Mr. Jonathon Deluce reports

MELKIOR ANNOUNCES 700M DRILL PROGRAM AT MASERES (URBAN BARRY)

Melkior Resources Inc. has commenced 700 metres of drilling at Maseres. This program will consist of four holes to test the reinterpreted up-ice target from previously identified till and soil anomalies.

The company determined this target through re-evaluating its geochemical data, following a till survey completed on the Maseres property during the summer (see news release dated July 9, 2020). The till survey was conducted to confirm previously known soil sample anomalies defined in 2019 by the company. The survey includes the southwest area from the previously drilled targets, and the new interpretation. The reinterpretation of the 2019 soil results and 2020 till sample results indicate a possible source of mineralization on the property, just up-ice from the previously drilled locations. The company selected four holes located up-ice, which also target IP anomalies, as shown in the table included.

       TARGETED GEOPHYSICAL ANOMALIES UP-ICE
 
Hole ID     Chargeability    Resistivity           Magnetism    
   
MS-21-21        Very weak           High    Contact high/low 
MS-21-22           Strong            Low                 Low             
MS-21-23           Strong            Low                 Low             
MS-21-24         Moderate            Low            Moderate        

Jonathon Deluce, chief executive officer of Melkior Resources, commented: "We are excited to commence our 700-metre program on our Maseres project in the Urban-Barry gold camp. The re-interpretation of the previous soil samples and 2020 till samples provide a renewed theory on our A Block target shown in Figure 2. While the previous drill program focused on the IP targets under the strong soil results, we believe that the potential source of the Au, Ag, Zn anomalies are up-ice and along the structure further to the northeast."

Qualified person

This press release was prepared by Steven Lauzier, PGeo, OGQ, and by Pierre-Alexandre Pelletier, PGeo, OGQ, who are qualified persons as defined under National Instrument 43-101, and who reviewed and approved the geological information provided in this news release.