Matamec Announces an Investment of $4 Million by Resources Quebec in the HREE Kipawa JV
03 April 2014 - 2:05AM
Marketwired
Matamec Announces an Investment of $4 Million by Resources Quebec
in the HREE Kipawa JV
The Kipawa JV takes another step forward
MONTREAL, QUEBEC--(Marketwired - Apr 2, 2014) - Matamec
Explorations Inc. (TSX-VENTURE:MAT)(OTCQX:MHREF)("Matamec" or the
"Company") is pleased to announce that the Government of Quebec has
officially authorised an investment of $4 million for the Kipawa JV
owned by Matamec and Toyotsu in order to continue the pilot plan
processes and to advance the environmental studies.
"This investment from the government represents an important
step and confidence in our ability to develop the production of
rare earths in Quebec, which are an essential geostrategic resource
for new green technologies, including those related to electric and
hybrid cars," said Andre Gauthier, President and CEO of Matamec
Explorations. "The publication of the first NI 43-101 feasibility
study for the project in October 2013 has confirmed the quality of
the Kipawa JV rare earths deposit. This investment confirms the
economic and technological importance of Kipawa JV project by
having the Government of Quebec as an additional partner".
The financial contribution of Resources Québec is in the form of
subscription to an issue of Matamec common shares to the maximum
amount of $1 million and a minority stake in the project to a
maximum of $ 3 million.
The terms and conditions of the investment, including the
determination of the timing and the price of investment, will be
finalized in the coming weeks.
About Matamec
Matamec Explorations Inc. is a junior mining exploration company
whose main focus is in developing the Kipawa HREE deposit with
Toyotsu Rare Earth Canada Inc ("TRECan").
In parallel, the Company is 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. Since 2007, Matamec discovered eight (8) new rare
earth showings. Most relevant of these, was the drilling of the
PB-PS Zone in the fall of 2012 where it identified
Eudialyte-Mosandrite/Yttro-Titanite/Britholite mineralization
similar to those found at the HREE Kipawa Deposit. This type of
mineralization is presently known over a length of 200 metres and
is open laterally and at depth. This mineralized zone is 2.3 km SW
of the Kipawa deposit and a soil anomaly seems to connect the two.
The Company plans to drill these extensions later this year.
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 gold 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 Valmont and
Vulcain properties. In August 2013, Matamec signed an option
agreement where Canada Strategic Metals can acquire an interest of
up to 50% in the Sakami gold project, located in the James Bay
region of northern Quebec by committing $2.25 million in
exploration work including $500,000 in the first year on
drilling.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains "forward-looking information"
within the meaning of Canadian Securities legislation. Generally,
forward-looking statements can be identified by the use of
forward-looking terminology such as "scheduled", "anticipates",
"expects" or "does not expect", "is expected", "scheduled",
"targeted", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements contained herein include, without
limitation, statements relating to mineral reserve estimates,
mineral resource estimates, realization of mineral reserve and
resource estimates, capital and operating costs estimates, the
timing and amount of future production, costs of production,
success of mining operations, the ranking of the project in terms
of cash cost and production, permitting, economic return estimates,
power and storage facilities, life of mine, social, community and
environmental impacts, rare metal markets and sales prices,
off-take agreements and purchasers for the Company's products,
environmental assessment and permitting, securing sufficient
financing on acceptable terms, opportunities for short and long
term optimization of the Project, and continued positive
discussions and relationships with local communities and
stakeholders. Forward-looking statements are based on assumptions
management believes to be reasonable at the time such statements
are made. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Although Matamec has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. Factors that may cause actual results to differ
materially from expected results described in forward-looking
statements include, but are not limited to: Matamec's ability to
secure sufficient financing to advance and complete the Project,
uncertainties associated with Matamec's resource and reserve
estimates, uncertainties regarding global supply and demand for
rare earth materials and market and sales prices, uncertainties
associated with securing off-take agreements and customer
contracts, uncertainties with respect to social, community and
environmental impacts, uncertainties with respect to optimization
opportunities for the Project, as well as those risk factors set
out in the Company's year-end Management Discussion and Analysis
dated December 31, 2012 and other disclosure documents available
under the Company's profile at www.sedar.com. Forward-looking
statements contained herein are made as of the date of this news
release and Matamec disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by
applicable securities laws.
"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."
Andre Gauthier, President(514) 844-5252info@matamec.com
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