Metanor Amends Bachelor Gold Stream
VAL-D'OR, QUEBEC--(Marketwired - Sep 18, 2017) - Metanor Resources Inc. (the "Corporation") (TSX VENTURE:MTO)
is pleased to announce that it has entered into an amending agreement with Sandstorm Gold Ltd., ("Sandstorm")
effectively reducing the existing gold steam on the Bachelor mine (which required Metanor to sell 20% of its gold production at
the fixed price of US$500) and replacing it with a 3.9% net smelter return royalty (NSR) on all minerals produced from the
Bachelor and Barry properties (includes the surrounding exploration properties), of which 2.1% of the royalty can be repurchased
upon payment of US$2M for each property, thereby reducing the NSR to 1.8%.
These new terms will become effective once the Corporation has delivered to Sandstorm, 12,000 ounces of gold at the fixed
price of $US500. As part of the consideration, the Corporation will issue a total of 3,164,156 common shares to Sandstorm, at the
deemed price of $0.77 per common share, for an aggregate value of CA$2,436,400, upon closing of the transaction expected to take
place on or about September 29, 2017, and, grant Sandstorm a right of first refusal for any royalty, metal stream or similar type
of financing on the Bachelor and Barry properties.
Greg Gibson, Chairman and & CEO, stated: "With Metanor's sound financial situation and this added flexibility for growth, we
will be increasing our drill campaigns on the Bachelor property to unlock its full potential; the goal being to increase ounce
production and revenue. In addition, Barry's recent drill success gives us every indication that this once producing asset could
very likely be revisited."
The common shares to be issued will be subject to a four month hold period from the date of issue and this transaction remains
subject to the acceptance of the TSX Venture Exchange.
About Metanor Resources Inc.
Metanor Resources Inc. is a Quebec based emerging gold producer having its main assets, the Bachelor mine and the Barry
project, in addition to over 15,000 ha of exploration property, located in the mining-friendly jurisdiction of Quebec in the
heart of the Urban-Barry Camp. With the support of strategic investors, a strong management team experienced at all levels of
project development and project financing, Metanor is seeking growth through the development of its properties using a
partnership approach with local communities.
FORWARD-LOOKING STATEMENTS
Statements made in this press release, including those regarding the completion and closing of the transactions
contemplated, management objectives, expectations, or predictions of the future may constitute "forward-looking statements",
which can be identified by the use of conditional or future tenses or by the use of such verbs as "believe", "expect", "may",
"will", "should", "anticipate", "project", "plan", and words of similar import, including variations thereof. This press release
contains forward- looking statements that reflect, as of the date of this press release, the Corporation's expectations about
that it will meet all required closing conditions, its operations, the mining industry and the economic environment in which it
operates. Statements in this press release that are not supported by historical fact are forward-looking statements, meaning they
involve risk, uncertainty and other factors that could cause actual results to differ materially from those expressed or implied
by such forward-looking statements. Although the Corporation believes that the assumptions inherent in the forward-looking
statements are reasonable, undue reliance should not be placed on these statements, which apply only at the time of writing of
this press release.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.