Micromem subsidiary announces most sensitive hall sensor available on the market

    TORONTO, Aug. 28 /CNW/ - Micromem Technologies Inc. (OTC BB: MMTIF)
through its wholly owned U.S. subsidiary, Micromem Applied Sensor Technologies
Inc. ("MAST Inc."), announced today the availability of its first market
sensor with the release of the attached product specification GC-0301. The
GC-0301 has a Hall Sensitivity Co-efficient of over 200 V/T which makes it the
most sensitive hall sensor on the market without the need for external

    To view the product specification GC-0301 please visit:

    MAST Inc. is targeting unmet sensing and analytical needs in both the
military and commercial market spaces. MAST Inc. expects to announce a series
of partnerships that will include the world's first sensing device that will
solve design issues that currently exist in the industry. In addition, the
company will also be issuing revenue numbers as it relates to each of the
respective partnership announcements.

    Listing: NASD OTC-Bulletin Board - Symbol: "MMTIF"
    Shares issued: 82,323,779
    SEC File No: 0-26005

    About Micromem Technologies Inc.

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

    %SEDAR: 00004447E

For further information:

For further information: Jason Baun, Chief Information Officer,

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