MONTREAL, QUEBEC -- (Marketwire) -- 12/30/11 -- Matamec Explorations Inc. ('Matamec' or the 'Company')(TSX VENTURE: MAT) is pleased to announce that the stock option plan was amended at the last Board of Directors meeting. Now a maximum of 12,000,000 shares may be issued in accordance with the stock option plan. This increase has received the regulatory approval. Matamec set up the plan for the benefit of its directors, officers, employees and consultants providing services on a continual basis. To date, 9,559,300 stock options have been granted to the directors, officers, employees and consultants of the Company, of which 3,054,300 have been exercised since the beginning of the stock options plan.
About Matamec
Matamec Explorations Inc. is a junior mining exploration company whose main focus is in developing the heavy rare earths Kipawa deposit and 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.
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.'
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