Metanor Announces the Signing of a Socio-Economic Participation Agreement With the Grand Council of the Crees and the Cree First Nation of Waswanpi for its Bachelor Project

VAL-D'OR, QUEBEC, CANADA -- (Marketwire) -- 09/26/12 -- Metanor Resources Inc. ("Metanor") (TSX VENTURE: MTO) is pleased to announce that the Company has signed a Socio-Economic Participation Agreement ("SEPA") for its Bachelor Project with the Grand Council of the Crees (Eeyou Istchee) / Cree Regional Authority and the Cree First Nation of Waswanipi.

The SEPA has been developed on the principle of mutual respect between the parties, and the interests of all stakeholders in seeing the establishment of a successful mine at Bachelor. It provides for business and employment opportunities for the Crees during every step of the project including the production phase.

The agreement provides the creation of a Joint Implementation Committee who will evaluate employment and business opportunities to maximise the full potential for Cree businesses and the community.

The SEPA was built upon good faith, and dialogue between the parties and this agreement is the result of close collaboration. This significant milestone, achieved early in the production stage of the project, illustrates our dedication to social and environmental matters.

"Thanks to the collaboration of the Crees of Eeyou Istchee, in particular the W24 Tallyman and his family and the Cree First Nation of Waswanipi, the Bachelor Project will have positive impact to the region. In addition to providing for meaningful benefits to all stakeholders, this agreement confirms the support of involved parties in the pursuit of activities and studies necessary to enhance the value of our project." stated Pascal Hamelin, Vice-President of Operations.

Chief Paul Gull from the Cree First Nation of Waswanipi stated: "Our community and the Council of the Cree First Nation of Waswanipi are eager to collaborate with the mineral exploration and mining industry. We recognize that this industry has a corporate social responsibility to follow in the footsteps of Metanor. The signing of this agreement ensures that there will be meaningful participation by our local members without sacrificing sustainability. It is an important step for all parties."

About Metanor

Metanor is a Canadian based gold mining company with a focus on adding value per share through efficient production, exploration, and development of its 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