VAL-D'OR, QUEBEC -- (Marketwired) -- 05/22/15

Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to report on its financial results for the quarter ended March 31st 2015 (Q3). This press release should be read in conjunction with Metanor's quarterly financial statements and accompanying notes and the related Management's Discussion and Analysis (MD&A), which can be found at www.metanor.ca or on SEDAR www.sedar.com. All amounts are in Canadian dollars unless otherwise stated.

Q3 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 $1,418 per ounce sold (US$ 1,149); 
    
--  Cash Cost of $1,047 per ounce sold (US$ 849); 
    
--  Sustaining cost of $1,162 per ounce sold (US$ 943); 
    
--  All-In cost of $1,182 per ounce sold (US$ 959); 
    
--  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 $1,000,000 on the capital of the convertible
    debentures and extension of maturity date on balance of $9,000,000 to
    August 22, 2017; 
    
--  Financing of $3,000,000 by way of private placement. 
    

                                                                            
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                                           March 31, 2015    March 31, 2014 
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Operational Results                                                         
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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 
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Financial Results (thousand dollars)       March 31, 2015    March 31, 2014 
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Gold Sales                                         13,499            18,408 
Operating Costs                                    (9,681)          (12,833)
Royalties                                            (279)             (333)
Depreciation & depletion                           (3,076)           (4,609)
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Gross Profit                                          462               632 
Other Expenses                                       (847)           (1,250)
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Operating Loss                                       (385)             (618)
Financial Expenses & Revenues                         235            (1,302)
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Deferred Income Taxes                                 167                -- 
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Net Results                                            17            (1,919)
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Cautionary Language and Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in forward-looking statements.

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Ronald Perry
Vice-President
514-262-8286
rperry@metanor.ca