VAL-D'OR, QUEBEC -- (Marketwire) -- 02/27/13 -- Metanor Resources Inc. ('Metanor') (TSX VENTURE:MTO) is pleased to announce that it recently poured a new record 917 oz. gold bar at its 100% owned Bachelor Mill. The ore comes from the very promising Bachelor underground gold mine.
Ghislain Morin, President and CEO stated that "This gold bar is now the largest weekly bar in the history of the company thus far, and represents a significant milestone in the company's progress over the last years. We recognize and thank our underground miners for their efforts and hard work which has enabled the company to accelerate the development and ramp up of the project. The increase in quantity of gold is not only because of the mill capacity increase but also the better grade control (less dilution) with now more work areas (stopes) being mined. We are very pleased with the continued performance of the mill since the beginning of its commissioning, the recoveries of 96-98% are exceptional and our mill team is doing a great job of monitoring the process of slowly increasing the mill's capacity to its full potential."
Metanor is a Canadian based gold mining company with a focus on adding value per share through efficient production, 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.
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.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Ronald Perry, Vice-President