METANOR RECEIVES US$6M FROM SANDSTORM
Sandstorm Gold Ltd. has remitted the $6-million (U.S.) final payment to Metanor Resources Inc. in accordance with the gold purchase agreement announced on Jan. 17, 2011. Under the terms of the agreement, Sandstorm is entitled to purchase 20 per cent of the life-of-mine gold produced from the Bachelor Lake project at a per ounce price equal to the lesser of $500 (U.S.) and the then prevailing market price of gold.

Development at Bachelor Lake has been advancing as planned, the most recent milestone being the completion of the shaft sinking to 536 feet which included the development of the two shaft stations. Over 90 per cent of the equipment required to complete the 5,000-ton bulk sample is on site and infrastructure is being upgraded for the execution of the bulk sample. Lateral development and underground infrastructure construction is set to begin shortly.

A 15,000-metre definition diamond drilling campaign is well under way at Bachelor Lake and assays are in the laboratory with results pending. Bachelor Lake is open in all directions and at depth with a deep hole intercept at approximately 3,500 feet.

Further, Metanor announces that MI3 Financial Communications Inc. of Montreal, Que., has been engaged to provide market-making activities for a period of four months effective Aug. 30, 2011. Market-making activities will be provided in conformity with TSX Venture Exchange Policy 3.4 and applicable securities laws in Canada. These activities shall exclude market manipulation, market control and improper market-making activities, including those specified in Section 2.7 of Policy 3.4.

Subject to the requirements and normal procedures of trading on the TSX Venture Exchange, MI3 will not buy all Metanor securities offered at the posted price, but rather, will buy a portion of the securities at the posted price and allow the price to drop before making further purchases. MI3 will not post a continuous bid and ask for a particular security, regardless of whether or not a buy or sell order is in place, if this could hold the security at a fixed price over an extended period of time rather that allow the market to find its own level. The compensation for the services rendered by MI3 shall be $6,250 per month (plus applicable taxes) in cash.