Matamec Explorations inc.

Matamec Explorations inc.

March 15, 2005 09:58 ET

Matamec Explorations Inc.: Confirmed Nickel-Copper Mineralization on Vulcain




MARCH 15, 2005 - 09:58 ET

Matamec Explorations Inc.: Confirmed Nickel-Copper
Mineralization on Vulcain

MONTREAL, QUEBEC--(CCNMatthews - March 15, 2005) - Matamec Explorations
Inc. ("Matamec") (TSX VENTURE:MAT) is pleased to announce the first
drilling results on the Vulcain property, situated 165 kilometres
southeast of Val d'Or. Several intrusions of ultramafic rock mineralized
in nickel-copper-cobalt and precious metals are recognized on this
property of approximately 90 km2.

The exploration campaign which has just ended consisted of drilling a
first EM geophysical anomaly of 700 metres long centered on the Renzy
Lake ultramafic intrusion. Other geophysical anomalies are identified in
this intrusion and will be the target of future drilling campaigns.

Nineteen vertical drill holes were completed for a total of 1,500
metres. The first nine holes were aimed at exploring the southern part
of the anomaly while the latter ten drill holes aimed at better defining
the resources in the northern part, site of the past-producing Renzy

The first results are focused on the drill holes in the southern part
which totaled 697 metres. Eight drill holes intersected
pyrrhotite-chalcopyrite-pentlandite mineralization in the ultramafic
layers enclosed in paragneisses. A zone of mineralized ultramafic rocks
275 metres long by 150 metres wide is now recognized in the southern
part of the EM anomaly and represents the southward continuity of the
northern mineralized zones.

Each of the eight drill holes has one or several of these types of
mineralization, that is: magmatic breccia with sulphidic matrix,
massive sulphide veins, sulphide veinlets in all directions and finely
disseminated sulphides over core lengths varying from 5.75 to 29.53
metres. The best results are presented in the following table:

(not Ni Cu Co Au Pt Pd Ag
from-to definite) % % % g/t g/t g/t g/t
Drillhole (metres) (metres)
RZ-05-01 11.82-
17.97 6.15 0.57 0.63 0.033 0.062 0.031 0.059 1.0
Including 2.30 1.00 1.07 0.052 0.063 0.032 0.092 1.6
RZ-05-03 11.00-
16.80 5.80 0.42 0.59 0.028 0.081 0.054 0.090 1.3
RZ-05-04 10.80-
16.60 5.80 0.26 0.34 0.021 0.056 0.039 0.035 1.0
RZ-05-05 14.00-
24.35 10.35 0.42 0.71 0.023 0.090 0.057 0.068 less
Including 3.00 1.02 1.58 0.052 0.053 0.070 0.120 less
RZ-05-06 18.35-
23.00 4.65 0.58 0.72 0.033 0.070 0.053 0.063 less
RZ-05-07 12.30-
17.20 4.90 2.12 1.68 0.145 0.088 0.064 0.171 1.8
33.00 6.25 0.40 0.41 0.025 0.036 0.036 0.039 less
RZ-05-09 27.45-
43.10 15.65 0.29 0.29 0.020 0.048 0.070 0.067 1.1

Only one drill hole, the RZ-05-02, did not intersect ultramafic rock or
mineralization even though its location is the centre of a strong EM
anomaly. It is the same for drill hole RZ-05-08 which only returned low
assay values. These two drill holes have anomalies with amplitudes
similar to the anomalies of drill hole RZ-05-07 which cut good
intersections of massive sulphide mineralization. Other drill holes will
have to be done in the vicinity of these two drill holes.

As for quality control, the exploration program was conducted under the
supervision of Aline Leclerc, vice-president of exploration, qualified
person according to Canadian standard 43-101 and has a vast experience
in the mining industry.

The assayed samples, taken as core halves whose length varies from 0.30
to 1.50 metres were shipped and analyzed at ALS Chemex Chimitec of Val
d'Or. The samples were assayed for nickel, copper, cobalt and silver by
multi-acid digestion and for gold, platinum and palladium by fire assay
according to industry standards.

Furthermore, Matamec announces that it has issued 90,512 common shares
at a price of 0.10$ per share for the payment of accrued interest in the
amount of 9,051.20$ on a convertible debenture of 150,000$ issued
January 15th 2004.


Contact Information

    Matamec Explorations Inc.
    Andre Godbout, Eng.
    (418) 831-2977
    Matamec Explorations Inc.
    Aline Leclerc
    Vice-president, Exploration
    (819) 738-7134