Refractory Metals News - Matamec Discovers Boulders Containing Up to 86% HeavyREO+ Y2O3/TREO and 6.96% Niobium

Matamec Discovers Boulders Containing Up to 86% HeavyREO+ Y2O3/TREO and 6.96% Niobium

MONTREAL, QUEBEC--(Marketwire - Aug. 19, 2010) - Matamec Explorations Inc. ("Matamec" or the "Company")(TSX VENTURE:MAT) is pleased to announce that it has discovered a train of boulders around and upslope from the bedrock Surprise showing, located on the Zeus property. From this train, six samples were collected for analysis. These samples are characterized by a strong enrichment in rare earths, yttrium, niobium and tantalum as presented in the following table:

Analytical Results for Six Boulders from the Surprise Showing–Zeus Property**
Element Oxides		Sample Number and Analytical Results in %
Element Oxides		RA-3	RA-5	RA-9	RA-11	RA-12	RA-14
La₂O₃	Lanthanum Oxide	0.036	1.278	0.260	0.072	0.019	0.869
Ce₂O₃	Cerium Oxide	0.086	2.695	0.600	0.233	0.098	1.834
Pr₂O₃	Praseodymium Oxide	0.011	0.308	0.080	0.036	0.012	0.219
Nd₂O₃	Neodymium Oxide	0.045	1.184	0.296	0.193	0.064	0.815
LREO*	Light rare earths	0.179	5.465	1.237	0.532	0.193	3.737
Sm₂O₃	Samarium Oxide	0.020	0.104	0.097	0.109	0.044	0.215
Eu₂O₃	Europium Oxide	0.004	0.047	0.017	0.022	0.009	0.037
Gd₂O₃	Gadolinium Oxide	0.032	0.347	0.138	0.179	0.070	0.296
MREO*	Medium rare earths	0.056	0.498	0.251	0.310	0.122	0.549
Tb₂O₃	Terbium Oxide	0.009	0.062	0.036	0.048	0.022	0.071
Dy₂O₃	Dysprosium Oxide	0.074	0.468	0.328	0.504	0.220	>0.574
Ho₂O₃	Holmium Oxide	0.021	0.108	0.092	0.137	0.061	0.173
Er₂O₃	Erbium Oxide	0.071	0.328	0.328	0.477	0.218	>0.572
Tm₂O₃	Thulium Oxide	0.012	0.039	0.050	0.062	0.032	0.084
Yb₂O₃	Ytterbium Oxide	0.070	0.215	0.292	0.378	0.194	0.545
Lu₂O₃	Lutetium Oxide	0.008	0.023	0.035	0.041	0.022	0.065
HREO*	Heavy rare earths	0.266	1.243	1.160	1.646	0.769	>2.084
Y₂O₃	Yttrium Oxide	0.531	3.518	2.305	2.692	1.160	4.280
HREO + Y₂O₃		0.797	4.761	3.465	4.338	1.929	>6.364
% HREO +Y₂O₃/TREO		77	44	70	84	86	>60
TREO*	Total rare earths	1.031	10.724	4.953	5.181	2.244	>10.649
ZrO₂	Zirconium Oxide	0.921	0.111	0.689	1.857	2.209	0.729
Nb₂O₅	Niobium Oxide	0.737	0.062	3.905	4.707	3.677	6.967
Ta₂O₅	Tantalum Oxide	0.023	0.005	0.090	0.063	0.060	0.145
* LREO: light rare earths oxides (or Ceric) = La₂O₃ to Nd₂O₃MREO : Medium rare earths oxides = Sm₂O₃ to Gd₂O₃HREO: Heavy rare earths oxides (or Yttric) = Tb₂O₃ to Lu₂O₃TREO: Total rare earths oxides = LREO + MREO + HREO + Y₂O₃
N.B.: Sub-divisions used by Roskill Information Services Ltd. and Industrial Minerals Company of Australia Pty Ltd.
">" This symbol shown in the above table means that the results are overlimit. We are currently awaiting these new analyses.
**An assay from a selected boulder could not represent the average grade of its source.

These are preliminary results from the spring-summer field exploration work done on Matamec's Zeus property May to July 2010. This 2010 work was carried out on the Kipawa deposit and its surroundings, mostly on the Falaises, Surprise and TH showings (discovered in 2008), as well as other areas of the property which cover much of the Kipawa Alkalic Complex.

Once all results of the samples submitted for analysis are received in full, they will be reviewed by Anthony Mariano, PhD. He will identify the mineral species containing the rare earths, yttrium, zirconium, niobium and tantalum values, using various methods at his disposal.

Niobium is presently being mined at three places in the world, two in Brazil and one in Canada. The Canadian producer is the Niobec Mine owned by IAMGOLD Corporation, located in the Saguenay region of Quebec. The mine presently (December 31, 2009) produces from ore which averages 0.56% Nb₂O₅. IAMGOLD states that it is "comfortable" with the February 27^th 2010 price of niobium, in the mid-$30's per kilogram.

Andre Gauthier, president of Matamec, underlines that "the discovery of these boulders means that it is probable to find high grade mineralization greatly enriched in heavy rare earths and niobium in the area of the Kipawa Alkalic Complex".

Alex Knox, geologist (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 Matamec

Matamec 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 Lepérance/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.

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