Metanor Completes Private Placements Raising Proceeds of Approximately $11.4 Million

Metanor Resources Inc.

VAL-D'OR, QUÉBEC--(Marketwired - Dec. 28, 2017) - Metanor Resources Inc. (the "Company" or "Metanor") (TSX VENTURE:MTO) is pleased to announce the completion of its previously announced brokered private placement (the "Brokered Offering") in the aggregate amount of $11,348,410 under which a total of 12,243,000 units (the "Units") at a price of $0.70 each, and a total 3,268,600 flow-through common shares (the "FT Shares") at a price of $0.85 each, have been issued. In addition, the Company has issued 90,000 FT Shares for proceeds of $76,500, as part of a concurrent non-brokered offering. Each Unit consists of one common share and one-half of one common share purchase warrant, with each full warrant entitling the holder to purchase one common share of the Company at a price of $0.90 each, at any time during the 24-month period following the closing of the Offering (the "Closing"). Each FT Share was issued as a "flow-through share" (within the meaning of the Income Tax Act (Canada)) and the gross proceeds will be used for exploration work on the Corporation's properties located in Quebec.