Melkior Provides Update on Financing

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

Melkior Provides Update on Financing

July 10, 2020 Trading Symbol:MKR

TSX Venture Exchange

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

pleased to announce that its $1 Million financing with Kirkland Lake Gold of 1,250,000 units at $0.80 per unit,

previously announced on May 20, 2020 is proceeding. The company expects it to close within the next 30 days.

Jonathon Deluce, CEO of Melkior, comments: “We continue to have positive discussions with Kirkland Lake as

we work to finalize the potential Option and JV agreement. We appreciate the patience of all our shareholders

and will provide a further update as soon as possible. We look forward to getting back to work on our Carscallen

project.”

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.