Matamec Intersects 0.73% TREO (40% HREO+Y2O3) Over 18.8 Metres on its Kipawa HREO-Y-Zr Deposit

Matamec Intersects 0.73% TREO (40% HREO+Y2O3) Over 18.8 Metres on its Kipawa HREO-Y-Zr Deposit

Matamec Explorations Inc. is pleased to announce that assay results have been received for a further seventeen DDH on its 2010-2011 diamond drilling program on the Kipawa HREE-Y-Zr deposit in western Quebec. All preliminary results for this campaign have now been received.

The drill program started on December 1, 2010 and ended on February 8, 2011 for a total of 3,332 meters drilled. Its main objective was to upgrade the resource, moving the majority of inferred resources into the indicated category.

Of the 42 DDH of the campaign, full results have been received for the first 13 holes (see the January 27th and February 10th press releases), and partial results have been received for a further 29 DDH, including this last batch of 17 DDH. All are well mineralized with both eudialyte and mosandrite.

Andre Gauthier, Matamec’s president, comments that: “Overall, we’ve received much better grades than expected in the West Zone, which we’re confident will increase our metal tonnage, and we’ve roughly maintained the grade and tonnage we had in the Central and East Zones. All that and indicated resources over the majority of the deposit makes for a very successful winter 2010-2011 campaign on the Kipawa deposit of the Zeus property.”

The drilling results set out above are preliminary, as some of the REE and zirconium analyses exceeded the limits of the analytical methods (marked by a “greater than ” in the table). Full results will be released when they become available.

Upon receipt of final 2010-2011 assay results, a new 43-101 resource estimate will be completed by SGS Geostat using the new data. Matamec’s next drilling campaign on the Zeus property, set to begin in summer 2010, will aim to better define the extensions of the deposit.

QAQC procedures

Matamec maintains a quality control program conforming to the industry’s best practices. The NQ core is split, with one half kept as a witness at our Val d’Or facilities. Samples are then submitted in batches of 25, each containing two known standards and one blank, to the ALS Chemex (“ALS”) preparation facility in Val d’Or where the samples are reduced to pulps and couriered to ALS in Vancouver (B.C.) for analysis. The samples are dissolved using a lithium metaborate fusion before being analysed by ICP-MS methods on a 2 gram sample size, with overlimits handled either by ICP-MS on a dilute solution, in the case of rare earths, or by XRF, in the case of zirconium. The samples and core are managed in a secure location until delivered to ALS. ALS maintains ISO 17025 certification, the highest accreditation available for QA/QC.

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