Metanor Resources Inc.
TSX VENTURE : MTO

Metanor Resources Inc.

November 16, 2016 08:30 ET

Metanor Intersects 13.1 g/t Au Over 3.8 m at Bachelor Mine

VAL-D'OR, QUEBEC--(Marketwired - Nov. 16, 2016) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on its underground drilling program at the Bachelor Mine.

Drilling continued during the months of October and November in the Hewfran sector below level 10. A longitudinal drawing shows the hole locations. The drill hole results are presented in the table below:

Hole number from (m) to (m) length (m)* Grade Au (g/t) Zone
E16-074 Tr 12-H-10
E16-081 50.3 51.7 1.4 1.3
E16-096 49.7 52.4 2.7 7.8
E16-097 67.7 70.5 2.8 10.0
8-170 95.4 99.2 3.84 2.6
8-175 109.5 114.7 5.21 5.9
8-177 95.9 97.2 1.25 14.2
8-179 110.9 111.5 0.58 8.5
8-180 114.4 115.5 1.16 5.3
10-094 73.8 76.3 2.5 15.1
10-095 50.0 50.6 0.6 11.6
10-096 76.3 77.3 1.0 9.7
10-097 64.3 68.1 3.8 13.1
10-098 88.7 90.0 1.3 3.4
10-099 76.1 78.9 2.8 12.5
10-100 68.8 70.7 1.9 5.0
10-101 85.2 88.3 3.0 14.1
10-102 61.3 63.7 2.4 1.9
10-103 54.5 57.2 2.7 19.8
10-104 52.4 55.0 2.6 7.3
10-105 46.7 51.2 4.5 8.2
10-106 61.0 63.0 2.1 8.2
10-107 66.2 68.7 2.4 5.5
10-108 51.8 54.1 2.2 11.9
10-109 53.2 53.8 0.6 3.0
10-110 61.7 63.7 2.0 4.7
10-111 59.7 61.5 1.8 6.6
10-112 86.0 87.2 1.2 6.9
10-114 50.5 51.6 1.0 2.7
(*) Core length

The development of a drift on level 12 to access this sector is already underway. In addition, an exploration drift on level 14 is almost completed and will enable the drilling of the extension of this sector below level 12. The diamond drilling below level 12 should begin within the next two weeks.

A map is available at the following address: http://media3.marketwire.com/docs/1076678a.pdf

Metanor estimates that the mineralized intercepts' true thicknesses reach 45% to 85% of the drill cores. A capping of 31 g/t was used or 1 Au ounce. The Company 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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