MONTREAL, QUEBEC--(Marketwire - Aug. 11, 2011) - Matamec Explorations Inc. ("Matamec" or the "Company")(TSX VENTURE:MAT - News) has engaged the independent engineering firm Roche Ltd. from Montreal, Quebec, to complete its preliminary economic assessment study (PEA) of the HREE Kipawa Deposit located near Temiscaming in SW Quebec. The study is on schedule for publication at the beginning of the fourth quarter. Highlights from the study include:
-- A NI43-101 compliant indicated and inferred resource (press releases
June 30, 2011 and July 7, 2011);
-- A mining development plan for an open pit, small operation mine with a
low strip ratio;
-- Design production of 4000-4500 tpd for 5,600 tpa of mixed REO
-- A well defined metallurgical process in two simple, low cost steps based
on recent tests:
1. 35% pre-concentration with 90% recovery (July 21, 2011);
2. Simple direct leaching method with 88% recovery (Aug. 4, 2011).
Andre Gauthier, Matamec's president, says "we are fully confident that we have all the ingredients to produce a robust and positive economic study. Kipawa's outcropping, sub-horizontal deposit geometry, its proximity to infrastructure and its simple mineralogy makes it a deposit that will be easy to mine and process with competitive costs, even at lower REE prices."Aline Leclerc, V-P Exploration (Geo.) Matamec and Robert Crepeau Eng., (Independent Consultant) are the Qualified Persons for this press release.About MatamecMatamec Explorations Inc is a junior mining exploration company whose main focus is in developing the Kipawa deposit and exploring more than 35km 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."