Matamec Announces that Canada Strategic Metals Has Acquired 50% Interest in the Sakami Property as the Sakami Summer Exploration Program Comes to a Close

MONTRÉAL, QUÉBEC--(Marketwired - Aug. 18, 2016) - Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT)(OTCQX:MHREF) and Canada Strategic Metals ("CSM") (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) are pleased to announce that the Summer 2016 Exploration Program at the Sakami property has been completed (see June 28th, 2016 press release). With the completion of this exploration program, CSM has fulfilled its obligations as per the option agreement signed on August 16, 2013, and has acquired a 50% interest in the Sakami property, which has been recently enlarged with the addition of 93 claim cells (see Figure 1 : Map of the Sakami Property).

Areas Explored During the 2016 Summer Exploration Program

The 2016 Summer program covered 4 areas of the property, and included a drilling campaign of 9 holes totaling 2,058 m on the La Pointe sector. It also comprised a total of 210 km of geophysical survey lines in the La Pointe, Île and JR West sectors, and a mapping and prospecting campaign in the Péninsule, Île and JR West sectors. The results of this exploration work will be shared as soon as they become available.

Sakami Property Geology

The property covers a major geological contact between two sub-provinces that are very favourable for hosting gold deposits. This geological setting comprises the Opinaca sediments, the La Grande mafic volcanics, and iron formations in association with a strong deformation zone, notably near the tectonic contact of the La Grande-Opinaca sub-provinces. The mineralization style and tectonic setting share considerable similarities with the Eleonore mine held by Goldcorp (see figure 2: Regional Geology Map, and the July 6, 2016 press release).

Since the announcement of expanded mineralization of the Cheechoo deposit by Sirios Resources on March 29, we have seen several significant exploration budgets announced along this major tectonic boundary. These include exploration programs by Sirios Resources (April 22, 2016-5.5M$CAD), Midland Exploration with Osisko Exploration (June 16, 2016-1M$CAD), and Les Mines Opinaca with Eastmain Resources and Azimut Exploration (June 16, 2016-2M$CAD).

Guy Desharnais, P.Geo., Ph.D. (OGQ No.1141), is a Qualified Person as per NI 43-101; he reviewed and approved the technical content of this press release.

"In the current climate of renewed interest in gold exploration in James Bay, we are eagerly looking forward to receiving the results of the summer 2016 exploration campaign," said André Gauthier, President and CEO of Matamec. "It further enhances the depth and breadth of gold properties in the Company's portfolio, not only in James Bay but also in Timmins in Ontario, which effectively demonstrates that Matamec's strategic vision, 'From Gold to Rare Earths,' is an added value for shareholders of the Company."