New Results up to 22 g/t Au on Matheson JV Gold Property

Matamec Explorations Inc. ("Matamec") is pleased to announce assay results for two drill holes in Target A on the Matheson JV Gold Property (Figure 1). Hole MM08-08 intersected in the North Mafic Volcanics 22.8 g/t gold over 1.0 metres in a weak Grey Zone and 5.27 g/t gold over 2.0 metres in altered mafic volcanics. This hole was extended into the South Mafic Volcanics and intersected two anomalous zones of 1.26 g/t gold over 4.8 metres and 2.09 g/t gold over 3.0 metres (Figure 2). Hole MM08-05 intersected in the North Mafic Volcanics 3.69 g/t gold over 1.0 metres in a moderate Grey Zone and 3.92 g/t gold over 1.0 metres in altered mafic volcanic (Figure 3). The assays reported in the following chart are only those that assayed above 1.0 g/t and the length is core length not true width. Also, Matamec completed the two deep holes testing Target B on the Mill Creek/Colbert Zone (“MCC Zone”). Drill hole MM08-12 intersected the North Mafic Volcanic package from 491.0 metres to 562.25 metres down hole with a 3.05 metre intense Grey Zone followed by a moderate to weak Grey Zone to 498.05 metres and silicified/sericitized mafic volcanics to 562.25 metres. At 496.2 metres a 2cm quartz stringer contained several flakes of visible gold. Hole MM08-12 ended at 569.5 in ultramafic volcanics. Hole MM08-13 intersected the North Mafic Volcanics from 515.0 metres to 657.5 metres down hole and ended at 668.0 metres. This hole has not been logged as of the release of this information. Matamec is presently awaiting results for holes MM08-04, MM08-06, MM08-07 and MM08-09 to MM08-13. We expect most of these results to be available by the third week of September and will be released as results for complete holes are received. Matamec has completed the first drilling program on the Matheson JV and will evaluate the data collected and refine the targets on the MCC Zone as well as identify targets elsewhere on the property for testing later in the year. Matamec Explorations Inc. maintains a quality control program conforming to industry best practices in the sampling and analysis of drill core. The NQ core is split and submitted in batches containing a known standard, blank and a pulp duplicate to the Actlabs preparation facility in Timmins where the samples are reduced to pulps and couriered to Actlabs in Ancaster, Ontario for analysis. The samples are analysed by fire assay methods on a 50 gram sample size with a gravimetric finish. The samples and core are managed in a secure location until delivered to Actlabs. Actlabs maintains ISO 17025 certification, the highest accreditation available for QA/QC. The geological data of this Press Release was prepared by Bill MacRae, VP Exploration (Ontario) for Matamec and a Qualified Person as defined by NI 43-101.