Metanor Resources Inc.
TSX VENTURE : MTO

Metanor Resources Inc.

August 18, 2016 11:35 ET

Metanor Intersects 14.5 g/t Au Over 7.2 M at Bachelor Mine

VAL-D'OR, QUEBEC--(Marketwired - Aug. 18, 2016) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on its underground exploration drilling program at the Bachelor Mine. The drilling continues below level 14 and now level 15 from the new ramp heading toward level 15 (see longitudinal section below).

Longitudinal looking north

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

Hole No. from
(m)
to
(m)
length
(m)*
grade Au
(g/t)
Zone
14-121 92.8 97.0 4.1 9.0 15-0-1
14-122 81.5 91.1 9.6 7.2 15-0-3
14-123 82.8 90.2 7.4 5.7 15-0-3
14-124 80.5 82.8 2.3 1.1 15-0-3
14-133 76.8 78.0 1.2 4.4 15-0-1
14-138 105.2 111.3 6.1 15.7 16-0-1
14-139 106.7 113.9 7.2 14.5 16-0-1
(*) Core length

The drilling continues at depth toward level 16, and to the west below levels 14 and 15. The drill bases follow the development of the main ramp to maintain a good drill angle at depth.

Metanor estimates that the mineralized intercepts' true thicknesses reach 60 to 65% 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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