Matamec Provides an Update to the Kipawa Rare Earths Joint Venture Project

MONTREAL, QUEBEC--(Marketwired - June 20, 2016) - Matamec Explorations Inc. (« Matamec » or the « Company ») (TSX VENTURE:MAT)(OTCQX:MHREF) is very pleased to announce that its 2015-2017 objectives are being achieved as planned for the Kipawa rare earths joint venture project ("the JV"), of which 72% is owned by Matamec. At the formation of the JV in January 2015, the joint venture held funds of $ 4M CAD. As of March 31^st 2016, the JV has invested $1,970,000 CAD in reaching the objectives. The joint venture plans to invest the remaining $2,030,000 CAD over the next year in pursuit of its 2015-2017 objectives.

In the context of sustainable development, the success of the Kipawa rare earth project is contingent upon the completion of the following four undertakings: developing a technically robust metallurgical process flowsheet; achieving economic viability for the project; reaching environmental objectives; and obtaining social acceptability. The 2015-2017 objectives were established accordingly as follows:

1. Optimize metallurgical flowsheet;
2. Demonstrate the recovery of rare earths from silicate minerals on an industrial scale;
3. Evaluate opportunities to reduce the environmental footprint of the project;
4. Update Feasibility Study, previously published in October 2013;
5. Continue the social acceptance process with indigenous communities and local populations involved in the project;
6. Continue discussions with strategic financial and industrial partners.

For further information, we invite you to consult the various management reports that Matamec has filed with SEDAR for the Kipawa rare earth Joint Venture project, as well as the information that has been and will continue to be posted on Matamec's website.

About Matamec

Matamec Explorations Inc. is a junior mining exploration company whose main focus is in developing the Kipawa HREE JV deposit owned at 72% by the Company and 28% by Ressources Québec (acting as agent of the Government of Québec); Toyota Tsusho Corp. (Nagoya, Japan) holds a 10% royalty on net profit in the deposit. Furthermore, 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.