Metanor Resources Inc.
TSX VENTURE : MTO

Metanor Resources Inc.

March 03, 2016 08:15 ET

Metanor Intersects 9.2 g/t Au over 6.4 Metres at the Moroy Project

VAL-D'OR, QUÉBEC--(Marketwired - March 3, 2016) - Metanor Resources Inc. (« Metanor ») (TSX VENTURE:MTO) is pleased to announce that it has intersected 9,2 g/t over 6,4 metres, pursuant to the drill program commenced last week.

No of hole From (m) To (m) Length (m) Grade Au (g/t) True thickness (estimate)
MO 16-105 12.2 18.6 6.4 9.2 85%

The intersection of the MO 16-105 hole is located to the west of the original discovery, near the surface, and prolongs the known zone to the west. The second drill will start drilling in the next few days.

The drilling started at the beginning of last week on the Moroy Property, one kilometre south of the Bachelor Mine. This drill campaign is expected to cover over 60 000 metres in the area, where a 570 metre long (east-west) and 500 metre deep zone has been identified. The Company expects to use three drills to complete this program. Two drills will make close-space drillings, in order to identify a well defined resource, and the third will drill at greater depths, targeting the geological anomalies identified in 2015. This drilling program aims at identifying a well defined resource, thus eventually allowing for future mining.

Metanor estimates that the mineralized intercepts' true thicknesses reach 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 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 and Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements". 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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