Melkior Announces Share Consolidation Effective February 26

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

Melkior Announces Share Consolidation Effective February 26

February 24, 2020 Trading Symbol: MKR

TSX Venture Exchange

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

pleased to announce that effective at the opening of trading on Wednesday, February 26, the

Company's share capital will begin trading on a post-consolidated basis.

The consolidation, previously announced on February 10, is on the basis of one new common

share for every ten old shares and the Company will have approximately 19,365,758 common

shares issued and outstanding on a post-consolidation basis. All outstanding warrants and stock

options will be adjusted accordingly to reflect the 1:10 share consolidation. The Company's name

and trading symbol will remain unchanged and the shares will have a new CUSIP number

(58549W303).

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.

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.