METANOR RESOURCES INC.
TSX VENTURE : MTO

METANOR RESOURCES INC.

January 24, 2006 09:59 ET

Metanor-Amendment to the Stock Option Plan

VAL-D'OR, QUEBEC--(CCNMatthews - Jan. 24, 2006) - On October 28, 2005, the Board of Directors of Metanor Resources inc. ("Metanor") (TSX VENTURE:MTO) had amended its Stock options plan (the "Plan"). The modification to the Plan consists of increasing the maximum number of Common Shares that may be issued pursuant to the Plan. This modification was submitted to the shareholders for approval, at the Annual and Extraordinary meeting of shareholders of Metanor, held on November 25, 2005.

The proposed amendment consists in increasing the maximum number of Common Shares that can granted to employees, officers, directors and consultants of the Corporation, from 1,900,000 to 3,450,000 that may be issued following the exercise of options.

This section 3.2 a) of the Plan will be read as follow, after the amendment:



1.1 3.2 Number of Shares

a) Options shall be granted under the Plan with respect to no more
than 3,450,000 Shares, provided that, if any Option expires or
otherwise terminates for any reason without having been exercised
in full, the number of Shares in respect of which the Option
expired or terminated shall again be available for purposes of the
Plan.

Approval petition for the amendment were presented to the regulatory
authorities (TSX Venture Exchange and Authority of Financial Markets)
and shall be obtained soon.

Since the adoption of the Stock Option Plan, a total of 1,831,000
options were granted. After the amendment 1,619,000 options are still
available to be granted.


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

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