|By Marketwired .||
|May 14, 2014 01:47 PM EDT||
VAL-D'OR, QUEBEC -- (Marketwired) -- 05/14/14 -- Metanor Resources Inc. ("Metanor") (TSX VENTURE: MTO) is pleased to announce that it has produced 4,056 ounces of gold in April. A total of 20,138 tonnes of ore at a feed grade of 6.45 grams / tonne were processed during the month of April with a 97.1% recovery rate.
When commercial production was declared at the Bachelor Mine, in November of 2013, Metanor expected to produce over 40,000 ounces of gold for the year ending June 30th 2014. Due to the production results since November, Metanor has revised its production forecast to over 45,000 ounces for the same period.
Ghislain Morin, President and Chief Executive Officer, and Serge Roy, Executive Chairman of the board stated: "We are very pleased to revise upward our production forecast at the Bachelor Mine. This allows the company to pursue its first priority of increasing the underground drilling to find and define new zones in the mine thereby eventually increasing our resource and mine life."
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.
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.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
296,557,733 outstanding shares
Ronald Perry, Vice-President