Melkior to Commence Down-Hole Geophysical Survey Based on Recent Gold and Copper Intercepts at Carscallen

2019-12-11

TSXV - TSX Venture Exchange · Gold · Copper · Silver · Zinc · Molybdenum · Tellurium · Lead · Cobalt · Canada

(via TheNewswire)

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Timmins, Ontario - TheNewswire - December 11, 2019 -Melkior Resources Inc. ("Melkior") (TSXV:MKR) is pleased to announce that it has engaged the services of Exsics Exploration Inc. (a geophysical consulting firm) to perform a downhole electromagnetic survey on two drill hole collars located in Carscallen Township approximately 25 km west of Timmins, Ontario. The two drill holes to be surveyed intersected significant gold and copper in CAR-19-03A , specifically 23.5 g/t gold over 8.0 metersfrom 426.0 to 434.0 meters (November 28, 2019 press release), .036% copper over 81 metersfrom 432.0 to 513.0 meters and .067% Zinc over 36.0 metersfrom 513.0 to 549.0 meters (Dec 4, 2019 press release). In addition, CAR-79-2012, collared 125 meters east of CAR-19-03A, intersected 3.55% copper over 1.35 metersfrom 528.0 to 529.35 meters (March 26, 2012 press release).

The downhole geophysical methodology employed is referred to as Mise-a-la-masse. The name, which may be translated as "excitation of the mass," describes an electrode array, which uses the conductive mass under investigation as one of the current electrodes. The technique is applied to conductive masses that have large resistivity contrasts with their enclosing host rock, in essence, lighting up the conductive rock below. In exploration, application of this method is used principally in mapping potential volcanogenic massive sulfide deposits.

In March of 2012, Abitibi Geophysics employed a downhole InfiniTem electromagnetic survey on DDH CAR-79-2012 and detected a moderate conductive signature typical of disseminated to massive sulphides approximately 25 meters from the drill hole at 500 meters in depth. Neither a lateral or vertical direction for this conductor was established, however, a downhole 3-D IP survey was further recommended at the time. The Mise-a-la-masse downhole geophysical survey was recommended as a cost-effective method to be employed utilizing the encouraging copper results both from DDH CAR-79-2012 and CAR-19-03A to help vector in on a potential VMS source or feeder system. Follow up drilling of the significant gold intercept in CAR-19-03A (November 28, 2019), is currently being planned in addition to information from the downhole survey. The survey is scheduled within the next two weeks.

Jim Deluce, CEO of Melkior remarks, "We look forward to reviewing the results of the Mise-a-la-masse survey. We believe this is the right step in establishing the strike of the Gold, Copper and Zinc system identified in the drilling results announced Dec 4, 2019. This will strengthen the targets set in our Phase 2 drill program and increase our chances of continuing to intersect this potential VMS System"

Qualified Person

All technical information in this press release has been reviewed and approved by Peter Caldbick, P.Geo. Mr. Caldbick is a consultant for Melkior and a Qualified Person for the purposes of National Instrument 43-101.

ON BEHALF OF THE BOARD

Keith James Deluce, CEO

For more information, please contact:

Melkior Resources Inc.

E-mail: info@melkior.com

Tel: 705-267-4000

The reader is invited to visit Melkior's web site www.melkior.com.

Neither TSX Venture Exchange nor its Regulation 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.

Melkior to Commence Down-Hole Geophysical Survey Based on Recent Gold and Copper Intercepts at Carscallen

Earlier from Melkior Resources Inc.