December 05, 2007 14:15 ET

Metanor Accounces Terms of a Private Placement

VAL-D'OR, QUEBEC, CANADA--(Marketwire - Dec. 5, 2007) - Metanor Resources Inc. ("Metanor" or the "Company") (TSX VENTURE:MTO) is pleased to announce that it has entered into an agreement with Raymond James Limited pursuant to which Raymond James will act as lead agent (the "Agent") for the offering on a best efforts basis of 6,250,000 Flow Through Common Shares at a price of $0.80 per share for a gross amount of $5,000,000 (the "Offering") on a private placement basis. The closing of the Offering will be December 19, 2007, or such earlier or later date as the Agent may determine. The Agent will have the right, exercisable at any time prior to closing of the Offering to increase the size of the Offering by up to a further 1,250,000 Flow Through Shares ($1,000,000).

The net proceeds from the Offering will be used to fund an exploration program on the Barry gold project, to explore and develop the underground extension of the Bachelor gold deposit and to carry out exploration work on the Nelligan property.

The Flow Through Common Shares have not been registered under the United States Securities Act of 1933 (the "Act") and may not be offered or sold absent registration under the Act or an applicable exemption from the registration requirements thereof. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption therefrom.

61,978,974 outstanding shares

The TSX Venture Exchange does not accept any responsibility for the adequacy or accuracy of the press release.

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