Metanor Resources Inc.: Nomination of a New Director of Operations-Bachelor Mine
VAL-D'OR, QUEBEC -- (Marketwire) -- 11/09/10 -- Metanor Resources Inc. ('Metanor') (TSX VENTURE: MTO) is proud to announce the nomination of Mr Pascal Hamelin, as director of the operations of the Bachelor Mine. Mr Hamelin, has a Mining Engineering Degree from Ecole Polytechnique of Montreal and is a member of both the Ordre des Ingenieurs du Quebec (since September 2009) and the Professional Engineers of Ontario (since July 1993).
Mr Pascal Hamelin has nearly 20 years of progressive and relevant experience in mining operation and project management of both surface and underground mining operations. This experience was acquired (from March 1991 to October 2007) mainly in the Sudbury mining region in the Stoble, McCreedy East, Copper Cliff North and Garson Mines belonging to the Inco Company.
Mr Hamelin was Mine Manager of the Lamaque Mine (Century Mining) from October 2007 to May 2009. Then, he worked as Mine Manager for the Lac Pelletier project (Rouyn-Noranda) and Lac Herbin Mine (Val-d'Or) of Alexis Minerals Corp. from May 2009 to September 2010. During his career, Mr Hamelin has participated in and completed several mining prefeasibility and feasibility studies.
Pascal Hamelin recently accepted the position of director of the operations of the Bachelor Mine. His knowledge and training (mine rescue emergency response, St-John Ambulance CPR Certificate, health care and safety at work) together with his years of mining experience will enable him to help Metanor continue its development and achieve its goals.
Metanor's management wishes to thank Mr J.-Claude Imbeault for his contribution to the development and the growth of the Company and wishes him well in his retirement. Mr Imbeault will remain available on certain files and to share his experience with Mr. Hamelin. The board of directors adopted a resolution prolonging the expiry date of his stock options for another two years following his departure. Further, stock options of 100,000 reserved shares each were granted in favour of Misters Imbeault and Hamelin, at an exercise price of $0.50, the expiry date of Mr Imbeault's options is two years and ten years for Mr Hamelin options. These options will vest at a rate of 25% per quarter.
On April 12, 2010, Metanor granted three options to two officers and one employee for a total of 500,000 reserved shares, at an exercise price of $0.70. On July 12, 2010 Metanor granted an option of 75,000 reserved shares at an exercise price of $0.70 to one of its employees. On September 2, 2010, two options for a total of 35,000 reserved shares were granted to two employees, at an exercise price of $0.56. All the above options expire in ten years and vest 25% per quarter.
143,730,739 outstanding shares.
Neither the TSX Venture Exchange nor its Registration Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Metanor Resources Inc.
Serge Roy
Chairman and CEO
819-825-8678
info@metanor.ca
www.metanor.ca