Melkior Acquires Kakeeway Claims - Hemlo

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

MELKIOR ACQUIRES KAKEEWAY CLAIMS - HEMLO

May 16, 2017 Trading Symbol: MKR

TSX Venture Exchange

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

entered into an agreement to purchase an additional 76 claim units totaling 3,004 acres in the

White Lake Area of Hemlo, Ontario (the “ Property ”), subject to the acceptance of the TSX

Venture Exchange. The Property is located within th e Hemlo greenstone belt, 22 km east of the

Hemlo Gold Mine currently operated by Barrick Gold Corporation and 3.5 km west of the

previously announced claims Melkior acquired through staking (NR, Feb 15, 2017).

The Property hosts the high-grade Carroll-MacDougal l gold occurrence, a historical gold

occurrence named after the prospectors who first lo cated the occurrence in the fall of 1993. The

Carroll-MacDougall gold occurrence has reported assays of up to 1,168 g/t gold, taken by resident

geologists with the Ontario Geological Survey and reported grab assays of 19.88 g/t gold.

Total consideration for the Property is a cash paym ent of $5,000 (paid) and the issuance of

1,500,000 common shares upon approval of the transaction by the TSX Venture Exchange. The

Property is subject to a 3% net smelter return roya lty in favour of the vendor. Melkior has the

option to purchase one-third of the royalty at any time for payment of $1,000,000.

Melkior is always searching for new opportunities and is working to enhance its claim inventory

in Hemlo, Urban-Barry and in Timmins with the goal of increasing shareholder value.

Melkior’s Carscallen Project, Timmins, Ontario, cur rently has an exploration permit pending

with the Ministry of Northern Development and Mines . A drill contract for 2,700 m has already

been awarded for the Carscallen Project. On MNDN permit approval, the 2017 Exploration Plan

will be implemented. The Exploration Plan is available on Melkior’s website at:

http://www.melkior.com/wp-content/uploads/MKR-2017-Exploration-Plan.pdf .

On completion of the Timmins drill program, Melkior is committed to undertaking an airborne

geophysical survey, summer 2017, that will cover the entire Maseres Project in Urban-Barry gold

camp in Quebec. This data will provide the ground c ontrol and data needed to implement a

focused follow-up ground truthing and evaluation of the geophysical results. Melkior has the goal

of raising the funding required for the airborne survey and a field program on the Maseres Project

on the completion of our Carscallen drilling campaign.

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Wade Kornik, P.Geo., has approved the technical inf ormation contained in this release. Mr.

Kornik is the Exploration Manager of Melkior and is 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.

This news release contains forward-looking statements that address future events and conditions, which are subject to various risks

and uncertainties. Melkior’s actual results, programs and financial position could differ materially from those anticipated in such

forward-looking statements as a result of numerous factors, some of which may be beyond Melkior’s control. These factors include:

the availability of funds; the timing and content o f work programs; results of exploration activities and development of mineral

properties, the interpretation of drilling results and other geological data, the uncertainties of res ource and reserve estimations,

receipt and security of mineral property titles; pr oject cost overruns or unanticipated costs and expe nses, fluctuations in metal

prices; currency fluctuations; and general market a nd industry conditions. Forward-looking statements are based on the

expectations and opinions of Melkior’s management on the date the statements are made. The assumptions used in the preparation

of such statements, although considered reasonable at the time of preparation, may prove to be impreci se and, as such, undue

reliance should not be placed on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in the poli cies of the TSX Venture

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