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MatamecExplorations inc.

TSX VENTURE: MAT

Jun 03, 2010 11:13 ET

Matamec Announces an Increase in All NI 43-101 Resource Categoriesof 300% in the Kipawa Deposit

MONTREAL, QUEBEC--(Marketwire - June 3, 2010) -Matamec Explorations Inc. ("Matamec") (TSXVENTURE:MAT) is proud to announce that it has received fromthe independent firm SGS Canada Inc. – geological department of Geostat("SGS Geostat") the main assay tables from the new NI 43-101 resourcecalculation on the Kipawa Deposit, on the Zeus property.

More specifically described later in this release, SGSGeostat calculated that the Kipawa Deposit contains resources of rareearths-yttrium ("TREO") and of zirconium oxides ("ZrO2"). Theresource has been considered under two scenarios: 1) a resource of rareearths-yttrium with zirconium as a by-product, or 2) a resource ofzirconium with rare earths-yttrium as a by-product.

Scenario 1: TREO Resources with ZrO2by-product
Cut-off grade %	Classification	Tonnes	TREO* %	ZrO2 %	(H+Y)**/ TREO* %
TREO > 0.50	Indicated	2,510,000	0.63	0.88	32
TREO > 0.50	Inferred	4,730,000	0.66	0.97	33
Y2O3 > 0.10	Indicated	3,350,000	0.58	0.89	33
Y2O3 > 0.10	Inferred	6,480,000	0.60	0.99	34

Scenario 2 : ZrO2 resources with TREO by-product
Cut-off grade %	Classifi- cation	Geologic zones	Tonnes	TREO* %	ZrO2 %	(H+Y)**/ TREO* %
ZrO2 > 0,50	Indicated	TREO enriched	6,560,000	0.90	0.46	32
ZrO2 > 0,50	Indicated	ZrO2zones	14,460,000	1.02	0.12	28
ZrO2 > 0,50	Indicated	Total	21,020,000	0.99	0.23	32
ZrO2 > 0,50	Inferred	TREO enriched	10,310,000	0.99	0.51	34
ZrO2 > 0,50	Inferred	ZrO2 zones	7,730,000	1.03	0.12	36
ZrO2 > 0,50	Inferred	Total	18,040,000	1.01	0.34	34

*: TREO contains all rare earth oxides and Y2O3

**: H+Y: Heavy rare earth oxides (HREO) and Y2O3

NOTE: Scenario 1 contains material from Scenario 2 and viceversa. We cannot add the tonnage of the two scenarios.

PRESS RELEASE HIGHLIGHTS

• SGS Geostat modelled the entire mineralized syenite body within the Kipawa complex, and in which it has defined two types of mineralized zones;

• SGS Geostat estimates that the Kipawa Deposit is continuous over a distance of 1.45 kilometres, is 200 metres wide and is 50 metres deep;

• Two types of mineralization are observed in the Kipawa Deposit:

  1. The first type of mineralization is composed of 3 zones enriched in rare earths and yttrium ("TREO") named "Eudialyte zone", "Mosandrite zone" and "Britholite zone". These areas contain zirconium (ZrO2);

  2. The second type of mineralization is composed of zirconium with lower levels of rare earths and yttrium. These areas are interspersed with areas enriched in rare earths and yttrium.

• The Kipawa deposit is located in an area that is easily accessible by road. It is near infrastructures and a well-trained workforce;

• The Kipawa deposit is presently considered open both laterally and at depth;

• The drilling holes completed by Matamec strongly suggest that there is a very good spatial continuity in the Kipawa deposit, both in terms of different lithologies and enriched mineralization in rare earths-yttrium;

• In eight of nine sections examined within the Central Zone, the down-dip drill holes are better mineralized than those up-dip, strongly suggesting potential to encounter still better mineralization down dip from the currently defined deposit. Only one section hosts the opposite tendency.

The Zeus property is located near infrastructure and easilyaccessible by a network of logging roads. It is located 160 kilometressouth of Rouyn-Noranda and 65 kilometres east of the town ofTemiscaming. The property is 100% owned by Matamec and it has 260designated claims covering over 15,300 hectares in the Kipawa alkalinecomplex. It includes the Kipawa deposit (also known as the Sheffieldarea).

Before the new NI 43-101 resource calculation from SGSGeostat, the Kipawa deposit presented historical resources (non NI43-101) yttrium and zirconium in the West Zone (1.26 Mt @ Y2O30.15% and 0.96% ZrO2), in the Central Zone (noresource calculated) and the East Zone (1.009 Mt @ 0.14% and1.17% Y2O3 ZrO2). Thanks to itsfavourable location along a hill, an open pit was already planned forthis deposit in the historic resource calculation of 1990.

Modelling of NI 43-101 resources by SGS Geostat

For the NI 43-101 resource calculation, SGS Geostat used themethod of inverse distance squared. The resource blocks have dimensionsof 10m x 10m x 5m. The drill grid considered for indicated resources is50m. Extrapolated resources over 30m and calculated rare earth values onhistoric drill holes are considered inferred. The database usedconsists of 12 discontinuous trenches (in 55 continuous parts) and 65assays (34 drilled in 1988-1990 by Unocal Canada Ltd., and 31 drilled in2009 by Matamec) totalling 4,416.19 meters drilled. A total of 3133analyzed intervals were used for the calculation.

SGS Geostat modelled the entire mineralized syenite bodywithin the Kipawa deposit of about 1.45 m x 200m x 50m, in which it hasdefined two types of mineralized zones.

SGS Geostat calculated that the Kipawa deposit containsresources of rare earths-yttrium oxides ("TREO") and zirconium oxide(ZrO2). The resource has been calculated under two scenarios:either a resource of rare earth yttrium with a zirconium by-product, aresource of zirconium with a rare earths-yttrium by-product.

Mineralized zones definition for resource modelling

Scenario 1

The first scenario consists of three TREO-enriched areasnamed "Eudialyte zone", "Mosandrite zone" and "Britholite zone" whichalways contain zirconium. These mineralized zones are modelled usinggeological interpretation, mineralogy and rare earth - yttrium values.

• At a cutoff grade of 0.50% TREO SGS Geostat calculated for these three areas indicated resources of 2.51 million t, grading 0.63% TREO with 0.88% ZrO2 oxides et inferred resources of 4.73 million t grading 0.66% TREO with 0.97% ZrO2. In addition, the ratio of HREO Y2O3 + / TREO is 32% in indicated resources and 33% in the inferred resources (see Table 1).

• The first scenario also consists of three TREO areas with a cutoff grade superior to 0.10% Y2O3, SGS Geostat calculated for these three areas indicated resource of 3.35 million t at a grade of 0.58% TREO with 0.89% ZrO2 and inferred resource of 6.48 million t at a grade of 0.60% TREO with 0.99% ZrO2. In addition, the ratio of HREO Y2O3+/ TREO is 33% in indicated resources and 34% in the inferred resources (see Table 2).

Scenario 2

The second scenario is composed of ZrO2 with theTREO as by-product. Both TREO-rich zones and ZrO2 zones areconsidered. These areas are interspersed with areas enriched in TREO.These zones at a cutoff grade of 0.50% ZrO2 are:

• For the TREO enriched zones, SGS Geostat calculated indicated resources of 6.56 million t with a grade of 0.90% ZrO2 and 0.46% TREO and inferred resources of 10.31 million t with a grade of 0.99% ZrO2 – 0.51% TREO. In addition, the ratio of HREO Y2O3 + / TREO is 32% in indicated resources and 34% in the inferred resources;

• For the ZrO2 zones, SGS Geostat calculated indicated resources of 14.46 million t with a grade of 1.02% ZrO2 and 0.12% TREO and inferred resources of 7.73 million t with a grade of 1.03% ZrO2 – 0.12% TREO. In addition, the ratio of HREO Y2O3 + / TREO is 28% in indicated resources and 36% in the inferred resources;

• Both types of mineralization combined give a total tonnage of resources in ZrO2-TREO in the indicated category of 21.02 million t with a grade of 0.99% ZrO2 with 0.23% TREO and in the inferred category of 18.04 million t with a grade of 1.01% ZrO2 with 0.34% TREO. In addition, the ratio of HREO Y2O3 + / TREO is 32% in indicated resources and 34% in the inferred resources (see table 3);

Resources in metric tones

Scenario 1

For the first scenario, at a cutoff grade of 0.50% TREO wefind 15,800 t of TREO including 1,600 t of HREO, 3,500 t of Y2O3and 22,100 t of ZrO2 in the indicated resources, as well as31,200 t of TREO including 3,400 t of HREO, 7,100 t of Y2O3and 45,900 t of ZrO2 (see table 1).

Scenario 2

For the first scenario, which uses a cutoff grade of 0.10% ofY2O3, there are 19,400 t of TREO including 2,000 tof HREO, 4,400 t of Y2O3 and 29,800 t of ZrO2in the indicated resources, as well as 38,900 t of TREO including 4,200t of HREO, 9,100 t of Y2O3 and 64,200 t of ZrO2in inferred resources (see Table 2).

In the TREO enriched zones, 59,000 t of ZrO2 and30,200 t of TREO including 3,200 t of HREO and 6,600 of Y2O3inindicated resources, as well as 102,100 t of ZrO2and 52,600 tof TREO including 5,700 t of HREO and 12,400 t of Y2O3ininferred resources;

In the ZrO2 zones, 147,500 t of ZrO2and17,400 t of TREO including 1,900 t of HREO and 2,900 of Y2O3inindicated resources, as well as 79,600t of ZrO2and 9,300 tof TREO including 1,000 t of HREO and 2,300 t of Y2O3ininferred resources;

In both zones combined, 208,100 t of ZrO2and48,300 t of TREO including 5,000 t of HREO and 10,500 t of Y2O3in indicated resources, as well as 182,200 t of ZrO2and61,300 t of TREO including 6,700 t of HREO and 14,400 t of Y2O3in inferred resources (see table 3);

The breakdown of resources is reflected in the followingthree tables. The resources are presented in two categories: indicatedand inferred at cutoff grade. The table also include in percentage thegrade in light rare earths oxide (LREO), medium rare earth oxides(MREO), heavy rare earth oxide (HREO), of the total of rare earths oxidewith yttrium (TREO), of each individual rare earth, yttrium, zirconium,as well as the corresponding tonnages.

Table 1: SCENARIO 1 - TREO ENRICHED ZONES Indicated and Inferred NI 43-101 Resources at a cut-off of TREO >0.50%
Zone		TREO ENRICHED ZONES
Tonnage		2,510,000		4,730,000
Classification		Indicated %	Indicated t	Inferred %	Inferred t
La2O3	Lanthanum	0.091	2,300	0.092	4,400
Ce2O3	Cerium	0.19	4,800	0.19	9,000
Pr2O3	Praseodymium	0.023	600	0.023	1,100
Nd2O3	Neodymium	0.09	2,300	0.09	4,300
LREO*	Light rare earth oxides	0.39	9,800	0.39	18,400
Sm2O3	Samarium	0.019	500	0.019	900
Eu2O3	Europium	0.002	100	0.003	100
Gd2O3	Gadolinium	0.019	500	0.020	900
MREO*	Medium rare earth oxides	0.040	1,000	0.042	2,000
Tb2O3	Terbium	0.004	100	0.004	200
Dy2O3	Dysprosium	0.023	600	0.025	1,200
Ho2O3	Holmium	0.005	100	0.005	200
Er2O3	Erbium	0.015	400	0.017	800
Tm2O3	Thulium	0.002	100	0.003	100
Yb2O3	Ytterbium	0.013	300	0.015	700
Lu2O3	Lutetium	0.002	100	0.002	100
HREO*	Heavy rare earth oxides	0.063	1,600	0.071	3,400
Y2O3	Yttrium	0.14	3,500	0.15	7,100
HREO + Y2O3		0.20	5,100	0.22	10,500
TREO*	Total rare earth oxides	0.63	15,800	0.66	31,200
Zr2O2	Zirconium	0.88	22,100	0.97	45,900
* LREO: Light (or Ceric) Rare Earth Oxides = La2O3 to Nd2O3 MREO : Medium Rare Earth Oxides = Sm2O3 to Gd2O3 HREO: Heavy (or Yttric) Rare Earth Oxides = Tb2O3 to Lu2O3 TREO: Total Rare Earth Oxides = LREO + MREO + HREO + Y2O3
N.B.: Subdivision used by Roskill Information Services Ltd. and Industrial Minerals Company of Australia Pty Ltd.

Table 2: SCENARIO 1 - TREO ENRICHED ZONES Indicated and Inferred NI 43-101 Resources at a cut-off of Y2O3 >0.10%
Zone	TREO ENRICHED ZONE
Tonnage	3,350,000		6,480,000
Classification	Indicated %	Indicated t	Inferred %	Inferred t
La2O3	0.082	2,700	0.084	5,400
Ce2O3	0.17	5,700	0.17	11,000
Pr2O3	0.021	700	0.021	1,400
Nd2O3	0.08	2,700	0.08	5,200
LREO*	0.35	11,700	0.36	23,300
Sm2O3	0.018	600	0.018	1,200
Eu2O3	0.002	100	0.002	100
Gd2O3	0.018	600	0.018	1,200
MREO*	0.038	1,300	0.039	2,500
Tb2O3	0.003	100	0.003	200
Dy2O3	0.021	700	0.005	1,500
Ho2O3	0.005	200	0.016	300
Er2O3	0.015	500	0.002	1,000
Tm2O3	0.002	100	0.014	100
Yb2O3	0.013	400	0.002	900
Lu2O3	0.002	100	0.002	100
HREO*	0.061	2,000	0.065	4,200
Y2O3	0.13	4,400	0.14	9,100
HREO + Y2O3	0.19	6,400	0.21	13,300
TREO*	0.58	19,400	0.60	38,900
Zr2O2	0.89	29,800	0.99	64,200
* LREO: Light (or Ceric) Rare Earth Oxides = La2O3 to Nd2O3 MREO : Medium Rare Earth Oxides = Sm2O3 to Gd2O3 HREO: Heavy (or Yttric) Rare Earth Oxides = Tb2O3 to Lu2O3 TREO: Total Rare Earth Oxides = LREO + MREO + HREO + Y2O3
N.B.: Subdivision used by Roskill Information Services Ltd. and Industrial Minerals Company of Australia Pty Ltd.

Table 3: SCENARIO 2 - ZrO2ZONES Indicated and Inferred NI 43-101 Resources at a cut-off of ZrO2>0.50%
Zone	TREO ENRICHED ZONE				ZIRCONIUM ZONE				ALL ZONES
Tonnage	6,560,000		10,310,000		14,460,000		7,730,000		21,020,000		18,040,000
Classification	Indicated		Inferred		Indicated		Inferred		Indicated		Inferred
	%	t	%	t	%	t	%	t	%	t	%	t
La2O3	0.065	4,300	0.071	7,300	0.018	2,600	0.018	1,400	0.032	6,700	0.048	8,700
Ce2O3	0.13	8,500	0.15	15,500	0.04	5,800	0.04	3,100	0.07	14,700	0.10	18,000
Pr2O3	0.017	1,100	0.018	1,900	0.004	600	0.005	400	0.008	1,700	0.012	2,200
Nd2O3	0.06	3,900	0.07	7,200	0.02	2,900	0.02	1,500	0.03	6,300	0.05	9,000
LREO	0.28	18,400	0.30	30,900	0.07	10,100	0.08	6,200	0.14	29,400	0.21	37,900
Sm2O3	0.014	900	0.015	1,500	0.004	600	0.004	300	0.007	1,500	0.010	1,800
Eu2O3	0.002	100	0.002	200	0.000	-	0.000	-	0.001	210	0.001	200
Gd2O3	0.014	900	0.015	1,500	0.003	400	0.004	300	0.007	1,500	0.010	1,800
MREO*	0.030	2,000	0.033	3,400	0.007	1,000	0.008	600	0.014	2,900	0.022	4,000
Tb2O3	0.003	200	0.003	300	0.001	100	0.001	100	0.001	200	0.002	400
Dy2O3	0.017	1,100	0.019	2,000	0.004	600	0.004	300	0.008	1,700	0.013	2,300
Ho2O3	0.004	300	0.004	400	0.001	100	0.001	100	0.002	400	0.003	500
Er2O3	0.012	800	0.013	1,300	0.003	400	0.003	200	0.006	1,300	0.009	1,600
Tm2O3	0.002	100	0.002	200	0.000	-	0.001	100	0.001	200	0.001	200
Yb2O3	0.011	700	0.012	1,200	0.004	600	0.004	300	0.006	1,300	0.009	1,600
Lu2O3	0.0001	100	0.002	200	0.001	100	0.001	100	0.001	200	0.001	200
HREO*	0.049	3,200	0.055	5,700	0.013	1,900	0.013	1,000	0.024	5,000	0.037	6,700
Y2O3	0.10	6,600	0.12	12,400	0.02	2,900	0.03	2,300	0.05	10,500	0.08	14,400
HREO + Y2O3	0.149	9,800	0.175	18,100	0.033	4,800	0.043	3,300	0.074	15,500	0.117	21,100
TREO*	0.46	30,200	0.51	52,600	0.12	17,400	0.12	9,300	0.23	48,300	0.34	61,300
Zr2O2	0.90	59,000	0.99	102,100	1.02	147,500	1.03	79,600	0.99	208,100	1.01	182,200
* LREO: Light (or Ceric) Rare Earth Oxides = La2O3 to Nd2O3 MREO : Medium Rare Earth Oxides = Sm2O3 to Gd2O3 HREO: Heavy (or Yttric) Rare Earth Oxides = Tb2O3 to Lu2O3 TREO: Total Rare Earth Oxides = LREO + MREO + HREO + Y2O3
N.B.: Subdivision used by Roskill Information Services Ltd. and Industrial Minerals Company of Australia Pty Ltd.

In conjunction with the campaign of 31 assay holes completedin November-December 2009 by Matamec, SGS Geostat was commissioned toproduce a NI 43-101 resource calculation report. The full reportincluding all tables will be available on SEDAR within 45 days.

Yann Camus (Eng.) engineer for the independent firm SGSCanada Inc. - geological group Geostat ("SGS Geostat ") is the qualifiedperson under NI 43-101 standards, which supervised the preparation ofthe resource estimate. Aline Leclerc (geo) and Vice-PresidentExploration of Matamec, qualified person under NI 43-101 standards forthe project Zeus, oversaw the preparation of the scientific andtechnical information. Together, they have verified the information inthis press release.

Andre Gauthier, President of Matamec, commented: "We are verypleased with the new resource Calculations, which has increased thesize of all NI 43-101 Resource Categories by 300 percent. The deposit ispresently considered open both laterally and at depth giving excellentpotential for additional mineralization. We are very encouraged by ourprogress on the Kipawa deposit and feel that Matamec shareholders canlook forward to a positive year as Matamec continues to explore anddevelop this exceptional mineralized system".

About Matamec

Matamec explores for significant golddeposits in the Timmins mining camp in Ontario of which the MathesonProperty (with Goldcorp as partner) is the main target. In Quebec, theCompany explores for precious and base metals on its Sakami, Valmont andVulcain Properties. As well, Matamec is exploring for gold togetherwith Northern Superior Resources Inc. on its Lespérance/WachigabauProperty.

Concurrently with the above mentioned exploration programs,Matamec's Quebec Tansim Property is also being explored for rare metalssuch as tantalum and lithium.

"Neither TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease."

For more information, please contact

Matamec Explorations Inc.
Andre Gauthier
President
514-844-5252
[e-mail]
www.matamec.com