Melkior Closes Launay Property Transaction; Proposes Issuance of Shares for Debt

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

Melkior Closes Launay Property Transaction; Proposes Issuance of Shares for

Debt

July 26, 2017 Trading Symbol: MKR

TSX Venture Exchange

Timmins, Ontario. Melkior Resources Inc. (“ Melkior ” or the “ Company ”) is pleased to

announce that further to its news release of July 17, 2017, it has closed the sale of its 50% interest

in the Launay gold property, Ontario (the “ Property ”) to Beaufield Resources Inc. (TSX-V BFD)

(“ Beaufield ”). Beaufield now holds a 100% interest in the Pro perty.

In consideration for the Property, Beaufield paid the Company $125,000 and issued the Company

2,500,000 common shares. Melkior retains a 1.5% ne t smelter royalty on the Property, half of

which can be purchased by Beaufield for $750,000.

The Company also announces that it has agreed, subj ect to the acceptance of the TSX Venture

Exchange, to settle CDN$141,904.75 worth of debt by the issuance of 2,838,095 common shares

of the Company at a deemed price of $0.05 per share . $10,000 of the debt is to be settled with

non-arm’s length parties. All shares issued pursua nt to the debt settlement will be subject to the

standard four-month regulatory hold periods.

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.