Mr. Ronald Perry reports

METANOR ANNOUNCES INCREASE TO $5.9 MILLION IN BROKERED PRIVATE PLACEMENT

Metanor Resources Inc. has entered into an amended agreement with Sprott Capital Partners to act as lead agent on behalf of a syndicate of agents, including Red Cloud Klondike Strike Inc., pursuant to which the agents will sell by way of private placement, up to 5.25 million flow-through shares at a price of $1.13 each for maximum aggregate gross proceeds of $5,932,500.

The gross proceeds from the offering will be used to finance exploration of the company's properties as qualifying Canadian exploration expenses as defined in Subsection 127(9) of the Income Tax Act (Canada), which will be renounced to the subscribers with an effective date of Dec. 31, 2017.

It is anticipated that the private placement will close on or before June 29, 2017, and is subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange, and other customary conditions.

In connection with the offering, the agents will receive a cash commission equal to 6 per cent of the gross proceeds raised.

All of the securities sold pursuant to the offering will be subject to a four-month hold period which will expire four months and one day from the date of closing.

We seek Safe Harbor.