Matamec Reports Extension of the TVZ onto the Hoyle Matheson Royalties Property

MONTRÉAL, QUÉBEC--(Marketwired - Nov. 29, 2016) - Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT)(OTCQX:MHREF) has recently compiled data provided by Goldcorp Inc. ("Goldcorp") under the Property Rights Exchange Arrangements Agreement ("PREAA") regarding exploration work completed in 2012 to 2015 on the TVZ zone, whose eastern extension is located on the Hoyle-Matheson Royalties ("HMR") Property (please see press releases on March 2^nd and April 18^th, 2016 for more details of the agreement between the two companies).

The HMR Property is contiguous to the operating Hoyle Pond Mine in Timmins, Ontario. The Leased Mining Rights and Fee Simple Mining Rights property are wholly owned by Goldcorp and Matamec retains a 1% net smelter royalty ("NSR") on the property (see Figure 1 for the localization of the HMR property). Drilling completed by Goldcorp on the HMR Property from 2012 to 2015 has shown that the TVZ zone extends onto these two claims. The 1% NSR on the Leased Mining Rights property is effective only after the first 500,000 ounces are produced; all other royalties have a 1% NSR that is effective from the first ounce produced.

The TVZ zone comprises a subvertical mineralized corridor with variable thickness that strikes and plunges gently to the northeast. The currently known mineralization occurs between 1,200m and 2,000m vertical depth on the two claims in question. It is hosted entirely within sedimentary rocks, which is not typical of the ore produced from the Hoyle Pond Mine. The zone appears to be cutting up-stratigraphy and may intersect the contact with the mafic volcanic package to the northeast. The TVZ zone is open in this direction, towards the Colbert Claim (see Figure 1). Goldcorp is not currently mining the TVZ zone, and has indicated that they presently have no plans for additional work on the HMR property.

Figure 1. Satellite Photo of the Hoyle Pond Mine area in Timmins showing the approximate extension of the TVZ zone onto the four claims upon which Matamec owns a 1% NSR. The yellow ellipses showing the position of TVZ1 and TVZ2 were plotted based on a public presentation by Goldcorp. http://media3.marketwire.com/docs/1078200_e.jpg

Caution

Matamec has not received any other drilling result on the TVZ zone, whose eastern extension is located on the HMR Property, since it received the latest drilling results pursuant to the PREAA in 2016. Although Matamec does not have an equity interest in these properties (Leased Mining Rights and Fee Simple Mining Rights claims), it does own royalties on these claims, which are contiguous with the operating Hoyle Pond Mine. The receipt of any royalty payments by Matamec in respect of these claims is entirely dependent upon whether Goldcorp decides to extract minerals from these properties.