Matamec Receives a Second Payment of 1.1M CAD from Toyotsu Rare Earth Canada

Matamec Explorations Inc. ("Matamec" or the "Company") ( TSX
VENTURE:MAT)(OTCQX:MHREF) is pleased to announce that the Company has received a
second payment of 1,119,776 CAD from its Japanese partner Toyotsu Rare Earth
Canada Inc. ("TRECan"), a subsidiary of Toyota-Tsusho Corp. ("TTC").


Matamec began discussions with TTC, a subsidiary of Toyota Motor Group, on
January 25th, 2010, and both companies signed a Confidentiality Agreement on
April 1st, 2010. After two years of negotiations, Matamec and TTC signed a
Memorandum of Understanding ("MOU") on December 7th, 2011. Matamec received a
payment of 1.5M CAD on February 2012 to bind the MOU with TTC. 


With the signature of the Joint Venture Agreement ("JVA") by which TRECan can
acquire 49% undivided interest in the Kipawa HREE Deposit, Matamec received 8.5M
CAD for the first 25% undivided interest on July 18, 2012. To acquire the second
24% undivided interest, TRECan has to pay to Matamec a maximum amount of
7.5MCAD. The 1.1M CAD is the first of a number of successive payments in
completion of the 7.5MCAD, but the second overall payment received from TRECan.
Matamec will transfer the 24% undivided interest to TRECan when it will receive
a cumulative maximum amount of 7.5M CAD.


With this payment, Matamec receives a cumulative amount of 9,619,776 CAD on a
maximum 16M CAD for the feasibility study on the Kipawa HREE Deposit. The
results of which are expected in the second quarter of 2013.


Andre Gauthier, president of Matamec, says that "the JVA has many tangibles, but
also many valuable intangibles. For the tangibles, TRECan is a strategic partner
and the JVA is only for the Kipawa HREE deposit. With the JVA signed July 2012
between TRECan (49%) and Matamec (51%), TRECan provided $16MCAD for a NI 43-101
independent bankable feasibility study. Matamec is operator of the JV. TRECan
will sign an off-take agreement to buy 100% of a mixed rare earths concentrate
and TRECan will arrange with Matamec the financing through to production".


The president adds that "for the intangibles, the JVA includes mutual
collaboration to accelerate the development of the Kipawa HREE Deposit and
technical assistance from the Worldwide Toyota Network (critical to fast track
the project). This agreement secures a heavy REE supply for the production and
marketing of hybrid vehicles".


About TTC and TRECan 

Established for more than 60 years and subsidiary of Toyota Motor Group, TTC is
a general trading company that develops business together with over 400
consolidated group companies in Japan and overseas, with customers around the
world, via a global network covering Japan and more than 60 other countries
worldwide. TRECan is a subsidiary of TTC especially created for the JVA for the
Kipawa HREE deposit. 


About Matamec

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 and the hiring
of a V-P Project development and Construction, Matamec and TRECan decided to
move directly to the feasibility study. The March 2012 press release highlighted
that the project has robust economics such as: $606 million before-tax value
(NPV8%), a 36.9% before-tax IRR, $2.8 billion revenue, $1.67 billion EBITDA, a
before-tax payback period of 2.4 years, etc. (see press release dated January
30, 2012).


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 Lesperance/Wachigabau property.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Matamec Explorations inc.
Andre Gauthier, President
(514) 844-5252
info@matamec.com
www.matamec.com

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