Matamec Explorations inc.

Matamec Explorations inc.

October 25, 2006 11:28 ET

Matamec Appoints Bay Street Connect as Investor Relations Firm

MONTREAL, QUEBEC--(CCNMatthews - Oct. 25, 2006) - Matamec Explorations Inc. ("Matamec") (TSX VENTURE:MAT) announces that it has finalized an arrangement with Bay Street Connect to provide investor relations and financial communications services for the Company. Bay Street Connect, a Toronto based employed-owned firm, provides communications services to Canadian public companies primarily in the mining sector. The contract for selected services, which has an initial term of 6 months and can be terminated with 30 days notice, requires a monthly retainer of $3,000 and the grant of 200,000 options exercisable at a price of $0.11 for a period of two years, which shall vest in increments of 25% during the first four quarters. These options, as well as their exercising conditions, are governed by the Company's stock option plan.

About Matamec

Matamec is a mining exploration company which has a polymineral exploration strategy, mainly on precious metals. It wholly owns 6 exploration properties in Quebec, as well as option to acquire interests in the Montclerg property in the Porcupine gold camp in Ontario. Considering the increasing interest for gold, the geological potential of the gold-bearing mineralization of Lesperance, Montclerg, Sakami and Valmont properties adds value to Matamec.

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Contact Information

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