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19 August 2011

$150,000 financings with limited partnership SODÉMEX II and with the Québec-North FTQ Regional Solidarity Fund

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$150,000 financings with limited partnership SODÉMEX II and with the Québec-North FTQ Regional Solidarity Fund

Matamec Explorations Inc. announces that it has concluded two financings totalling $300,000; one of $150,000 with SODÉMEX II and another $150,000 with the Quebec-North FTQ regional solidarity fund. The net proceeds from the two financings will be entirely allocated to the working capital. The first $150,000 financing was clinched on December 11th with SODÉMEX II. In return, the company issued 750,000 shares at a price of $0.20 per share and 750,000 warrants. Each warrant entitles SODÉMEX II to subscribe to a common share of the company at a price of $0.24 per share during a period of 6 months buy amoxicillin online and at a price of $0.28 per share between the 7th and 18th month of the subscription. As well, the shares are subject to a compulsory 4 months retention period. The second $150,000 financing was clinched on December 12th with the Quebec-North FTQ regional solidarity fund. In return, the company issued 750,000 shares at a price of $0.20 per share and 750,000 warrants. Each warrant entitles the Quebec-North FTQ regional solidarity fund to subscribe to a common share of the company at a price of $0.24 per share during a period of 6 months and at a price of $0.28 per share between the 7th and 18th month of the subscription. As well, the shares are subject to a compulsory 4 months retention period. Matamec Explorations Inc. is a Quebec based mining exploration company. Its exploration and development strategy is mainly focussed on precious metals. Therefore, the Sakami and Lespérance properties are deemed a priority. Located in James Bay, the Sakami property has been the recipient of surface exploration work that has led to the discovery of several gold showings spread out over 35 kilometres along the Sakami deformation corridor. As to the Lespérance property located in the Lac Shortt region (Chibougamau mining district), previous work has permitted the identification of several gold showings (10,2 g/t Au over 1m and 5,4 g/t Au over 2,4m) and copper-gold mineralizations remobilized along contiguous fractures (2,6% Cu-3,1 g/t Au over 3,25m). As well, Matamec possesses other properties that have a potential for gold, base metals and rare metals. Thus, the Vulcain property contains massive sulphides mineralized in nickel-copper and, to a lesser extent, in cobalt-platinum group elements-gold-silver.