targeted for till sampling. In its September 12, 2006 press release, Aurizon Mines announced that it identified four distinct gold dispersion trains with values ranging from 1.1 to 7.2 g/t Au in heavy metals concentrates. One of the trails follows a quartzite unit more than 15 km long which is partially on the Matamec property (see figure 2 at: http://www.ccnmatthews.com/docs/mata_figure2.pdf).

On the property, we found mineralization in uranium by trenching which has revealed 1,700 ppm U over 7 metres (Source : Quebec MRNF-Sigeom 2006-SNRC 31L15-L16). Also, several radioactive outcrops were identified on the property, and a radiometric survey did by Unocal in the '80 shows several anomalous zones. The thickness of the glacial covering in the area may be responsible for the apparent discontinuity of those anomalies. Furthermore, several showings and mineralized zones (for example Sheffield Lake-2) in rare metals and rare earths have been recognized in the past (see figure 1).

In addition to the Zeus property, Matamec is currently evaluating its Sakami and Tansim properties for their potential in uranium. Considering its focus on gold-bearing property, the company is in search of potential partners for its uranium projects.

This press release was prepared by Aline Leclerc, geologist and Exploration vice-president of the company.

About Matamec

Matamec is a mining exploration company which has a focus on the exploration of properties for gold deposits in the East Timmins mining camp. In particular, it has options to acquire interests in the Matheson and Montclerg properties. Furthermore, it holds a 100% interest in 6 exploration properties in Quebec for gold, uranium, other metals and minerals.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Matamec Explorations inc.
    Andre Gauthier
    President
    514-448-5183
    or
    Matamec Explorations inc.
    Michael D'Amico
    Investor Relations
    647-500-6023
    info@matamec.com
    www.matamec.com