VAL D'OR, QUEBEC--Following the webfin.com financial forum affair a hearing took place on May 1, 2002 at the "Commission des valeurs�mobilieres du Quebec (C.V.M.Q)". The Commissioners present at this hearing judged that Matamec had satisfied the requirements of the Law by carrying out it's corporative update, diffused by way of�press release on last� March 26, 2002 (French version and April 1�for the English version). The file is now closed at the C.V.M.Q.�and no blame or sanction is imposed to Matamec in this cause. In�the case of Mr. Luc Lamarche, an hearing will be held on May 7 in�order to answer the allegations which relate to him.
DRILLING
The drilling campaign initiated last March on the Sakami property�has temporarily been stopped for the springtime break-up period.�Until now, only part of the proposed drilling has been carried�out, i.e.: 1 682 meters on the zones 25 and 26, and 1 239 meters�over geophysical targets .� To complete this drilling campaign, 1�300 meters will be drilled around the end of May, after the break�up.� The results of the geophysical surveys carried out during�this last winter as well as those of the recent drilling are�
currently being compiled and studied.� The results will be�presented by way of a press release, soon.
Following the rest of the proposed drilling in May and June,�Matamec plans to carry out an exploration and a geogical mapping�campaing on the Northern sector of the property, considered�favorable for the discovery of other mineral-bearing showings.
APPOINTMENT�
Matamec Explorations Inc. announces the appointment of Mr Jean�Lavallee, mining engineer and geologist, on the board of directors of the Company.� Mr Lavallee has been active as mining engineer,�
geologist or director in the field of exploration and mining in�Canada and abroad, without interruption during more than 40 years,for several mining companies such as: Louvicourt Goldfield�Corporation, Sullivan Consolidated Gold Mines, Anacon Lead and�Zinc Mines, East Sullivan Mines, American Molybdenite, Les Mines�Huaron (Peru), Societe Nationale d'exploration Sonarem (Algeria),�Marietta Resources.� Later, he has worked as consultant for�various companies and organizations, like: Soquem, James-Bay�Development Society, Sullivan Consolidated, Richmond Mines,�Louvem, Commission des valeurs mobilieres du Quebec (C.V.M.Q).�Since the last few years, Mr Lavallee, judging that the Sakami�property is interesting, has followed closely the exploration�works carried out.� Matamec will benefit from his experience and�qualifications, as geologist and mining engineer, as well as by�his wide experience in the mining environment.
The TSX Venture Exchange does not accept responsibility for the�adequacy or accuracy of this release.
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