Melkior Reports Results from 2021 Drill Program at Val D’Or Project

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

MELKIOR REPORTS RESULTS FROM 2021 DRILL PROGRAM AT VAL D’OR

PROJECT

November 12, 2021 Trading Symbol:MKR

TSX Venture Exchange

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

pleased to announce that it has received all 705 sample assay results (including 72 QA/QC samples) from the

1,449m drill campaign at the Val D’Or Project. The results allow the Company to better define additional targets

of interest that may be related to the same geological events that generated the newly defined gold and base metal

anomalies found during this drill program. The program’s objective was to investigate the geological formations

located in the western extension of the four mineralized showings located outside of the Property.

The Company is currently reviewing the data in comparison with the previously completed IP survey ( see news

release dated February 22nd, 2021) to define additional targets for exploration in 2022 as the western part of the

IP grid wasn’t drilled during this program and to follow up on new mineralization defined by this program.

Drill highlights can be seen below:

VDE-21-01 returned 176ppb Au over 1.0m and 430ppb Au over 0.75m (from depth 86.0m to 87.75m). Historic

hole 466-08-88 located east of VDE-21-01 returned 230ppb over 0.4m Au (134.6m deep) and 210ppb ppb over

0.70m Au (143.35m deep) (Perron & Guay, 1988) on the same E-W magnetic structure.

VDE-21-02 returned several zinc and copper values ranging from 1600 ppm to 3110 ppm Zn and 833 ppm Cu

over length of 0.7m . VDE-21-02 is located in a shear zone at the contact with a quartz feldspar porphyry dyke

(from depth 21.6m to 22.3m and 23.0m to 25.1m respectively). Silver values up to 1g/t over 1.4m and 1.35 over

1.6m was also obtained (from depth 23.0m to 24.4m and 69.0m to 70.6m respectively)

VDE-21-03 purpose was to test a magnetic high and returned a value 134 ppb Au over 1.5m in a moderaly sheared

small gabbro dyke.

VDE-21-06 returned values of 1.61 g/t Ag over 1.70m ( from depth 20.40m to 22.10 m) including 702 ppm Cu

over 1.15m in a basalt, at the contact with a QFP. It also returned 1.32 g/t Ag over 2.8m (from depth 62.35m to

65.15m) in a altered intermediate intrusive. It could be the lateral extension of the mineralization of historic hole

466-09-88 which returned 220ppb Au over 0.5m (80.54m deep) and 1000ppb Au over 1.0m (103.92m deep)

(Perron & Guay, 1988).

VDE-21-07 is localized in a magnetic low and returned 1.47 g/t Ag over 13.0m (from depth 64.5m to 77.5m) in

a brecciated zone in an altered andesite. It also returned 2.22g/t Ag over 15.30m (from depth 90.7m to 106.0m),

including 1.07g/t Au, 2370ppm Zn over 0.45m, 701 ppm Zn over 0.76m and 330 ppm Zn over 1.0m in an altered

fault gauge followed by an altered breccia zone.

VDE-21-08 is an altered gabbro and returned values of 1350ppm Cu over 0.7m (51.0 -51.7m) and 1.90 g/t Ag

over 0.80m (11.4-12.2m) in a highly altered medium shear. Historic hole 466-07-88 located west of VDE-21-08

returned 180ppb ppb over 0.30m Au (36.14m deep), 190ppb Au over 0.5m (107.20m deep) and 3900ppb Au over

0.3m (193.88m deep) (Perron & Guay, 1988) on the same E-W magnetic structure. Historic results were taken in

quartz-calcite-pyrite veins at the contact with a QFP.

VDE-21-09 is in a basalt in contact with sericite chlorite schist a sample returned 0.196 g/t Au over 0.5m. It could

be the lateral extension of the mineralization of historic hole B-50 which returned 600ppb Au over 0.5m (47.61m

deep) and 600ppb Au over 0.7m (48.6m deep) (Paterson et al, 1946).

VDE-21-11 retured 1.1 g/t Ag and 0.201 g/t Au over 0.8m (from 7.8m to 8.6m deep) in an epidote altered and

slightly sheared gabbro. In the sample lithology, it also returned 2.3g/t Ag over 0.9m (from 9.4 to 10.3m deep).

VDE-21-13 returned 0.97g/t Ag over 4.5m (from 69.0m to 73.5m deep) and 2.26g/t Ag over 5.0m (from 88.0m

to 93.0m deep), including 2.14g/t Au and 1.9g/t Ag over 1.0m (from 91.0m to 92.0m).

Figure 1: Northern Drill Holes over First Vertical Derivative of Magnetic Intensity.

Figure 2: Southern Drill Holes over First Vertical Derivative of Magnetic Intensity.

Follow-up in 2022

Most of the magnetic structures are oriented E -W and can be followed over long distances. Existing historic

mineralization appear to be continuous over those structures and were found at similar relative position in holes

from the 2021 campaign . The most a nomalous samples are not located at the crest of magnetic structures, but

mostly at the edge, within the strong gradien t. This could be indicative of faults or alteration corridors which

denaturated the magnetic or conductive minerals and replaced them with less conductive/magnetic carbonates or

silicates.

By combining historic results and the 2021 results, the anomalous zones tend to be parallel to the magnetic

lineatment, which can be followed over hundreds of meters. It is therefore possible that additional mineralization

is present along the lineament an d such structures should be investigated with more drilling. West of the 2021

drilling is an open area with the continuity of the structures and the area shows good targets for mineralizat ed

extensions. Figure 3, 4 and 5 show targets for follow-up in 2022.

Figure 3: Targets along Magnetic Structures on the North of the Grid

Figure 4: Targets along Magnetic Structures on the South of the Grid

Figure 5: Targets along Magnetic Structures on the West of the Grid

Table 1: 2021 Drill Program Details

Name Azimut

(˚)

Dip

(˚)

Length

(m)

Coordinate (NAD83 Z18) Target

Easting

(m)

Northing (m)

VDE-21-01 15 45 108 328153 5333556 Magnetic High, Low Conductor, Historical

Target

VDE-21-02 10 45 102 328198 5333444 Magnetic High, High Conductor and

Chargeable

VDE-21-03 10 45 102 327865 5333389 Magnetic High, Medium Conductor

VDE-21-04 10 45 102 327792 5333311 Magnetic High, High Chargeable

VDE-21-05 10 45 132 327969 5333160 Magnetic Low, Lithological Target

VDE-21-06 10 45 102 328055 5333059 Magnetic High, Low Conductor

VDE-21-07 10 45 159 327991 5332878 High Conductor and Chargeable

VDE-21-08 10 45 117 328202 5333360 Magnetic Gradient, High Conductor and

Chargeable, Historical Target

VDE-21-11 10 45 108 328146 5332955 Magnetic Gradient, Lithological Target

VDE-21-13 10 45 102 327850 5332946 Magnetic Gradient, Lithological Target

VDE-21-14 190 45 108 328129 5333439 Magnetic Gradient, Lithological Target

Qualified Person

This press release was prepared by Steven Lauzier, P.Geo,OGQ and by Pierre-Alexandre Pelletier, P.Geo OGQ,

who are qualified persons as defined under National Instrument 43 -101, and who reviewed and approved the

geological information provided in this news release.

References

Gariepy, L., 1988: Rapport sur la cartographie géologique sur la Propriété Tiblemont. Exploration Noranda Ltd, GM 48819.

Morin, R., Desjardins, D., Perron, L., 1988: Journal de sondage. Mines Messeguay inc, GM 48283.

Paterson, J. D., Fillingham, B. C., Macd onald, H. N., 1946. Diamond Drill Record. Bruell Consolid Mines Ltd, Rapport Statutaire

Soumis Au Gouvernement Du Québec; GM 38598, 52 Pages, 1 Plan.

Perron, L., Guay, P., 1988. Rapport De Travaux D'exploration 1987 -88, Projet Vauquelin # 466. Mines Messeguay Inc, Rapport

Statutaire Soumis Au Gouvernement Du Québec; GM 47581, 180 pages, 4 plans.

About Melkior Resources

Melkior Resources is an exploration stage resource company with strong partners in world -class mining

jurisdictions. Melkior’s flagship Carscallen Project is being advanced by Kirkland Lake Gold through a $110M

option/joint venture agreement. Melkior’s White Lake Project is being advanced by Barrick Gold through a $4M

option/joint venture agreement. Melkior under 100% ownership is focused on advancing it’s Val D’Or and

Maseres Projects in Quebec. Kirkland Lake Gold currently owns approximately 6% of the Company.

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.