MONTREAL, QUEBEC -- (Marketwired) -- 06/25/13 -- Matamec Explorations Inc. ("Matamec" or the "Company") ( TSX VENTURE: MAT)(OTCQX: MHREF) announces the completion of the Feasibility Study work on the Kipawa heavy rare earth project at Temiscaming, Quebec. The goal of the Kipawa mine project is to supply Toyota with heavy rare earths ("HREE") for the production and marketing of hybrid and electric vehicles.
The Feasibility Study has managed to stay on budget and schedule. The study is now in the last phase of being written with the results to be published by the end of July. The Company will issue a press release closer to the date confirming the details of the announcement and conference call time.
Matamec Explorations Inc. is a junior mining exploration company whose main focus is in developing the Kipawa HREE deposit with TRECan. Following the positive conclusion of the PEA study filed on SEDAR in March 2012 (resources that are not mineral reserves do not have demonstrated economic viability) and the hiring of a VP Project Development and Construction, Matamec and TRECan decided to move directly to the feasibility study.
In parallel, the Company is 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 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."
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