Mr. Keith James Deluce reports

MELKIOR ANNOUNCES COMPLETION OF FLOW-THROUGH PRIVATE PLACEMENT

Melkior Resources Inc. has closed its non-brokered private placement, raising gross proceeds of $654,000 through the issuance of 5.45 million flow-through (FT) common shares comprised within units at a price of 12 cents per FT unit.

The FT units are subject to a hold period of four months and one day from the date of issuance. Each FT unit consists of one FT share and one-half of one common share purchase warrant. Each warrant is exercisable for one additional common share at a price of 20 cents per warrant share for a period of two years from the date of issuance. The FT shares qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and as defined in Section 359.1 of the Quebec Tax Act with respect to proposed purchasers in Quebec.

The company intends to use the proceeds raised from the sale of the FT shares toward Canadian exploration expenses that are flow-through mining expenditures (as such terms are defined in the tax act) related to the company's mineral properties.

One director of the company participated in the FT offering, acquiring an aggregate of 500,000 FT units. The insider's participation constitutes a related party transaction, as defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions . The issuance of the FT units to the director is exempt from the valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(a) of MI 61-101 and exempt from the minority shareholder approval requirements of Section 5.6 of MI 61-101, pursuant to Subsection 5.7(1)(a) of MI 61-101.

The FT offering remains subject to the Company's final filing requirements with the TSX Venture Exchange and TSX-V final approval.

The company also announces that Bernard Deluce has been appointed chief executive officer and a director of Melkior, effective immediately. Bernard Deluce succeeds Jonathon Deluce, who will remain involved with the company as a director. Mr. Deluce brings significant experience in business leadership and capital markets, and the company looks forward to his leadership as it advances its exploration strategy.

Bernard Deluce is a Canadian businessman who has been involved in mining property transactions for the past 25 years, as well as investing in mining companies, particularly in Northern Ontario and Quebec.

He has also represented his family's interests by serving on the board of Holmes Gold Mines Ltd. from 2004 until it was acquired by Lakeshore Gold Corp. In addition, he was an independent board member of Beaufield Resources Inc. from 2016 to 2017, until it was acquired by Osisko Mining.

He looks forward to taking Melkior to the next stage of development in this rejuvenated mining market, building on Melkior's current assets while also pursuing new opportunities as they arise.

We seek Safe Harbor.