IMC Ibero Mining Corp

Geomega Resources Inc. ("GeoMegA" or the "Company") (TSX VENTURE:GMA) announces
the signing of a non-binding letter of intent ("LOI") with Innovation Metals
Corp. ("IMC") for the processing of a quantity of neodymium-rich concentrate in
Becancour, Quebec, derived from the Company's Montviel rare-earth element (REE)
project.


IMC is planning the development and construction of an independent REE
separation facility (the "Facility"), to be located within the Becancour
Waterfront Industrial Park in Quebec, Canada. The Facility will be capable of
processing mixed REE concentrates derived from multiple mineral sources, via a
centralized plant design. The focus will be on REE concentrates rich in critical
REEs such as neodymium, europium, terbium, dysprosium and yttrium.


"We anticipate that neodymium will account for approximately 60% of the REE
distribution in the Montviel concentrate." comments Simon Britt, CEO of GeoMegA.
"Processing Montviel's concentrate into separated REEs generates a significant
increase in value whereby it maximises revenues from production and multiplies
the pool of end-users. It is a privilege to be invited as a future producer in
the IMC Consortium."


"We are very pleased to welcome GeoMegA into the newly formed IMC Consortium,"
comments Gareth Hatch, President of IMC. "Neodymium is vital for the production
of high-performance permanent-magnet materials, used in a wide variety of
electrical machines. Such machines are already in increasing demand with the
growth of sustainable-energy initiatives such as hybrid and electric vehicles
and direct-drive wind turbines. End users in the IMC Consortium will appreciate
having access to secure sources of neodymium and other critical REEs." 


Mr. Britt adds, "IMC's business model, based on a low-cost tolling fee for the
processing of mixed REE concentrates into separated REEs, is very valuable for
producers since it realizes the full value and pricing for the REEs, without the
capital expenditure and know how required to build a REE separation facility.
The added revenues will favour the economics in our preliminary economic
assessment ("PEA")."


An update on the ongoing PEA with G Mining Services Inc. for the Montviel
project is scheduled for next month.


About the Montviel Rare Earths/Niobium Project 

The Montviel Rare Earths/Niobium Project is located approximately 45 km west of
the Cree First Nation of Waswanipi and 100 km north of Lebel-sur-Quevillon in
the southern, developed, part of Quebec's "Plan Nord" (North of 49th parallel).
The Plan Nord is an $80 billion economic, social and environmental development
plan of Northern Quebec over a period of 25 years. Montviel's initial NI 43-101
compliant resource calculation at a base cut-off grade of 1% TREO, released on
September 29, 2011, totalled 183.9 Mt averaging 1.45% TREO in the Indicated
resources category and 66.7 Mt averaging 1.46% TREO in the Inferred resources
category. Montviel, one of the largest TREO resources outside China, has the
potential for a significant near-term role in the growing permanent-magnet
sector due to its proximity to infrastructure and available labour. The PEA
study, ongoing with G Mining Services Inc., will focus on the Rare
Earths/Niobium enrichment zone of the deposit.


NI 43-101 Disclosure 

Gary H.K. Pearse, P.Eng., MSc., metallurgical consultant and Alain Cayer, Geo.,
MSc., VP-Exploration, are the Qualified Persons who approve the technical
information presented in this news release.


About GeoMegA (ressourcesgeomega.ca)

GeoMegA, which owns 100% of the Montviel Rare Earths/Niobium project, is a
Quebec mineral exploration company focused on finding economically viable
deposits of Minor Metals in Quebec. GeoMegA is committed to meeting Canadian
mining industry standards and distinguishing itself with its expertise, know-how
and its support and respect for local communities and the environment.


29,274,113 common shares of GeoMegA are currently issued and outstanding.

About IMC (innovationmetals.com)

IMC is a private Canadian-based company founded in 2011. IMC's goal is to
alleviate the bottleneck that has formed in the rare-earth supply chain, through
the creation of the world's first independent, centralized rare-earth separation
facilities, to be located in Becancour, Quebec. The company intends to bridge
the gap between producers and end users via the creation of a Consortium,
through which it will provide low-cost material tolling programs to producers,
and assuring security of supply for end users and sovereign governments. IMC is
also developing innovative trading platforms, to further increase the
opportunities within the rare-earth sector for traders.


Simon Britt, Chief Executive Officer

Cautions Regarding Forward-Looking Statements 

This news release contains forward-looking statements regarding our intentions
and plans. The forward-looking statements that are contained in this news
release are based on various assumptions and estimates by the Company and
involve a number of risks and uncertainties. As a consequence, actual results
may differ materially from results forecast or suggested in these
forward-looking statements and readers should not place undue reliance on
forward-looking statements. We caution you that such forward-looking statements
involve known and unknown risks and uncertainties, as discussed in the Company's
filings with Canadian securities agencies. Various factors may prevent or delay
our plans, including but not limited to, contractor availability and
performance, weather, access, mineral prices, success and failure of the
exploration and development carried out at various stages of the program, and
general business, economic, competitive, political and social conditions. The
Company expressly disclaims any obligation to update any forward-looking
statements, except as required by applicable securities laws.

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