MONTREAL, QUEBEC--(Marketwire - March 7, 2011) - Matamec Explorations Inc. ("Matamec") (News - Market indicators) is pleased to announce that its Board of Directors has formed a Strategic Advisory Committee comprised of several distinguished mining executives who will act as advisors to the Board of Directors. The committee members are Mr. Sean Roosen (Eng. T) as President of the Committee, Mr. Robert Wares (P. Geo), Mr. Raynald Vézina (P.Eng.) and Mr. Les Heymann (P.Eng.).

Taking into account the strong world demand for the majority of the mineral substances, the high potential of its mining properties and the value currently granted to Matamec by the stock markets, the Advisory Committee's principal mandate is to assist the Board of Directors on the strategy the Company ought to adopt in order to maximize the value of its unique mining assets. The recommendations of the Advisory Committee will lay the basic groundwork for the strategy that the Board of Directors intends to adopt during the remainder of 2011.

The choice of the committee members reflects, in addition to their managerial expertise, an excellent knowledge of the mining industry, the metals and industrial minerals markets, the financial and industrial markets, mining exploration, mining development and mineral processing. A short description of the Committee members' expertise is presented hereafter:

Mr. Sean Roosen is president and Chief Executive Officer of Osisko since March 2006. Mr. Roosen is also the Chief Operating Officer of EurAsia Holding A.G. Mr. Roosen is currently a director of Astur Gold Corp, Rio Novo Gold Inc., Dalradian Resources Inc. and Bowmore Exploration Ltd.

Mr. Robert Wares was President and Chief Executive Officer of Osisko from August 1998 to March 2006 and has been Executive Vice-President and Chief Operating Officer of Osisko since March 2006. Mr. Wares is currently a director of Augusta Resource Corporation, Bowmore Exploration Ltd, and Wildcat Silver Corporation.

Mr. Raynald Vézina is a mining engineer with more than 35 years of experience in the mining industry. He has worked in various managerial jobs for Cambior, Placer Dome and Falconbridge. He successfully brought to production and/or exploitation of many mines, including the niobium "Niobec" mine. First V-P Operations for Cambior from 1986 to 2004, he now acts as a mining engineer consultant. He became director of Richmont Mines in 2004 and since 2008, he acts as a technical advisor for Matamec.

Mr. Les Heymann is a chemical engineer that has a vast experience as a professional manager in the operations and design ends of the mining industry. He has hands on experience of operations in the rare earths sector. Among others, he has engineering expertise in the areas of leaching, flotation, solvent extraction and electrowinning. As Vice President Operations, he worked mainly in China between 1995 and 2001 for joint-venture partnerships on rare earth projects with AMR Technologies, Inter-Citic Mineral Technologies and managed three Chinese rare earths producing factories. Since 2001, he has worked as a consultant for industrial clients on many commodities, including rare earths. Since 2008, he has worked as a consultant for Matamec, with particular focus on rare earths mineral processing and metallurgy of the REE-Y-Zr Kipawa deposit.

About Matamec

Other than its focus on the development of the Kipawa deposit and exploration for other showings of rare earths-yttrium-zirconium-niobium-tantalum on its Zeus property, Matamec's exploration strategy is to discover gold deposits, base metals and platinum group, as well as rare metals.

For gold, the company explores in the prolific mining camp of Timmins, Ontario, of which the main target is the Matheson property.

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.