Matamec elects new director and grants stock options

Matamec Explorations Inc. ("Matamec") is pleased to announce that, at the annual meeting held on June 26, 2008, shareholders re-elected André Gauthier, Aline Leclerc, Laval St-Gelais, Patrick Bradley and James D.A. White as directors of the Company. Mr. Raynald Vézina did not seek another term as a director, but will continue to act with the Company as a technical special adviser. The Board of Directors and management of Matamec wish to acknowledge Mr. Vézina’s valuable contribution since the fall of 2004. Mr. Richard H. Sutcliffe was also elected by shareholders to Matamec’s Board of Directors to replace Mr. Vézina. Mr. Sutcliffe, Ph.D., P. Geo. is a geologist with more than 25 years of mining experience with regards to exploration, development, operation and financing. He is President, CEO and director of URSA Major Minerals Inc. (TSX: UMJ), a mining company operating mainly in base metals. He is also the Chairman of the Board for Patricia Mining Corp. (TSX Venture: PAT), a mining company involved in the production and exploration for gold. In addition, he is a Director for Nyah Resources Corp. (TSX Venture: NRU), a mining company involved mainly in uranium exploration. From 1999 to 2005, he was Director of North American Palladium Ltd. The addition of Mr. Sutcliffe to Matamec’s Board of Directors will significantly contribute to the continued success of Matamec. In accordance with the Company’s internal policy, Mr. Sutcliffe has been granted 400,000 stock options at $0.195 each for a period of five years as of the last board meeting of the Company. These options, as well as the terms and conditions of their exercise, are governed by the Company’s Stock Option Plan.