Metanor Continues to Pour Gold at Bachelor-97.4% Recovery at the Mill

VAL-D'OR, QUEBEC, CANADA--(Marketwire - Oct. 17, 2012) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to release an update regarding the current development of its Bachelor project.

The company announced on July 6, 2012 that it received its certificate of approval for commercial production and on July 12, 2012, it announced positive results of the bulk sample 25% more gold than expected. These results together with that approval, Metanor, then proceeded to commence development work to begin the ramp up towards commercial production. During the months of July, August and September 2012, the company continued the development in the mineralized 'Main' and 'B' vein structures on levels 12 and 13 and began the development of underground infrastructures such as the escape-way, the ore handling system, the permanent dewatering system, and the bulk explosive storage all necessary for eventual commercial production at the Bachelor project.

From the end of July to September 30, 2012, Metanor has produced 3,191 ounces of gold.

Metanor Resources is very encouraged by the exploration results and mining progress being made. The results of its drilling campaign on the Bachelor Mine project are very promising (see the recent press releases: September 5, June 5, May 16 and February 28, 2012) as well as the development work to date confirm the value of the resource in the ground.

Serge Roy, Chairman of the Board and Chief Executive Officer and Ghislain Morin, President and Chief Operating Officer have both indicated that: "we are very excited about seeing the fruit of several years of effort by our team leading us to cash-flow positive and then to eventual full commercial production. We are also pleased to observe a continued progression of underground work and an excellent recovery at the mill (97.4%)."