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19 August 2011

Matamec Receives More High Grade Gold Results – 6.4 g/t Au over 12.67 m (41.6 ft) including 24.2 g/t over 2.59 m (8.5 ft)

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Matamec Receives More High Grade Gold Results – 6.4 g/t Au over 12.67 m (41.6 ft) including 24.2 g/t over 2.59 m (8.5 ft)

Matamec Explorations Inc. is pleased to announce the last results of the second phase diamond drill program on its Sakami property located in the James Bay area. A few weeks ago, Drill hole EX-19 (the first aimed at Zone 26) had returned a very promising result of 9.7 g/t Au over 11.8 m (38.7 ft) including 28.7 g/t Au over 2.5 m (8,7 ft). Drill hole EX-22 (the second aimed at this zone), drilled 70 m (230 ft) south-east of drill hole EX-19 (between Zones 25 and 26), was aimed at testing the structure of Zones 25 and 26 and the hinge area of the folded iron formation, where gold appears to be best concentrated. Results indicating a high gold content were obtained in this drill hole, such as: 3.98 g/t Au over 22.07 m (72.4 ft) including 6.4 g/t over 12.67 m (41.6 ft) and 24.2 g/t Au over 2.59 m (8.5 ft). These significant mineralized zones were intersected at depths of 50 m (164 ft) in EX-19 and 61 m (200 ft) in EX-22. Mineralization in Zone 26 plunges 50° to 60° to the southwest, inland and away from Lake Sakami. Drill hole EX-25, situated 92 m (300 ft), west of drill hole EX-22, was aimed at Zone 25. However, as with drill hole EX-22, it intersected a mix of Zones 25 and 26; returning 2.5 g/t over 19.85m (65.1 ft), including 4.1 g/t over 7.95m (26.1 ft) and 9.1 g/t over 2.0 m (6.6 ft). It is now becoming more evident that present mineralized zones were originally Iron formations, which were later transformed by the intrusion of a large granitic body (the hill) which towers above the surface showings. Zone 25 hosts a felsic intrusive dyke which mixes with an iron formation at depth. As a result of a long process, gold has been dispersed throughout this mixed zone resulting in lower gold grades, but over much greater widths. Zone 26 has remained an iron formation in which gold mineralization is very significant. Therefore, Zones 25 and 26 merge at depth and gold mineralization would appear to increase at depth approaching Zone 26 (to the west). The table listing results is presented below: Drill hole ---- From (m) ------ To (m) ----- Length (m) ----------- Grade --------- Target EX-22 --------- 74.25 --------- 96.32 ------ 22.07 m (72.4 ft) ---- 3,98 g/t Au --- Zone 25/ 26 Including ----- 77.28 --------- 89.95 ------ 12.67 m (41.6 ft) ---- 6.40 g/t Au Including ----- 77.28 --------- 79.87 ------- 2.59 m (8.5 ft) ---- 24.20 g/t Au EX-23 --------- 118.65 -------- 120.00 ------ 1.35 m (4.4 ft) ----- 1.97 g/t Au --- New Zone ----------------- 172.80 -------- 196.00 ----- 23.20 m (76.1 ft) ---- 1.89 g/t Au --- Zone 25 Including ----- 187.70 -------- 191.90 ------ 4.20 m (13.8 ft) ---- 4.95 g/t Au EX-25 --------- 132.10 -------- 151.95 ----- 19.85 m (65.1 ft) ---- 2.50 g/t Au --- Zone 25/26 Including ----- 134.10 -------- 142.05 ------ 7.95 m (26.1 ft) ---- 4.10 g/t Au Including ----- 135.10 -------- 137.10 ------ 2.00 m (6.6 ft) ------ 9.10 g/t Au EX-27 --------- 162.75 -------- 194.20 ----- 31.45 m (103 ft) ---- 0.802 g/t Au --- Zone 25 Including ----- 162.75 -------- 171.95 ------ 9.20 m (30.2 ft) ---- 1.14 g/t Au ·Ex-24 and EX-26 were aimed at Zone 25 and drilled at an azimuth of 040 degrees to verify the orientation of this zone. Weak gold mineralization was encountered. All samples reported in this news release were assayed at Bourlamaque Assay Laboratories Ltd. in Val-d'Or. Results obtained during the first two drill programs indicate that gold mineralization lies at relatively shallow depths and spans very significant widths. In addition, mineralization in Zone 26 dips inland (to the southwest) and many other mineralized zones in the vicinity of the established zones, are anomalous in gold. For these reasons, Matamec's management is very encouraged and excited in the continuing efforts on its Sakami Project. As early as February 2002, a diamond drill program aggregating 2,000 m (6,600 ft) and geophysical surveys will be completed on the new gold showings, Kalmia, Passe, JR and Ile. The program costs (400,000$) will be funded by Quebec's Ministry of natural resources, under its financial support program to junior mining exploration companies. A drill program specifically aimed at Zones 25 and 26 will also be undertaken in March 2002, with the objective of better defining the structural controls on these zones, as well as evaluating the extensions of mineralization intersected in drill holes EX-19, EX-22 and EX-25.
The Canadian Venture Exchange (CDNX) does not accept responsibility for the adequacy or accuracy of this release.