Mr. Pascal Hamelin reports

METANOR REPORTS ITS RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2017

Metanor Resources Inc. has released its financial and operating results for the quarter ended Sept. 30, 2017. This press release should be read in conjunction with Metanor's financial statements for such quarter and related management's discussion and analysis (MD&A); both of these documents can be found on the company website or on SEDAR.

Highlights from quarter:

Bachelor property:

• Gold production of 7,293 ounces;
• Gold sales of 7,047 ounces;
• Gross revenues of $11.3-million from gold sales for the quarter at an average realized price of $1,610 per ounce sold ($1,285 (U.S.)/ounce using an exchange rate of 80 U.S. cents/$1);
• Net revenues of $10,548,861 from gold sales for the quarter after sales of ounces in the stream agreement;
• Cash cost of $1,243 per ounce sold for the quarter ($992 (U.S.)/ounce using an exchange rate of 80 U.S. cents/$1 -- the cash cost is composed of all costs related to the mineral extraction and processing including royalties associated to the property, and byproduct credits);
• 10,965 metres drilled during the quarter, confirmation of the expansion of the main vein below level 16.

Barry project:

• 19,407 metres drilled; presence of a series of high-grade gold subvertical shears below the three small pits, 900 metres along strike length, and a depth of 550 metres and, presence of a gold-bearing contact zone against intrusive dike;
• Metanor increased drilling, by adding another drill in May, with a focus on the shear-type structures below and laterally from the pits;
• Permitting for the construction of a larger construction camp was under way since April, 2017. The construction permit was received in mid-October. A larger camp will allow more drilling activities and/or operation activities.

Administration:

• Metanor had a net loss and comprehensive loss of $5,204,076 for the quarter.
• Metanor had cash of $12,700,219.
• The streaming agreement with Sandstorm Gold Ltd. was amended.

                        OPERATING AND FINANCIAL RESULTS
  
                                                     Three months ended              
Operation results                        Sept. 30, 2017         Sept. 30, 2016

Tonnes milled (tonnes)                           52,283                 62,974
Feed grade (g/t)                                    4.5                    4.3
Mill recovery rate (%)                             96.7                   96.0
Ounces produced                                   7,293                  8,399
Ounces sold                                       7,047                  7,893
Underground development (metres)                  1,325                  1,117
Diamond drilling (metres)                        37,573                 19,036

Qualified persons

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.