TORONTO, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Matachewan Consolidated Mines, Limited (TSXV: MCM-A) (“Matachewan”), an Ontario corporation, triggered certain reporting thresholds in McChip Resources Inc. (the “Issuer”) that require the filing of an early warning report under National Instrument 62- 103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

On August 6, 2026, Matachewan acquired 1,149,300 common shares of the Issuer (the “CommonShares”) in a private transaction at a price of CDN$0.7608 per Common Share for aggregate consideration of $874,440 (the “Acquisition”).

Prior to the Acquisition, Matachewan held 961,400 Common Shares, representing approximately 16.13% of the issued and outstanding Common Shares of the Issuer. Following the Acquisition, Matachewan holds 2,110,700 Common Shares, representing approximately 35.41% of the issued and outstanding Common Shares of the Issuer. In the future, Matachewan may, depending on market and other conditions, increase or decrease Matachewan’s beneficial ownership of securities of the Issuer.

A copy of the early warning report that will be filed by Matachewan may be obtained on Matachewan’s or the Issuer's SEDAR+ profile at www.sedarplus.ca.

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 TSX Venture Exchange 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.

Certain statements in this news release constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information contained in forward-looking statements can be identified by the use of words such as “are expected”, “is forecast”, “is targeted”, “approximately”, “plans”, “anticipates”, “projects”, “continue”, “estimate”, “believe” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves a number of known and unknown risks and uncertainties, which, if incorrect, may cause actual results to differ materially from those anticipated by the Company. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, the Company can give no assurance that those expectations will prove to have been correct. Accordingly, readers should not place undue reliance on forward-looking information.

For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company’s most recent management's discussion and analysis, as well as other public disclosure documents that can be accessed under the issuer profile of “Matachewan Consolidated Mines, Limited” on SEDAR+ at www.sedarplus.com. The forward-looking information set forth herein reflects the Company’s reasonable expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.