Phoenix Matachewan Mines Inc.

Phoenix Matachewan Mines Inc.

September 27, 2005 10:36 ET

Phoenix Matachewan Mines Inc.: Strong Gold Mineralisation: Bottle Creek, Nevada

OTTAWA, ONTARIO--(CCNMatthews - Sept. 27 2005) - Phoenix Matachewan Mines Inc. (TSX VENTURE:PMM) ("PMM") today announced receipt and interpretation of extremely prospective rock geochemistry obtained from the Bottle Creek epithermal gold-silver project in northwestern Nevada. PMM has optioned the Bottle Creek Property from Golden Gryphon Exploration Inc. ("GGE") a private, British Columbia registered, company who are the operator of the project.

PMM Management is "very encouraged by the strong, positive, geochemical anomalies, and the implications this has for the potential presence of gold and silver mineralization on the property. This data significantly advances the project towards drill testing."

PMM and GGE have been actively exploring at Bottle Creek for several months, with PMM spending over US$600,000 to date. As part of a comprehensive and ongoing exploration program, 322 rock samples were collected from the claim group and analyzed for a suite of elements. The samples were analyzed by ALS-Chemex through their laboratories in Reno, Winnemucca, Elko and Vancouver.

Results display a strong clustering, within a six square km area, of anomalous elements considered to be indicative for the presence epithermal gold mineralization: most significantly gold (Au), arsenic (As), barium (Ba), bismuth (Bi), mercury (Hg), selenium (Se), antimony (Sb), thallium (Tl), and tungsten (W), which are tabulated below. The anomalies, designated Bluebird, Canyon Dome and South Halberg, are also closely associated spatially with past producing mercury mines and hydrothermal breccias marking the probable centre of an epithermal system.

Au As Ba Bi Hg Sb Se Tl W
ppb ppm ppm ppm ppm ppm ppm ppm ppm
Samples 320 322 322 322 322 322 322 322 322
Mean 7.96 674.02 607.55 0.23 13401.53 118.27 4.74 2.00 27.83
Maximum 215 15000 8400 8.97 150000 1500 322 30 322
Minimum 0.05 0.1 10 0.005 0.19 0.025 0.05 0.01 0.47

The geochemical sampling reported here occurs within a framework of favourable regional indicators and structures for gold and silver mineralization. They provide a compelling positive indication of the presence of an epithermal mineralising system. The clustering of anomalous results provides targets for diamond drilling envisaged for later this year. Archaeological surveying of potential drill sites will be commissioned as part of an application, with the Bureau of Land Management, for a permit to diamond drill.

The Bottle Creek Project is a 48.6 square km (18.7 square mi) claim block staked over very prospective low-sulphidation, epithermal, gold-silver targets in a district noted for past-production of mercury. The Sleeper Deposit, located 21km east of the Bottle Creek district, exhibits similar host stratigraphy, displays similar geochemical anomalies, structural controls, vein, breccia and stockwork mineralization as encountered at Bottle Creek. In all 1.6M oz of gold was produced from Sleeper with bonanza veins grading up to 160 oz/ton Au as well as stockwork ore generally grading less than 0.1 oz/ton Au.

P.L.Jones, P.Geo. is one of PMMs Qualified Persons under National Instrument 43-101 with regard to the Bottle Creek Project. Phoenix Matachewan Mines Inc. is a mineral exploration company with head office in Ottawa, Canada. In addition to the Bottle Creek Project, PMM operates the Swanson gold ore body and base metal project in northwestern Quebec, and the very prospective Steel River base metal project in northwestern Ontario.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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