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TIMMINS, ONTARIO - TheNewswire - October 8, 2026 – Melkior Resources Inc. ("Melkior" or the "Company") (TSXV: MKR) (OTCQB: MKRIF) reports initial assay results from the first two holes of its 2026 winter diamond drill program at the Company's wholly owned Carscallen Gold Project, located approximately 25 km west of Timmins, Ontario.

Assay results from holes MKR-26-001 and MKR-26-002 confirm the down-plunge continuity of gold mineralization within the 1010 South structural corridor and extend the mineralized system to approximately 280 metres vertical depth. The results represent the first assays received from a 10-hole, 3,136-metre program designed to test the vertical and lateral extensions of known mineralized zones and evaluate additional targets across the property.

Key Highlights

• Completed 10 diamond drill holes totaling 3,136 metres targeting the 1010 North and South Zones, ZamZam-Jowsey trend, and Northwest Prospect.  

• Initial drilling confirms continuity of mineralization within the 1010 South Zone and supports the interpreted down-plunge extension of known high-grade mineralization.  

  • MKR-26-001: 2.91 g/t Au over 2.89 m, including 9.17 g/t Au over 0.90 m.  

  • MKR-26-002: 2.52 g/t Au over 2.60 m, including 6.33 g/t Au over 0.93 m.  

• Additional mineralized intervals were intersected within altered and sulphide-bearing shear zones. Mineralization remains open along strike and at depth.  

• Assays are pending from the remaining eight drill holes.  

• A fully funded surface exploration program, including geological and structural mapping, prospecting, and systematic rock sampling, is currently underway.  

1010 Zone

Initial results indicate continued vertical continuity of gold mineralization within the 1010 Zone. Both drill holes intersected mineralized shear-hosted quartz-carbonate veins associated with sulphide alteration.

The higher-grade intervals are interpreted to extend the plunge of the high-grade shoot intersected in hole MKR-24-002 (77.4 g/t Au over 6.9 m, including 445 g/t Au over 1.2 m) approximately 180 metres below the nearest historical drilling. Mineralized structures remain open both laterally and at depth.

Assays from additional holes that intersected similar alteration, quartz veining, and sulphide mineralization remain pending.

District-Scale Potential

In addition to the 1010 Zone, the winter drill program tested targets along the ZamZam-Jowsey corridor and at the Northwest Prospect. The presence of deformation corridors, quartz-sulphide veining, hydrothermal alteration, and gold mineralization across multiple target areas continues to support the Company's exploration model for a property-scale gold system at Carscallen.

Property-Wide Exploration Program

Melkior has commenced a fully funded surface exploration program aimed at refining drill targets and improving the understanding of structural controls on mineralization. Work includes detailed geological and structural mapping, systematic rock sampling, expansion of known mineralized trends, and generation of new drill targets.

To date, 178 rock samples have been collected and submitted for analysis. Partial assay results totalling 100 of 178 samples were received and will be integrated with current drilling data to support future exploration planning.

Management Commentary

"These initial results confirm the continuity of gold mineralization at depth within the 1010 Zone and support our interpretation of a down-plunge extension to the high-grade mineralization previously identified," said Bernard Deluce, CEO and Director.

"With assays pending from eight additional drill holes and ongoing surface exploration, we continue to advance our understanding of the broader Carscallen mineralized system and its exploration potential."

Looking Ahead

Assays remain pending from eight drill holes and surface rock samples. Results from ongoing drilling and field programs are expected to support further target generation, resource expansion potential, and evaluation of additional gold-bearing structures across the Carscallen Property.

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         Fig 1. Carscallen Property Map with Drill Locations on Satellite Imagery near Timmins, Ontario

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Fig 2. Cross Section along 1010 South Zone Highlighting Drill Assay Intercepts for Holes MKR 26-001 and MKR-26-002.

Table 1 . Significant Drill Assay Intercepts from the 1010 Zone. All reported intervals are core lengths. The geometry of the mineralized zones is not sufficiently constrained to determine true widths.

Quality Assurance and Quality Control

Diamond drill core was logged, photographed, sampled, and cut in half using a diamond saw, with one-half submitted for analysis and the remaining half retained for reference. Samples were delivered in sealed bags to AGAT Laboratories Ltd., an independent ISO/IEC 17025 accredited laboratory, for sample preparation and analysis.

Samples were analyzed for gold by 50-gram fire assay with atomic absorption finish. Samples returning elevated values were reanalyzed using gravimetric methods, where appropriate. The Company's quality assurance and quality control program includes the insertion of certified reference materials, blanks, and field duplicates at regular intervals within the sample stream. Review of QA/QC data indicates acceptable accuracy and precision of analytical results reported herein.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Martin Ethier, P.Geo., a consultant to Melkior Resources Inc. and a Qualified Person as defined by **National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Melkior Resources

Melkior Resources Inc. is a Canadian mineral exploration company focused on the discovery and advancement of gold projects in the prolific mining jurisdictions of Ontario and Québec. The Company is committed to creating shareholder value through disciplined, technically driven exploration and the systematic evaluation of high-potential mineral assets.

Melkior's core portfolio is anchored by the Carscallen Gold Project, located in the heart of the Timmins Gold Camp, one of Canada's most productive gold districts. The Company also holds the Beschefer East, Genex, and Val-d'Or projects, all strategically positioned within the highly prospective Abitibi Greenstone Belt, a world-renowned mining region that hosts numerous significant gold and base metal deposits.

Leveraging a combination of modern exploration techniques, geological expertise, and a strong treasury, Melkior continues to advance its projects with the objective of making new discoveries and unlocking value across its portfolio.

ON BEHALF OF THE BOARD

Bernard Deluce, CEO and Director

For more information, please contact:

Melkior Resources Inc.

E-mail:  info@melkior.com

Tel: 705-805-0390

The reader is invited to visit Melkior’s web site  www.melkior.com .

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