Mr. Ronald Perry reports

METANOR REPORTS OPERATIONAL RESULTS FOR THE QUARTER ENDED MARCH 31ST 2017

Metanor Resources Inc. has released its operational results for the quarter ended March 31, 2017 (third quarter 2017).

Third quarter 2017 highlights

• Gold production of 9,442 ounces during the quarter;
• Gold sales of 10,881 ounces during the quarter;
• Gold production of 27,604 ounces year to date;
• Gold sales of 29,204 ounces year to date.

                                   Q3 2017 OPERATING RESULTS 

                           Q3 2017      Q2 2017       Q1 2017      Q4 2016      Q3 2016 

Tonnes milled               61,101       61,790        62,974       61,002       60,727
Feed grade (g/t)               5.0          5.1           4.3          4.5          4.9
Mill recovery rate           96.4%        96.5%         96.0%        96.1%        96.3%
Ounces produced              9,442        9,764         8,399        8,502        9,114
Ounces sold                 10,881       10,431         7,893        9,887        8,730

Outlook for the coming quarters

Metanor revised its objective to produce between 33,000 and 36,000 ounces of gold during this current year. The ore extraction below level 14 in the main vein will continue in the upcoming quarters. Also, the main vein below level 14 is open at depth. The underground drilling program will continue during the coming months to discover additional ounces of gold.

For the Barry property, Metanor will continue the drilling within the area of the Barry open pit to increase its mineral resources. Additionally, Metanor is increasing the drilling in the Barry camp from one to three drill rigs. The objectives are to extend the mineralization in all directions within the pit shell, drill the higher-grade shear extensions near the pit and drill the other promising sectors in the Barry camp.

About the company

Metanor Resources is a Quebec-based emerging gold producer having its main assets, the Bachelor mine and the Barry project, in addition to over 15,000 hectares of exploration property, located in the mining-friendly jurisdiction of Quebec, in the heart of the Urban-Barry camp. With the support of strategic investors, a strong management team experienced at all levels of project development and project financing, Metanor is seeking to develop additional projects in a responsible manner.

Qualified persons

Pascal Hamelin, PEng, president and chief operating officer, is the qualified person under National Instrument 43-101 responsible for reviewing and approving the technical information contained in this news release.

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