Metanor Resources Inc.
TSX VENTURE : MTO

Metanor Resources Inc.

September 02, 2015 12:43 ET

Metanor Completes the Last Payment on Ressource Quebec Loan, and Announces Management Change

VAL-D'OR, QUEBEC--(Marketwired - Sept. 2, 2015) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to announce that on August 31st, it completed the last payment on a loan of $7,000,000 from Ressources Québec.

Ghislain Morin declares: « By completing this last payment, we cross another important milestone in improving our balance sheet. We wish to thank the team at Ressources Québec for their financial support during the ramp up of the Bachelor mine in the last three years. »

Secondly, Metanor is proud to announce the appointment of Mr. Norman Parker as the new general manager of the Bachelor Mine starting September 8th 2015. Mr Parker joins the team with over 30 years of experience in the mining industry. His education and experience are all elements that will contribute to the company's success. During the last five years, Mr. Parker was the general manager of the mining contractor Don Bourgeois & Fils.

The appointment of Mr Parker coincides with the retirement of Mr Claude Imbeault, the current general manager of the Bachelor mine. With over 48 years in the mining industry, Claude retires on October 15th with a sense of accomplishment. The senior management wishes to thank Claude for his contribution to the development of the company, and wishes him a happy retirement with his wife Ginette. During the next few weeks, Claude will work with Norman to ensure a smooth transition..

Cautionary Language and Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in forward-looking statements.

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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