Metanor Resources Inc.

Metanor Resources Inc.

October 16, 2017 08:12 ET

Metanor Extends Existing Shear Zone Down to 400 Metres to the East, 27.8 g/t Au Over 3 Metres at Barry

VAL-D'OR, QUEBEC--(Marketwired - Oct. 16, 2017) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide the following drill results from its ongoing surface drilling program at the Barry project. Pursuant to the results released August 28, 2017(press release available at an additional 24 holes have been drilled for a total of 11,163 meters.

The reduced spacing between the latest drill holes has enabled the differentiation of many gold bearing shear zones in the area east of the pits. Each of these new holes have crossed shear zones. The direction of these gold-bearing shears is parallel to the axis of elongation of the pits, and 2 inclinations are identified: the first one being at 45-55 ° which is parallel to the inclination of the felsic intrusion known on the surface and the other shears show an inclination between 75 ° and 85 ° to the south. The gold zones remain open in all directions.

The analytical results of 12 drilling intercepts have been received and are presented in the following table.

# Hole from (m) to (m) length (m) Grade Au (g/t) Note
MB-17-100 147.3 148.8 1.5 2.7
MB-17-101 122.0 124.0 2.0 5.9
137.0 138.0 1.0 4.4
231.0 234.0 3.0 2.0
MB-17-102 199.0 203.0 4.0 8.4
358.0 360.0 2.0 5.5 VG
MB-17-103 178.0 178.7 0.7 35.1 VG
302.5 303.5 1.0 3.9
334.1 336.0 1.9 3.4
MB-17-104 138.8 140.3 1.5 6.2
208.8 209.3 0.5 8.2
MB-17-105 134.2 135.8 1.6 3.9
139.2 141.6 2.4 6.0 VG
413.0 416.0 3.0 5.1
MB-17-106 196.0 197.0 1.0 5.2
233.0 235.0 2.0 7.0
MB-17-107 172.0 175.0 3.0 3.5
MB-17-108 193.0 198.0 5.0 5.9
512.0 515.0 3.0 4.1
MB-17-109 117.0 123.0 6.0 5.3
MB-17-110 166.7 168.2 1.5 6.7
208.2 214.6 6.4 3.1
238.7 239.4 0.7 15.7
243.1 243.6 0.5 30.5
495.0 498.6 3.6 2.6
MB-17-111 305.7 308.7 3.0 27.8 VG

Plan view of the Barry project is available at the following address:

The drill program continues to the West, and at depth under the pits area with two drills. Recently, a third rig began drilling approximately 1.0 km north-east of the mining lease to follow up on a geophysical aerial survey completed during the summer 2017 indicating large anomalies on the east side of the Urban-Barry camp.

Quality Control and Reporting Protocols

Metanor estimates that the actual thicknesses of the mineralized intersections are between 70 and 95% of the core lengths. No capping grade is used at this stage. The Company uses a rigorous AQ-QC analytical program according to industry standards. The analytical results were done by pyroanalysis (A.A.) at the mine laboratory. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. The Goldminds AQ-QC analytical verification program requires that a minimum of 5% of the samples be audited at the independent ALS laboratory located in Val-d'Or, Quebec. The results of the audits are consistent with those obtained.

About The Barry Project

The Barry project is located in the Urban-Barry mining camp, 110 km east from the city of Lebel-sur-Quévillon. 624,414 tonnes of ore grading 2.2 g/t for 43,970 ounces were extracted from 3 small pits between 2008 and 2010. A drill campaign is underway at the Barry property to increase mineral resources below the pits in high grade shear zones, and eventually, proceed with an underground bulk sample, before completing a prefeasibility study.

Qualified Persons

Pascal Hamelin, P. Eng., President and COO, 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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