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Matamec Successfully Leaches 89.2% of the Rare Earths From Eudialyte Zone of the Kipawa Deposit

MONTREAL, QUEBEC--(Marketwire - Oct. 18, 2010) - Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT - News) is pleased to report improved rare earth leach recoveries from a sample collected at its REE-Y Kipawa deposit. Whole rock material from the Eudialyte zone was processed at SGS Lakefield Research yielding rare earth leach recoveries of 89.2%. The heavy rare earth yield was 85.6%.

- 89.2% rare earth leach recovery on whole rock samples from the Eudialyte
- Successful liquid/solid separation after dissolving the rare earths;
- Confident that a low cost processing solution has been found.

The sample consisted of a composite of all 30 drill holes from the fall 2009 drilling campaign in the Eudialyte Zone.These values were achieved in a proprietary process developed by the company which greatly reduces the formation of silica gel. Only 0.9% of the silica present went into solution during the test resulting in an easily filtered material. The company is confident that a low cost processing solution has been found.Andre Gauthier, president of Matamec, quotes that Les Heymann theorized in Matamec's June 2009 NI 43-101 Technical Report on the Zeus property that "If the liquid/solid separation step can be solved, it is anticipated that production costs per kg of rare earth produced will fall somewhere between those of the South China clays and those of Xenotime."Gauthier adds that "this is important because it demonstrates that Matamec has been steadily working towards resolving challenges that were identified during the summer of 2009; namely increasing the resource and overcoming the metallurgical problems. The deposit's resource has been increased by at least 300% (see June 3rd, 2010 press release), and the second challenge has now also been overcome."Les Heymann (P.Eng) has over 35 years of operating experience in the Metallurgical and Management end of the Mining Industry. He has worked extensively in the production of Rare Earths. This included several years as General Manager and V-P of Production on Rare Earth plants in China. He is presently in charge of overseeing Matamec's metallurgical test program.Les Heymann (P.Eng) is Matamec's Qualified Person for this press release.About MatamecMatamec explores for significant gold deposits in the Timmins mining camp in Ontario of which the Matheson JV property with Goldcorp Canada Ltd. and Goldcorp Inc. is the main target. In Quebec, the Company explores for precious and base metals on its Sakami, Valmont and Vulcain properties. As well, Matamec is exploring for gold together with Northern Superior Resources Inc. on its Leperance/Wachigabau property.Concurrently with the above mentioned exploration programs, Matamec's Quebec Tansim property is also being explored for rare metals such as lithium, tantalum and niobium."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."