Mr. Ronald Perry reports

METANOR CONFIRMS THE EXTENSION OF THE GOLD STRUCTURE AT DEPTH ON THE MOROY PROPERTY

Metanor Resources Inc. has released drilling results for the new zone on the Moroy property located one kilometre from the Bachelor mill.

The drilling from the last few weeks allowed to define the extension of the gold structure from surface down to 650 metres deep; the structure was intercepted by drill holes at depth of 50, 100, 400, 600 and 650 m.

These first 3,800 m of the drill campaign also allowed the confirmation of a subvertical structure ranging between one and five m. Moreover, the drill campaign in 2015 confirmed the presence of a gold structure 570 m long east to west.

                              MOROY DRILL RESULTS

Hole No.                  From             To         Length(i)          Au
                            (m)            (m)            (m)          (g/t)

MO-16-103b               332.0          332.9            0.8            2.1
MO-16-103b               429.4          429.8            0.4            3.4
MO-16-103b               527.1          527.4            0.3           12.6
MO-16-103b               544.3          545.9            1.6            6.9
MO-16-103b               554.0          556.4            2.4            2.5
MO-16-106                 44.6           47.5            2.9            2.6
MO-16-107                 29.6           33.0            3.4            3.7
MO-16-108                 39.4           42.7            3.3            1.2
MO-16-114                 25.5           27.1            1.6            5.3
MO-16-116                103.7          106.8            3.1            2.8
MO-16-117                 35.6           37.8            2.2            6.9
MO-16-119                 85.3           87.6            2.2            0.2
MO-16-121                 71.3           72.9            1.6            0.6
MO-16-122                 32.1           33.6            1.5            2.4
MO-16-124                 17.0           19.0            2.1            3.8
MO-16-130                606.9          608.0            1.1            2.7
MO-16-131                444.5          447.0            2.5            5.5
MO-16-133                 10.7           12.0            1.3            9.1
MO-16-135                  8.3           14.8            6.6            3.8
including                  9.1           10.6            1.5           12.2
MO-16-136                 30.5           31.3            0.8            5.2
MO-16-138                 28.0           28.3            0.3            2.8
MO-16-139                  8.3           14.8            6.6            1.8
including                  9.1           10.6            1.5            9.2
MO-16-139                 73.6           75.1            1.5            2.0
MO-16-140                 84.0           87.4            3.4            6.7
MO-16-141                117.6          118.1            0.6            2.2
MO-16-141                160.2          160.8            0.6            2.7
MO-16-144                 57.8           58.4            0.6            3.7
MO-16-144                 79.6           80.5            0.9            5.2
MO-16-144                160.9          161.5            0.6            2.2

(i) Core length.

Meanwhile, the 2016 drilling campaign expected to total 60,000 metres is progressing. A first drill is focusing on the zones near surface, from zero to 150 m deep, at a drill spacing of 25 m between each hole so mineral resources may be defined at the end of the campaign. A second drill rig will target the same structure at depths ranging between 150 and 300 m, and a third drill rig, expected to begin in May, will aim to define the lateral extensions to the east and to the west.

Metanor estimates that the mineralized intercepts true thicknesses reach 70 to 95 per cent of the drill cores. A capping of 31 grams per tonne was used or one ounce per ton. The company uses 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 National Instrument 43-101 responsible for reviewing and approving the technical information contained in this news release.

We seek Safe Harbor.