Phoenix Matachewan Mines Inc.

Phoenix Matachewan Mines Inc.

March 18, 2008 09:00 ET

Phoenix Matachewan Mines Inc.: Line Cutting Starts at Barville

ORLEANS, ONTARIO--(Marketwire - March 18, 2008) - Robin Dow, CEO of Phoenix Matachewan Mines Inc. ("Phoenix") announced today that 124 km of line cutting is in process at its Barville zinc-silver property, 65 km north of Val d' Or, QC, and is expected to be completed before month end.

Once the line cutting is completed, Phoenix will begin an Infinitem deep penetrating EM survey in order to obtain a 3-dimensional representation, to a vertical depth of 300 meters, of strong EM anomalies obtained in a previously flown airborne VTEM survey. Abitibi Geophysique of Val d'Or will conduct the survey. The main purpose of this survey is to precisely define the targets, so as to optimize the drilling program.

Once the Infinitem survey is complete, diamond drilling of the most prospective zones will proceed, and is expected to begin about mid May. MRB and Associates Ltd will oversee the technical aspects of the program.

The Barville property includes the west and southeast on-strike extensions of the Abcourt Mine horizon. Abcourt is returning to production with an undiluted measured and indicated mineral resource of 7,018,969 tonnes containing 61 .19 g/t Ag and 3.33 % Zn, and an undiluted inferred resource of 1,505,687 tonnes containing 120.53 g/t Ag and 2.98 % Zn (GENIVAR 2007. Abcourt-Barvue project. Barraute, Quebec. Technical feasibility study report on the Abcourt Barvue deposit. Report by GENIVAR and BUMIGEME to Abcourt Mines Inc. 167 p. and appendices).

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

"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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