Metanor Resources Inc.

Metanor Resources Inc.

October 27, 2015 09:11 ET

Metanor Confirms the Discovery of a New Auriferous Corridor Near Surface

VAL-D'OR, QUEBEC--(Marketwired - Oct. 27, 2015) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on its exploration drilling program, from the surface, in the area surrounding the Bachelor Mine. The analysis and assaying of hole MO-15-14 (published on September 22nd ) continued and more auriferous zones were identified below the original discovery.

The results are in the table below:

Hole No From (m) To (m) length (m)* Au grade capped (g/t) Remark
MO-15-14 38.29 45.18 6.89 9.97 Hematized sheared Tuf - 2% Pyrite (Py)
210.98 212.56 1.59 4.26 Hematized sheared Tuf - 2% Py
MO-15-81 6.71 21.59 14.88 7.6 Hematized sheared Tuf - 2% Py
*Core length

A second hole drilled near the first hole confirms the presence of an important zone. The analyses of the hole MO-15-81 is not complete and will continue in the coming days. In addition, drilling activities are continuing in this sector, located 1 km south of the Bachelor Mine; other holes are being assayed and the results will be published as they become available.

The true width of the vein cannot be determined at this point from the core obtained in diamond drill holes. More holes are required to define the direction and dip of the vein. The cap-off grade used in the analysis is 31 g/T or 1 oz Au. The samples were assayed by fire-assay at the Metanor assay lab. The quality control program of the assay results (QA QC) adopted by Metanor includes a minimum of 10% of controlled assays being conducted as well as verification by an independent external assay lab.

Qualified Person

Pascal Hamelin, P.Eng, Vice-president of Operations, is the Qualified Person under NI 43-101, responsible for reviewing and approving the technical information contained in this news release.

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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