Metanor Reports its Financial Results for the Quarter Ended September 30th, 2014

VAL-D'OR, QUEBEC--(Marketwired - Nov. 28, 2014) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to report on its financial results for the quarter ended September 30^th 2014 (Q1). This press release should be read in conjunction with Metanor's quarterly financial statements and accompanying notes for the period ended September 30^th 2014 and related Management's Discussion and Analysis (MD&A), which can be found at www.metanor.ca or on SEDAR www.sedar.com. All amounts are in Canadian dollars unless otherwise stated.

Q1 Highlights

• Gold sales of 12,043 ounces;
• Gold production of 11,598 ounces;
• Total of $15,878,051 in revenues from gold sales at the average sale price of $1,318 per ounce;
• Cash Cost of $951 per ounce sold;
• Sustaining cost of $1,133 per ounce sold;
• All-In cost of $1,188 per ounce sold;
• Net change in cash of $664,017;
• Positive Cash flow from operating activities of $4,352,231;
• Net Loss of $957,604 after depreciation and depletion of $3,637,362;

	September 30th 2014		September 30th 2013
Operational Results
Tonnes milled	56,949		55,591
Feed grade (g/t)	6.53		6.0
Mill recovery rate	97.0	%	97.1	%
Ounces produced	11,598		10,373
Ounces sold	12,043		10,269
Underground development (metres)	1,638		1,277
Diamond drilling (metres)	11,564		7,237

Financial Results