METANOR RESOURCES INC.
TSX VENTURE : MTO

METANOR RESOURCES INC.

February 24, 2009 11:23 ET

Metanor/Drilling Update: MJL-2 Property-New Potential, Barry Pit-Drill to Investigate 580g/t Over 1m Channel Sample

VAL-D'OR, QUEBEC--(Marketwire - Feb. 24, 2009) - Metanor Resources Inc. (TSX VENTURE:MTO) is pleased to announce that a drilling program was completed on the Hewfran property and the main results indicate that in this sector the West zone is continuous from surface to the elevation 180m below surface where the resources have been evaluated in 2005. The discovery of this new gold bearing zone on surface is very important because it warrants new exploration programs of all the area located close to surface and immediately to the west of the old Bachelor mine (Press release February 12, 2009).

The drill rig was then moved onto the MJL-2 property in order to test a contact between a high and a low magnetic trend located approximately 4 Km to the east of the Bachelor deposit. This magnetic contact is similar to geophysical feature associated with geological unit encountered at the former Bachelor Lake gold mine. Diamond drill hole B09-147 intersected strongly mineralized sheared volcanic units, locally silicified with wide quartz veins and more importantly strongly hematized and silicified mineralized sections with a red brick alteration color similar to the volcanic units hosting the Bachelor deposit. This hole will be completed this week and all mineralized sections will be analysed for gold.

The drill rig will then be moved on the Barry property in order to test areas with high gold potential defined during the last stripping and channelling program. Channel samples taken from sheared volcanic units exposed approximately 70m to the west of the western extremity of the pit returned on section 930E a wide intersection of 4.38 g/t Au over 41.89m including a section grading 9.10 g/t Au over 7.79m to the north and a section grading 6.33 g/t Au over 17.50m to the south. A channel sample taken from the northern branch on section790E or approximately 200m to the west of the actual pit, returned an intersection of 580 g/t Au over 1m. This mineralized zone returned an intersection of 48.90 g/t Au or 5.19 g/t Au (Cut to 34.28 g/t) over 12.27m.

Evaluation of the potential of the mineralized zones 45 occurring approximately 400m to the west of the pit will be included in this program. Short diamond drill holes are planned in this area to test gold potential of that zone close to surface. On section 650E or approximately 350m to the west of the pit, previous hole MB-06-231 returned an intersection of 3.20 g/t Au over 8.8m at the elevation of 7m below surface indicating that this zone can be reached easily from the surface.

This drilling program will also be targeted at testing the extensions of a wide mineralized zone grading 6.12 g/t Au over 37.8 m which coincides with Zone 43 in diamond drill hole MB-08-297 (Press release September 17, 2008). This mineralized zone is located 80m to the south of the open pit, at 25m below surface and results obtained confirm the significant potential for additional resources in this gold bearing zone.

In the Barry pit itself, face samples taken during the advance of mining bench #3 returned high gold content of mineralized veins similar to those intersected in former diamond drill holes. Face sample taken across mineralized zones on bench #3 or approximately 15m below surface returned intersections of 8.75 g/t Au over 21m on section 1001E , 5.78 g/t Au over 29.4m on section 998 E and 5.84 g/t Au over 21m on section 981 E.

Analyses were performed by fire assay at the Bachelor Mine laboratory and Techni-lab S.G.B. Abitibi inc. in Sainte-Germaine Boule, Quebec with verification of some samples at the ALS Assay Laboratory of Val-d'Or, Quebec.

Mr. Andre Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.

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