Micromem Technologies Inc. Featured in Medical Device Daily

    Article Discusses Future Of Non-Invasive Continuous Glucose Monitors

    TORONTO and NEW YORK, Feb. 5 /CNW/ - Micromem Technologies Inc. (OTCBB:
MMTIF; CNSX: MRM), a Canadian-based company at the forefront of magnetic
random access memory (MRAM) and sensor technology, has been featured in the
January 26, 2009, issue of Medical Device Daily, the newspaper of record for
the high-tech medical technology industry.
    The article, written by Lynn Yoffee and titled "From Mining Exploration
To Glucose Monitoring: Micromem Developing Magnetic, Non-Invasive Glucose
Sensor," details how Micromem Applied Sensor Technologies (MASTInc; New York),
a wholly owned U.S. subsidiary of Micromem, is segueing into the medical
device sector with an extremely sensitive sensor now in development. The
article states that MASTInc is "... transferring what it has learned in mining
exploration to non-invasively 'see' glucose levels under the skin, enabling
diabetics to continuously monitor blood sugar with a device that will look
like a wristwatch."
    "We are very pleased to see coverage of this kind in such a prestigious
industry trade publication as Medical Device Daily," says Steven Van Fleet,
President of MASTInc. "We believe the potential applications of magnetic
sensor technology for future medical devices is nothing short of profound. The
technology shows tremendous promise for any number of breakthrough medical
diagnostic applications, and it is especially rewarding to see Medical Device
Daily help communicate those aspects of our story."
    To access the complete article, please visit

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    Medical Device Daily is the newspaper of record for the high-tech medical
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    About Micromem and MASTInc

    MASTInc is a wholly owned U.S.-based subsidiary of Micromem Technologies
Inc., a publicly traded (OTC: MMTIF; CNSX: MRM) fables semiconductor company
with headquarters in Toronto, Canada and an office in New York City. Micromem
holds and continues to develop a broad-based patent portfolio of
Magnetoresistive Random Access Memory (MRAM) and magnetic sensor technologies.
Micromem's MRAM patents create a solution for performance driven, radiation
hard, non-volatile memory applications. MASTInc is focused on business
development efforts and is working on the launch of sensory products for use
in both defense and consumer applications. Its first product, GC-0301, is far
superior to the competition with over 200 V/T, making it one of the most
sensitive hall sensors on the market without the need for external
amplification. MASTInc is working with companies that have large-scale
capabilities and expects to sign contracts in the coming quarters.

    Safe Harbor Statement

    This press release contains forward-looking statements. Such
forward-looking statements are subject to a number of risks, assumptions and
uncertainties that could cause the Company's actual results to differ
materially from those projected in such forward-looking statements. In
particular, factors that could cause actual results to differ materially from
those in forward looking statements include, our inability to obtain
additional financing on acceptable terms, risk that our products and services
will not gain widespread market acceptance; continued consumer adoption of
digital technology, inability to compete with others who provide comparable
products, the failure of our technology, inability to respond to consumer and
technological demands, inability to replace significant customers; seasonal
nature of our business and other risks detailed in our filings with the
Securities and Exchange Commission. Forward-looking statements speak only as
of the date made and are not guarantees of future performance. We undertake no
obligation to publicly update or revise any forward-looking statements. When
used in this document, the words "believe," "expect," "anticipate,"
"estimate," "project," "plan," "should," "intend," "may," "will," "would,"
"potential," and similar expressions may be used to identify forward-looking

    The CNSX or any other securities regulatory authority has not reviewed
and does not accept responsibility for the adequacy or accuracy of this press
release that has been prepared by management.

    : NASD OTC-Bulletin Board - Symbol: MMTIF
    : CNSX - Symbol: MRM

    Shares issued: 83,555,521
    SEC File No: 0-26005

For further information:

For further information: The Investor Relations Group, Inc., (212)
825-3210, Adam Holdsworth - James Carbonara, or Public Relations, Susan
Morgenbesser - Andrew Conn

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