Matamec Receives $1.041 Million from Toyotsu and Provides Update for Kipawa Metallurgy

Matamec Explorations Inc. ("Matamec" or the "Company") (TSX
VENTURE:MAT)(OTCQX:MHREF) is pleased to announce that the Company has received
$1.041 million CDN from its Japanese partner Toyotsu Rare Earth Canada Inc.
("Toyota" or "TRECan"), a subsidiary of Toyota Tsusho Corp. ("TTC"). 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.


To date Matamec has received $14,236,608 CDN of the maximum $16M CDN for the
completion of a definitive feasibility study on the Kipawa HREE deposit, which
is on budget and track for completion by the end of the second quarter of 2013. 


"The financial support that Matamec has received from Toyotsu is a clear
indication to the market the progress which has been achieved in the completion
of the feasibility study," said Andre Gauthier, President and CEO of Matamec
Explorations. "Matamec's team of professionals continues to deliver results. The
Company is poised to become one of the first companies to supply heavy rare
earths for hybrid and electric vehicles." 


Under the terms of the Joint Venture Agreement ("JVA") by which TRECan can
acquire 49% undivided interest in the Kipawa HREE Deposit, Matamec received
$8.5M CDN 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
$7.5M CDN. The $1.041M CDN is the fifth of a number of successive payments in
the completion of the $7.5M CDN, but the sixth 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 CDN.


Metallurgical Update

Since March 2012, the technical team working on the metallurgical development of
the Kipawa project has progressed significantly. Extensive lab scale testing to
develop and validate a process up to bulk carbonate production, also in parallel
pilot plant testing and subsequent engineering was accomplished. Today, in
conjunction with our project partners, final purification of the carbonate
development is on-going as well as variability sample testing and optimisation.
Many obstacles were overcome and the development continues to move forward
positively. 


Metallurgical Team Update

The Company announced that Mr. Paul Blatter, Director of Metallurgy has left
Matamec effective March 15, 2013 in his role to pursue other interests. Matamec
wishes to thank Paul for his contribution the past year in leading the
metallurgy team to the solid position we are in today. Moving forward, we are
now focused on the final purification processes. The Company feels confident in
the team we have currently in place to complete the feasibility study,
specifically Ms. Ngai and Mr. Hayden who have been involved the past two years
with the Kipawa studies and have extensive experience including hydro metallurgy
processes of rare earths. 


Continued execution of the Kipawa metallurgy will be led by an experienced
technical team with support from Toyota Tsusho Corporation network, SGS Geostat
and specifically the following key members:




--  Ms. Eliza Ngai, P. Eng., M. Eng., a Metallurgist with over eight years'
    experience including Engineering consulting for an international
    engineering firm as a Process Engineer. Ms. Ngai joined Matamec in April
    2011 and worked many years under the late Mr. Les Heymann, expert on
    rare earths. 
--  Mr. Alfred Hayden, P. Eng., a Metallurgist with over 40 years'
    experience and a strong background specifically in hydro metallurgy. Mr.
    Hayden has been involved as an independent consultant since 2011 and
    will assume further responsibilities in the process design. 
--  Mr. Bertho Caron, P. Eng., VP Project Development and Construction with
    extensive years of experience in project development and start-up. 
--  Mr. Raynald Vezina, P. Eng., Director of Matamec and technical advisor
    for the Company is an engineer with more than 35 years' experience in
    the mining industry who has worked with various jobs, including,
    Cambior, Placer Dome and Falconbridge. He successfully brought to
    production and / or exploitation of many mines.



Bertho Caron, VP Project Development & Construction (Eng.), Eliza Ngai,
Metallurgist (Eng.) and Aline Leclerc, VP Exploration (Geo.) are Matamec's
Qualified Persons for this press release.


Mines & Money Hong Kong 2013

The Company also announced that Mr. Andre Gauthier, President and CEO, will
present a corporate update at Mines and Money Hong Kong on Friday, March 22,
2013, at 12:50 p.m. at the Hong Kong Convention and Exhibition Centre. Matamec
will host a booth at the conference from Wednesday, March 20 to Thursday, March
21, 2013. For further information, please visit www.minesandmoney.com/HongKong.


About Toyotsu 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 Kipawa HREE
deposit JVA. TTC has four rare earth projects globally including in India,
Vietnam, Indonesia (HREE) and Canada (HREE Kipawa JV). For further information,
please view the TTC 2012 Annual Report online. 


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 VP 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: 
Andre Gauthier
President
(514) 844-5252
info@matamec.com


Edward Miller
Director IR
(514) 844-5252 ext. 205
edward.miller@matamec.com
www.matamec.com
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