During the period of January to March 2010, the sampling and analysis of all the core of the diamond

drilling program carried out on the property was completed. The last assay results were received

towards the end March 2010. This drilling program of 168 holes (MB-09-344 to MB-09-504) totalling

19,848 m have been completed in December 2009 and a total of 15,420 samples were taken and

analyzed for gold by pyroanalyse at the laboratory of Bachelor at Desmaraisville. This drilling

campaign allowed the extension of the Main Zone towards the west and to extend the Centre Zone

over a surface length of more than 500 m, between surface and an approximate vertical depth of 100

m. The Centre Zone is the western extension of zone 43 and is located on the Hanging Wall side of

the deformation corridor of Barry and localized approximately 80 m to the south of the Main zone.

During this period, the best gold intersections obtained on this new mineralized zones are: 3.22 g/t Au

over 6.2 m in hole MB-09-486, 4.09 g/t Au over 10.5 m in hole MB-09-466, 3.66 g/t Au over 7.9 m in

hole MB-09-465, 4.78 g/t Au over 8.0 m in hole MB-09-489, 2.93 g/t Au over 9.1 m in hole MB-09-

482, 8.01 g/t Au over 4.5 m in hole MB-09-458 and 3.88 g/t Au over 9.0 m in MB-09-501.

Metanor Resources Inc. has engaged SGS-Geostat Engineering to produce a NI 43-101 Report on the

promising Barry Open Pit. The report was originally expected to be ready by September 2009.

However, the recent encouraging results from the drilling campaign on the Barry property have shown

that the pit is considerably expanding and the mineralized zones are connecting to each other. The

production of the report has been postponed in order to complete the drilling campaign and use all

the available data in the resource calculation.

During the period, a re-interpretation of the gold bearing structures occurring along the deformation

corridor of Barry have been completed and a calculation of the new resources was initiated and will be

completed by mid June 2010. The digitalization of all the interpreted structures on sections was given

to Tech2mine of Val d’Or and will also be completed during the last week of May 2010. All the

computerized data were provided to SGS-Géostat which began its independent compilation and

calculation according to the geological interpretation provided by Métanor. This resource calculation

will be completed by mid June 2010 and the report 43-101 of the resources of Barry will be given to

Métanor in June 2010.