Mr. Ronald Perry reports

METANOR REPORTS ITS FINANCIAL RESULTS FOR THE QUARTER ENDED MARCH 31, 2015

Metanor Resources Inc. has released its financial results for the quarter ended March 31, 2015 (third quarter). This news release should be read in conjunction with Metanor's quarterly financial statements and accompanying notes, and the related management's discussion and analysis, which can be found at the company's website or on SEDAR.

Third-quarter highlights:

• Gold sales of 9,518 ounces;
• Gold production of 9,860 ounces;
• Total of $13,498,749 in revenues from gold sales at the average sale price of $1,418 per ounce sold ($1,149 (U.S.));
• Cash cost of $1,047 per ounce sold ($849 (U.S.));
• Sustaining cost of $1,162 per ounce sold ($943 (U.S.));
• All-in cost of $1,182 per ounce sold ($959 (U.S.));
• Net change in cash of $932,332;
• Cash flow from operating activities of $491,661;
• Net income of $16,578 after depreciation and depletion of $3,075,784;
• Partial repayment of $1-million on the capital of the convertible debentures and extension of maturity date on balance of $9-million to Aug. 22, 2017;
• Financing of $3-million by way of private placement.

                                 HIGHLIGHTS

                                           March 31, 2015    March 31, 2014 
Operational results                                                         
Tonnes milled                                      60,365            60,497 
Feed grade (g/t)                                      5.3               6.7 
Mill recovery rate                                  96.1%             96.8%
Ounces produced                                     9,860            12,641 
Ounces sold                                         9,518            13,700 
Underground development (metres)                    1,920             1,751 
Diamond drilling (metres)                           4,398            10,550 
Financial results 
(thousand dollars)      
Gold sales                                         13,499            18,408 
Operating (costs)                                  (9,681)          (12,833)
(Royalties)                                          (279)             (333)
(Depreciation and depletion)                       (3,076)           (4,609)
Gross profit                                          462               632 
Other (expenses)                                     (847)           (1,250)
Operating (loss)                                     (385)             (618)
Financial expenses and revenues                       235            (1,302)
Deferred income taxes                                 167                -- 
Net results                                            17            (1,919)

We seek Safe Harbor.