Mr. Jim Deluce reports

MELKIOR RESOURCES EXPANDS ITS CARSCALLEN PROJECT IN TIMMINS CAMP

Melkior Resources Inc. has entered into an agreement with Douglas Lalonde and Gilles Allaire (the vendors), arm's-length parties to Melkior Resources, to acquire a gold exploration property in Timmins, Ont. Melkior will acquire a 100-per-cent interest in the Turnbull property in the Timmins, Ont., which adjoins the company property to the northwest, adding an additional 76 mineral claims to the company's 376 mining claims land package.

Pursuant to the agreement, Melkior Resources will pay cash of $10,000; 300,000 common shares of the company; and provide a 2-per-cent net smelter royalty (NSR). Melkior has the exclusive right to purchase at any time 1 per cent of the NSR for $1-million leaving the vendor with a 1-per-cent NSR royalty.

The shares to be issued pursuant to the agreement will be subject to a hold period of four months and a day from the date of issuance. The agreement is subject to TSX Venture Exchange approval.

The new land package (property 1 and 2) is located on the northwest boundary of the Carscallen property and lies along a four-kilometre north-northwest-south-southeast-trending mineralized corridor which host multiple gold-bearing zones including the DeSantis, Big Vein, Leduc, Staten and DC, and Devanney, further enhancing the exploration upside on the property.

Company director Jim Deluce commented: "We are very pleased to acquire these additional gold properties under favourable terms. These areas increase the company's exploration portfolio and discovery potential for additional gold mineralization within the Carscallen gold property in Ontario. Our next steps would involve establishing a property wide airborne electromagnetic MT survey program to define priority areas for surface exploration and drilling."

Surface samples are considered representative of the in-situ mineralization samples. At this stage true widths of mineralization are not known. Grab samples are selective by nature and are unlikely to represent average grades on the property.

Source of information. Historical grab samples based on Ontario assessment database file -- Gold Rush Project Assessment Report Prospecting, Geophysics, Stripping, Till Sampling & Drilling by Sanatana Resources Inc. by Kevin Kivi and Buddy Doyle dated February, 2022, pages 64 to 71.

Brief historical information on the gold prospects at Turnbull property based on Ontario Geological Survey (OGS) mineral inventory reports.

Delbridge mine (DeSantis) shaft

Feb. 27, 2008 (A Wilson) -- The gold showing consists of quartz veins in gabbro and granophyre. Grab samples from a trench blasted by Delbridge Mines Ltd. returned assays up to 0.123 ounce per tonne Au over three feet. Grab samples collected by R. Rousseau in 1997 returned assays up to 7.58 g/t Au and 1,820 ppm (parts per million) Mo (molybdenum).

Desantis prospect (Big Vein)

Feb. 28, 2008 (A Wilson) -- The property lies within the Kamiskotia Gabbroic complex. The quartz vein lies within a quartz feldspar porphyry, adjacent to a diabase dike. The vein strikes north 13 degrees west and dips vertically. It is 170 feet long and pinches out at the south end. The vein has a maximum width of four feet, widening to five feet at depth. The main vein contains pyrite and chalcopyrite in fractures in the quartz. The sulphides are most abundant along the walls of the vein. Native gold was observed within the mineralized vein. A grab sample collected by the ODM in 1924 returned $94.20 gold (4.71 oz/t gold). A sample collected by Hollinger Gold Mines Ltd. assayed 0.88 oz/t Au. Sampling from the 125-foot level, south drift returned assays ranging from 0.14 oz to 0.58 oz within the quartz vein. Assays from pulps of grab samples from the trenches taken in 1983 returned up to 7.58 per cent Cu. Grab samples collected in 1998 from trenches to the south of the shaft returned assays up to 77.35 g/t gold.

Leduc occurrence

Feb. 29, 2008 (A Wilson) -- Three veins are found on the property. They range in length from 50 to 100 feet in length and from one to eight feet in width. The veins strike between 260 and 340 degrees, and dip 30 degrees north. The veins discontinuously follow the contact between the gabbro and the granite. The pyrite occurs in pockets rather than disseminated throughout the vein. Channel samples from quartz veins on the adjacent claim (P18985) returned value sup to 0.04 oz/t gold over four feet. A grab sample collected from the wall rock by the OGS in 1949 returned 0.13 oz/t gold.

Staten Porcupine shaft

Feb. 29, 2008 (A Wilson) -- Three veins are found on the property. They range in length from 50 to 100 feet in length and from one to eight feet in width. The veins strike between 260 and 340 degrees, and dip 30 degrees north. The veins discontinuously follow the contact between the gabbro and the granite. The pyrite occurs in pockets rather than disseminated throughout the vein. Channel samples from quartz veins on the adjacent claim (P18985) returned value sup to 0.04 oz/t gold over four feet. A grab sample collected from the wall rock by the OGS in 1949 returned 0.13 oz/t gold.

T. Devanney property

Feb. 28, 2008 (A Wilson) -- The occurrence is described as quartz-calcite veins within sheared gabbro. The shear zone is six feet wide, has been traced for 300 ft and dips north 68 degrees east. There are four known veins on the claim. The veins range in width from one to 10 feet and average 100 feet in length. One of the veins appears to cross the boundary with the Staten Porcupine gold mines property. Assays up to $7.00 gold were reported. Grab samples collected by Hollinger Consolidated Gold Mines Ltd. returned assays up to 0.06 oz/t Au.

Qualified person

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

About Melkior Resources Inc.

Melkior Resources is an exploration-stage resource company operating in world-class mining jurisdictions across Quebec and Ontario. The company is dedicated to advancing a portfolio of high-potential mineral properties with a primary focus on gold exploration.

Melkior's flagship projects include the Carscallen project, the Beschefer East project, the Genex project and the Val d'Or project. These projects are strategically located in the Abitibi greenstone belt, known for hosting significant gold and base metal deposits.

We seek Safe Harbor.