Metanor Resources Inc.
TSX VENTURE : MTO

Metanor Resources Inc.

July 10, 2014 08:30 ET

Metanor Produces 13,083 Ounces of Gold During the Quarter Ending June 30th 2014 and Expects to Produce 50,000 Ounces in the Coming Year

VAL-D'OR, QUÉBEC--(Marketwired - July 10, 2014) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to announce that it has produced 13,089 ounces of gold during the quarter ending June 30th 2014.

A total of 61,905 tonnes of ore at a feed grade of 6.78 grams / tonne were processed during the quarter with a 96.9% recovery rate.

For the fiscal year ending June 30th, the Bachelor Mine produced 48,847 ounces of gold compared to 23,021 ounces of gold for the previous year. This production performance exceeded the previous guidance of 45,000 ounces published April 9th, 2014.

For the coming year, Metanor expects to produce 50,000 ounces of gold from its Bachelor Mine. In addition, Metanor plans to drill between 60,000 and 65,000 meters of exploration and definition drilling at Bachelor during the same period.

The exploration drilling for the coming year will target the following sectors:

  • The Main Vein to the west between levels 6 and 14,
  • The «A» Vein above level 6, and below level 10,
  • The Hewfran zone at depth,
  • The Main Vein extension below level 14.

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.

296,557,733 outstanding shares

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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