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Matamec to Present New Kipawa Mineral Resource Estimate at its AGM on June 30th

MONTREAL, QUEBEC--(Marketwire - June 23, 2011) - Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT - News) is pleased to announce that the mineral resource model for its heavy rare earths-yttrium-zirconium Kipawa deposit is almost complete. The new mineral resource estimate will be presented at its AGM on June 30th. The press release will also be available at 2 pm Eastern time on Marketwire's website on June 30th.The new estimate includes 42 new diamond drill holes. The campaign began on December 1, 2010 and ended on February 8, 2011 for a total of 3,332 meters drilled. The main objective was to convert the majority of the inferred mineral resources into indicated resources.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."