Matamec Explorations inc.

Matamec Explorations inc.

April 05, 2007 10:45 ET

Matamec Acquires Matheson East & West Gold Properties from Pelangio Mines

MONTREAL, QUEBEC--(CCNMatthews - April 5, 2007) - Matamec Explorations Inc. ("Matamec")(TSX VENTURE:MAT) is pleased to announce that it has entered into an agreement with Pelangio Mines Inc. (Pelangio) whereby it can acquire a 100% interest in the Matheson properties comprising the East and West Blocks and consisting of 10 claims comprising approximately 160 hectares located in the Matheson township in East Timmins area (see Figure 1 at the following address: For the 100% interest, Matamec will issue 100,000 common shares to Pelangio and spend $250,000 in exploration over the next five years.

This transaction is in line with Matamec's strategy of acquiring properties in Matheson township. These 2 blocks of claims are surrounded by existing Matheson properties (see February 19, 2007 press release) and complete the acquisition of one of the promising horizons for gold-bearing mineralization, namely the northern gold bearing corridor. Some advanced exploration work was done on this corridor and several geochemical and geophysical anomalies have yet to been drilled.

The property is currently subject to a 2.5% NSR with Asarco Exploration Company of Canada Ltd. and 0.5% NSR to McArthur Minerals, and Pelangio will retain a 1% NSR which can be purchased by Matamec at any time for $1,000,000 and 100,000 common shares. The transaction is subject to the approval of regulatory authorities.

The geological data for this press release was prepared by Aline Leclerc, geologist and Vice-president Exploration of Matamec, and a Qualified Person under NI 43-101.

About Matamec

Matamec is a mining exploration company which is exploring for significant gold and uranium deposits in Ontario and in Quebec. For gold, it has mainly targeted the East Timmins mining camp where certain properties have not been fully investigated on surface and/or at depth. Furthermore, it has 8 exploration projects in Quebec, 4 of which focus on uranium.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Matamec Explorations Inc.
    Andre Gauthier
    Matamec Explorations Inc.
    Michael D'Amico
    Investor Relations