Metanor Resources Inc.

Metanor Resources Inc.

January 12, 2017 09:17 ET

Metanor Intersects 8.6 g/t Au Over 13.9 m at Bachelor Mine

VAL-D'OR, QUEBEC--(Marketwired - Jan. 12, 2017) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to provide this update on its ongoing underground drilling program at the Bachelor Mine.

A diamond drill, located in the ramp below level 14, intersected the main vein at depth below the current infrastructures. The longitudinal section presented below shows the area of intercept, and demonstrates the extension of the main vein further down. The drilling in the area will continue deeper as the ramp progresses.

The drill hole results are presented in the table below:

Hole number from (m) to (m) length (m)* Grade Au (g/t) Zone
14-166 92.7 93.9 1.2 7.9 16-00-03
14-166 107.0 109.5 2.4 8.2
14-167 96.8 99.8 3.0 8.4
14-168 Tr
14-169 93.7 96.8 3.1 10.1
14-170 90.2 104.1 13.9 8.6
14-171 79.6 81.4 1.8 5.2
(*) Core length

Metanor estimates that the mineralized intercepts' true thicknesses reach 55% to 70% 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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