Metanor Resources Inc.

Metanor Resources Inc.

June 22, 2015 09:10 ET

Metanor Intersects 22.85 g/T Over 4.04 Meters at Bachelor Mine

VAL-D'OR, QUEBEC--(Marketwired - June 22, 2015) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to present an update on the exploration activities at Bachelor Mine. Following the press release published May 14th 2015, the drilling continued in the west sector of the Bachelor Mine between levels 6 and 8. The results are in the table below:

Hole N° From (m) To (m) length (m)* Au grade (g/T) Zone
6-117 76.73 80.05 3.33 8.00 Secteur Ouest (Hewfran)
6-118 69.21 76.45 7.24 8.26 Secteur Ouest (Hewfran)
6-119 107.24 111.97 4.73 14.46 Secteur Ouest (Hewfran)
6-120 112.25 113.62 1.37 NIL Secteur Ouest (Hewfran)
6-121 98.60 102.69 4.09 11.78 Secteur Ouest (Hewfran)
6-122 90.85 93.19 2.34 13.44 Secteur Ouest (Hewfran)
6-123 98.58 99.80 1.22 4.71 Secteur Ouest (Hewfran)
6-124 104.63 105.54 0.91 4.57 Secteur Ouest (Hewfran)
6-125 100.21 101.83 1.62 8.18 Secteur Ouest (Hewfran)
6-126 89.76 94.84 5.08 8.05 Secteur Ouest (Hewfran)
6-127 94.21 96.95 2.74 3.72 Secteur Ouest (Hewfran)
6-128 86.66 90.70 4.04 22.85 Secteur Ouest (Hewfran)
6-129 79.73 81.76 2.03 11.94 Secteur Ouest (Hewfran)
6-129 90.47 93.42 2.95 3.26 Secteur Ouest (Hewfran)

*Core length

Over a period of 45 days, 2,612 meters were drilled resulting into a resource calculation between level 6 and 8 by the mine technical service team using a polygonal method as follows:

Stope Type Tonnes Au g/T uncapped Au g/T capped Au ounces (capped)
8-H-10 Indicated 24,968 10.73 10.39 8,342

Samples capped at 31 g/T,

Drill density: 15m by 15m.

The cost to drill the 2,612 meters of diamond drilling was $169,377 which corresponds to an average cost of $20.30 per ounce identified.

A second drill is now active in the same area of the mine (see attached diagram). The results will be published in the coming weeks once available. A total of 25,000 meters of drilling are planned in the same sector in the coming month.

To view the figure attached with this press release:

The true width is between 65 and 95% 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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