Matamec Identifies Prospective Rare-Earth Minerals at the Surprise Showing on its Zeus HREE-Y-Zr Property

MONTREAL, QUEBEC -- (Marketwire) -- 03/05/12 -- Matamec Explorations Inc. ('Matamec') (TSX VENTURE: MAT) is pleased to announce that Anthony Mariano, world-renowned rare-earth specialist, has identified significant quantities of both fergusonite (a rare-earth, niobium and tantalum oxide: Y(Nb,Ta)O4) and xenotime (a rare earth phosphate: YbPO4) at the Surprise showing located on Matamec's fully owned HREE-Y-Zr Zeus property (Figure 1: http://media3.marketwire.com/docs/mata_fig1_0305.pdf). This is particularly significant as xenotime is one of the few rare earth minerals for which a commercial chemical extraction process has been fully developed.

Dr. Mariano states in his report that the Surprise area 'contains outcrops of metamorphic rocks with impressive accumulations of HREE mineralization in the form of fergusonite, euxenite and allanite in quartz biotite gneisses and recrystallites' (Figure 2: http://media3.marketwire.com/docs/mata_fig2_0305.pdf) as well as 'massive allanite rocks containing xenotime as high as 10 wt.%' (Figure 3: http://media3.marketwire.com/docs/mata_fig3_0305.pdf). Both mineralizations are fairly coarse-grained and well crystallized, with an average size of 1 to 3 millimetres, some fergusonite grains are as high as half a centimetre in dimension. Dr. Mariano notes that such mineralization should be readily amenable to physical processing and that while some yttrium can be found in allanite, the vast majority of rare earths at Surprise is carried by fergusonite, xenotime and the accessory euxenite. He concludes by stating that 'this occurrence is very impressive in mineralogy and chemistry and merits a detailed exploration program to establish the presence of economic grade and tonnage'.

The Surprise showing is located 12 km east of Matamec's Kipawa deposit, in the Temiscamingue region of southern Quebec, Canada (see Figure 1). The showing was mechanically trenched and channel sampled in 2010, returning high rare earth values combined with remarkably high heavy rare earth enrichment, as well as exceptional niobium and tantalum values (best interval is 2m @ 5.3% TREO (67% HeavyREO + Y2O3/TREO), 3.6% ZrO2, 3.9% Nb2O5 and 630ppm Ta2O5 (see August 19, 2010 press release)). A regional soil survey followed (see September 2, 2010 press release). Anthony Mariano then visited and collected samples from the site in May 2011. Samples were photographed and then characterized via transmitted light microscopy, scanning electron microscopy (including backscattered images and element mapping), short-wave UV and cathodoluminescence. Since then, numerous REE-Nb-Ta outcrops have been discovered in the region, including the new Certitude showing located 1.5km to the west of the Surprise showing (see March 1, 2012 press release).

Anthony Mariano (Ph.D) and Aline Leclerc, V-P Exploration (Geo.), are Matamec's Qualified Persons for this press release.

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. 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.'

Contacts:

Andre Gauthier

President

(514) 844-5252


Caroline Wilson (P.Geo.)

Director of Investor Relations

(647) 938-4080
info@matamec.com
www.matamec.com