Phoenix Matachewan Mines Inc.
TSX VENTURE : PMM

Phoenix Matachewan Mines Inc.

December 18, 2007 08:00 ET

Phoenix: 30 New Claims Staked Next to Abcourt Barvue Zinc-Silver Mine, Options Granted

OTTAWA, ONTARIO--(Marketwire - Dec. 18, 2007) - Phoenix Matachewan Mines Inc. ("Phoenix" or "PMM")(TSX VENTURE:PMM) is pleased to announce that Phoenix has staked 30 new claims, covering 1,264,59 ha, adjacent to the Abcourt Barvue Zinc-Silver mine, 65 km north of Val d'Or, QC.

Abcourt Mines Inc. announced in February 2007 that it had completed a NI 43-101 feasibility report on the Abcourt-Barvue project, and intended to apply for permits, prepare detailed engineering plans and begin the construction of an 1,800-tonne-per-day mine/mill complex, based on a total of 6,823,532 tonnes of ore, open pit and underground, at an average reported grade of 57.76 g/t silver and 3.11% zinc.

Phoenix now has 124 claims covering 5,078.4 ha in Barraute and Landrienne Townships. Phoenix believes that the claims completely cover a crescent shaped mineralized trend immediately to the north-west, west and south-west of the mine, as well as two claims right next to the eastern boundary of the mine, and continuing to the south east.

Currently Phoenix is preparing a compilation report which will examine the recent geophysics flown, its reinterpretation, and the historic data already in hand from previous IP, sampling and drilling.

Phoenix is currently contracting line cutting and ground geophysics for January 2008 as preparation for a diamond drilling programme, to take place as soon as possible in the first quarter of 2008.

Dr. James M. Franklin, FRSC, P. Geo is the qualified person for Phoenix under National Policy 43-101.

Phoenix also reports that 250,000 stock options, exercisable at $0.10 to 1 December 2012 have been granted to two contractors.

"The statements in this Press Release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has not approved or disapproved of the information contained in this Press Release."

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