VAL-D'OR, QUEBEC--(Marketwire - May 28, 2008) - Metanor Resources Inc. (TSX VENTURE:MTO) "Metanor" had previously announced in the press release issued last March 12, the acquisition of 132 mining titles, located in the Barry, Carpiquet and Souart Townships surrounding the Barry property, belonging to Metanor.
The purchase paid for the acquisition of these 132 mining titles included the payment of the amount of $16,000 and the issuance of 150,000 common shares of Metanor, in favour of the Vendor, not related to the Company. A 2 % NSR (Net Smelter Royalty) is also part of the transaction, of which 1 % can be bought back for $1,000,000 and the other 1 % subject to the conditions negotiated by the parties.
This acquisition was motivated by the good results obtained in 2007 from the surface samplings on the Barry deposit and by the encouraging preliminary results obtained during the Bulk Sampling currently in progress on the Barry property. This agreement is subject to regulatory approval.
73,270,393 shares outstanding
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