Geomega Resources Inc.: Closing of Aggregate of $3,315,000 Brokered Private Placement

MONTREAL, QUEBEC--(Marketwired - April 14, 2014) - Further to the news releases of February 28^th and March 19^th, 2014, Geomega Resources Inc. ("GéoMégA" or the "Company") (TSX VENTURE:GMA) announces the final closing (the "Final Tranche") of a brokered private placement with Industrial Alliance Securities Inc. ("IAS") acting as agent consisting of 1,796,000 units (the "Units") at a subscription price of $0.60 per Unit for gross proceeds of $1,077,600. Considering the first tranche of the private placement, the total gross proceeds are $3,315,000 (the "Private Placement").

The Company will use the proceeds of the Private Placement for the ongoing development of the separation process, exploration and development at the Montviel property located in Quebec and working capital purposes.

Each Unit consists of one common share (a "Common Share") and one-half of one share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles the holder thereof to acquire one additional common share at a price of $0.90 per share for a period of 18 months from March 19, 2014.

The Company has paid IAS a cash commission on the sale of the Units of $49,363 and has issued 89,800 non-transferable agent's options to acquire such a number of common shares at a price of $0.60 exercisable for a period of eighteen (18) months from April 14, 2014.

The Common Shares and Warrants acquired in the Final Tranche are subject to a holding period of four months plus one day and may not be traded until August 15, 2014 except as permitted by applicable securities legislation and the rules of the TSX Venture Exchange.

About GéoMégA (www.geomega.ca)

GéoMégA, which owns 100% of the Montviel rare earth elements/niobium project located in Québec, is a mineral exploration and development company focused on the discovery and sustainable development of economic deposits of metals, such as rare earth elements, niobium and graphite, in Québec. GéoMégA is committed to meeting the Canadian mining industry standards and distinguishing itself with innovative engineering, stakeholders engagement and dedication to local transformation benefits.

GéoMégA currently has 48 820 883 common shares issued and outstanding.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 forecasted 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.