Results of the Drilling Program on Zones 25 and 26 of Sakami Property

Matamec Explorations Inc. is pleased to communicate the results of its drilling campaign realized on the sector of “La Pointe”, on the zones 25 and 25 of its Sakami property. We point out that the drill hole EX-44 encountered the zone 25 earlier than expected, which indicates that the structure of the zone 25 seems to steepen and to incurve in its western direction. For this reason, we express the hypothesis that the intersections encountered in the drill hole EX-28 do not belong to the zone 25, but would represent new zones in a particular fold of the larger anticlinal-synclinal structure in which is located the zone 25. The two drill holes EX-33 and ex-34 shop drugs were drilled to intersect the structure of zone 26 at a distance of 125 and 150 meters of the surface showing 26 in its assumed extension southwesterly. They have effectively intersected the structure of the zone 26 identified by an iron formation. Many anomalous gold values were obtained and the informations collected will be usefull to continue the study of this structure. The next drill holes will study, in particular, the hypothetical intersection of the plan of zone 26 with the one of zone 25. The high grade gold in values in the hole EX-19 (10.46 g/t Au over 10.8 meters – see press release dated of February 27th, 2002) suggest that the neighbouring of the intersection of these two plans represents a favorable spot for gold concentrations. Matamec intends to drill a few holes early this fall to verify this hypothesis.