September 11, 2008 09:35 ET

Update of the Mining Activities of Metanor

VAL-D'OR, QUEBEC--(Marketwire - Sept. 11, 2008) - Metanor Resources Inc. (TSX VENTURE:MTO) is pleased to announce the continuous pouring of gold at its Bachelor Lake Mill facilities coming from the Barry open pit. The mill is functioning uninterrupted 7 days per week and 24 hours per day and has now reached an average output of 680 tons per day with a recovery of more than 90%, with continual improvements. Since the beginning of the year 2008, the gold processed at the mill was sold at an average price of $895 CDN. In addition since June, Metanor has an available line of credit of $10M CDN.

During the summer of 2008, Metanor completed a diamond drilling campaign of almost 10,000m on the Barry property in order to increase the geological resources of this gold bearing deposit which owns 100%. This drilling campaign was carried out in order to evaluate the potential at shallow depth of the gold zones located in the prolongation towards the west of the actual open pit (East Zone). The majority of these diamond drill holes intersected gold bearing mineralized zones and among the 7,000 samples to be analyzed, the results on approximately 1,500 samples of the drilling cores are still pending and should be provided in the coming weeks. During the summer, Metanor also extended the original stripped zone over a distance of more than 250m towards the west in order to expose the gold bearing zones up to the West zone. Approximately 2,500 samples were taken during the systematic channel sampling of these mineralized zones which are located in the western prolongation of the pit.

The preliminary results of the channeling program and the drilling campaign indicate the presence of sufficiently broad and continuous gold bearing zones to consider new geological resources in this sector. The compilation of the new gold bearing intersections has already begun and the results will be published once all the results of analysis will have been obtained.

Mr. Andre Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.

73,469,693 outstanding shares

The TSX Venture Exchange does not accept any responsibility for the adequacy or the accuracy of the press release.

Contact Information