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Press release from Marketwire

Canada Strategic Metals Reports High-Grade Gold Results of Up to 61.37 g/t Gold in Grab Sample from its Sakami Property in Quebec

Thursday, October 24, 2013

Canada Strategic Metals Reports High-Grade Gold Results of Up to 61.37 g/t Gold in Grab Sample from its Sakami Property in Quebec

09:17 EDT Thursday, October 24, 2013

MONTREAL, QUEBEC--(Marketwired - Oct. 24, 2013) - Canada Strategic Metals Inc. ("Canada Strategic Metals" or "the Company") (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) and Matamec Explorations Inc. (TSX VENTURE:MAT)(OTCQX:MHREF) are pleased to announce that early results from a recent sampling program on Zones 25, 26, 43 and 9.6 on the Sakami property show high-grade gold assays of up to 61.37 g/t for grab samples.

The Sakami project is located in the James Bay region of northern Quebec, approximately 570 kilometres north of Val-d'Or and 900 kilometers north-northwest of Montreal. The property consists of a total of 120 mineral claims covering 6,032.18 hectares. The Sakami property covers approximately 13 kilometres of the La-Grande/Opinaca fault structure, which is up to 500 metres wide on the property.

"Management is very encouraged by these results, which confirm the presence of a high grade gold zone at the Sakami gold project, over a large area on surface, indicating strong potential for development of a gold resource on the Sakami property," said Jean-Sébastien Lavallée, President and CEO of Canada Strategic Metals.

The Company is currently conducting a geochemical survey on the "JR" and "Iles" areas, where over 1,200 soil samples will be collected. Mapping and detailed sampling, including channel sampling principally on Zone 43, is also underway. Zone 43 is exposed at surface by old stripping over 150 metres long by 50-75 metres wide, and consists of a mafic volcanic, Algoma-type sulphide iron formation coinciding with a strong IP anomaly. The Company is awaiting a permit before starting a 1,500-metre drilling program on the Pointe Area to extend Zones 25 and 26, and also to test various IP conductors. All new assays are shown in the table below.*

Sakami best grab samples:

Sample No Au ppm
0.01
Py-SAA Au
Zone Sample No Au ppm
0.01
Py-SAA Au
Zone Sample No Au ppm
0.01
Py-SAA Au
Zone
115751 1.19 Zone 26 115755 2.25 Zone 25 115769 3.9 Zone 9.6
115752 5.18 Zone 26 115756 4.75 Zone 25
115753 1.39 Zone 26 115758 1.33 Zone 25
Sample No Au ppm
0.01
Py-SAA Au
Au g/Mt
0.10
PYRO-GRAV
Zone
115759 > 10.0 61.37 Zone 43
115761 2.6 Zone 43
115764 4.28 Zone 43

*Grab samples are selective by nature and unlikely to represent the average grade of a deposit.

A map of the Sakami property with the new results can be found on the Company's website at: www.csmetals.ca.

All the samples were sent for analysis in sealed containers to the Bourlamaque Ltee. laboratory in Val-d'Or by employees of the Company. The samples are weighed and identified prior to sample preparation. All samples are analysed by fire assay with AA finish on a 30g sample (0.01-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.

To date most exploration work has focused on Zone 25, where stratiform gold mineralization has been found hosted by a sequence of strongly silicified quartzites, arkoses and felsic dykes within paragneiss of the Opinaca sub-province. This mineralized horizon occurs as an antiform-synform pair that plunges moderately to the southwest. Matamec Explorations Inc. (TSX.V MAT) drilling intersected it within a surface area of approximately 150 metres by 160 metres, and to a depth of 220 metres. The thickest mineralization is developed within the hinge zone of the two interpreted folds with drill intercepts including: 2.62 grams per tonne (g/t) Au over 54.70 metres core length from EX-10, and 4.16 g/t Au over 21.00 metres core length in EX-22. A broad "envelope" of lower grade mineralization of approximately 1 g/t Au characterizes the zone and encloses higher grade sections typically ranging from 1-3 g/t Au.


Hole #
Au (g/t) Length (metres) From (metres) To (metres)
EX-1 2.38 7.90 91.90 99.80
EX-2 1.97 19.85 11.15 31.00
EX-3 2.13 10.20 49.80 60.00
EX-5 2.12 6.00 72.00 78.00
EX-9 2.93 4.00 125.00 129.00
EX-10
including
2.51
3.52
54.65
14.00
18.35
43.00
73.00
57.00
EX-13 2.96 8.25 160.50 168.75
EX-17 1.74 10.65 155.65 166.30
EX-18 2.04 11.52 228.05 239.57
EX-22
including
4.16
6.40
21.00
12.67
74.25
77.28
95.25
89.95
EX-23 3.60 7.45 186.55 194.00
EX-25 2.72 17.85 133.10 150.95
EX-27 1.17 8.20 162.75 170.95
EX-28 2.08
1.98
3.26
3.73
71.16
148.59
74.42
152.32
EX-29 2.09
3.43
19.50
1.50
190.50
273.50
210.00
275.00
EX-31
including
2.39
8.03
30.19
3.82
110.81
132.14
140.00
135.96
EX-32
including
1.72
2.17
12.23
3.43
22.13
12.16
0.50
3.16
117.97
127.94
130.64
136.94
140.10
140.10
131.14
140.10
EX-33 4.95
3.34
2.00
3.45
243.25
260.91
245.25
264.36
EX-44 1.51
2.18
6.09
2.42
169.47
232.85
175.56
235.27
EX-45
including
1.17
1.70
5.00
2.00
190.50
191.50
195.50
193.50
EX-47 1.25 12.00 258.00 270.00

Zone 25 selected intersections

Nearby, at Zone 26, gold mineralization is hosted by a sulphide banded iron formation present in mafic volcanics of the La Grande sub-province. This zone occurs within the interpreted hinge of a southwest moderately plunging syncline and has been traced by drilling for 140 metres along the fold axis and to a depth of 185 metres below surface. Seven drill holes tested the zone and intersected inconsistent gold mineralization, with the best interval assaying 9.22 g/t Au over 12.55 metres, including 13.67 g/t Au over 7.35 metres. This high grade intersection occurs proximal to high grade sections intersected in Zone 25 (EX-31).

Hole # Au (g/t) Length (metres) From (metres) To (metres)
EX-19
including
9.22
13.67
12.55
7.35
53.80
58.25
66.35
65.60
EX-20 4.07 1.35 66.75 68.10
EX-31 2.75 1.50 63.79 65.29
EX-32 2.53
3.41
1.50
1.50
64.29
69.82
65.79
71.32
EX-48 1.00 9.00 49.00 58.00
EX-49 2.69 3.00 64.00 67.00

Zone 26 selected intersections

Both Zone 25 and Zone 26 occur within 50 metres of the contact between the two sub-provinces.

Jean-Sébastien Lavallée (OGQ #773), geologist, shareholder and President and Chief Executive Officer of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.

About Matamec Explorations

Matamec Explorations Inc. is a mining exploration company whose focus is developing the Kipawa HREE deposit with TRECan, with the goal of supplying Toyota with HREEs for the production of hybrid and electric cars. The company is exploring 35km of strike length in the Kipawa Alkalic complex for rare earths-yttrium-zirconium-niobium-tantalum mineralization on its Zeus property. Matamec is also exploring for gold at its Matheson joint-venture property, which is located along strike and in close proximity to the Hoyle Pond mine in 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. For more information, please visit www.matamec.com.

About Canada Strategic Metals

Canada Strategic Metals is an emerging growth company focused on the exploration and development of its early stage projects covering over 60,000 hectares throughout Quebec. With management experience in green technology and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising portfolio for its shareholders.

For more information on the Company, please visit www.csmetals.ca.

Neither the 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
Jean-Sebastien Lavallee, P. Geo
President & Chief Executive Officer
819-354-5146


Paradox Public Relations
514-341-0408

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