September 16, 2009 Metanor Resources announced preliminary results of a short drilling campaign carried out on the Nelligan property which discovered a new gold bearing zone. Diamond drill hole NE-09-02 intersected a new gold bearing structure on the Valley group of the Nelligan property. This new mineralized sheared zone returned starting on surface 28.06 g/t Au (Uncut) over 4.54m or 6.61 g/t Au (Cut to 1 oz/t) over 4.54m including intersections of 234 g/t Au over 0.5m on the hanging wall and 17.9 g/t Au over 0.7m on the footwall of the zone. Other assay results are still pending.
November 26, 2008 Metanor Resources Inc. announced a private placement of 20,000,000 flow-through common shares at a price of Can$0.50 per share, for a gross amount of Can$10 million. The net proceeds from the offering will be used for further exploration of the Bachelor, Hewfran, and Nelligan gold projects.
December 5, 2007 Metanor Resources announced the terms of a Can$5 million private placement consisting of 6.25 million flow-through common shares at 80 cents per share. Raymond James will act as lead agent. The net proceeds from the offering will be used to fund an exploration program on the Barry gold project, to explore and develop the underground extension of the Bachelor gold deposit and to carry out exploration work on the Nelligan property.