Manufacturing Supply Agreement with Life Medical Technologies

Micromem Technologies Inc., through its wholly owned subsidiary Micromem Applied Sensor Technologies, Inc. (www.mastinc.com), announces a manufacturing supply agreement with Life Medical Technologies Inc. (www.lifemt.com), a company focused on providing innovative medical health care products and education worldwide. Under the terms of this agreement Micromem will incorporate its magnetic sensor technology into a state of the art device jointly developed with LMTI that we believe could enhance the early detection of breast cancer.

“This relationship with Life Medical creates significant sales opportunities for MAST Inc, assisting to establish the company’s position as a leading supplier of sensor technology for the medical device marketplace,” says Steven Van Fleet, president of MASTInc. “MASTInc will complete development of a circuit form factor product via Life Medical’s design input and procedures. We are pleased to participate in the development of a device that enhances total breast health.”

MASTInc’s circuit design will allow for external reading of the magnetic sensors and be able to transmit information directly from the home over the Internet.

Van Fleet concludes, “Micromem sensors, with high sensitivity, competitive pricing and small size will play an important role in bringing the device to market. As a result, more women will have the option to take advantage of this affordable adjunctive screening technology.”

In addition Micromem in pleased to announce the appointment of Carol Fitzgerald, CEO of Life Medical, to the Advisory Committee of MASTInc. Carol Fitzgerald has over 25 years of specialized marketing, operations and executive management experience with companies ranging from start-up organizations to Fortune 500 companies.

About Micromem and MASTInc
MASTInc is a wholly owned U.S.-based subsidiary of Micromem Technologies Inc., a publicly traded company. MASTInc responsibly analyzes the specific industry sectors to create intelligent game-changing applications that address unmet market needs. By leveraging its expertise and experience with sophisticated magnetic sensor applications, MASTInc successfully powers the development and implementation of innovative solutions for healthcare/biomedical, natural resource exploration, government, information technology, manufacturing, and other industries. Visit www.micromeminc.com www.mastinc.com.

About Life Medical Technologies
Life Medical, a developmental stage company, is dedicated to educating and providing life-enhancing, innovative medical products to the public through partnerships with non-profit organizations, corporations, academia, the government, and individuals in an ongoing effort to strive towards a successful outcome in the fight against breast cancer and other life-threatening illnesses. Life Medical is dedicated to providing innovative health care products and education worldwide that empowers individuals to have greater control over their healthcare.