Metanor $MTO $MEAOF Prepares New Drilling Campaign for the Moroy Zone and Evaluates Resuming Operations at the Barry Open Pit

Metanor announced that it is studying the possibility of restarting gold mining operations at their open pit on its 100% owned Barry property.

Table 1: Summary of Resources, Barry Open Pit (from 2010 NI 43-101 Report by Duplessis & Camus1)

Class

Tonne

Au g/t
uncapped

Au g/t
capped

Ounces Au
(capped)

Indicated

7,701,000

1.29

1.25

309,500

Inferred

10,411,000

1.65

1.41

471,950

Resources above 0.5 g/t, capping 35 g/t on assay

Ghislain Morin, President and Chief Executive Officer of Metanor stated: “We feel that the metrics are optimal for a restart of operations at the Barry Pit. Our surface infrastructure is still operational, and the mining permit is still active. Combining this with the current low fuel prices and a gold value of $1,700 per ounce in Canadian dollars, we see restarting as an attractive option for the Company at this time.”

Metanor is also planning a drill campaign at their Moroy project, located one kilometre southeast of the Bachelor Mine. The company is creating a number of ice bridges to allow drill-rig access and have scheduled drilling to commence before the end of this month.

See full news release dated February 11, 2016 at www.metanor.ca

Nancy

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