Melkior – Maseres Drilling Has Commenced

Head Office: 66 Brousseau Ave., Suite 207, Timmins, ON P4N 5Y2 Canada

MELKIOR – MASERES DRILLING HAS COMMENCED

January 17, 2019 Trading Symbol: MKR

TSX Venture Exchange

Timmins, Ontario. Melkior Resources Inc. (“ Melkior”) is pleased to announce that drilling has

commenced on the Maseres Project. The drill cont ract is for a maximum of 5,000 meters of NQ

drilling. Bedrock observations have locally established with reasona ble certainty that the bedrock

stratigraphy generally strikes parallel to magnetic and electroma gnetic trends and dips moderately

to the south. Drill holes are currently being dr illed parallel to the grid lines and generally

perpendicular to lithology.

The first drill hole (MS-19-1) has been collar ed on Line 22+00N at 0+60E, azimuth 045 at an

inclination of -54. The hole is expected to be te rminated at about 150m. The IP data indicates that

there are three parallel targets within the grid area over a considerable strike length. MS-19-1

targets the most northerly of the IP zones and in addition to evaluating this target will establish the

bedrock units north of the package of bedrock that hosts the target horizons.

The second hole (MS-19-2) is currently planned to step back about 145 meters, on the adjacent

line to the north, and target the central anomalous IP zone. Depending on the success of the first

hole, MS-19-2 maybe continued to evaluate the northern anomalous zone at depth as well.

The third hole (MS-19-3) is currently planned for Line 25+00N and target the southern anomalous

zone. Depending on the success of the first hole and second hole, MS-19-3 may be continued to

evaluate the central and or northern anomalous IP zones at depth. Taken together these three drill

holes should provide a good understanding of the ge ological setting of the Maseres EM trend and

the reason for its response. Future drill hole locations will leverage ongoing results of the

completed drill holes and remain somewhat fluid in nature.

TMC Geophysics has provided Melkior with revised pseudo-sections and depth slices for the IP

survey data in advance of final report deli very. The Melkior website has been updated and

includes all of the updated maps and pseudo-sections:

IP Maps:

http://www.melkior.com/ip-maps/

IP Sections:

http://www.melkior.com/ip/

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Wade Kornik, P.Geo., has approved the information co ntained in this release. Mr. Kornik is the

Exploration Manager of the Company and is a Qualified Person as defined by National Instrument

43-101.

ON BEHALF OF THE BOARD

Keith James Deluce, CEO

For more information, please contact:

Melkior Resources Inc.

E-mail: [email protected]

Tel: 705-267-4000

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

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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.