Matamec Consolidates its Gold Position by Signing a Letter of Intent to Acquire Two Gold Properties in Quebec

MONTRÉAL, QUÉBEC--(Marketwired - Sept. 12, 2016) - Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT)(OTCQX:MHREF) is pleased to announce the signature of a memo of understanding (MoU) by means of which it may acquire the Casa Berardi South and Troilus North gold properties from Greg Explorations Inc. (Greg), subject to certain conditions (see the MoU section for more details).

With the properties it already owns, including the new Opinaca Gold West property, Matamec will hold an interest in the following gold properties (see Figure 1 for their locations):

• Near the Casa Berardi Mine, owned and operated by Hecla Québec, north of La Sarre in northwest Québec: The Casa Berardi South property (acquired at 100%) captures a rock structure that is parallel and analogous to the Casa Berardi mine for 15 kilometres, and has been relatively unexplored to date - see the Casa Berardi South Property section and Figure 2;
• In the northwest extension of of the former Troilus Mine host package, located northwest of Chibougamau, Québec: The Troilus North property (100%) straddles a northeastern extension of the volcanic sequence hosting the Troilus Mine deposit for about 10km - see the Troilus North Property section and Figure 3;
• In the geological setting that hosts the Éléonore mine near James Bay in Québec:
  • The Sakami property, 50% owned by Matamec, covers the Opinaca-La Grande geological contact, and the results of its Summer 2016 drilling campaign in the La Pointe Zone included 4.94 g/t Au over 21.05m - see the Sakami and Opinaca Gold West section and Figure 4;
  • The new Opinaca Gold West property, 100% owned by Matamec, is situated along the same geological formation as Goldcorp's Éléonore gold mine where new gold potential along this trend has been identified. The claims block covers a series of geochemical gold-arsenic anomalies and geological elements that suggests the presence of a gold bearing system along approximately 40 km - see the Sakami and Opinaca Gold West section and Figure 4;
• Along the stratigraphic rock formations east of the Hoyle Pond Mine owned and operated by Goldcorp in Timmins, Ontario: Matamec holds a royalty of 1% NSR on the new HMR property, a 50% interest in the Matheson JV property, and a 100% interest in the Pelangio property - see the HMR/MJV/Pelangio Properties section and Figure 5;
• In the promising setting of the historic Candego mine, in the Gaspé region: The Valmont property hosts Pb-Zn-Ag-Au mineralization from the historic Candego mine and several gold-bearing vein systems - see Valmont Property section and Figure 1.

"The gold potential associated with the geology of these properties, located across Quebec and in Ontario, is promising," said André Gauthier, President and CEO of Matamec. "Their quality and scope strengthens the company's gold portfolio and its position in the market."