METANOR RESOURCES INC.
TSX VENTURE : MTO

METANOR RESOURCES INC.

August 10, 2005 09:15 ET

Metanor-Authorizations to Acquire Two Properties Adjacent to Bachelor Lake Property, Desmaraisville, Quebec

VAL-D'OR, QUEBEC--(CCNMatthews - Aug. 10, 2005) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to announce that it has received the required authorizations to acquire two (2) properties adjacent to its Bachelor Lake property.

The first property was acquired from MJL Explorations and J. Hansen. In counterpart for the acquisition of this property, Metanor, paid a sum of $10,000 and issued 50,000 Common Shares from its capital stock to the vendor. Metanor will pay the same amount to the vendor every year over a three-year period (2006 to 2008 inclusively). The acquisition amounts to $40,000 and 200,000 Shares. Furthermore, the transaction includes a 2% NSR, which could be repurchased under certain conditions.

It comprises two (2) blocks of claims located respectively to the north and to the west of its Bachelor Lake property. It includes 88 mining claims and covers a 2286.69 hectare surface area. For more information on this property, please consult Metanor's May 11, 2005 press release.

In reference to the second property, Aur Resources and Metanor Resources signed an option agreement, which will allow Metanor to purchase the Hewfran property. Metanor shall invest the total amount of $1,600,000 in exploratory work on the property over a 3-year period ($ 200,000 during the first year, $ 400,000, the second year and $1,000,000, the third year). Metanor will also have to pay a total amount of $ 375,000 in the course of those three (3) years ($75,000 upon signing, $100,000 after 24 months and $ 200,000 after 36 months); Metanor has the choice to either pay in cash or by issuing shares from its capital stock. The transaction also includes a 2% NSR, of which 1% can be repurchased in counterpart for the sum of $ 1,000,000. Metanor, for the first payment, will issue 99,180 Common Shares (which represent the amount of $ 75,000) according to the calculation method agreed upon in the option agreement.

The Hewfran property is adjacent to the Bachelor Lake property (immediately adjoining the Bachelor Mine infrastructures to the west) and covers a 683 hectare surface area. For more information on this property, please consult Metanor's press release issued May 20, 2005.

Following these transactions, 17,267,598 shares of Metanor's capital stock are issued.

The TSX Venture does not accept any responsibility as to the adequacy or accuracy of this press release

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