Micromem notes foundry milestone as successful magnetic production scaling has been met; Hall Cross Sensor is next

    TORONTO, Nov. 1 /CNW/ - Micromem Technologies Inc. (OTC BB: MMTIF) is
pleased to announce a material progress update on our commercialization of our
MRAM. Micromem and Global Communication Semiconductors, Inc. (GCS) have
successfully patterned and processed our own magnetic yoke design. This is
significant in that this production-level process produced an extremely clean
magnetic storage element (below, less than 1/10th the width of a human hair)
while at the same time starting a march down a path of memory size reductions
and lower cost-per-bit. The scanning electron microscope image illustrates the
superior quality of the GCS foundry and its team of engineers.


    The process of establishing the function and scalability of the multi-bit
MRAM has followed a sequence of first productizing the magnetic storage
element (the "yoke"), followed by Hall Cross Sensor characterization, and
finally integrated MRAM bit cell performance. With this very successful
demonstration of the magnetic structure, Strategic Solutions has characterized
the relative efficacy of two alternative methods: electroplating versus
sputter deposition, as they relate to the ultimate manufacturing of MRAM
product in a dense multi-bit array.
    Similar data and a milestone for Hall Cross Sensors should be seen in
November. A demonstration of a fully integrated MRAM storage cell is expected
by year end.
    Micromem is in discussion with a major military-focused company that
provides GaAs space-based platforms. Discussions are centered around the
proposed MRAM architecture and how it will benefit their current product line
in a dense memory array format. "Now that we have structures coming out of the
foundry that are showing scalability and that confirm the University of
Toronto prototype (image below) and ongoing simulation modeling, it is
invaluable to have the input from users," says Steven Van Fleet, Program
Director for the Foundry phase of the commercialization process. "Our goal is
to incorporate their insight as we move forward not only in deciding upon the
initial memory array size they require but also by what process they will want
the memory manufactured. Our plan is to engage such companies in a cross
licensing procedure. Now that structures are being validated in the foundry we
can pursue these discussions in earnest."


    Jon Scadden of Strategic Solutions stated, "We are encouraged and excited
about the ultimate simplicity of the Micromem MRAM design; it predicts robust
product performance and extremely good reliability and radiation-hardness. It
enables an excellent match up to the knowledge base and skill sets of our
foundry partner, GCS.
    Strategic Solutions is the company that Micromem contracted to design and
implement the MRAM technology. Strategic is a Grass Valley California based
engineering company that specializes in developing new technology, Wafer
services, technology evaluations, special engineering projects and short run
wafer standard business.

    Listing: NASD OTC-Bulletin Board - Symbol: "MMTIF"
    Shares issued: 72,030,195
    SEC File No: 0-26005

    About Global Communication Semiconductors, Inc.
    Global Communication Semiconductors, Inc., based in Torrance, California,
an ISO 9001-2000 certified company, provides compound semiconductor foundry
services to the RF wireless communication, telecommunication and high-speed
networking, optoelectronics and photonics industries. GCS currently offers a
broad portfolio of advanced RF processes (InGaP HBT, PHEMT, IPD and SAW), and
various optoelectronics processes for products such as GaAs and InGaAs PIN PD
and imaging array, APD, VCSEL, Laser, modulator, QWIP and LED. Additional
information can be found at www.gcsincorp.com

    About Micromem Technologies Inc.
    Micromem Technologies, Inc. (www.micromeminc.com) is focused on the
development of magnetic random access memory (MRAM) technology.

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

For further information:

For further information: Jason Baun, Chief Information Officer,

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