Plan of arrangement on spin-off of its uranium properties and financing by rights offering prospectus

Matamec Explorations Inc. ("Matamec") announces that following receipt of the requested independent valuation regarding the value of its uranium properties to be transferred to its wholly-owned subsidiary (“Newco”), the Board of Directors approved the Plan of Arrangement and the financing of Newco by a Rights Offering Prospectus. Pursuant to the Plan of Arrangement which will soon be submitted to Matamec shareholders for approval, the Matamec shareholders will receive a total of 9,870,000 units comprised of 1 Newco common share and ¼ of warrant, each whole warrant entitling to acquire 1 Newco common share. The units of Newco will be distributed to the Matamec shareholders according to a 5:1 ratio. The arrangement is subject to the approval of the TSX Venture Exchange (the “Exchange”) regarding the listing of Newco’s share on the Exchange, an advanced ruling of the Canada Revenue Agency, the authorization of the Québec Superior Court and the approval of Matamec shareholders by a two-third’s (2/3) majority at a General and Extraordinary meeting to be called to this effect. As soon as Matamec receives the required regulatory approvals, the date of the Annual and Extraordinary Meeting will be announced. As for the financing of Newco, it will be conducted by way of Rights Offering Prospectus with Matamec shareholders residing in the provinces of Québec, Ontario, Alberta and British Columbia. This financing will allow Newco to meet the listing requirements for the listing of its securities on the Exchange and will allow Newco to carry out exploration work. Matamec intends to file a prospectus with the relevant regulatory authorities in the upcoming weeks.