Mr. Jonathon Deluce reports

MELKIOR INTERSECTS 60.5G/T AU, 55.6G/T AG, AND 0.13% CU OVER 0.5 METERS WITHIN 14.76G/T AU OVER 2.1 METERS AT CARSCALLEN

Melkior Resources Inc. has released results from 4,440.0 metres of drilling (5,618 m program) on the Carscallen gold project located approximately 25 kilometres southwest of Timmins, Ont. The total metres were cut short from the previously announced 6,660-metre extension due to a drill permit limitation.

Program highlights:

• The Carscallen gold project lies within the township of Carscallen, approximately 25 kilometres southwest of Timmins, Ont. It comprises 295 claim units covering 47 square kilometres with 100-per-cent ownership by Melkior.
• The drill program consisted of 5,618 metres.
• Assay results have been returned for the first seven holes and are pending for the last two holes with visual indications of mineralization.

Jonathon Deluce, chief executive officer of Melkior, remarked: "We are excited to announce our first results from the Kirkland Lake gold partnership at Carscallen. We continue to extend the Shenkman zone to the southeast and demonstrate continuity to our high-grade gold system. We look forward to the summer field program and remaining drilling planned for 2021."

                          SIGNIFICANT ASSAY TABLE

Hole ID            From       To    Length      Au       Ag       Cu      Zn
                    (m)      (m)       (m)   (g/t)    (g/t)      (%)     (%)

CAR-20-08         400.5    401.0       0.5    7.39
CAR-20-09B        534.5    537.5       3.0    8.93      3.6             0.26
incl.             537.0    537.5       0.5    38.8
                  553.0    556.0       3.0    1.92
incl.             555.5    556.0       0.5    5.66      5.0              1.1
                  734.5    735.0       0.5    1.26      4.6             0.26
                  741.5    742.0       0.5    3.28      4.9             0.99
CAR-20-10        408.45    412.6       4.1    6.85
incl.             412.1    412.6       0.5    40.1
CAR-20-11         293.7    298.8       5.1    2.25
incl.             293.7    294.2       0.5    12.3
                  407.5    408.5       1.0    3.83
CAR-21-12         464.5    465.0       0.5    7.46
                  480.9    483.0       2.1   14.76
incl.             489.9    481.4       0.5    60.5     55.6     0.13
CAR-21-14         376.0    378.0       2.0    6.52
                  405.0    407.0       2.0    7.79
incl.             405.0    405.5       0.5    31.0

* Stated lengths are core lengths as drilled. True widths are estimated 
to be 80 per cent of reported core length intervals. 
** Drill hole CAR-20-07 was terminated early at 177 metres due to 
intense faulting. CAR-21-13 did not return any significant values.
 

The drill program was performed and managed by Kirkland Lake Gold. The drill core was split with half sent to Actlabs in Timmins, Ont., and fire assayed with an AA (atomic absorption) and gravimetric finish. Whole metallic assays are performed on samples greater than 10 g/t gold and samples containing visible gold. In addition, all seven drill holes were treated with the 1E3 36-element multielement package with aqua regia analyses. Duplicates, standards and blanks were inserted into the sample stream.

Carscallen next steps:

• Drilling is estimated to resume during Q2 2021, with a minimum 4,000 metres currently budgeted for the remainder of the year.
• Historical geophysics review is under way to assist with exploration targeting.
• This summer, a field program will be conducted to review the historical trenches in the Zam Zam zone for structural trends to complement and augment future drilling strategies.

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.