TORONTO, July 17, 2026 (GLOBE NEWSWIRE) -- Matachewan Consolidated Mines, Limited (TSXV: MCM.A) (“Matachewan” or the “Company”) announces that, effective July 17, 2026, Mr. Richard (Bo) McCloskey has resigned as Chief Executive Officer and Director of Matachewan. The Company recognizes the many contributions of Mr. McCloskey over the past 50-years and is grateful for his continued support as a Matachewan shareholder.

Mr. Zachary Goldenberg, an existing Director of the Company, has been appointed as Chief Executive Officer of Matachewan effective July 17, 2026.

The Company’s management and board of directors now consists of Messrs. Zachary Goldenberg (CEO and Director), Carlo Rigillo (CFO, Corporate Secretary and Director) and Ed Dumond (Director).

About Matachewan Consolidated Mines, Limited

Matachewan is a Canadian natural resource company incorporated in 1933 and headquartered in Toronto, Ontario. Matachewan maintains exposure to the natural resource sector through investments in mineral and other resource-related opportunities. Its common shares trade on the TSXV under the symbol MCM.A.

Contact Information

For more information, please contact:

Zachary Goldenberg, CEO and Director 
Matachewan Consolidated Mines, Limited
Phone No.: 647-987-5083
Email: zach@libertyvp.co

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.