IAS Imasight (Tier2)

Further to its news release of February 28, 2014, Geomega Resources Inc.
("GeoMegA" or the "Company") (TSX VENTURE:GMA) announces a first tranche closing
(the "First Tranche") of a brokered private placement with Industrial Alliance
Securities Inc. ("IAS") consisting of 2,037,333 units (the "Units") at a
subscription price of $0.60 per Unit and 1,450,000 flow-through shares (each, a
"Flow-Through Share"), at a price of $0.70 per Flow-Through Share for gross
proceeds of $2,237,400 (the "Private Placement").


The Company will use the proceeds of the Private Placement for the ongoing
development of its separation process, exploration and development at its
Montviel property 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 "Closing
Date").


IAS exercised its 15% over-allotment option in full. The Company expects to
close a final tranche of the Private Placement around March 27, 2014. Including
the first and final tranches, the total gross proceeds of the Private Placement
will be $3,315,000. 


The Company has paid IAS a cash commission on the sale of the Units and
Flow-Through Shares of $145,431 and has issued 174,367 non-transferable agent's
options to acquire such number of common shares at a price of $0.60 exercisable
for a period of eighteen (18) months from the Closing Date.


An officer of the Company subscribed to 17,250 units of the Private Placement
(the "Insider's Participation"). The Insider's Participation is exempt from the
formal valuation and shareholder approval requirements provided under Regulation
61-101 respecting Protection of Minority Holders in Special Transactions
("Regulation 61-101"). The exemption is based on the fact that the market value
of the Insider's Participation or the consideration paid by such insiders does
not exceed 25% of the market value of the Company. The Company did not file a
material change report at least 21 days prior to the completion of the Private
Placement since the Insider's Participation was not determined at that moment.


The Common Shares, Warrants and the Flow-Through Shares acquired by the
subscribers are subject to a hold period of four months plus one day and may not
be traded until July 20, 2014 except as permitted by applicable securities
legislation and the rules of TSX Venture Exchange.


About GeoMegA (www.geomega.ca)

GeoMegA, which owns 100% of the Montviel rare earth elements/niobium project
located in Quebec, 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 Quebec. GeoMegA is committed to
meeting Canadian mining industry standards and distinguishing itself with its
innovative engineering, stakeholders engagement and its dedication to local
transformation benefits.


GeoMegA currently has 46,312,571 common shares issued and outstanding.

Neither 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 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Simon Britt
President and CEO
GeoMegA
(450) 465-0099
info@ressourcesgeomega.ca

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