A $278,000 Financing For Vulcain

Matamec Explorations Inc. ("Matamec") (TSX VENTURE:MAT) announces the conclusion of a private placement of $278,000. The proceeds of the financing will mainly be allocated to the Company's exploration program on the Vulcain property for 85%, 5% to the working capital and 10% for the brokerage fees. Matamec issued 2,780,000 shares at a price of 0.10$ per share. Of this total, 2,363,000 shares represent flow-through shares of which the proceeds will be committed as CEE (Canadian Exploration Expense) on or prior to December 31st, 2005. As well, 1,390,000 warrants were issued at a price of 0.15$ per share valid until December 31st, 2005. Of these warrants, 80% will give the right to subscribe to flow-through shares and 20% to common shares. All shares issued are subject to cheap pills online without prescription a compulsory 4-month-hold period following the placement closing. For the sum of $236,300 allocated to the exploration program, Matamec intends to conduct some drilling on the Vulcain property. There is copper-nickel mineralization within ultramafic intrusions on the property and this fall, 19 geophysical targets were clearly identified. This winter, the first target drilled will be an EM geophysical anomaly that is approximately 700 metres long by 100 metres wide. As well, Matamec would like to inform that the stock option shares issued to M. Raynald Vezina, independent administrator, divulged in the October 27th press release, may be exercised at a price of 0.10$ per share for a duration of 5 years. As well, Matamec advises that it has acquired contiguous claims to the Zeus property held by the Company in consideration of a 1.25% net smelter royalty. Among the sellers are two Matamec directors, that is Andre Gauthier and Aline Leclerc, as well as from Mistassini Minerals Resources Inc., a company that Andre Gauthier and Aline Leclerc are directors.