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Metanor Resources Inc
Symbol MTO
Shares Issued 296,557,733
Close 2014-10-07 C$ 0.085
Market Cap C$ 25,207,407
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Metanor Resources drills 5.6 m of 25.8 g/t Au at Barry

2014-10-08 10:32 ET - News Release

Mr. Ronald Perry reports

METANOR INTERSECTED 25.80 G/T AU OVER 5.6 M AT BARRY

Metanor Resources Inc. has released the results of the drilling campaign carried out in 2013 to 2014 on the Barry property, which discovered several new gold zones. An exploration campaign of 38 diamond drill holes totalling 12,197 metres has been conducted on the Barry property for the purpose of investigating some of the 153 new induced polarization anomalies detected on the entire property during surveys conducted between 2009 and 2013. All of these holes have been drilled at a distance of more than one kilometre and up to seven km from the Barry deposit. This drilling campaign has enabled the company to investigate laterally and at depth, two known gold areas (Goldhawk and Moss) in order to confirm their gold potential. It has also enabled the company to discover five new sectors with gold mineralized zones over large widths which require additional exploration work that could lead to the defining of new resources. The best gold intersections obtained during this drilling campaign are shown in the table.

                      BARRY DRILL RESULTS

DDH                 From         To      Width         Au  
                      (m)        (m)        (m)      (g/t)

BE-13-03             5.0       21.6      16.60       0.15
and                118.0      122.0        4.0       0.21
BE-13-04           447.0      447.4        0.4       3.16
BE-13-06           109.5      114.1        4.6       0.21
and                157.1      163.4        6.3       0.21
and                414.0      422.1        8.1       0.20
M-13-10            198.9      199.4        0.5       1.45
M-13-13            336.5      339.6        3.0       1.34
including          337.6      338.6        1.0       3.28
MB-13-01           188.0      193.6        5.6      25.80
Cut at 60 g/t      188.0      193.6        5.6       6.84
MB-13-14           528.0      530.6        2.6       2.86
MB-13-16           177.3      177.7        0.4       2.94
MB-13-19           355.4      357.2        1.8       5.97
including          355.4      356.3        0.9       1.75
MB-13-04             5.5       15.4        9.9       0.12
MB-13-10           255.5      258.5        3.0       2.38
M-13-02            189.3      192.4        3.1       1.03
M-13-02            197.6      198.5        0.9       3.77
M-13-03            150.9      151.9        1.0       1.46
and                178.3      186.9        8.6       0.39
M-13-04            276.4      278.9        2.5       2.65
M-13-05            215.3      219.8        4.5       0.79
MB-14-21            12.0       21.4        9.4       0.12
and                 58.8       59.3        0.5       2.82
and                174.4      300.7      126.3       0.20
including          192.4      206.6       14.2       0.93
including          197.3      204.5        7.2       1.69
including          202.6      204.5        1.9       5.73
including          226.3      242.9       16.6       0.38
MB-14-22            30.5       34.9        4.4       0.37
and                 43.4       62.8       19.4       2.14
including           55.0       62.8        7.8       5.18
and                109.6      114.0        4.4       0.16
and                153.5      161.5        8.0       0.20
and                174.6      179.3        4.7       0.21

The lengths mentioned correspond to the lengths obtained in diamond drill core.

NW extension block

A series of subparallel induced polarization anomalies with often a strong intensity and oriented to the northeast have been detected in a large deformation corridor of approximately 1.5 kilometres in width. These IP anomalies extend over large distance and coincide with deformation zones containing disseminated to massive sulphide in volcanic units and associated intrusive sills. Five diamond drill holes totalling 1,967 metres have intersected many fractured zones containing variable amounts of pyrrhotite and chalcopyrite. A mineralized fault zone had returned anomalous gold values over 16.6 m, including an intersection of 0.5 gram per tonne gold over three m (BE-13-03). This mineralized zone has returned several anomalous gold values, including an intersection of 3.16 g/t Au over 0.4 m (BE-13-04) approximately 750 m toward the southwest and an anomalous gold intersection of 0.20 g/t over 8.10 m (BE-13-06) approximately one km more to the southwest. These results are encouraging and guarantee the continuation of exploration work in this area with strong potential for gold and base metals.

Goldhawk-Oracle block

The Bart zone has been investigated to the west and to a vertical depth of 160 m with diamond drill hole MB-13-01 which has intersected a heavily mineralized pyrite zone with a gold-bearing intersection of 25.80 g/t Au over 5.6 m. The future exploration work should allow extending even farther toward the west and at depth this mineralized gold zone located approximately 3.5 km to the west of the Barry mine. A series of strong IP anomalies have been investigated to the east end of the property and coincides with several subparall mineralized zones containing pyrite-pyrrhotite and having returned anomalous gold values over width reaching 10.7 m. A strong IP anomaly oriented east-west located at the south end of the property has been investigated and corresponds to a pyrite-rich zone that returned a gold-bearing intersection of 1.96 g/t in over two m, including 3.39 g/t Au on one m.

Moss block

A series of IP anomalies crossing the whole claim block over a width of 500 m and located immediately to the west of the Eagle Hill Exploration property have been investigated on a lateral distance of two km. In this deformation corridor several mineralized zones associated with felsic units are altered fractured and injected of pyrite-quartz veins which have returned anomalous gold intersections over widths up to 9.5 m at the northeastern end and up to 300 m along the southwest extensions. The best gold intersection has been obtained in diamond drill hole MB-14-22 which intersected to a vertical depth of 30 m a mineralized zone returning 2.14 g/t Au over 19.4 m, including 5.28 g/t Au over 7.8 m. Approximately 500 m farther to the southwest along the deformation corridor, diamond drill hole MB-14-21 has also intersected significant gold mineralization returning anomalous values over a width of 300 m, including gold intersections of 18.20 g/t Au on 0.5 m and 3.39 g/t Au on 1.2 m.

Barry SE extension

At the east end of this claims block in contact with the Bonterra property, a section of several diamond drill holes was designed to investigate a series of very strong IP anomalies which extend toward the northeast in a large deformation corridor of nearly one km in width. These anomalies coincide with sericite-carbonate-quartz mineralized zones containing variable amounts of pyrite-pyrrhotite and chalcopyrite. These diamond drill holes have all returned at least one gold intersection with anomalous values over widths up to 9.9 m (MB-13-04) and the best intersection was obtained in the diamond drill hole MB-13-10, which returned 2.38 g/t Au over three m. The type of alteration observed in this fractured and mineralized belt is similar to that found at the Barry mine and this mineralized zone may represent the northeast extension of the mine displaced toward the south by a northwest-striking fault.

Barry United SW block

A series of IP anomalies extend in a northeast direction over a width of approximately 500 m up to the southwest limit of the property situated approximately six km from the Barry deposit. In this area, diamond drill holes have all intersected fractured locally sheared and mineralized pyrite-rich zones. The best gold intersection has been obtained in hole MB-13-14, which returned 14.8 g/t in over 0.5 m, one km to the southwest of the Barry deposit; in hole MB-13-16, which returned an intersection of 2.94 g/t in over 0.5 m, 1.5 kilometres to the southwest of the Barry mine; and in hole MB-13-19, which has returned an intersection of 11.75 g/t Au over 0.9 m, approximately five km southwest of the Barry mine. These gold intersections were obtained along the southwest extension of the Barry deposit and indicate the possibility of finding significant gold mineralization in those areas which certainly require additional exploration work.

This drilling campaign, which was directed toward the search for new gold zones that can generate additional resources close to the surface, has been a great success because five new areas with mineralized gold zones have been located on the property and guarantee further exploration work in these sectors.

The true thickness of the mineralized zones represents approximately 80 per cent to 90 per cent of the core length obtained in diamond drill holes. All of the samples were analyzed with the method of fire assay at the ALS-Global laboratory at Val d'Or (an independent lab), with eventual verification of several samples at the Bachelor mine laboratory at Desmaraisville. The quality assurance/quality control program of the assay results adopted by Metanor includes a minimum of 10 per cent of controlled assays being conducted as well as verification by an independent external assay lab.

Qualified person

Andre Tremblay, vice-president of exploration, is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.

We seek Safe Harbor.

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