Matamec Mandated Golder & Associates to Conduct the Environmental and Social Impact Assessment for its Heavy Rare Earths Kipawa Deposit
Montréal, Québec – September 12, 2012 - Matamec Explorations Inc. ("Matamec" or the "Company") andToyotsu Rare Earth Canada, Inc. (“TRECan”) are pleased to announced that the firm Golder & Associates was awarded the mandate to conduct the Environmental and Social Impact Assessment for the HREE Kipawa Project.The mandate was awarded in April 2012 data for the environmental baseline study needed to be collected in the spring 2012. The priority for the Company in the spring-summer 2012 was to plan its timetable to ensure all requirements for various permits and public hearings were met, like the certificate of authorization. Furthermore, although the Kipawa Mine Project is not heading for public hearings (“BAPE”) because of its scheduled daily production of 4,000 tonnes, Matamec has taken into account current legislative unpredictability by organizing its timetable to avoid possible time delays by preventively gathering all features in case of public hearings before various levels of government. Regardless of obligatory legislative public hearings, Matamec’s management believes that proper environmental protection starts with a good understanding of the environment, so the Company intends to integrate corporate social responsibility by ensuring its actions are in compliance with provincial and federal norms.
The collection of biological data (waterfowl inventory, fish study, forest birds and birds of prey, amphibians, rare plants and endangered species) has started and will continue throughout the fall 2012. In addition, studies assessing surface water and groundwater, hydrology and hydrogeology, noise and socio-economic aspects are underway. Although some field work might be necessary in spring 2013, the baseline study including social aspects will be completed by the end of fall 2012. Important and necessary geotechnical field work for open pit stability, mining infrastructures and tailings have already started in August. Design for tailing facilities and characterization of waste rock, ore and tailings are also in progress.
The participation of the Algonquin communities impacted by Matamec mining project has been obtained by the signature on last July 6th of an agreement (“Memorandum of Understanding”), which addresses, among other things, the preparation of an exploration and consultation protocol by the signing parties. Also, the Algonquin communities of Eagle Village First Nations and Wolf Lake First Nations will bear the responsibility of preparing the part of the study regarding the social, cultural and economic impacts of the Company’s project on their respective communities. An agreement has also been reached on the reimbursement of the costs of such study.
A harmonization and follow up table for the project was put forward, to allow a better communication between the local population and Matamec. The working group includes representatives from Aboriginal communities affected by the project, the Regional authorities, representatives from the town of Témiscaming and the municipality of Kipawa, economic actors like the Regional Economic development society, Tembec and the Chamber of Commerce, the Quebec ministry of Natural resources and Fauna of the province and the Lake Temiscamingue school board. The working group has already met at 8 occasions.
André Gauthier, president, comments: « I really appreciate that Golder & Associates are implicated in our project. It is a trustworthy company and their reputation and knowledge gives us the assurance of a complete and credible Environmental Impact Assessment. The field work of last the spring and summer 2012 went really well and everything ongoing is on schedule. Corporate social responsibility is extremely important to me, and to everyone at Matamec. In 2012, a mine project is respectful of the environment and includes all stakeholders in its considerations.”
About Matamec
Matamec Explorations Inc is a junior mining exploration company whose main focus is in developing the Kipawa deposit with Toyotsu Rare Earth Canada, Inc. (“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, a $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.
"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."
