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Matamec Explorations Inc.: Final Results Received on Summer Drilling Program at HREE Kipawa Deposit, SGS-Geostat to Update Resources This Fall

MONTREAL, QUEBEC--(Marketwire - Nov. 11, 2010) - Matamec Explorations Inc. ("Matamec" or the "Company")(TSX VENTURE:MAT - News) is pleased to announce that it has received all analytical results from its summer drilling campaign on the rare earths-yttrium-zirconium (REE-Y-Zr) Kipawa deposit, located within the Zeus property in western Quebec (see our September 23rd press release). All enriched TREO zones and all zirconium-TREO zones are presented in Table 1 and 2 below. All drill holes contain mineralized zone(s) of either TREO and/or zirconium.Press Release Highlights- 20 holes totalling more than 2,115 meters were completed this summer on the central and eastern part of the REE-Y-Zr Kipawa deposit;- The Kipawa deposit is considered both open laterally and at depth;- An update resource calculation is presently in progress at SGS-Geostat;- A second drilling campaign is scheduled for Fall 2010 to improve the quality of the resources and test the lateral extensions of the Kipawa deposit;- In September, Matamec's team prospected the lateral extensions of the deposit and other sectors of the Zeus property.The Summer 2010 campaign consisted of 20 holes numbered KM-62 to KM-81 (green squares on Figure 1), totalling 2,115 meters. Note that on Figure 1, the blue outline delineates resources calculated by the independent firm SGS Canada Inc. - Geological Group Geostat after the 2009 drilling campaign (press release dated June 3, 2010). Now that all overlimit re-analysis have been received (Table 1 and 2), a new resource calculation is underway through the offices of that same firm.Andre Gauthier, President of Matamec, emphasizes that "results from these 20 new drill holes is likely to increase resources".This is the seventh set of results released from Matamec's 2010 exploration campaign on its rare earths-yttrium-zirconium Zeus property, which covers much of the Kipawa Alkalic Complex. In addition to the drilling campaign described here, the 2010 campaign also included exploration around the TH showing (see September 20th press release), the Surprise showing (see August 19th, August 26th and September 2nd, 2010 press releases), the Falaises showing (see October 5th) and the PB area.During the September exploration campaign that followed the drilling program, Matamec also prospected the North-West and South-East extensions of the deposit (via manual trenching, limited channel sampling and B-Horizon soil sampling) and visited prospective locations on the property at large. A second drilling campaign is scheduled for Fall 2010 to improve the quality of the resources and test the lateral extensions of the Kipawa deposit;Table 1: Enriched TREO-Zr ZonesTable 1 shows TREO-enriched zones for all drill holes, as defined by a 0.1% Y2O3 cut-off. Mineralized zones range from 0.293 to 1.608% TREO and from 0.382 to 2.26% ZrO2 over thicknesses ranging from 0.4 to 16.5 meters. These intersections contain from 19% to 65% HeavyREO + Y2O3/ TREO.




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Table 1
TREO Final Analyses Results
Summer Drilling Campaign of 2010 on the Kipawa Deposit
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From To Width ZrO2 (i)LREO
Drill Hole (m) (m) (m) (%) (%)
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KM62
--------------------------------------------------
Includ. 29.1 33.6 4.55 0.843 0.318
--------------------------------------------------
Includ. 51.22 53.15 1.93 1.205 0.251
--------------------------------------------------
Includ. 55.2 58.75 3.55 1.215 0.083
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KM63
--------------------------------------------------
Includ. 37 39 2 0.49 0.562
--------------------------------------------------
Includ. 42 43.6 1.6 0.861 0.391
--------------------------------------------------
Includ. 51.4 53.55 2.15 1.262 0.371
--------------------------------------------------
Includ. 104.45 107.2 2.75 0.736 0.354
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KM64
--------------------------------------------------
Includ. 26.33 28.07 1.74 0.809 0.68
--------------------------------------------------
Includ. 30.3 34.45 4.15 0.737 0.54
--------------------------------------------------
Includ. 38.6 40.95 2.35 0.838 0.307
--------------------------------------------------
Includ. 92.6 98.65 6.05 0.383 0.565
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KM65
--------------------------------------------------
Includ. 37.15 40.05 2.9 0.769 0.472
--------------------------------------------------
Includ. 44.22 47.7 3.48 1.084 0.401
--------------------------------------------------
Includ. 78 79,5 1.5 1.351 0.233
--------------------------------------------------
Includ. 85.5 88 2.5 0.729 0.317
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KM66 39.2 41.3 2.1 1.324 0.415
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KM67 33.05 39 5.95 0.899 0.303
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KM68 96 96.4 0.4 0.382 0.421
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KM69
--------------------------------------------------
Includ. 44.1 48.5 4.4 0.7 0.388
--------------------------------------------------
Includ. 94.15 95.7 1.55 0.177 0.49
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KM70 58.95 62.85 3.9 1.751 0.16
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KM71 107.3 108 0.7 1.351 0.263
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KM72 47.51 48.4 0.89 1.092 0.228
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KM73 35.45 37.75 2.3 0.447 0.629
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KM74
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Includ. 30.35 36.5 6.15 0.638 0.347
--------------------------------------------------
Includ. 51 54.05 3.05 0.764 1.204
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KM75
--------------------------------------------------
Includ. 49.5 51.35 1.85 0.446 0.374
--------------------------------------------------
Includ. 54.55 57.65 3.1 2.26 0.155
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KM77 85 86.35 1.35 0.841 0.093
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KM78 23.95 40.4 16.45 0.817 0.525
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KM79 45.6 53.3 7.7 1.259 0.316
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KM81
--------------------------------------------------
Includ. 25.25 29.35 4.1 1.264 0.391
--------------------------------------------------
Includ. 47.85 49.75 1.9 0.962 0.45
--------------------------------------------------
Includ. 62.05 64.7 2.65 0.879 0.739
--------------------------------------------------
Includ. 102 104.9 2.9 0.574 0.469
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Table 1
TREO Final Analyses Results
Summer Drilling Campaign of 2010 on the Kipawa Deposit
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% HREO
(ii)MREO (iii)HREO Y2O3 (iv)TREO +Y2O3/
Drill Hole (%) (%) (%) (%) TREO
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KM62
--------------------------------------------------
Includ. 0.03 0.047 0.098 0.494 29
--------------------------------------------------
Includ. 0.035 0.085 0.163 0.534 46
--------------------------------------------------
Includ. 0.02 0.07 0.119 0.293 65
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KM63
--------------------------------------------------
Includ. 0.048 0.048 0.112 0.769 21
--------------------------------------------------
Includ. 0.038 0.069 0.135 0.633 32
--------------------------------------------------
Includ. 0.055 0.132 0.246 0.804 47
--------------------------------------------------
Includ. 0.03 0.062 0.154 0.6 36
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KM64
--------------------------------------------------
Includ. 0.097 0.169 0.415 1.361 43
--------------------------------------------------
Includ. 0.046 0.058 0.117 0.761 23
--------------------------------------------------
Includ. 0.032 0.055 0.118 0.512 34
--------------------------------------------------
Includ. 0.062 0.106 0.25 0.983 36
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KM65
--------------------------------------------------
Includ. 0.045 0.073 0.164 0.754 31
--------------------------------------------------
Includ. 0.061 0.167 0.319 0.948 51
--------------------------------------------------
Includ. 0.029 0.058 0.135 0.455 42
--------------------------------------------------
Includ. 0.026 0.048 0.105 0.495 31
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KM66 0.069 0.199 0.364 1.046 54
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KM67 0.032 0.049 0.10 0.484 31
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KM68 0.035 0.051 0.101 0.608 25
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KM69
--------------------------------------------------
Includ. 0.039 0.062 0.131 0.62 31
--------------------------------------------------
Includ. 0.051 0.07 0.165 0.775 30
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KM70 0.028 0.074 0.136 0.398 53
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KM71 0.043 0.124 0.289 0.719 57
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KM72 0.033 0.086 0.143 0.491 47
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KM73 0.055 0.068 0.135 0.887 23
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KM74
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Includ. 0.035 0.057 0.139 0.578 34
--------------------------------------------------
Includ. 0.096 0.110 0.198 1.608 19
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KM75
--------------------------------------------------
Includ. 0.034 0.056 0.121 0.586 30
--------------------------------------------------
Includ. 0.025 0.069 0.126 0.375 52
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KM77 0.021 0.058 0.112 0.284 60
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KM78 0.064 0.11 0.255 0.954 38
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KM79 0.042 0.098 0.197 0.653 45
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KM81
--------------------------------------------------
Includ. 0.051 0.095 0.185 0.722 39
--------------------------------------------------
Includ. 0.047 0.086 0.168 0.75 34
--------------------------------------------------
Includ. 0.083 0.194 0.350 1.366 40
--------------------------------------------------
Includ. 0.039 0.063 0.15 0.721 30
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(i) LREO: Light rare earths in oxides = La2O3 to Nd2O3.
(ii)MREO: Medium rare earths in oxides = Sm2O3 to Gd2O3.
(iii)HREO: Heavy rare earths in oxides = Tb2O3 to Lu2O3.
(iv)TREO: Total Rare Earth Oxides = LREO + MREO + HREO + Y2O3.
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Sub-divisions used by Roskill Information Services Ltd. and Industrial
Minerals Company of Australia Pty Ltd.
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Table 2: Zirconium-TREO ZoneTable 2 shows all the results of the drills holes for the Zirconim-TREO zone of the deposit. In this second table ZrO2 defined zone using a 0.5% ZrO2 cut-off, all drill holes contain Zirconium-TREO mineralized zones, ranging from 0.528 to 1.682% ZrO2 and from 0.027 to 0.681% TREO over thicknesses ranging from 2.6 to 81.7 meters. These intersections contain from 11 to 69% HeavyREO + Y2O3/ TREO.Please note that these zones are not exclusive of those listed in table 1: the TREO-enriched zones of that table are almost always included within the thicker zirconium zones described here. The two should not be added together.




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Table 2
Zirconium Final Analyses Results
Summer Drilling Campaign of 2010 on the Kipawa Deposit
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From To Width ZrO2 (i)LREO
Drill Hole (m) (m) (m) (%) (%)
---------------------------------------------------------------------------
KM62
--------------------------------------------------
Includ. 19.6 47.0 27.4 0.829 0.164
--------------------------------------------------
Includ. 51.2 62.0 10.7 1.247 0.092
--------------------------------------------------
Includ. 70.5 73.7 3.2 1.174 0.021
--------------------------------------------------
Includ. 76.5 100.9 24.4 1.103 0.064
--------------------------------------------------
Includ. 103.5 107.4 3.9 1.058 0.129
---------------------------------------------------------------------------
KM63
--------------------------------------------------
Includ. 18.0 25.5 7.5 0.728 0.156
--------------------------------------------------
Includ. 29.6 45.0 15.4 0.785 0.249
--------------------------------------------------
Includ. 48.1 53.6 5.5 1.024 0.175
--------------------------------------------------
Includ. 58.5 107.2 48.7 1.245 0.062
---------------------------------------------------------------------------
KM64
--------------------------------------------------
Includ. 18.8 22.6 3.7 1.106 0.052
--------------------------------------------------
Includ. 25.3 96.0 70.7 0.802 0.220
---------------------------------------------------------------------------
KM65
--------------------------------------------------
Includ. 16.3 40.1 23.8 0.850 0.199
--------------------------------------------------
Includ. 42.8 50.5 7.6 1.334 0.225
--------------------------------------------------
Includ. 57.0 91.0 34.0 1.146 0.079
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KM66
--------------------------------------------------
Includ. 25.2 61.7 36.6 1.055 0.124
--------------------------------------------------
Includ. 67.5 91.5 24.0 1.002 0.108
---------------------------------------------------------------------------
KM67
--------------------------------------------------
Includ. 20.7 55.0 34.4 1.013 0.136
--------------------------------------------------
Includ. 58.5 87.0 28.5 1.026 0.095
---------------------------------------------------------------------------
KM68 Includ. Includ.
--------------------------------------------------
48.0 58.0 10.0 1.061 0.096
--------------------------------------------------
81.0 95.4 14.4 1.314 0.055
---------------------------------------------------------------------------
KM69
--------------------------------------------------
Includ. 28.1 31.5 3.4 0.594 0.064
--------------------------------------------------
Includ. 44.1 65.4 21.3 0.956 0.139
--------------------------------------------------
Includ. 83.0 93.3 10.3 1.577 0.058
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KM70
--------------------------------------------------
Includ. 47.5 52.9 5.5 1.067 0.272
--------------------------------------------------
Includ. 59.0 70.5 11.6 1.682 0,027
--------------------------------------------------
Includ. 74.4 81.2 6.8 1.117 0.029
--------------------------------------------------
Includ. 84.0 89.0 5.0 0.610 0.123
--------------------------------------------------
Includ. 94.7 105.0 10.3 1.040 0.089
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KM71
--------------------------------------------------
Includ. 28.5 37.3 8.8 0.946 0.139
--------------------------------------------------
Includ. 43.5 48.2 4.7 0.528 0.118
--------------------------------------------------
Includ. 59.5 69.0 9.6 1.592 0.045
--------------------------------------------------
Includ. 72.0 98.1 26.1 1.145 0.039
--------------------------------------------------
Includ. 101.4 111.9 10.6 0.998 0.096
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KM72
--------------------------------------------------
Includ. 32.1 41.9 9.8 0.724 0.219
--------------------------------------------------
Includ. 51.3 66.4 15.1 1.135 0.060
--------------------------------------------------
Includ. 75.0 81.0 6.0 0.935 0.078
--------------------------------------------------
Includ. 96.0 109.8 13.8 1.101 0.092
---------------------------------------------------------------------------
KM73
--------------------------------------------------
Includ. 33.8 59.5 25.7 0.812 0.165
--------------------------------------------------
Includ. 74.6 84.0 9.4 1.097 0.052
--------------------------------------------------
Includ. 94.5 104.5 10.0 0.952 0.076
--------------------------------------------------
Includ. 108.6 112.0 3.4 0.669 0.175
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KM74
--------------------------------------------------
Includ. 20.4 54.1 33.7 1.059 0.321
--------------------------------------------------
Includ. 57.0 83.6 26.6 1.287 0.093
---------------------------------------------------------------------------
KM75
--------------------------------------------------
Includ. 29.4 38.2 8.8 0.947 0.173
--------------------------------------------------
Includ. 44.1 86.4 42.3 1.085 0.101
--------------------------------------------------
Includ. 89.7 100.1 10.4 1.212 0.095
---------------------------------------------------------------------------
KM76
--------------------------------------------------
Includ. 58.0 67.7 9.7 0.656 0.170
--------------------------------------------------
Includ. 70.5 88.8 18.3 1.016 0.051
--------------------------------------------------
Includ. 96.0 105.8 9.8 1.116 0.136
---------------------------------------------------------------------------
KM77
--------------------------------------------------
Includ. 36.4 45.8 9.4 0.897 0.155
--------------------------------------------------
Includ. 78.0 95.2 17.2 1.123 0.054
---------------------------------------------------------------------------
KM78
--------------------------------------------------
Includ. 19.3 34.1 14.9 0.754 0.382
--------------------------------------------------
Includ. 38.0 51.7 13.7 1.026 0.334
--------------------------------------------------
Includ. 54.6 77.2 22.7 1.064 0.069
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KM79
--------------------------------------------------
Includ. 25.4 28.5 3.1 0.839 0.054
--------------------------------------------------
Includ. 34.4 63.0 28.7 1.182 0.189
--------------------------------------------------
Includ. 75.0 81.0 6.0 0.988 0.052
--------------------------------------------------
Includ. 84.1 86.7 2.6 0.640 0.137
---------------------------------------------------------------------------
KM80 93.7 104.8 11.2 1.104 0.014
---------------------------------------------------------------------------
KM81
--------------------------------------------------
Includ. 15.7 97.4 81.7 1.052 0.123
--------------------------------------------------
Includ. 99.85 103.2 3.3 1.295 0.378
--------------------------------------------------

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Table 2
Zirconium Final Analyses Results
Summer Drilling Campaign of 2010 on the Kipawa Deposit
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% HREO
(ii)MREO (iii)HREO Y2O3 (iv)TREO +Y2O3/
Drill Hole (%) (%) (%) (%) TREO
---------------------------------------------------------------------------
KM62
--------------------------------------------------
Includ. 0.016 0.027 0.059 0.266 24
--------------------------------------------------
Includ. 0.016 0.046 0.084 0.239 29
--------------------------------------------------
Includ. 0.002 0.003 0.008 0.035 26
--------------------------------------------------
Includ. 0.007 0.014 0.024 0.109 24
--------------------------------------------------
Includ. 0.011 0.016 0.033 0.188 34
---------------------------------------------------------------------------
KM63
--------------------------------------------------
Includ. 0.015 0.025 0.053 0.249 22
--------------------------------------------------
Includ. 0.023 0.030 0.062 0.364 23
--------------------------------------------------
Includ. 0.025 0.059 0.112 0.372 23
--------------------------------------------------
Includ. 0.007 0.015 0.029 0.113 53
---------------------------------------------------------------------------
KM64
--------------------------------------------------
Includ. 0.005 0.009 0.019 0.084 36
--------------------------------------------------
Includ. 0.035 0.063 0.130 0.447 45
---------------------------------------------------------------------------
KM65
--------------------------------------------------
Includ. 0.018 0.026 0.058 0.301 11
--------------------------------------------------
Includ. 0.035 0.093 0.179 0.532 36
--------------------------------------------------
Includ. 0.008 0.018 0.037 0.143 28
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KM66
--------------------------------------------------
Includ. 0.015 0.032 0.061 0.232 20
--------------------------------------------------
Includ. 0.010 0.017 0.034 0.169 69
---------------------------------------------------------------------------
KM67
--------------------------------------------------
Includ. 0.014 0.020 0.042 0.212 11
--------------------------------------------------
Includ. 0.011 0.023 0.043 0.172 23
---------------------------------------------------------------------------
KM68 Includ. Includ.
--------------------------------------------------
0.009 0.015 0,027 0.147 57
--------------------------------------------------
0.006 0.012 0.019 0.093 26
---------------------------------------------------------------------------
KM69
--------------------------------------------------
Includ. 0.005 0.009 0.018 0.096 22
--------------------------------------------------
Includ. 0.014 0.023 0.047 0.223 15
--------------------------------------------------
Includ. 0.006 0.013 0.020 0.097 35
---------------------------------------------------------------------------
KM70
--------------------------------------------------
Includ. 0.023 0.036 0.067 0.397 17
--------------------------------------------------
Includ. 0.003 0.008 0.013 0.051 37
--------------------------------------------------
Includ. 0.003 0.006 0.012 0.049 37
--------------------------------------------------
Includ. 0.010 0.013 0.029 0.176 27
--------------------------------------------------
Includ. 0.008 0.014 0.025 0.135 66
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KM71
--------------------------------------------------
Includ. 0.011 0.013 0.024 0.187 16
--------------------------------------------------
Includ. 0.012 0.020 0.046 0.197 34
--------------------------------------------------
Includ. 0.007 0.018 0.035 0.105 37
--------------------------------------------------
Includ. 0.004 0.008 0.014 0.065 40
--------------------------------------------------
Includ. 0.011 0.024 0.052 0.183 30
---------------------------------------------------------------------------
KM72
--------------------------------------------------
Includ. 0.020 0,027 0.060 0.325 18
--------------------------------------------------
Includ. 0.007 0.016 0.031 0.114 24
--------------------------------------------------
Includ. 0.005 0.006 0.012 0.101 19
--------------------------------------------------
Includ. 0.009 0.017 0.032 0.149 24
---------------------------------------------------------------------------
KM73
--------------------------------------------------
Includ. 0.016 0.024 0.047 0.252 13
--------------------------------------------------
Includ. 0.004 0.006 0.011 0.072 27
--------------------------------------------------
Includ. 0.008 0.014 0.029 0.127 65
--------------------------------------------------
Includ. 0.017 0.024 0.047 0.263 26
---------------------------------------------------------------------------
KM74
--------------------------------------------------
Includ. 0.028 0.039 0.081 0.470 17
--------------------------------------------------
Includ. 0.009 0.017 0.033 0.152 38
---------------------------------------------------------------------------
KM75
--------------------------------------------------
Includ. 0.018 0.024 0.045 0.259 30
--------------------------------------------------
Includ. 0.011 0.022 0.042 0.176 19
--------------------------------------------------
Includ. 0.009 0.017 0.030 0.150 26
---------------------------------------------------------------------------
KM76
--------------------------------------------------
Includ. 0.016 0.023 0.042 0.251 25
--------------------------------------------------
Includ. 0.006 0.013 0.022 0.093 24
--------------------------------------------------
Includ. 0.013 0.022 0.039 0.210 49
---------------------------------------------------------------------------
KM77
--------------------------------------------------
Includ. 0.015 0.024 0.042 0.236 25
--------------------------------------------------
Includ. 0.006 0.015 0.028 0.104 24
---------------------------------------------------------------------------
KM78
--------------------------------------------------
Includ. 0.047 0.075 0.177 0.681 25
--------------------------------------------------
Includ. 0.037 0.073 0.156 0.600 15
--------------------------------------------------
Includ. 0.008 0.019 0.031 0.127 25
---------------------------------------------------------------------------
KM79
--------------------------------------------------
Includ. 0.004 0.007 0.016 0.081 30
--------------------------------------------------
Includ. 0.021 0.043 0.086 0.338 18
--------------------------------------------------
Includ. 0.005 0.009 0.015 0.081 18
--------------------------------------------------
Includ. 0.012 0.016 0.029 0.195 20
---------------------------------------------------------------------------
KM80 0.002 0.003 0.007 0,027 55
---------------------------------------------------------------------------
KM81
--------------------------------------------------
Includ. 0.014 0.028 0.055 0.220 18
--------------------------------------------------
Includ. 0.034 0.052 0.113 0.577 38
--------------------------------------------------

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(i) LREO: Light rare earths in oxides = La2O3 to Nd2O3.
(ii)MREO: Medium rare earths in oxides = Sm2O3 to Gd2O3.
(iii)HREO: Heavy rare earths in oxides = Tb2O3 to Lu2O3.
(iv)TREO: Total Rare Earth Oxides = LREO + MREO + HREO + Y2O3.
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Sub-divisions used by Roskill Information Services Ltd. and Industrial
Minerals Company of Australia Pty Ltd.
---------------------------------------------------------------------------

Alex Knox, geologist (M.Sc, P. Geol), and Aline Leclerc, geologist (OGQ) and Vice-President Exploration of Matamec, are qualified persons for the Zeus Project. As qualified persons, they have supervised the preparation of the scientific and technical information for the Zeus property and verified the data in this press release.About MatamecOther than its focus on the development of the Kipawa deposit and exploration for other showings of rare earths-yttrium-zirconium-niobium-tantalum on its Zeus property, Matamec's exploration strategy is to discover gold deposits, base metals and platinum group, as well as rare metals.For gold, the company explores in the prolific mining camp of Timmins, Ontario, of which the main target is the Matheson JV with Goldcorp Canada Ltd. and Goldcorp Inc.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."