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Sector: Mining - Metals and Minerals  :

Sub Sector: Precious Metals  :

News Release - August 27, 2010 5:36 PM ET 

Metanor Resources Inc. Pours 35,000 Ounces Gold and Sets Release Date for NI 43-101 Resource Estimate at Quebec Open Pit Deposit
   

NEW YORK, NY, August 27, 2010 /Sector Newswire/ - Metanor Resources Inc. (TSX VENTURE: MTO) (US Listing: MEAOF) (Frankfurt: M3R) is the subject of a Precious Metals Digest Review offering insight and opportunity afforded investors as Metanor, a unique exploration junior with well over $35,000,000 of gold poured to date from their 1200 TPD mill, has announced a release date for a new NI 43-101 compliant resource estimate on its Barry gold project.

The full review with chart may be found at http://preciousmetalsreview.com/PMRmtoAugust2010.pdf online.

Excerpts: 

Metanor Resources Inc. (TSX-V: MTO) (US Listing: MEAOF) (Frankfurt: MR3) has recently surpassed 35,000 oz gold poured from their 1200tpd Bachelor Lake mill (from initial 450 tpd, through upgrades, to present ~1200 tpd) with ore from their 100% owned Barry open pit deposit, both located in mining friendly Quebec. The Barry deposit, located ~65km southeast of the Bachelor Lake Mine/Mill, has advanced over the last year from being an interim source of ore (until the high grade Bachelor Lake underground comes online) into what is now being described in some geological circles as a new world class mining camp. With previous drill results as high as 9.24 gpt over 33 meters at the Barry open pit deposit, a 43-101 resource estimate report is due mid September 2010 on approximately 500 holes and is expected to add considerable resources to the current ~1M oz resource that Metanor possess (on four properties). The Barry deposit is wide open for large resource growth expansion and appears to hold the potential to take Metanor to mid-tier producer status.
 
Metanor continues balancing the pouring of gold bars, exploration, and underground rehabilitation of their high grade Bachelor Lake underground mine which is expected to come online within months. The Bachelor underground mine currently has resources of ~300,000 oz Au and is open in all directions at depth with plans to upgrade to 1,000,000 oz.
 
Among the ~50% institutional investor ownership of Metanor Resources, shareholder include two of the largest and most prestigious investment institutions in Canada, Sprott Asset Management and Goodman & Co.
 
Retail investors have an opportunity to gain exposure to a solid cash flowing and growing gold mining company at bargain prices; MTO.V is now trading near the same price as what noteworthy gold investor Eric Sprott of Sprott Asset Management paid.
 
Within the last few months Metanor Resources has been the subject of recommendations from both James West of the Midas Letter and mining expert Jay Taylor, both whom are impressed with the growth prospects in cash flow and resource expansion. Five key factors were central in the recommendation of MTO.V; 1) highly skilled and experienced management, 2) quality gold properties in a stable mining friendly jurisdiction, 3) the fact they have a 100% owned mill that is cash flowing pouring gold, 4) a solid growth plan, and 5) blue sky potential. Metanor has moved the project along to the point where the high grade underground at their Bachelor Lake mine will be coming online within months (increasing cash flow) and a new resource estimate on their Barry deposit is due out soon.
 
Metanor has affirmed the imminent release of the new resource estimate on their Barry deposit is set for the week of September 15, 2010 and on Friday August 27, 2010 we took the opportunity of contacting management at Metanor Resources whom were able to confirm they were still pouring gold and progressing well at Bachelor Lake. Over at the Barry deposit they will recommence drilling to augment the resource once the 43-101 report is released.
 
With everything looking in order at Metanor this now presents an exceptional opportunity for investors looking to establish a long position in a solid cash flowing prospect at bargain prices as Metanor is at an inflection point in its development; the inherent value of this gold Company and its prospects relative to the current market capitalization (only 133,595,497 shares outstanding and trading under 60 cents) appears to present a very healthy entry point here, especially considering MTO.V may soon find itself as an attractive take out candidate.

The full review with chart may be found at http://preciousmetalsreview.com/PMRmtoAugust2010.pdf online.

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 URLs.

SOURCE: Sector Newswire per: Precious Metals Review Digest

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