Gold Producer Metanor Resources Inc. Issued Upside Market Valuation in Research Report

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Gold Producer Metanor Resources Inc. Issued Upside Market Valuation in Research Report

Surrey, BC / March 24, 2014 / Metanor Resources Inc. (TSX VENTURE:MTO) (Pink Sheets:MEAOF) (Frankfurt:M3R) is identified in a newly issued research report by Market Equities Research Group with several value drivers and potential catalysts that exist in 2014 with potential to result in C$125-$175 million market cap for MTO.V, translating to $0.50 - $0.70 per share - MTO.V currently has 267.3 million shares outstanding and is trading near 22 cents. This comprehensive report places a 12 month price target on shares of MTO.V at C$0.50 - $0.70 based on key valuation drivers. The aforementioned target was calculated at US$1300 gold. However, if a gold price of $1600 per ounce is used, these numbers increase to C$0.75 and $1.00 respectively due to share price sensitivity to underlying commodity prices. Gold production has stabilized at over 4,000 oz/month at Metanor's recently refurbished Bachelor Gold Mine and Mill in Quebec, and the Company is targeting over 6,000 oz Gold/month in the near future.

The full research report may be found at online.

The achievement of commercial Gold production at Metanor has clearly solidified trading in MTO stock and several potential value catalysts exist in 2014.

Key value drivers identified include;

1) Well Run, Efficient Operations: Metanor reached commercial Gold production at Bachelor and recently announced cash operating costs of US $766 (Feb 28 news). Given the significant amount of capitalized development, All-In-Sustaining-Costs (AISC) are expected to be low at ~US$920/oz based on current operating parameters once at full capacity.

2) Exploration Upside: With mining operations well in hand, Metanor is being successful in executing its new priority #1 – increase mineable resources. It has located the displacement of the main zone 100m to the west and successfully intersected the main zone at depth. The obvious inference is that this zone continues from depth and may well link up with the known resources at Hewfran (from level 14 virtually to surface at Hewfran) – & possibly double / triple resources (see diagram p.6). MTO will attempt to prove this up in 2014. Strong additional potential exists from a new program to drill laterally at depth (both Northward & Southward at depth) to locate new vein structures that are expressed at surface. In addition, underground drilling between Bachelor and Hewfran should allow additional resources to be located. Further to the north, historical gold showings merit follow up. Given mining experience in the area (going to depths of several thousand feet) additional depth potential will be tested over time. There is no shortage of exploration potential at Bachelor.

3) Potential Acquisition / 2nd Mining Operation: There is an abundance of mining properties within 100 km of Bachelor, and Bachelor has the only mill in the area. As Bachelor has successfully ramped up to a comfortable operating level, with an easy ability to expand milling operations, an acquisition / strategic partnership is something that makes sense over the short, medium, and long term and should be expected to add significant value. With stable mining and milling operations now in hand, Metanor can now execute on this strategy.

The full research report may be found at online.

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL(s).

Contact information:
Fredrick William, BA Ec.

Managing Director

Market Equities Research Group
[email protected]