Metanor Resources Inc. Closes the Private Placement of $2 M



    TSX VENTURE EXCHANGE : MTO
    59,699,624 outstanding shares

    VAL-D'OR, QC, June 21 /CNW Telbec/ - Metanor Resources Inc. (TSX Venture
Exchange: MTO) "Metanor" announces the closing, this morning, of the private
placement announced in yesterday's press release. A total of 2,500,000 units
were subscribed at the price of $0.80 each, for a placement amounting
$2,000,000. Each unit comprises one common share and a half warrant. Each
complete warrant entitles its holder to subscribe one common share of the
Company at a price of $1.00 per share within a period of 60 months from the
closing date.
    The common shares and the warrants as well as the common shares
underlying warrants are subject to a resale restriction for a period of four
months and one day following the closing date.
    The net proceeds from this private placement will be used to complete the
rehabilitation work of Bachelor Mine, to develop and explore the underground
extensions of the Bachelor gold deposit and for general corporate purposes.

    TSX Venture Exchange does not accept any responsibility for the adequacy
    or the accuracy of the press release.




For further information:

For further information: Serge Roy, President and CEO, (819) 825-8678;
Renmark Financial Communications Inc.: Jason Roy: jroy@renmarkfinancial.com;
Philippe DeSerres: pdeserres@renmarkfinancial.com; (514) 939-3989, Fax: (514)
939-3717, www.renmarkfinancial.com

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METANOR RESOURCES INC.

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