Metanor Confirms High Grade Extension of Barry Pit Intersects 5.4 G/T Au Over 9m

April 27, 2016

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VAL-D’OR, QUÉBEC–(Marketwired – April 27, 2016) – Metanor Resources Inc. (« Metanor ») (TSX VENTURE:MTO) is pleased to announce the preliminary drilling results from the 1,200 m diamond drilling campaign at the Barry property, located 116 km from the Bachelor mill.

The drilling program at Barry aimed to test the extension of high grade mineralization and the new mineralization model proposed by GoldMinds Geoservices Qualified Person (QP), Claude Duplessis P.Eng. The drill program is almost completed.

Previous modeling of the mineralization and estimation of resources was done under the basis that mineralization was striking North-East and dipping South East. Goldminds’ analysis of the high grade mineralization using GENESIS © software has allowed the visualisation of 3 stacked oreshoots plunging East at 19 degrees over 225m strike length (open) inclined to the south at 49 degrees, these high grade zones are about 55-60m wide (25-30m true thickness-see figure attached) These high grade zones are located to the west and connect the west pit and the center pit in the East direction.

This trend was also tested in other sectors and Hole MB-16-14 located to the extreme East of the Main Pit demonstrates continuity of high grade mineralisation in that direction. Hole MB-16-07 located in the west outside the pit area has also shown mineralization of interest and is in line with limited surrounding holes. This will require additional drilling to define a possible new zone to the West.

Preliminary highlights of the program at Barry – Partial results (only holes 06, 07, are completed)

Hole Number from (m) to (m) Length(*) grade Au (g/t)
MB-16-04 1.6 6 4.4 2.1
MB-16-04 17 27 10 2.5
MB-16-06 28 58 30 1.8
including 28 41 13 3.6
MB-16-07 58 78 20 0.8
MB-16-14 52 61 9 5.4

(*) Core length

Included maps:

1) Location map of the drilling program

2) Section with high grade mineralization trend

3) Typical high grade mineralization

GoldMinds estimates that the mineralized intercepts’ true thicknesses are between 90% and 95% of the drill cores. No capping was used. A rigorous, industry-standard, QA/QC program is in place. The samples were assayed by fire-assay at the Metanor assay lab. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. The independent quality control program of the assay results (QA/QC) adopted by GoldMinds includes a minimum of 5% of controlled core & assays being conducted by an independent ALS-certified assay laboratory in Val-d’Or, Québec. Actual QA/QC results demonstrate results can be disclosed and relied upon

Qualified Persons

Pascal Hamelin, P. Eng., Vice-president of Operations, is the Qualified Person under NI 43-101, responsible for reviewing and approving the technical information contained in this news release.

Claude Duplessis, P. Eng., from GoldMinds Geoservices Inc. is the independent Qualified Person under NI 43-101 which has prepared and reviewed the technical information contained in this news release.

Cautionary and Forward-Looking Statements

This press release includes certain statements that may be deemed “forward-looking statements”.
The potential quantity and grade is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. All statements in this discussion, other than those of historical fact, that address future exploration drilling, exploration activities and projected exploration, including costs and other estimates upon which such projections are based, and events or developments that the company expects, are considered forward-looking statements. Although the Company believes the expectations expressed in these 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 forward-looking statements.

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

Category: General