U.S. Markets closed

Matamec Updates the Local Communities and the Mining Financial Sector About the Heavy Rare Earths Kipawa Deposit

MONTREAL, QUEBEC--(Marketwire - Nov. 5, 2010) - Matamec Explorations Inc. ("Matamec" or the "Company" - (TSX VENTURE:MAT - News) is pleased to announce that it has recently completed a visit to the Zeus property.HIGHLIGHTS OF THE PRESS RELEASE- Successful site visit of the heavy rare earths Kipawa deposit- Montreal Cambridge Resource Investment Conference, booth #100- 6th International Rare Earths Conference- Amendment to the October 26th, 2010 press release on stock optionsThe visit's first day, November 2nd, was open to the public, especially for the communities which surround the Zeus property. More explicitly, representatives from the local municipalities in which the Zeus property is located and First Nations members and leaders attended, as well as representatives from the local economic development organizations and journalists. The goal of the visit was to strengthen contacts between the people and the communities, whom are the Company's neighbours, with Matamec. Andre Gauthier, president of Matamec, says that "the Company feels that by gathering the whole community for the first time together at one point in time allows for a better understanding of our goals and on the other hand, of their vision." La Frontiere, a local newspaper, has published this article about the visit.On the second day, November 3rd, Matamec invited members of the financial community and mining analysts from New York, Chicago, Edmonton, Toronto and Montreal. The goal on this second day was to familiarize the party with Matamec's property and create an atmosphere where it was possible to ask the president, Andre Gauthier, the V-P Exploration, Aline Leclerc and the project geologist, Alex Knox any questions they might have had about the heavy rare earths Kipawa deposit and the rare earths market. Andre Gauthier, president of Matamec, says that "the visit allowed for the party to really get a feel for the true value of the Kipawa deposit. They were generally impressed by its accessibility, topographical location, visible quality mineralization and favourable context for an open pit operation." Please stay tuned to our website, we will upload pictures soon.Montreal Cambridge Resource Investment Conference: Booth #100Matamec is pleased to be hosting a booth (#100) at the Montreal Resource Investment Conference on Friday, November 5th and Saturday November 6th from 10:00 am to 5:00 pm at the Montreal Palais des Congres, room 220E. Members of Matamec's Zeus property team, will be present at the booth to answer your questions.Metal Events 6th International Rare Earths ConferenceMatamec will participate, for a second year in a row, in the conference being held in Hong Kong. The conference is being held on Wednesday, November 10th and Thursday, November 11th. Please visit their website for more information.Amendment to October 26th, 2010 stock option grant to directorsThe Board of Directors approved the granting of 500,000 stock options to five directors and officers at a price of $0.36 per share for a period of five years rather than the 400,000 previously disclosed on October 26th, 2010. These options, as well as the terms and conditions of their exercise, are governed by the Company's Stock Option Plan.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."