Melkior Resources Expands its Carscallen Project in Timmins Camp
Head Office: 66 Brousseau Ave., Suite 207, Timmins, ON P4N 5Y2 Canada
Melkior Resources Expands its Carscallen Project in Timmins Camp
February 28, 2025 Trading Symbol: MKR
TSX Venture Exchange
Timmins, Ontario – Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV: MKR) (OTC: MKRIF) is
pleased to announce that has entered into an agreement (the “ Agreement”) with Douglas Lalonde and Gilles
Allaire (the “ Vendors”), arm’s length parties to Melkior Resources, to acquire a gold exploration property in
Timmins, Ontario. Melkior will acquire a 100% interest in the Turnbull Property in the Timmins, Ontario which
adjoins the company property to the northwest, adding an additional 76 mineral claims to the Company's 376
mining claims land package.
Figure 1: Carscallen Project Overview:
Pursuant to the Agreement, Melkior Resources will pay cash of $10,000; 300,000 common shares of the Company
(the “Shares”); and provide a 2% Net Smelter Royalty (“NSR”). Melkior has the exclusive right to purchase at
any time 1% of the NSR for $1,000,000 leaving the Vendor with a one percent (1%) NSR Royalty.
The Shares to be issued pursuant to the Agreement will be subject to a hold period of four months and a day from
the date of issuance. The Agreement is subject to TSX Venture Exchange approval.
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The new land package (Property 1 & 2) is located on the northwest boundary of the Carscallen Property and lies
along a 4 km NNW -SSE trending mineralized corridor which host multiple gold bearing zones including the
DeSantis, Big Vein, Leduc, Staten and DC and Devanney, further enhancing the exploration upside on the
property.
Company director, Jim Deluce commented: “We are very pleased to acquire these additional gold properties under
favorable terms. These areas increase the Company’s exploration portfolio and discovery potential for additional
gold mineralization within the Carscallen Gold Property in Ontario. Our next steps would involve establishing a
property wide airborne Electromagnetic MT Survey Program to define priority areas for surface exploration and
drilling”.
Table 1: Turnbull Gold Prospect Highlights
Name of
Gold
Prospect
Easting Northing Grab
Samples
(Au gpt)
Remarks
Big Vein
(Mountain
of Gold)
448179 5367273 6.45 Big quartz-carbonate vein, Gold with coarse
pyrite, Au-Mo-Te system
De Santis 448297 5367941 59.2 Nuggety gold, Qtz veins associated with shear
zone.
Leduc 447188 5368215 3.54 2 pits, narrow shear zone and quartz veins.
Au-Mo-Te system.
Staten 449416 5368555 7.14 Good grades, high silver, east extension of
mining lease.
Devanney 448960 5369000 20.1 Good Grades. Qtz veins in shear zone.
DC 449426 5369451 8.4 Quartz veins in shear zone
Surface samples are considered representative of the in -situ mineralization samples. At this stage true widths of mineralization are
not known. Grab samples are selective by nature and are unlikely to represent average grades on the property.
SOURCE OF INFORMATION. Historical Grab Samples based on Ontario Assessment Database File - Gold Rush Project Assessment Report
Prospecting, Geophysics, Stripping, till sampling & Drilling by Sanatana Resources Inc. by Kevin Kivi and Buddy Doyle dated February
2022, Pages 64-71.
Brief Historical Information on the Gold Prospects at Turnbull Property based on Ontario Geological
Survey (OGS) Mineral Inventory Reports.
Delbridge Mine (DeSantis) Shaft
Feb 27, 2008 (A Wilson) - The gold showing consists of quartz veins in gabbro and granophyre. Grab samples
from a trench blasted by Delbridge Mines Ltd. returned assays up to 0.123 oz/t Au over 3 feet. Grab samples
collected by R. Rousseau in 1997 returned assays up to 7.58 g/t Au and 1820 ppm Mo.
Desantis Prospect (Big Vein)
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Feb 28, 2008 (A Wilson) - The property lies within the Kamiskotia Gabbroic Complex. The quartz vein lies within
a quartz feldspar porphyry, adjacent to a diabase dike. The vein strikes N13°W and dips vertically. It is 170 feet
long and pinches out at the south end. The vein has a maximum width of 4 feet, widening to 5 feet at depth. The
main vein contains pyrite and chalcopyrite in fractures in the quartz. The sulphides are most abundant along the
walls of the vein. Native gold was observed within the mineralized vein. A grab sample collected by the ODM in
1924 returned $94.20 gold (4.71 oz/t gold). A sample collected by Hollinger Gold Mines Ltd. assayed 0.88 oz/t
Au. Sampling from the 125-ft level, south drift returned assays ranging from 0.14 oz to 0.58 oz within the quartz
vein. Assays from pulps of grab samples from the trenches taken in 1983 returned up to 7.58% Cu. Grab samples
collected in 1998 from trenches to the south of the shaft returned assays up to 77.35 g/t gold.
Leduc Occurrence
Feb 29, 2008 (A Wilson) - Three veins are found on the property. They range in length from 50 to 100 feet in
length and from 1-8 feet in width. The veins strike between 260 and 340° and dip 30° N. The veins discontinuously
follow the contact between the ga bbro and the granite. The pyrite occurs in pockets rather than disseminated
throughout the vein. Channel samples from quartz veins on the adjacent claim (P18985) returned value sup to
0.04 oz/t gold over 4 feet. A grab sample collected from the wall rock by the OGS in 1949 returned 0.13 oz/t gold.
Staten Porcupine Shaft
Feb 29, 2008 (A Wilson) - Three veins are found on the property. They range in length from 50 to 100 feet in
length and from 1-8 feet in width. The veins strike between 260 and 340° and dip 30° N. The veins discontinuously
follow the contact between the ga bbro and the granite. The pyrite occurs in pockets rather than disseminated
throughout the vein. Channel samples from quartz veins on the adjacent claim (P18985) returned value sup to
0.04 oz/t gold over 4 feet. A grab sample collected from the wall rock by the OGS in 1949 returned 0.13 oz/t gold.
T. Devanney Property
Feb 28, 2008 (A Wilson) – The occurrence is described as quartz-calcite veins within sheared gabbro. The shear
zone is 6 feet wide, has been traced for 300 ft and dips N68E. There are four known veins on the claim. The veins
range in width from 1-10 feet and average 100 feet in length. One of the veins appears to cross the boundary with
the Staten Porcupine Gold Mines property. Assays up to $7.00 gold were reported. Grab samples collected by
Hollinger Consolidated Gold Mines Ltd. returned assays up to 0.06 oz/t Au.
Qualified Person
All technical information in this press release has been reviewed and approved by Martin Ethier, P.Geo. Mr.
Ethier is a consultant for Melkior and a Qualified Person for the purposes of National Instrument 43-101.
About Melkior Resources
Melkior Resources Inc. is an exploration- stage resource company operating in world- class mining jurisdictions
across Quebec and Ontario. The company is dedicated to advancing a portfolio of high- potential mineral
properties with a primary focus on gold exploration.
Melkior’s flagship projects include the Carscallen Project, the Beschefer East Project, the Genex Project and the
Val-d’Or Project. These projects are strategically located in the Abitibi Greenstone Belt, known for hosting
significant gold and base metal deposits.
ON BEHALF OF THE BOARD
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Jim Deluce, Director
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.
Cautionary Statement Regarding "Forward-Looking" Information
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statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements
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actual results and future events could differ materially from those anticipated in such statements. Except to the extent
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change. Factors that could cause future results to differ materially from those anticipated in these forward- looking
statements include risks associated with the failure to complete the terms of the Agreement, possible accidents and other
risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological
factors, the possibility that the Company may not be able to secure permitting and other governmental clearances
necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds
to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere
with the Company’s business and prospects.; the business and operations of the Company; unprecedented market and
economic risks associated with current unprecedented market and economic circumstances, as well as those risks and
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