Preliminary Economic Assessment (Scoping Study) on Kipawa Deposit is Progressing

Montreal, December 6, 2011 - Matamec Explorations Inc. ("Matamec" or the“Company” - TSX-V: MAT) is pleased to announce that  the independent engineering firm Roche and the independent firm SGS Canada Inc. - geological group Geostat (“SGS Geostat ") has almost completed the preliminary economic assessment (scoping study) for the heavy rare earths Kipawa deposit.  The study consists of 14 parts of which the last four need to be completed (see table below).  The results are now being checked and validated and will be published soon. 
 

Preliminary Economic Assessment
Scope of work	Completion%
1.      Geology and resource estimation	100
2.      Open pit design and resource estimation	100
3.      Mining development	100
4.      Metallurgy and process definition	100
5.      Tailings, waste rock and geotechnical	100
6.      Site infrastructure	100
7.      Environmental aspects	100
8.      Manpower	100
9.      Capital cost estimate	100
10.  Operating cost estimate	100
11.  Financial analysis	80
12.  Project implementation schedule	80
13.  Market study	90
14.  Conclusion et recommendations	10

 
Andre Gauthier, the President of Matamec, “is very encouraged by the preliminary results.”
 
Andre Roy (Eng.), from the engineering firm Roche, Yann Camus (Eng.), engineer for the independent firm SGS Canada Inc. - geological group Geostat (“SGS Geostat "), and Robert Crepeau (Eng.), an independent consultant for Matamec, are the qualified persons supervising the technical results according to NI 43-101 regulation.
 
About Matamec
 
Matamec Explorations Inc is a junior mining exploration company whose main focus is in developing the heavy rare earths Kipawa deposit and exploring more than 35 km 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. It is also exploring for gold 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."
 
For further information please contact:
 
André Gauthier                                   Caroline Wilson (P.Geo.)
President                                             Director of Investor Relations
Tel: (514) 844-5252                            Tel: (647) 938-4080
                                   
Email: [email protected]                 Website: www.matamec.com