Metanor Resources Inc.
TSX VENTURE : MTO

Metanor Resources Inc.

August 05, 2016 10:00 ET

Metanor Intersects 5.6 g/t Au Over 25.2 m at Bachelor Mine

VAL-D'OR, QUEBEC--(Marketwired - Aug. 5, 2016) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on its underground exploration drilling program at Bachelor Mine. The development of a ramp below level 14 toward level 15 continues and has allowed for the construction of a drill station well positioned to define additional resources below level 14.

The drilling continued in July and the details 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
14-120 38.5 41.4 2.9 2.4 15-0-3
14-120 50.6 52.5 1.8 2.6 15-0-3
14-120 79.0 82.3 3.3 1.9 15-0-3
14-125 84.8 85.4 0.6 12.5 15-0-3
14-126 72.4 97.6 25.2 5.6 15-0-3
including 72.4 80.8 8.4 9.2 15-0-3
including 90.6 97.6 6.9 7.7 15-0-3
14-127 89.9 91.5 1.5 8.3 15-0-3
14-128 52.7 54.0 1.2 5.8 15-0-3
14-128 58.7 59.7 1.0 9.8 15-0-3
14-128 88.6 89.5 0.9 2.9 15-0-3
14-129 90.1 91.3 1.2 4.3 15-0-3
14-130 101.6 107.2 5.7 5.5 15-0-3
14-131 90.5 100.2 9.7 2.4 15-0-3
14-132 73.4 75.6 2.3 7.3 15-0-1
14-132 103.7 109.8 6.1 11.1 15-0-1
14-134 98.8 101.2 2.4 7.3 15-0-3
14-135 139.1 140.4 1.3 4.1 15-0-3
14-136 76.9 79.0 2.1 1.8 15-0-1
* Core length

Many holes intersected more than one zone over the length of the hole. The interpretation is underway to determine the dimension of the additional zones. The mining development continues toward the recently drilled sectors. The development reached the ore zone on the first sub-level below level 14, and is continuing toward the second sub-level.

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.

Metanor also announce that his web site, www.metanor.ca, has been updated. We invite the reader to visit the new site.

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.

A map is available at the following address: http://media3.marketwire.com/docs/1600805_MTO_Map.pdf

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