Metanor Resources Inc.
TSX VENTURE : MTO

Metanor Resources Inc.

June 13, 2016 08:52 ET

Metanor Discovers New Gold Zones on the Moroy Property

VAL-D'OR, QUÉBEC--(Marketwired - June 13, 2016) - Metanor Resources Inc. (« Metanor ») (TSX VENTURE:MTO) is pleased to announce the results of the surface diamond drilling campaign on the Moroy property located 1 km from the Bachelor mill.

To date, approximately 14,600 meters of drilling have been completed on the Moroy property as part of the ongoing 60,000 meter drilling campaign intended to increase the mineral resource in this area.

All of the drill holes contain gold and some have intersected up to three different gold intersections. The drilling campaign continues while interpretations are underway to evaluate the structural controls associated with the gold zones.

The details of the intersections obtained from the drill holes are described in the table below:

Hole N0. from (m) to (m) length (m)* grade Au (g/t) Zone
MO-16-128 238.4 240.8 2.4 4.7 South
MO-16-129 155.2 156.9 1.7 3.6 New Zone
MO-16-131 442.9 448.0 5.1 3.1 South
MO-16-132 170.9 176.7 5.8 2.4 New Zone
MO-16-139 66.5 75.9 9.4 1.6 South
MO-16-145 106.5 107.0 0.5 2.9 South
MO-16-146 322.7 325.2 2.5 3.1 New Zone
MO-16-146 561.6 572.5 10.9 2.5 New Zone
MO-16-147 104.2 108.0 3.8 1.4 South
MO-16-148 188.9 191.1 2.3 3.9 South
Mo-16-149 218.0 220.9 2.9 2.1 South
MO-16-150 186.6 189.7 3.1 3.0 South
MO-16-151 209.2 212.0 2.8 1.5 South
MO-16-152 181.9 183.1 1.2 Low value South
MO-16-153 208.4 211.6 3.2 6.1 South
MO-16-154 203.2 206.0 2.8 Low value South
MO-16-155 203.6 205.0 1.4 2.1 South
MO-16-156 92.5 94.6 2.1 4.9 South
MO-16-156 178.6 185.5 6.9 1.6 New Zone
MO-16-157 210.1 211.4 1.4 4.0 South
MO-16-158 15.8 19.3 3.6 3.9 South
MO-16-159 13.3 27.2 13.8 6.9 South
MO-16-161 312.3 315.1 2.8 6.5 New Zone
MO-16-162 84.0 90.7 6.7 2.3 New zone (O'Brien)
MO-16-163 61.5 62.5 1.0 2.0 South
MO-16-164 249.4 250.9 1.6 9.2 New Zone
MO-16-165 54.9 55.8 1.0 9.8 New Zone
MO-16-165 368.9 374.4 5.5 6.5 New Zone
MO-16-166 249.1 256.4 7.3 2.3 South
MO-16-166 381.1 392.1 11.0 4.2 New Zone
Including 382.6 385.4 2.7 6.6 New Zone
Including 390.2 392.1 1.8 11.2 New Zone
MO-16-167 53.1 54.1 1.0 2.3 South
MO-16-168 128.4 133.1 4.6 Low value South
MO-16-169 146.0 162.7 16.7 1.9 New Zone
Including 149.7 152.4 2.7 3.3 New Zone
Including 154.3 156.2 1.9 3.3 New Zone
Including 161.6 162.7 1.1 8.4 New Zone
MO-16-171 96.1 99.0 2.9 1.7 South
MO-16-172 538.9 540.2 1.3 1.1 South
* Core length

Metanor estimates that the mineralized intercepts' true thicknesses are about 60 to 80% of the drill cores. A capping of 31 g/t was used or 1 Au ounce. Metanor uses a rigorous, industry-standard, QA/QC program. The samples were assayed by fire-assay at the Metanor assay lab. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. 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 ALS-certified assay laboratory in Val-d'Or, Québec. Results of the spot checks were consistent with those reported.

Qualified Persons

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 and Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements". The potential quantity and grade is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. All statements in this discussion, other than those of historical fact, that address future exploration drilling, exploration activities and projected exploration, including costs and other estimates upon which such projections are based, and events or developments that the company expects, are considered forward-looking statements. Although the Company believes the expectations expressed in these 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 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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