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Metanor Updates on Underground Exploration Drilling Program at Bachelor Mine in Québec

Metanor Resources Inc. is pleased to provide this update on its underground exploration drilling program at Bachelor Mine.

The development of a ramp below level 14 toward level 15 continues and has allowed for the construction of a drill station well positioned to define additional resources below level 14.

The drilling continued in July and the details of the intersections obtained from the drill holes are described in the table below:

Hole No. from
(m)
to
(m)
length
(m)*
grade Au
(g/t)
Zone
14-120 38.5 41.4 2.9 2.4 15-0-3
14-120 50.6 52.5 1.8 2.6 15-0-3
14-120 79.0 82.3 3.3 1.9 15-0-3
14-125 84.8 85.4 0.6 12.5 15-0-3
14-126 72.4 97.6 25.2 5.6 15-0-3
including 72.4 80.8 8.4 9.2 15-0-3
including 90.6 97.6 6.9 7.7 15-0-3
14-127 89.9 91.5 1.5 8.3 15-0-3
14-128 52.7 54.0 1.2 5.8 15-0-3
14-128 58.7 59.7 1.0 9.8 15-0-3
14-128 88.6 89.5 0.9 2.9 15-0-3
14-129 90.1 91.3 1.2 4.3 15-0-3
14-130 101.6 107.2 5.7 5.5 15-0-3
14-131 90.5 100.2 9.7 2.4 15-0-3
14-132 73.4 75.6 2.3 7.3 15-0-1
14-132 103.7 109.8 6.1 11.1 15-0-1
14-134 98.8 101.2 2.4 7.3 15-0-3
14-135 139.1 140.4 1.3 4.1 15-0-3
14-136 76.9 79.0 2.1 1.8 15-0-1

* Core length

Many holes intersected more than one zone over the length of the hole. The interpretation is underway to determine the dimension of the additional zones. The mining development continues toward the recently drilled sectors. The development reached the ore zone on the first sub-level below level 14, and is continuing toward the second sub-level.

Metanor estimates that the mineralized intercepts' true thicknesses reach 60 to 65% of the drill cores. A capping of 31 g/t was used or 1 Au ounce. The Company uses a rigorous, industry-standard, QA/QC program. 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 quality control program of the assay results (QA/QC) adopted by Metanor includes a minimum of 10% of controlled assays being conducted as well as verification by an independent ALS-certified assay laboratory in Val-d'Or, Québec. Results of the spot checks were consistent with those reported.

Source: http://www.metanor.ca/

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