Phoenix Matachewan Mines Inc.

Phoenix Matachewan Mines Inc.

April 05, 2006 15:59 ET

Phoenix Matachewan Mines Inc.: New Issue

OTTAWA, ONTARIO--(CCNMatthews - April 5, 2006) - Phoenix Matachewan Mines Inc. (TSX VENTURE:PMM) announced today, that subject to the approval of the TSX-Venture Exchange, PMM plans to issue up to 6,000,000 units at a price of $0.18 per unit, with each unit comprised of one common share and one common share purchase warrant, each warrant exercisable at $0.25 into one common share to 1 April 2008. The funds are to be used for continued diamond drilling for PMM's Bottle Creek, Nevada gold property, as well as anniversary payments due under contract.

Robin Dow, CEO, has also exercised 400,000 warrants at $0.20 to provide more working capital.

"The statements in this Press Release may contain forward looking statements that may 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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