Metanor Resources Emerging as Successful New Gold Producer, Now Producing Over 3000 oz Gold/month

PRLog (Press Release) - Mar. 23, 2013 - VAL D'OR, Canada -- Metanor Resources Inc. (TSX-V: MTO) (OTCQB: MEAOF) (Frankfurt: M3R) is the subject of a review by Robert Gibbens of The Montreal Gazette as Metanor has been steadily increasing Gold production at its newly refurbished 1200TPD capacity Bachelor Mine & Mill, in Quebec. Earlier this month Metanor announced it produced 3,017 oz Gold in February 2013, a ~35% increase in production over ounces poured in January, and January was a 30% increase over December's ounces poured -- all part of an ongoing ramp-up toward its target of ~5,000 oz Gold per month run rate utilizing 2/3 capacity.

The full Gazette review is available at the following URL http://www.montrealgazette.com/business/Bachelor+Lake+gol... online.  The Gazette quotes Ron Perry, Metanor’s V.P. and treasurer; "Bachelor Lake will become a key low-cost player in a lesser-known region of northwestern Quebec with strong growth prospects,” … “We’ve been producing gold since last summer, fully permitted, with a tough and experienced team of 220, a mill with spare capacity, a mine open at depth, other properties to explore fully and a pact with the Crees and other native groups.”

With a current market cap of ~$50 million, Metanor represents exceptional value for investors establishing a long position now. Metanor's infrastructure is valued (estimated replacement value) at ~CDN$200M. The intrinsic value of Metanor’s known resources (~1.6M oz gold in all categories on all its properties) and infrastructure are several times the company’s current market capitalization. With MTO now entering steady-state gold production and cash flow positive status, this should result in improved market awareness and appreciation for the Company; the reality of the infrastructure and resource value, cash flow growth, and clear ability to add ounces should translate to share price appreciation.

MTO is leveraged to the price of gold, able to sell 80% of its Bachelor Mine sourced gold at spot prices with the balance sold to Sandstorm as per gold participation agreement. Fully permitted, fully capitalized, and sufficiently staffed with professional mining personnel able to handle the ramp-up, MTO presents investors with an exceptional opportunity as the first new gold miner in Quebec's Plan Nord. Operational highlights of this new low cost gold producer include;

- Low geopolitical risk.
- Low hydro-electric costs, not affected by oil prices.
- Targeting 5,000 oz per month production at 800TPD, >96% recoveries.
- grades upwards of 26 g/t gold with an average grade of 7.38 g/t gold (fully diluted using long hole).
- Estimated cash cost of ~US$464/oz gold (2011 pre-feasibility by Stantec).
- Identified zones should lead to resource growth and extension of mine life closer to 10+ years; Industrial Alliance analyst calculated (non 43-101) 700,000 oz achievable based on deep hole intercepts and extrapolation of data.

Metanor’s other project of significance is its 100% owned Barry gold project located ~65 km from the Bachelor mill. The Barry property resource estimate now sits at 309,500 oz Gold of Indicated Resources (7,701,000 t at 1.25 g/t Au) and 471,950 oz gold of Inferred Resources (10,411,000 t at 1.41 g/t Au) and is wide open for large resource growth expansion. The current 1km strike at Barry is potentially 13km; there are in excess of 150 anomalies outside the pit area. The Barry deposit is a 10M+ ounce target; the independent international professional geological firm SGS Geostat has identified Metanor’s Barry deposit as comparable in potential to rival other multi-million ounce deposits such as Osisko's Malartic gold deposit & Detour Gold's Detour deposit.

For additional insight on Metanor Resources Inc. the following research links have been identified:

Company website: http://metanor.ca
Mining Journal article: http://miningmarketwatch.net/mto.htm
Q1 2013 analyst research report: http://sectornewswire.com/SCMCanalystMTOJan29-2013.pdf

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL.