March 12, 2008 10:00 ET

Metanor: Acquisition of New Properties Near Barry Deposit

VAL-D'OR, QUEBEC, CANADA--(Marketwire - March 12, 2008) - Metanor Resources Inc. (TSX VENTURRE:MTO) is pleased to announce that it has acquired by staking and purchasing properties with strong gold potential located in the sector of the Barry deposit, in the north of the province of Quebec.

This acquisition of an important block of claims in this sector was made due to the excellent results obtained after the surface samplings carried out in 2007 on the Barry deposit and the encouraging preliminary results obtained on the Bulk Sampling currently in progress on the property. Moreover, a study recently made by Diagnos confirmed the presence of many sectors of interest for gold and copper on the property. Following this acquisition, Metanor now holds 387 claims totaling 6,932.44 hectares (17,130 acres) in this sector where interest is growing for gold.

This newly acquired property includes 112 mining claims and 20 cells totaling 2 920,94 hectares (NTS 32B13 and 32G04) and is centered at longitude 75 degrees 45' E and latitude 49 degrees 05' N. This new property is divided into 2 separate blocks located at the south-east (Block 1) and the west and north-east (Block 2) of the Barry property. The south-eastern block includes 30 claims adjacent to the Barry property and covering the volcanic units located in the south-western prolongation of the horizon hosting the Lake Rouleau deposit owned by Beaufield Ressources which contains resources of 544,000 t at 7.2 g/t Au (Press release of march 17, 2004). A mineralized zone associated with a NE trending sheared zone containing pyrite, chalcopyrite and visible gold is located immediately to the north-east of the block of claims and grab samples performed there have returned values of 7.75 g/t Au and 10.30 g/t Ag.

The west and northeast block has a north-south extent of approximately 6km and includes 82 claims and 20 cells attached to the Barry property in its southern end. This claim block covers several aeromagnetic anomalies associated with the south-western extensions of the volcanic and intrusive horizons containing many gold showings in this sector. Approximately 1.5km to the north-west of the Barry deposit, an east-west mineralized zone was traced by Gold Hawk Resources over a strike length of more than 600 meters and has produced diamond drillings gold intersections reaching 23.8 g/t Au over 4.4m and 6.0 g/t Au over 6.7m (Press release of march 4th, 2004). At the northern end of the new property, this claim block covers the extensions of the volcanic horizons which produced a previous diamond drilling of an intersection of 10.27 g/t Au over 1.5m.

The acquisition of this new property confirms the strategy of Metanor to put all the resources necessary in order to make the Urban-Barry sector the next mining camp in Quebec.

Mr. Andre Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.


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