Mr. Ronald Perry reports

METANOR DISCOVERS NEW GOLD STRUCTURES ON ITS MOROY PROPERTY

Metanor Resources Inc. has provided the results of its exploration drilling program recently completed on the Moroy property, located one kilometre from the Bachelor mill.

The drilling program aimed to test: i) the lateral and vertical extensions of the South zone; ii) the continuity of a second structure intersected at depth by the hole MO-16-181, and located approximately 100 metres to the south; and iii) the east contact of the O'Brien intrusive. This program allowed the discovery of a second structure, the continuity to the west of the 181 structure (or Extreme South) and at least two corridors altered with gold mineralization, were intersected by the drilling program. The only drill hole, MO-16-211, targeting the east contact of the O'Brien intrusive intersected 3.55 grams per tonne gold over 3.66 metres in the lateral extension of historical intersects. The 3-D modelling aiming to confirm the shape of the different zones, to identify the structural controls and to locate the higher-grade enrichment is under way.

The details of the intersections obtained from the drill holes completed in the past weeks are described in the attached table.

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

MO-16-142        183.49      184.31        0.82        2.54
MO-16-142        188.21      188.82        0.61        2.40
MO-16-142        211.29      212.11        0.82        1.10
MO-16-142        227.47      233.84        6.37        4.68
MO-16-157        388.86      390.11        1.25        0.99
MO-16-181        386.27      387.34        1.07        2.07
MO-16-181        462.29      466.65        4.36        6.21
MO-16-181        497.89      498.87        0.98        3.58
MO-16-184        363.17      370.48        7.32        1.43
MO-16-184        481.28      481.89        0.61        2.12
MO-16-185        367.89      370.03        2.13        2.35
MO-16-185        486.00      486.89        0.88        9.80
MO-16-185        498.74      507.80        9.05        2.98
MO-16-186        414.44      416.81        2.38        1.13
MO-16-186        434.89      436.78        1.89        6.57
MO-16-187         18.47       20.30        1.83        1.77
MO-16-187         63.79       65.93        2.13        1.68
MO-16-187        151.42      152.49        1.07        1.14
MO-16-188         16.43       17.22        0.79        6.92
MO-16-189         62.39       63.25        0.85        1.19
MO-16-189         74.89       79.55        4.66        0.67
MO-16-190         60.96       83.58       22.62        2.30
MO-16-191        140.21      147.22        7.01        1.13
MO-16-192         37.04       44.52        7.48        2.11
MO-16-192        123.46      124.80        1.34        1.70
MO-16-193         44.59       47.43        2.83        1.24
MO-16-193         75.01       75.71        0.70        2.64
MO-16-194        130.33      130.94        0.61        0.70
MO-16-195        189.89      190.80        0.91        1.47
MO-16-196         22.62       23.23        0.61        5.06
MO-16-196         31.70       32.61        0.91        8.41
MO-16-196         37.61       40.66        3.05        1.54
MO-16-196         64.37       67.03        2.65        1.51
MO-16-197        116.64      117.92        1.28        3.49
MO-16-197        316.38      318.06        1.68        2.04
MO-16-198        141.24      142.86        1.62        3.20
MO-16-198        211.44      216.87        5.43        1.34
MO-16-200        156.73      157.03        0.30        2.64
MO-16-200        182.82      183.18        0.37        2.20
MO-16-201        174.65      174.96        0.30        2.00
MO-16-204        190.93      194.58        3.66        3.12
MO-16-205        489.05      490.88        1.83        2.99
MO-16-208        225.55      226.98        1.43        2.03
MO-16-208        242.62      243.90        1.28        0.72
MO-16-211         35.05       36.27        1.22        1.33
MO-16-211         59.74       63.40        3.66        3.55

(i) Core length   

Metanor estimates that the mineralized intercepts' true thicknesses reach 40 per cent to 70 per cent of the drill cores. A capping of 31 grams per tonne was used, or one gold ounce. 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 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 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.