Melkior – Maseres Update

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

MELKIOR – MASERES UPDATE

October 16, 2018 Trading Symbol: MKR

TSX Venture Exchange

Timmins, Ontario. Melkior Resources Inc. (“ Melkior”) has received a report “Geophysical

Overview of the VTEM dataset Maseres Project” prepared by Sharpe Geophysical Solutions. The

report is available at http://www.melkior.com/Maseres-report.pdf. Interested parties are

encouraged to print the Sharpe Geophysical Solutions report and study it.

Consistent with bedrock observed on the Maseres Project the report indicates “... it seems likely

that given the magnetic signature of the regional data that the geology may be similar to the Urban

Barry Greenstone Belt to the north “.

The next step for Melkior is to prepare a discussion document, to be published on the Melkior

website, incorporating the geophysical interpretation with both the geological observations and

the soil geochemical results received to date. Together this information will help direct Melkior in

defining and prioritizing target areas. The highest priority target area will be selected for an

induced polarization survey to be initiated on freeze up. When the IP data becomes available

sufficient information will be available to select initial drill hole collar locations and apply for a

drilling permit.

Wade Kornik, P.Geo., has approved the information co ntained 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 http://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.