Matamec Announces Encouraging New Results From the Summer 2016 Drilling Program at Sakami Gold Property

An Intersection of 4.94 g/t Au over 21.05 metres - Seite 2

** Results already announced in a press release dated August 25, 2016.

The program is aimed at increasing the size of the main gold zone (Zone 25) to the west-northwest, as well as its south extension at depth. Zone 25 is in the La Pointe sector of the Sakami property. Once this program is complete, Zone 25 will have been tested laterally over more than 300 metres and over 500 metres along its strike.

As soon as CSM and Matamec have received and compiled the results from drillholes PT-16-93 to PT-16-99, they will be disseminated. The locations of the new drill holes are presented in figure 1. Highlights of previous results can be found on the press release dated April 4, 2016.

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.

"Taken together with the promising results from the first hole, these positive findings reinforce our understanding of the main gold zone at Sakami," said André Gauthier, president and CEO of Matamec. "We look forward to obtaining and sharing the complete results of this summer's drilling program."

About Matamec

Matamec Explorations Inc. is a junior mining exploration company whose main focus is in developing the Kipawa HREE JV deposit owned at 72% by the Company and 28% by Ressources Québec (acting as agent of the Government of Québec); Toyota Tsusho Corp. (Nagoya, Japan) holds a 10% royalty on net profit in the deposit. Furthermore, the Company is exploring more than 35 km of strike length in the Kipawa Alkalic Complex for rare earths-yttrium-zirconium-niobium-tantalum mineralization on its Zeus property.

The Company is also exploring for gold, base metals and platinum group metals. Its gold portfolio includes the Hoyle-Matheson Royalties (see the March 2, 2016 and April 28, 2016 press releases), Matheson JV (MJV) and Pelangio properties located along strike and in close proximity to Goldcorp's Hoyle Pond Mine in the prolific gold mining camp of Timmins, Ontario. Matamec holds a 50% undivided interest in the MJV property and is its operator. In addition, the Company holds a 1% NSR royalty in the Montclerg Property located 48 km northeast of Timmins along the Pipestone Fault.