Additional Financing of $ 196 000

Matamec Explorations Inc. is pleased to announce that the remaining 196 ”B” units of the December 7, 2001 financing by prospectus have been purchased by investors. The funds have been received by Matamec on June 7 and 10. Each « B » unit consists of 4000 shares at $0,25 ($1 000) and 4000 warrants, each giving the right to the purchase of a share at $0,33$ valid until June 6, 2003. The proceed of this financing will be added to the general working capital of the company. A total of 784 000 shares (and the corresponding number of warrants) will be issued, which will bring the total number of shares issued to 16 702 209.