Melkior Exploration Update

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

Melkior Exploration Update

August 29, 2017 Trading Symbol: MKR

TSX Venture Exchange

Timmins, Ontario. Melkior Resources Inc. (“ Melkior ”) is pleased to provide an update to

ongoing exploration.

Drilling on the Carscallen Project is ongoing, the drilling budget has been extended to 3,400 m.

Twelve holes (1,800 m) have been completed to date. The drill program has generally been

implemented as described in the 2017 Exploration Pl an available on the Melkior website

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

The twelve drill holes completed to date (Targets A through F) have validated some of the targets.

Core samples have been submitted up to drill hole 6 , assay result have only started to come in

and will be released in batches as received.

The thirteenth drill hole of this drilling campaign (Target G, CAR-17-13, Az 250 -45, UTM 17

451735E 5356571N) is underway, currently at a depth of 452 m and as yet not terminated. CAR-

17-13 has encountered significantly more interestin g material than the other drill holes. Upon

completion of CAR-17-13 a second parallel drill hole will immediately be constructed 50 meters

north. Visual observations are encouraging, assays are expected to be received in about one

month. Continued targeting is going to proceed based on visual observations.

A previously undocumented mineralized “whaleback” o utcrop has been identified in the low

lying swampy area 200 m due west of CAR-17-13. Rus h assays from this new gold showing

have returned assays up to 9.5 g/ton Au from grab s amples. The mineralization is hosted in a

silicified cataclastic zone in the granite that hosts a multi-episodic quartz vein (Az 290, -70E) up

to 30 cm wide. One of the interesting sections obse rved in CAR-17-13 is thought to be the 200

m down dip extension of this new gold showing.

One additional strategic claim has been added to th e Carscallen Township portfolio in close

proximity to current operations.

Jim Deluce, CEO of Melkior comments, “Melkior is pl eased that Target G provides us with a

focus for continued drilling.”

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

Exploration Manager of the Company 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 may contain or refer to forward-l ooking information based on current expectations, i ncluding, but

not limited the prospect of the Company achieving s uccess in exploring the Carscallen Project and the impact on the

Company of these event, including the effect on the share price. Forward-looking information is subject to significant

risks and uncertainties, as actual results may diff er materially from forecasted results. Forward-look ing information

is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new

events or circumstances.

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

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