Mr. Charles Entrekin reports

MELIOR RESOURCES INC. SUCCESSFUL BUY-OUT OF GOONDICUM ROYALTY AND INCREASE OF BELRIDGE LOAN FACILITY

Melior Resources Inc.'s takeover target Belridge Enterprises Pty. Ltd. has entered into an agreement to repurchase a 1.0125-per-cent royalty from Goody Investments Pty. Ltd. on the gross income from all ilmenite and apatite sold from the Goondicum project. Goody will maintain a royalty interest over other minerals on the property. Belridge will pay Goody $600,000 for the royalty interest.

The purchase of the royalty by Belridge will be financed through the extension of the existing short-term financing facility between Melior and Belridge. The loan has been increased by a further $900,000, to a total of $1.4-million, to include the payment of the royalty and to finance continuing operational costs through to closing of acquisition of Belridge, as detailed in a press release of March 31, 2014.

Charles Entrekin, chairman and chief executive officer of Melior, commented, "We are very pleased with the purchase of the royalty interest in the Goondicum project which is an important milestone in lowering the overall cost structure of the business.

"We have made significant progress toward the closing of the potential transaction and look forward to being able to start the redevelopment of the Goondicum operation in the near future."

We seek Safe Harbor.