Metanor Intercepts 14.3g/t Au over 4.6 metres at Barry and moves towards underground bulk sample

VAL-D'OR, QUEBEC--(Marketwired - Jan 19, 2018) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to announce new high-grade intercepts of 14.3g/t Au over 4.6 metres and 10.4 g/t Au over 4.5 metres at the Barry project located in the Urban township, 110 km south of the Bachelor mill. These new exploration drill results continue to expand the size and further confirm the continuity of these structures. The shear zones have now been extended in excess of 1,500 m on strike, to a depth exceeding 440 m remaining open in all directions.

From recent drilling, Metanor has identified multiple tensional veins within the existing shear hosted system. Throughout 2017, the company drilled 49,000 metres into these shear structures. The drill results have demonstrated multiple zones and from this drill campaign, the company is now prepared to initiate an underground bulk sample program in early March to verify the continuity and grade distribution of the multiple shear zones. The bulk sample program will consist of developing a decline from the face of the Main pit wall down to 100 metres below surface. At this elevation, the company will drive drifts into the gold bearing shears zones. The plan is to send 10,000 tonnes of ore to the Bachelor mill later in the year to reconcile mill head grade with the mining grade in a defined sector.

Metanor is also increasing the size of the Barry camp to accommodate a larger exploration program. The work began in November 2017 and is expected to be completed mid Q1 2018. This will give the Barry project the ability to begin the bulk sample program as scheduled on March 1^st 2018.

Highlights of drill intercepts in the quartz-pyrite veins associated with the shear zones include:

• MB-17-37 extension from 498.0 m. to 502.6 m. 14.3 g/t Au over 4.6 m.
  
  
  • Altered sheared basalt with locally stockwork of quartz veinlets (15%) and 4% of fine disseminated pyrite
    
    
• MB-17-129 from 334.6 m. to 335.6 m. 20.3 g/t Au over 1.0 m.
  
  
  • Biotized sheared basalt with stockwork of quartz veinlets (25%) and 10% of disseminated pyrite
    
    
• MB-17-137 from 367.5 m. to 372.0 m. 10.4 g/t Au over 4.5 m.
  
  
  • Altered and sheared breccia basalt with stockwork of quartz veinlets (10%) and 7% of fine disseminated pyrite. 2 segments with many gold grains.
    
    

Greg Gibson, CEO stated "With the ability to access the underground from the existing pit we are able to conduct a bulk sample and establish underground drill platforms significantly reducing drill costs, while allowing more precise and detailed data collection. This will allow us to confirm the geological and grade model at an accelerated pace."

The results of the last 16 drill holes intercepting multiple shears are as follows.

# Hole	from (m)	to (m)	length (m)	Grade Au(g/t)	Note
MB-17-37 Ext	399.7	400.4	0.7	7.5	Shear 900
	498.0	502.6	4.6	14.3	Shear 950
MB-17-59 Ext	544.5	547.5	3.0	3.5	Shear 900
MB-17-125	265.7	269.6	3.9	2.2	Vein 12
	552.0	555.2	3.2	2.7	Vein 13
MB-17-128	32.0	39.0	7.0	2.1	-
	43.0	53.0	10.0	3.0	-
	207.0	209.0	2.0	4.7	Shear 900
MB-17-129	70.8	72.0	1.2	14.6	Shear 800
	131.0	132.0	1.0	3.9	-
	178.0	180.0	2.0	5.4	Vein 3
	282.1	283.3	1.2	9.8	Shear 900
	334.6	335.6	1.0	20.3	-
MB-17-130	74.8	75.3	0.5	4.0	-
	100.7	101.2	0.5	3.7	-
MB-17-131	410.0	413.0	3.0	2.0	Shear 900
	501.1	506.0	4.9	5.9	Shear 950
MB-17-132	191.6	192.1	0.5	3.6	-
	418.0	419.0	1.0	3.9	-
	514.0	518.0	4.0	3.6	Vein 6
MB-17-133	526.6	527.8	1.2	6.4	-
MB-17-134	278.0	279.0	1.0	2.9	Shear 800
MB-17-135	249.0	250.0	1.0	4.1	Shear 800
	386.0	389.0	3.0	5.1	Shear 900
MB-17-136	120.5	122.5	2.0	3.4	-
	162.0	166.2	4.2	3.3	Vein 4
	207.5	208.5	1.0	3.8	-
	225.7	226.7	1.0	11.4	Vein 3
	376.5	378.5	2.0	4.4	-
	382.3	386.1	3.8	3.6	Shear 900
	479.0	480.7	1.7	3.3	Shear 950
MB-17-137	367.5	372.0	4.5	10.4	Shear 950 (VG)
MB-17-138	165.0	167.0	2.0	3.8	Vein 4
MB-17-139	574.6	575.1	0.5	6.8	-
	603.5	606.5	3.0	2.8	Vein 3
	717.0	717.8	0.8	4.7	-
MB-17-140	34.6	35.7	1.1	4.9	-
	39.7	40.7	1.0	3.1	-
	96.0	99.0	3.0	8.1	Vein 8
	106.5	108.5	2.0	4.3	-
	158.6	161.6	3.0	8.1	Vein 9

Holes location:

Hole Number	Azimuth	Dip	Length (m)	UTM East	UTM North	Elevation
MB-17-37 EXT	330	-52	555	443722	5426144	400
MB-17-59 EXT	330	-63	699	443793	5426037	400
MB-17-125	330	-64	566	443986	5426203	394
MB-17-128	330	-45	351	443584	5426283	404
MB-17-129	330	-51	501	443612	5426195	403
MB-17-130	330	-50	558	443616	5426103	403
MB-17-131	330	-60	543	443761	5426134	402
MB-17-132	330	-57	552	443724	5426084	400
MB-17-133	330	-58	1302	443980	5425785	400
MB-17-134	330	-57	362	443667	5426077	400
MB-17-135	330	-52	600	443579	5426065	400
MB-17-136	330	-55	540	443689	5426146	400
MB-17-137	330	-62	429	443720	5426218	400
MB-17-138	330	-53	576	443866	5426159	400
MB-17-139	330	-55	1300	443798	5425693	395
MB-17-140	330	-46	342	443864	5426349	395

Plan view of the Barry project is available at http://media3.marketwire.com/docs/776_Fig1.pdf

Section view 800 of the Barry project is available at http://media3.marketwire.com/docs/776_Fig2.pdf

Quality Control and Reporting Protocols

Metanor estimates that the actual thicknesses of the mineralized intersections are between 70% and 95% 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 (A.A.) 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% of the samples be audited at an independent laboratory. Theses audit assays were sent to ALS laboratory located in Val-d'Or, Quebec. 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 km east from the city of Lebel-sur-Quévillon, and 110 km south of the Bachelor mill. 624,414 tonnes of ore grading 2.2 g/t for 43,970 ounces were extracted from three small pits between 2008 and 2010. A drill campaign is underway at the Barry property to increase mineral resources below the pits in high grade shear zones, and proceed with an underground bulk sample program.

Qualified Persons

Pascal Hamelin, P. Eng., President and COO, is the Qualified Person under NI 43-101, responsible for reviewing and approving 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.