Mr. Jonathon Deluce reports

MELKIOR ANNOUNCES DRILLING COMMENCEMENT OF 3,800 METRES AT CARSCALLEN

Through the strategic partnership with Kirkland Lake Gold Ltd. (operator), Melkior Resources Inc. has commenced a 3,800-metre drill program on its Carscallen project located approximately 25 kilometres west of Timmins, Ont., and approximately six kilometres west of Pan American Silver's West Timmins mine.

Jonathon Deluce, chief executive officer of Melkior, remarks: "We are very excited for this first phase of exploration by Kirkland Lake Gold at our Carscallen project where past work has identified high-grade gold in multiple locations including the Zam Zam zone, Shenkman zone, 1010 zone, Jowsey zone and Behemoth zones. The planned program, which includes drilling along strike and to depth of the Zam-Zam-Shenkman trend, provides a very exciting target and we are optimistic that the new drilling will continue to extend the strike length and prove continuity amongst the high-grade veins encountered to date."

The new drill program will focus on the 800 m long northwesterly trending Zam Zam-Shenkman trend which has already been partially defined by past drilling and produced multiple high-grade intercepts of gold. A key part of the program will involve a series of holes to follow up on the gold intercepts encountered in the preceding fall, winter and spring drill programs. Intersection highlights from these programs include CAR-19-03A with 23.5 grams per tonne Au over 8.0 metres, 430 metres vertically below surface (Nov. 28, 2019, press release), and CAR-20-05 with 25.7 g/t Au over 6.0 metres, 350 metres below surface (May 7, 2020, press release), from the south edge of the Shenkman zone as well as CAR-20-06, which includes 5.68 g/t Au and 6.4 g/t Ag over 9.5 m, including 67.9 g/t Au, 79.8 g/t Ag and 0.62 per cent Cu over 0.5 m from an area 260 m to the south of the Shenkman zone.

The key objectives for the drilling are to test the gold system both for sustained grades at depth and for continuity up dip and northwest-southeast along strike of previous encouraging drill results. Work has also been planned to evaluate possible new targets for future drilling including areas to the north, south and to depth of the Zam Zam-Shenkman trend, where little to no drilling has been completed for more than one kilometre in each direction.

Qualified person

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