Geomega Resources Inc. announced the complete results of the Phase 3 diamond drilling on its rare earth elements ("REE") project Montviel in Quebec. Located in the south wall rock of the Core Zone, the heavy REE zone ("HREE-S Zone") was intersected by five drill holes over 350 m (East-West) by 20 m (North-South) by 230 vertical and still open in depth. The heavy REE minerals are fluoro-carbonates similar to those found in the Core Zone.

Drill holes MVL-13-80 and MVL-13-82 completed Phase 3 and defined the east and west extremities of the HREE-S Zone. The new geological interpretation will be available on the Company's website in the upcoming days. Currently, the most critical REE are neodymium (Nd) and dysprosium (Dy) due to the growing demand for high-performance permanent magnets.

Global market projections indicate a high growth rate of 8.7% annualized over the next five years and a value of USD 22.9 billion in 2018 (USD 13.9 billion in 2012).