Metanor Pours 1st Gold Bar at Bachelor
VAL-D'OR, QUEBEC, CANADA -- (Marketwire) -- 05/29/12 -- Metanor Resources Inc. ("Metanor") (TSX VENTURE: MTO) is pleased to announce that it has delivered its first gold dore bar to the Royal Canadian Mint from its ongoing 5,000 tonnes bulk sample at the Bachelor project.
Metanor is continuing its bulk sample and further gold dore bars are to be produced. When all the produced gold ounces from the bulk sample are poured and recorded, the reconciliation with the areas sampled underground will be calculated and then, Metanor will publish the results of the 5,000 tonnes bulk sample. We anticipate completing the bulk sample by early July.
Serge Roy, Chairman & CEO and Ghislain Morin, President & COO both stated: "We are extremely pleased with this historic event; the first gold pour at the Bachelor Gold Project in 23 years. We are also proud of the professionalism and the dedication of our project team on realizing this milestone".
About Metanor
Metanor is a Canadian based gold mining company with a focus on adding value per share through efficient exploration, and development of it properties. Maintaining a low risk profile through a strong operating team, sound financial management, and operating in secure jurisdictions like Quebec are key priorities for Metanor's management team.
Qualified Person
Pascal Hamelin, P.Eng, Vice-president of Operations, is the Qualified Person under NI 43-101 responsible for reviewing and approving the technical information contained in this news release.
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such 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 in forward-looking statements.
Factors that could cause actual results to differ materially from those in forward-looking statements include, metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.
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Contacts:
Ronald Perry
Vice-President
514-262-8286
rperry@metanor.ca