Metanor Announces the Retirement of the Companys' Founders

VAL-D'OR, QUÉBEC--(Marketwired - April 12, 2017) - Metanor Resources Inc. (the "Company") (TSX VENTURE:MTO) announces the retirement of the Company's' founders Mr. Serge Roy, Executive Chairman and Mr. Ghislain Morin, President, CEO and director, effective immediately.

Mr. Greg Gibson, Chairman of the Board, has been appointed to the position of Interim Chief Executive Officer and Mr. Pascal Hamelin, Vice-president of Operations with the Company for the past 4 years, will take on the role of President and Chief Operating Officer. Mr. Hamelin is a member of the Ordre des ingénieurs du Québec and of the Professional Engineers of Ontario. He cumulates over twenty-five years of experience in mining engineering, operations, and project management in both surface and underground mining operations. Prior to joining the Company in 2010, he spent 16 years in the Sudbury mining camp for Inco Ltd. and the last 10 years in the Abitibi mining camp.

Mr. Gibson states: "We appreciate and are grateful to the company founders Serge and Ghislain for their perseverance over the years in building the foundation of a Company that is now ready to move into its next phase. They leave the Company in a strong financial position and with an upcoming new strategic investor/partner Kirkland Lake Gold. We wish them happiness in their retirement and continued success in any future endeavors they decide to pursue. We look forward to advancing Metanor as a high grade, low cost operating company with untapped exploration potential in the heart of one of the most active regions in Canada."

About the Company

Metanor Resources Inc. is a Quebec based emerging gold producer having its main assets, the Bachelor mine and the Barry project, in addition to over 15,000 ha of exploration property, located in the mining-friendly jurisdiction of Quebec, in the heart of the Urban-Barry Camp. With the support of strategic investors, a strong management team experienced at all levels of project development and project financing, Metanor is seeking to develop additional projects in a responsible manner.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary and Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than those of historical fact, that address future exploration drilling, exploration activities and projected financings, including the investment by Kirkland Lake Gold Ltd. which remains subject to regulatory approval and other customary closing conditions, are based on events or developments that the company believes, based on reasonable assumptions, but such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements.