MKR.V · 2021-12-16 12:00:00

Melkior Announces $860,000 Financing Lead by Insiders

Financings

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

December 16, 2021 Trading Symbol:MKR

TSX Venture Exchange

Timmins, Ontario. Melkior Resources Inc. (“ Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is

pleased to announce a non -brokered flow -through private placement (the “Private Placement”) for gross

proceeds of C$ 860,000, subject to final TSX Venture Exchange (the “TSXV”) approval. $64 0,000 of the

financing has been committed by two directors of the Company.

The Private Placement will be flow-through common shares issued at a price of $0.40 per common share, with

each such share issued as a “Flow-Through Share” within the meaning of the Income Tax Act (Canada).

Participation by insiders of the Company in the Private Placement will constitute a related party transaction as

defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions.

Because the Company's shares trade only on the TSX-V, the issuance of the securities is exempt from the formal

valuation requirements of Section 5.4 of MI 61 -101 pursuant to Subsection 5.5(b) of MI 61 -101 and exempt

from the minority approval requirements of Section 5.6 of MI 61-101.

Proceeds of the Private Pl acement will be used to conduct further exploration on the Company’s mineral

properties. The Company does not intend to issue finders’ fees on this financing.

All securities issued under the Private Placement will have a hold period of four months and a day from closing.

About Melkior Resources

Melkior Resources is an exploration stage resource company with a strong partner in world -class mining

jurisdictions. Melkior’s flagship Carscallen Project is being advanced by Kirkland Lake Gold through a $110M

option/joint venture agreement. Melkior under 100% ownership is focused on advancing it’s Val D’Or, White

Lake and Maseres Projects. Kirkland Lake Gold currently owns approximately 6% of the Company.

ON BEHALF OF THE BOARD

Jonathon Deluce, CEO

For more information, please contact:

Melkior Resources Inc.

Tel: 226-271-5170

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the

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