Mr. Ghislain Morin reports

METANOR REPORTS ITS FINANCIAL RESULTS FOR THE QUARTER ENDED SEPTEMBER 30TH, 2014

Metanor Resources Inc. has released its financial results for the quarter ended Sept. 30, 2014. This press release should be read in conjunction with Metanor's quarterly financial statements and accompanying notes for the period ended Sept. 30, 2014, and related management's discussion and analysis, which can be found at the Metanor website or on SEDAR. (All amounts are in Canadian dollars unless otherwise stated.)

First quarter highlights:

• Gold sales of 12,043 ounces;
• Gold production of 11,598 ounces;
• Total of $15,878,051 in revenues from gold sales at the average sale price of $1,318 per ounce;
• Cash cost of $951 per ounce sold;
• Sustaining cost of $1,133 per ounce sold;
• All-in cost of $1,188 per ounce sold;
• Net change in cash of $664,017;
• Positive cash flow from operating activities of $4,352,231;
• Net loss of $957,604 after depreciation and depletion of $3,637,362.

                     OPERATIONAL AND FINANCIAL RESULTS
    
                                        Sept. 30, 2014       Sept. 30, 2013 
Operational results                                                         
Tonnes milled                                   56,949               55,591 
Feed grade (g/t)                                  6.53                  6.0 
Mill recovery rate                                97.0%                97.1%
Ounces produced                                 11,598               10,373 
Ounces sold                                     12,043               10,269 
Underground development (metres)                 1,638                1,277 
Diamond drilling (metres)                       11,564                7,237 

Financial results                                                           
(thousand dollars)                      Sept. 30, 2014      Sept. 30, 2014 

Gold sales                                     $15,878                  $0 
Operating costs                                (11,240)                  0 
Royalties                                         (230)                  0 
Depreciation and depletion                      (3,637)                  0 
Gross profit                                       771                   0 
Other expenses                                  (1,748)               (657)
Operating (loss)                                  (977)               (657)
Financial expenses and revenues                     79                (967)
Deferred income taxes                              (59)                  0 
Net results                                       (958)             (1,624)

(i) As of Dec. 1, 2013, the Bachelor mine reached commercial production 
status.

Ghislain Morin, president and chief executive officer, and Serge Roy, executive chairman of the board, declared: "Even in this volatile gold market, Metanor is generating a positive cash flow and is pursuing its drilling program. The focus remains on improving Metanor's balance sheet and increasing resources at the Bachelor mine."

Qualified person

Pascal Hamelin, PEng, 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.

We seek Safe Harbor.