MKR.V · 2020-05-07 12:00:00

Melkior Intersects 25.7 g/t Gold (0.91 oz/ton) over 6.0 Meters, Including 102 g/t (3.6 oz/ton) Gold over 1.5 Meters. 8.7% Copper and 33.9 g/t Silver over 0.5 Meters at Carscallen

Drill Results

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

Melkior Intersects 25.7 g/t Gold (0.91 oz/ton) over 6.0 Meters, Including 102 g/t

(3.6 oz/ton) Gold over 1.5 Meters. 8.7% Copper and 33.9 g/t Silver over 0.5 Meters

at Carscallen

May 7, 2020 Trading Symbol:MKR

TSX Venture Exchange

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

(OTC:MKRIF) is pleased to announce results from the first two drill holes on the Carscallen

Gold project located approximately 25 kilometers west of Timmins Ontario. Both holes were

drilled to depths of 600 meters with the first drill hole drilled between CAR-61-2010 which

intersected 4.85 g/t Au over 13.3 meters from 272.0 to 285.30 meters and CAR-19-03A which

intersected 23.5 g/t Au over 8.0 meters from 426.0 to 434.0 meters (November 28, 2019 press

release). The second drill hole was collared 25 meters west of drill hole CAR-19-03A to

commence drill testing the strike extent of the gold system encountered in CAR-19-03A.

Highlights:

• The Carscallen gold project lies within the township of Carscallen, approximately 25

kilometers southwest of the town of Timmins, Ontario. It is comprised of 295 claim

units covering 47 square kilometers with 100% ownership by Melkior.

• The drill program consisted of 1,950 meters with the first two drill holes drilled to

depths of 600 meters, and the third drill hole extended from 600 to 750 meters.

• Assay results have been returned for the first two drill holes and are pending for the

third drill hole with visual indications of mineralization.

• CAR-20-05 intersected 25.7 g/t Au over 6.0 meters from 357.0 to 363.0 meters,

including 205 g/t Au over 0.7 meters from 360.50 to 361.20 meters within mafic

metavolcanics approximately 35 meters below the granodiorite contact and 350 meters

vertically below surface.

• Drill hole CAR-20-05 has helped to confirm the current interpretation of a significant

gold-bearing epigenetic system (minerals forming later than the rocks enclosing it) that

continues below the granodiorite and into the mafic metavolcanics rocks below as

further verified by an earlier intercept of 51.9 g/t Au over 3.7 meters from 533 to 536.7

meters in CAR-80-2012.

• CAR-20-04 intersected 4.2 g/t Au over 4.0 meters from 334.0 to 338.0 meters

including 15.8 g/t Au over 1.0 meter from 337.0 to 338.0 meters. This intercept

occurred approximately 100 meters up-dip of the intersection in CAR-19-03A and

approximately 60 meters downdip of the intersection in CAR-61-2010. The intercept

occurred within the granodiorite approximately 325 meters vertically below surface and

further validates the interpretation.

• Drill hole CAR-20-04 further intersected .103% Copper over 18.5 meters from 472.5

to 491.0 meters plus 8.7% copper and 33.9 g/t silver over 0.5 meters from 545.0 to

545.50 meters

• Drill hole CAR-20-05 intersected .30% copper over 1.5 meters from 512.50 to 514.0

meters

• The ubiquitous presence of copper in the underlying mafic metavolcanics suggest that

this may represent a copper feeder system vectoring to a VMS (volcanogenic massive

sulphide) environment

• Exsics Exploration Inc has probed CAR-20-06 utilizing the mise-a-la-masse

geophysical system (MALM), which utilizes the conductive mass in the drill hole as one

of the current electrodes to aid in determining the geometry and strike extent of the

conductive mass. Three significant highly conductive lenses or injection points have

been determined by the survey, which is ongoing.

RESULTS FROM 2020 DRILL HOLES

Hole ID From

(m)

To (m) Length (m) Au

(g/t)

(%)

(g/t)

CAR-20-04 334 338 4.0 4.2

Including 336 338 2.0 8.05

And 337 338 1.0 15.8

472.5 491.0 18.5 .103

545 545.5 0.5 8.7 33.9

CAR-20-05 357 363 6.0 25.7

Including 360.5 362 1.5 102.0

And 360.5 361.2 0.7 205.0

512.5 519.0 6.5 1.35

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

reported core length intervals.

In 2012, Dr. Eric Hebert, P.h.D, P.Geo of GeoVector Management Inc., intersected 3.55%

Copper over 1.35 meters from 528.0 to 529.35 meters in CAR-79-2012 (March 26, 2012 press

release) consisting of “stringers of copper sulphide mineralization within a chlorite-rich

alteration zone.” Dr. Hebert went on to note, “the texture of sulphides and chloritic alteration

suggest a VMS origin (volcanogenic massive sulphides) that may be consistent with a possible

stringer zone of copper-rich VMS intersected” (March 26, 2012).

Jonathon Deluce, CEO of Melkior, remarks, “First off, we want to thank the long-time support

of our loyal shareholders and hope everyone is staying safe during these uncertain times. We

are very excited about these developments at our Carscallen project. We believe the potential of

the system we are uncovering is significant and could bring increased attention to our project in

the West Timmins Camp. We look forward to providing the results from CAR-20-06 and the

Mise-a-la-Masse survey shortly.”

Hole ID Easting

UTM

Northing

UTM

Length (m) DIP Azimuth

CAR-20-04 451927 5358046 600.0 -78 240

CAR-20-05 451957 5358091 600.0 -76 240

CAR-20-06 451957 5357827 750.0 -65 240

Figure 1 Semi-massive bornite and chalcopyrite in CAR-20-04 at 545 meters

8.7% copper and 33.9 g/t silver over 0.5 meters from 545.0 to 545.50 meters

** The photos are of selected intervals and are not necessarily indicative of the mineralization

hosted on the property

Figure 2 Coarse visible gold at 360.83 meters in CAR-20-05

205.0 g/t Au over 0.7 meters from 360.50 to 361.20 meter

**The photos are of selected intervals and are not necessarily indicative of the mineralization

hosted on the property.

Figure 3 Quartz vein rimmed with chalcopyrite (copper) at 513.0 meters in CAR-20-05 2.62 g/t gold and

.3% Copper over 1.5 meters from 512.50 to 514.0 meters

**The photos are of selected intervals and are not necessarily indicative of the mineralization

hosted on the property.

Figure 4 Blebby and matrix dominant chalcopyrite (copper) at 513.5 meters in CAR-20-05

2.62 g/t gold and .3% Copper over 1.5 meters from 512.50 to 514.0 meters

** The photos are of selected intervals and are not necessarily indicative of the mineralization

hosted on the property

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, all three drill holes were treated with the 1E3 36 element multi element

package with aqua regia analyses. 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

Jonathon Deluce, CEO

For more information, please contact:

Melkior Resources Inc.

E-mail: [email protected]

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.

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