Extension of Gold Zones 25 and 26 – First results from the winter drilling campaign

Matamec is pleased to report the results from hole Ex-31, one of seventeen (17) holes completed during the winter diamond drilling campaign. This hole was drilled 100 m. (328 feet) South West of hole Ex-10. Hole Ex-31 encountered both Zone 25 and Zone 26 with positive results. The main intersections were as follows:

• Intersection of Zone 26: from 57.29 m to 69.55 m for a length of 10.76 m (35ft) at 1.37 g/t Au including 5.76 m (19 ft) at 1.76 g/t Au. This intersection is at a vertical depth of 52 m.
• Intersection of Zone 25: from 110.81 m to 137.96 m for a length of 27.15 m (89 ft) at a grade of 2.52 g/t Au including a section of 4.69 m (15.4 ft) at a grade of 5.47 g/t Au. This intersection is at a vertical depth of 101m. .This intersection is at the end of the hole; hence the mineralization is still open.
• A third small one meter intersection has been encountered in between Zones 25 and 26 at 90.1 m with a grade of 6.53 g/t Au.

This intersection with Zone 25 confirms it extension along dip for about 150 m. from its intersection at surface in hole Ex-10. Hole Ex-10, reported on press release dated of February 27 2002, had a length of 54.65 m (179 ft) at a grade of 2.51 g/t Au including 27 m (89 ft) at 3.43 g/t Au. That intersection had started 12 m from surface. (All the assays were analyzed at the Bourlamaque Assay Laboratory of Val-d’Or). Results from the other sixteen (16) holes will be reported as they become available.