MKR.V · 2019-11-28 12:00:00

Melkior Intersects 23.5 g/t Au over 8.0 Meters on the Carscallen Project

Drill Results

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

November 28, 2019 Trading Symbol: MKR

TSX Venture Exchange

Timmins, Ontario. Melkior Resources Inc. (“Melkior”) (TSXV:MKR) is pleased to announce that

it has received partial assay results from its recently completed Carscallen drill program,

specifically, it has intersected 23.5 g/t Au over 8.0 meters from 426.0 to 434.0 meters Including

372 g/t Au over a half meter from 433.0 to 433.5 meters on the third deep hole CAR -19-03A

during the fall 2019 drill campaign in Carscallen Township. The Carscallen Project is located

approximately 25 km west of the town of Timmins, Ontario and 5 km west of Pan American Silver’s

Timmins West Mine. The third hole was drilled in the Shenkman zone to validate and follow up on

earlier deep intercepts drilled by Geovector from 2011 to 2013.

An interpretation of the vein system intercept suggests that it occurs approximately 150 meters

downdip of an earlier intercept in CAR -61-2010 which ran 4.84 g/t Au over 13.3 meters within

the granodiorite and approximately 70 meters updip of an intercept in CAR-80-2012 which ran 51

g/t Au over 3.5 meters including 185.5 g/t Au over 1.0 mete r. This intercept occurred in the

underlying mafic volcanics, whilst the recent intercept in CAR -19-03A occurred within the

overlying granodiorite approximately 24 meters vertically above the granodiorite/mafic volcanic

contact.

The similarities in grade of these intercepts reinforce the theory that this gold bearing system is

epigenetic (formed much later than the rocks which enclose it). The system intersected is described

as a “grey zone” which is carbonatized and silicified with semi -massive columnar aggregates of

pyrite with coarse free flakes of visible gold (CVG). The surrounding wallrock, while lower in

grade, also possesses this silicified and carbonatized alteration halo with finely disseminated pyrite.

The first two holes were shallow 300 meter holes designed to validate earlier drill intercepts as well,

and returned significant values such as 1.27 g/t Au over 5.0 meters from 98.5 to 103.50 meters in

CAR-19-01 including 8.1 g/t Au over 0.5 meters from 103.0 to 103.50 meters within the

granodiorite in the Shenkman zone plus CAR -19-02 drilled in the Zam Zam zone which returned

4.27 g/t Au over 1.0 meter from 143.5 to 144.5 meters (see table below).

RESULTS FROM DRILL HOLES

Hole ID From

(m)

To (m) Length (m) Au (g/t)

CAR-19-01 98.5 103.5 5.0 1.27

Including 103.0 103.5 0.5 8.10

108.5 113.5 5.0 1.12

Including 108.5 109.0 0.5 4.47

CAR-19-02 143.5 144.5 1.0 4.27

CAR-19-03A 426.0 434.0 8.0 23.50

Including 430.0 434.0 4.0 47.0

Including 433.0 433.5 0.5 372.0

* Stated lengths are core lengths as drilled. True widths are estimated to be 80% of reported

core length intervals.

Drill hole CAR-19-03A deviated approximately 8.0 meters westward of an earlier intercept in Drill

hole CAR-79-2012 which intersected 15.5 g/t Au over 1.75 meters (see figure 1) and demonstrates

the consistency of gold tenor as well as providing a vector for follow up drilling on this project. The

drill hole further demonstrates the increased tenor of gold proximal to the granodiorite/mafic

volcanic contact as well as the potential for increased grades at depth. The Vein system is open at

depth and on strike with a northwest vector confirmed by the recent drill results.

Figure 1 Section 16A showing location of new results and distances from historic results

Melkior has requested a multi element analysis of CAR -19-03A from Actlabs as approximately 3

to 4% chalcopyrite was observed sporadically in fracture fillings and occupying quartz -carbonate

infilled tension gashes within the mafic volcanics immediately below the granodiorite/mafic

volcanic contact for approximately 24 meters suggesting anomalous copper (Figure 2). Results are

pending for these analyses.

Figure 2 Photograph of Drill Core at 472.5 Meters in DDH CAR-19-03A Showing Fractures Infilled

With Chalcopyrite and Pyrrhotite.**

** Photographs are of selected intervals and are not necessarily representative of the mineralization

hosted on the property.

Jim Deluce, CEO of Melkior remarks, “We are very excited to announce these exceptional results

from our Carscallen Project and we appreciate the on -going support from our long- time

shareholders! We believe this hole highlights the significant potential of the project and warrants

designing a further drill program to determine the size of this high -grade mineralized system. We

are excitingly waiting the multi element analysis of CAR-19-03A which will be returned in the next

few days.”

The program was carried out under the supervision of Peter Caldbick, P.Geo and a consultant for

Melkior Resources Inc., the qualified person responsible for this news release. The drill core was

split with half sent to Actlabs in Timmins, On and fire assayed with an AA and gravimetric finish.

Whole metallic assays are performed on samples greater than 10 g/t gold and samples containing

visible gold. In addition, the third drill hole was treated with the 1E3 36 element multi element

package with aqua regia a nalyses. Duplicates, standards and blanks were inserted into the sample

stream.

Qualified Person

All technical information in this press release has been reviewed and approved by Peter Caldbick,

P.Geo. Mr. Caldbick is a consultant for Melkior and a Qualified Person for the purposes of 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.

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.

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