Gold Producer Metanor with Over 23,000 oz Poured To Date to Increase Capacity

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Valuation Advisory: Metanor Resources Inc. (TSX-V: MTO) (Pink Sheets: MEAOF) (Frankfurt: M3R)is poised for significant upside revaluation as proof of performance has mitigated production risk and MTO.V is on schedule and under budget to bring high grade underground ore online, additionally MTO.V plans to increase capacity up to 1200TPD in the Fall of 2009 -- to date MTO has poured over 23,000oz of gold from its Barry open pit mine and is currently at capacity of 800 TPD with recoveries of ~95%. Fundamentally MTO appears exceptionally undervalued -- has no long term debt, is domiciled in a stable jurisdiction, has a growing resource base, and is currently trading at a mere fraction of its 100% owned ~$140M infrastructure value.

Precious Metals Review of Metanor Resources Inc. (TSX-V: MTO) (Pink Sheets: MEAOF) (Frankfurt: M3R) provides insight into the opportunity afforded investors as it executes upon its gold production business model which includes accessing high grade underground ore and substantial resource expansion.

The full Precious Metals Review / Valuation Analysis Commentary with chart may be seen at http://sectornewswire.com/PMRmtojul09.pdf online.

Excerpts:"Metanor Resources Inc. is an unhedged gold producer at its 100% owned 1,200 (upgradeable capacity) TPD mill in mining friendly Quebec. Production in 2010 should conservatively come in a 50k+oz and move to generating ~70K ounces/yr when Bachelor Lake underground comes online by mid 2010. Ore extract is currently coming from their 100% open pit operation on their Barry gold deposit (located approximately 65 km southeast of the mill). MTO. V has had very good intercepts of late at the Barry deposit and a NI 43-101 resource estimate has been commissioned and is expected to be released in early September 2009. The new higher grade ore that is being discovered from Barry will soon be able to be brought into production. ... For investors the real focus should be on where Metanor will be this time next year as a very profitable gold producer at 1200TPD production with high grade Bachelor Lake ore -- the stock of MTO.V is poised for significant upside revaluation..."

Valuation Analysis/Commentary:
The current market cap of MTO.V is less than ~35% the replacement value (~CDN$140M) of their infrastructure alone, ignoring the 1M+ oz gold resource, with ever expanding & further significant exploration potential, with substantial revenue projections. A recent Northern Securities analyst report places a near term share price target on Metanor of CDN$1.00. MTO.V has ~1,000,000 oz of Gold (NI-43-101 measured and indicated) available from their three properties. The ongoing exploration drill program at their ever expanding Barry deposit is just one of many venues to expand the resource base and is exceeding expectations. Their forward projected EPS will likely be very significant as a debt free unhedged gold producer and the current market cap relative to expected revenues is disproportionate; with less than 104M shares outstanding and trading under CDN$0.60/share, the market cap of MTO.V relative to its resource base/production expansion plans and future revenues make MTO.V among one of the most attractive vehicles for gold investors.

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 and of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL.

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Greg Thompson
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