Metanor Partners With Emploi-Quebec for the Training of its Workforce
VAL-D'OR, QUEBEC -- (Marketwire) -- 03/22/12 -- Metanor Resources inc. ("Metanor") (TSX VENTURE: MTO) is pleased to partner with Emploi-Quebec under the auspices of "Plan Nord" for the training and development of its workforce for the Bachelor Lake project, whereby the Company will receive financial support of $550,960 from Emploi-Quebec. This amount will be used to train twenty-one (21) 1st class miners and seventy-six (76) apprentices for the extraction of ore.
Presently, twenty-one (21) of the forty-five (45) miners currently working at Bachelor Lake will gradually be qualified as 1st class miners. This financial support from Emploi-Quebec is valuable because it will allow the training of young workers to ensure succession in a region where labor can be scarce and aging.
"In a context of scarcity of labor, the financial support from Emploi-Quebec is important for the training of workers as our employees will better meet our needs, be better qualified and more competent. We believe in improving the skills of our workforce, as it will foster competitiveness and growth of our Company. As a result, Metanor plans to invest a total of $2,137,604 in this ambitious training project" stated Mr. Pascal Hamelin, Vice-President of Operations of Metanor Resources.
Mr Ghislain Morin, President and COO of Metanor commented "We are pleased with the financial support of Emploi-Quebec for this training program which will ensure the continued success of Metanor in its capability of attracting and retaining its workforce. Presently, on site at Bachelor Lake, there is a workforce of approximately of one hundred and forty (140) workers which will rise to about two hundred ten (210) this Fall. Metanor offers attractive compensation and benefits as well as a great work schedule (ie 7 days on, 7 days off)."
About Metanor
Metanor is a Canadian based gold mining company with a focus on adding value per share through efficient exploration, and development of it properties. Maintaining a low risk profile through a strong operating team, sound financial management, and operating in secure jurisdictions like Quebec are key priorities for Metanor's management team.
Qualified Person
Pascal Hamelin, P.Eng, Vice-President Operations, is the Qualified Person under NI 43-101 responsible for reviewing and approving the technical information contained in this news release.
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.
223,999,362 issued and outstanding shares
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Ronald Perry, Vice-President
514-262-8286
rperry@metanor.ca
