Metanor Resources Inc.

TSX VENTURE : MTO


Metanor Resources Inc.

August 15, 2014 17:05 ET

Metanor Expands its "B" Vein Above Level 10 by Intersecting 22.75 g/t Over 2.3 Meters at Bachelor

VAL-D'OR, QUÉBEC--(Marketwired - Aug. 15, 2014) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on the ongoing underground drilling program at the Bachelor Mine.

Four drills are currently active underground which has resulted in over 5,500 meters of drilling per month in the last 4 months, of which an average of 1,600 meters per month was exploration drilling. Since the last drilling update released March 31st 2014, Metanor has drilled the «A» vein, Hewfran East, and the «B» vein and the results are summarized in the table below. Results from the forth drill, on level 14, are now being compiled.

The drill results in the «B» vein on level 10 confirm the expansion of the vein above level 10 up to level 8. The drilling in the «A» vein also confirmed the expansion of that vein between level 6 and 10. The drilling in the Hewfran zone allowed the discovery of a parallel vein south of the Hewfran East vein on level 8. Some results identified by a question mark cannot be linked to an existing vein, and are being interpreted by the geologists. All these new zones are being added to the original resource published in 2011. Because of the proximity of the «A» vein to our current infrastructure, the mining of this vein will start in the coming months.

The table below summarizes the significant intersections obtained for these sectors:

Hole No From (m) To (m) Length (m) Grade Au (g/T) Zone
10-022 46.4 47.6 1.1 5.69 B vein
10-026 28.0 29.1 1.0 10.55 B vein
10-033 56.3 58.5 2.3 22.75 B vein
10-034 7.6 7.9 0.3 10.2 ?
10-034 49.6 51.0 1.4 7.9 B vein
10-035 38.2 39.6 1.4 11.0 B vein
10-039 45.7 50.2 4.4 4.19 B vein
10-044 49.0 53.6 4.6 2.99 B vein
10-045 49.5 51.0 1.5 7.96 B vein
10-047 67.9 69.3 1.4 14.8 B vein
10-048 22.3 24.8 2.5 4.44 ?
10-048 31.7 34.5 2.8 7.91 A vein
10-049 31.4 34.8 3.4 11.23 A vein
10-050 17.6 19.5 1.8 4.88 A vein
11-053 119.5 120.4 0.9 3.31 A vein
11-053 130.4 131.1 0.7 2.45 A vein
11-054 129.0 133.0 4.1 32.31 A vein
11-054 146.9 147.3 0.5 8.54 ?
11-056 126.2 129.2 3.0 7.57 A vein
11-057 15.8 16.4 0.6 4.27 ?
6A-35 171.5 172.5 1.0 6.1 A vein
6A-36 164.7 166.5 1.8 10.1 A vein
6A-37 90.2 93.2 3.0 7.2 A vein
6A-40 164.5 170.3 5.8 7.6 A vein
6A-41 155.3 159.0 3.7 9.5 A vein
6A-42 169.4 171.7 2.3 12.0 A vein
6A-44 144.0 145.7 1.7 5.4 A vein
6A-46 174.8 181.1 6.4 12.0 A vein
6A-46 193.9 197.6 3.7 4.8 A vein
6A-47 150.6 150.9 0.3 3.8 A vein
6A-48 171.4 172.6 1.2 27.8 A vein
6A-49 150.1 155.7 5.6 6.5 A vein
6A-50 147.1 149.0 1.9 9.7 A vein
6A-51 148.6 149.4 0.8 10.1 A vein
6A-52 150.7 153.5 2.8 2.0 A vein
6A-53 148.6 150.3 1.7 3.78 A vein
6A-53 152.6 154.7 2.1 19.43 A vein
6A-54 149.3 153.3 4.0 4.5 A vein
6A-55 156.7 159.0 2.3 8.7 A vein
6A-56 192.0 192.4 0.3 24.68 A vein
6A-57 151.3 153.1 1.8 14.42 A vein
6A-57 157.6 159.1 1.5 8.21 A vein
6A-58 147.5 153.1 5.6 7.2 A vein
6A-60 172.9 175.3 2.4 7.4 A vein
6A-62 169.8 171.0 1.2 5.9 A vein
6A-63 167.9 171.7 3.8 9.66 A vein
6A-69 208.2 212.6 4.4 7.03 A vein
6A-69 221.0 222.9 2.0 7.94 A vein
6A-70 209.3 216.2 6.9 4.89 A vein
6A-72 199.8 205.1 5.3 5.98 A vein
6A-75 96.2 97.4 1.3 5.17 ?
6A-75 217.9 221.0 3.2 3.62 A vein
6A-80 192.7 193.8 1.0 3.45 ?
6A-80 215.0 222.6 7.6 5.31 A vein
6A-83 208.7 210.1 1.4 4.61 ?
6A-83 214.3 215.5 1.2 8.63 ?
6A-83 220.4 226.7 6.3 8.84 A vein
6A-79 220.9 227.1 6.2 4.99 A vein
6A-79 157.6 159.1 1.5 8.21 A vein
8-024 76.0 78.1 2.1 6.7 Hewfran East
8-025 8.5 10.0 1.5 22.3 ?
8-025 15.2 17.7 2.5 7.36 Hewfran South
8-026 12.2 13.7 1.5 5.78 Hewfran South
8-032 12.0 15.0 3.0 7.02 Hewfran South
8-029 2.0 7.2 5.2 10.22 Hewfran South
8-030 0.9 5.7 4.8 9.12 Hewfran South
12-174 57.5 58.8 1.2 6.1 Zone E

True core length.

The true width is between 60 and 80% of the core length obtained in diamond drill holes. The cap-off grade used in the analysis is 51.5 g/T or 1.5 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.

About Metanor

Metanor is a Canadian based gold mining company with a focus on adding value per share through efficient production, exploration, and development of it properties.

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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