Mr. Pascal Hamelin reports

STEP OUT DRILLING EXTENDS MAIN ZONE AT DEPTH AND INTERCEPTS 21.2 G/T AU OVER 1.7 METRES AT BARRY PROJECT

Metanor Resources Inc. has released new high-grade results of 21.2 grams per tonne gold over 1.7 metres, 31.5 g/t Au over 1.1 metres and 24.7 g/t Au over 1.5 metres at the Barry project. Metanor has also extended the main shear zone at depth with grades of 6.4 g/t Au over 5.1 metres and 3.9 g/t Au over 12.0 metres.

Metanor continues to advance the exploration of the Barry project by expanding known shear zones at depth and along strike through its surface drilling campaign. The program has a total of three diamond drill rigs, two drilling on the Barry project and one drill rig exploring other targets in the camp.

The gold mineralization at the Barry project is structurally controlled and is hosted in a sheared basalt containing quartz-carbonate-albite veins with pyrite. Metanor has identified three main subvertical shear zones and approximately 10 secondary lower-dipping shear zones. These structures are open in all directions.

Highlights of drill intercepts in high-grade shear zones include:

• MB-17-142 from 184.9 metres to 186.6 m 21.2 g/t Au over 1.7 m: strong shear zone in altered basalt along felsic intrusive contact; numerous quartz veinlets with about 10 per cent pyrite;
• MB-17-143 from 180.1 m to 181.6 m 24.7 g/t Au over 1.5 m: sheared and altered basalt with about 15 per cent pyrite, pyrrhotite and folded quartz veining with visible gold;
• MB-17-52 ext from 163.0 m to 164.1 m 31.5 g/t Au over 1.1 m: altered and sheared basalt containing numerous quartz veinlets and about 5 per cent fine pyrite;
• MB-18-152 from 257.0 m to 262.1 m 6.4 g/t Au over 5.1 m: silicified sheared basalt with VG and about 6 per cent fine pyrite-pyrrhotite.

HIGHLIGHTS OF THE LAST 12 DRILL HOLES INTERCEPTING MULTIPLE SHEARS

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

MB-17-141           198.0      199.0        1.0                16.9
                    209.0      212.0        3.0                 4.5
                    478.0      479.4        1.4                 5.0
MB-17-142           142.0      143.0        1.0                 8.0
                    184.9      186.6        1.7                21.2
MB-17-143           180.1      181.6        1.5                24.7
                    226.5      227.5        1.0                 4.4
MB-17-144           148.0      149.0        1.0                 7.2
MB-17-145           146.0      147.0        1.0                12.7
MB-17-146            56.0       57.0        1.0                 6.5
                     63.5       64.5        1.0                 5.4
                    387.0      389.3        2.3                 3.1
MB-18-148           459.0      471.0       12.0                 3.9
MB-18-149           337.2      338.9        1.7                 6.3
MB-18-150           650.4      650.9        0.5                17.8
MB-18-151           137.7      138.2        0.5                 8.8
MB-18-152           257.0      262.1        5.1                 6.4
MB-17-52 ext.       142.0      142.5        0.5                16.9
                    163.0      164.1        1.1                31.5

Quality control and reporting protocols

Metanor estimates that the actual thicknesses of the mineralized intersections are between 70 per cent and 95 per cent of the core lengths. No capping grade is used at this stage. The company uses a rigorous QA/QC analytical program according to industry standards. The analytical results were done by pyroanalysis (atomic absorption) at the mine laboratory. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. The company QA/QC analytical verification program requires that a minimum of 5 per cent of the samples be audited at an independent laboratory. Theses audit assays were sent to ALS laboratory located in Val d'Or, Que. The results of the audits are consistent with those obtained.

The Barry project

The Barry project is located in the Urban-Barry mining camp, 110 kilometres east from the city of Lebel-sur-Quevillon, and 110 km south of the Bachelor mill. Six hundred twenty-four thousand four hundred fourteen tonnes of ore grading 2.2 g/t for 43,970 ounces were extracted from three small pits between 2008 and 2010. A drilling campaign is under way at the Barry property to increase mineral resources below the pits in multiple high-grade shear zones and proceeding with an underground bulk sample program.

Lastly, the corporation wishes to add to the press release issued Dec. 28, 2017, regarding the completed private placement. In addition to the insider participation described, three insiders of Metanor participated in the non-brokered private placement for aggregate proceeds of $40,800.

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.

We seek Safe Harbor.