Steven Van Fleet appointed Head of Project Development at Micromem

Micromem has entered a new phase of development and commercialization andin doing so the Company has determined its personnel requirements on a goforward basis. With Micromem moving from research towards commercialization,the Company has terminated the employment agreement previously signed with Dr.Cynthia Kuper on a without cause basis with the required 4 month notice nowprovided.

    Listing: NASD OTC-Bulletin Board - Symbol: "MMTIF"    Shares issued: 73,254,501    SEC File No: 0-26005

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Micromem Technologies, Inc. () is focused on thedevelopment of magnetic random access memory (MRAM) technology.

Statements in this news release that are not historical facts, includingstatements about plans and expectations regarding products and opportunities,demand and acceptance of new or existing products, capital resources andfuture financial results are forward-looking. Forward-looking statementsinvolve risks and uncertainties, which may cause Micromem's actual results infuture periods to differ materially from those expressed or suggested herein.These uncertainties and risks include, without limitation, the inherentuncertainty of research, product development and commercialization, the impactof competitive products and patents, our ability to fund our current andfuture business strategies and respond to the effect of economic and businessconditions generally as well as other risks and uncertainties detailed fromtime to time in Micromem's filings with the Securities & Exchange Commission.There can be no guarantee that Micromem will be able to enter into anycommercial arrangements on terms that are favorable to it, or at all. For moreinformation, please refer to Micromem's Annual Report on Form 20-F and itsForm 6-Ks as filed with the U.S. Securities and Exchange Commission. Micromemis under no obligation (and expressly disclaims any obligation) to update orrevise any forward-looking statements whether as a result of new information,future events or otherwise.

For further information

Jason Baun, Chief Information Officer,1-877-388-8930