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Metanor Resources Inc
Symbol MTO
Shares Issued 421,189,849
Close 2016-01-19 C$ 0.03
Market Cap C$ 12,635,695
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Metanor plans drilling at Moroy's A anomaly

2016-01-20 09:18 ET - News Release

Mr. Ronald Perry reports

METANOR PUBLISHES THE RESULTS FROM THE GEOPHYSIC SURVEY ON THE MOROY PROPERTY

Metanor Resources Inc. has provided this update on its exploration drilling program conducted from the surface, on the Moroy property located near one kilometre south of the Bachelor mine. Following a geophysical survey completed in 2014 which identified potential targets on the properties surrounding the Bachelor mine, two exploration programs were undertaken.

Initially, a diamond drill campaign began during the summer of 2015 which identified an important gold structure on the Moroy property (results were published in the last few months). This discovery confirmed the value of geophysical surveys on the company's mineralization type.

Secondly, and in parallel to the drilling campaign, a geophysical survey was conducted at depth in previously drilled holes on the Moroy property by the specialized firm Abitibi Geophysic Inc. The survey was conducted a few days before the discovery on the Moroy property, and after months of analysis, Metanor received the report. This induced polarization survey detected the presence of four conducting anomalies.

One of the anomalies of high intensity (A) is located on the extension at depth of the gold structure. A second anomaly of smaller dimension was detected near the surface directly in the gold structure. Positive drilling results near this C anomaly (see Dec. 17, 2015, press release) confirms the discovery potential on the other three anomalies. The attached table shows the drilling results near the C anomaly. The other two anomalies are farther to the east (B-D).

                                       Length  Au grade capped   True width
Hole No.         From (m)    To (m)    (m)(i)          (g/t)    (estimated)

MO-15-44            210.0     213.8       3.8            4.8            50%
MO-15-46             57.8      60.2       2.4           11.5            90%
MO-15-104            78.4      88.5      10.0            5.4            80%
including            82.0      88.5       6.5            7.5               

(i) Core length 

Because of the high intensity in the A anomaly, the next exploration drilling is planned on that anomaly. The presence of the tailing facility above the structure requires the construction of an ice bridge to allow proper drilling to reach the anomalies at depth. The construction of the ice bridges began and is progressing well. The drilling will begin as soon as the ice thickness is sufficient. According to the current weather forecast, the drilling should start around Feb. 1.

The true width is between 35 and 95 per cent of the core length obtained in diamond drill holes. The cap-off grade used in the analysis is 31 grams per tonne (g/t) or one ounce Au. The company utilizes a rigorous, industry-standard, quality assurance/quality control 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 adopted by Metanor includes a minimum of 10 per cent of controlled assays being conducted as well as verification by an independent ALS-certified assay laboratory in Val d'Or, Que. Results of the spot checks were consistent with those reported.

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.

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