MKR.V · 2018-01-31 12:00:00

Melkior Urban-Barry Airborne Survey Underway

Exploration Programs

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

January 31, 2018 Trading Symbol: MKR

TSX Venture Exchange

Timmins, Ontario. Melkior Resources Inc. (“ Melkior”) is pleased to announce the

commencement of the 2,170-line kilometer GEOTECH VTEM plus time-domain helicopter borne

magnetometer and EM survey. The survey will cover the entire Ma seres Project with a 100 m line

spacing. It is estimated that two weeks of surveying will be required to complete the survey. Melkior

will be receiving preliminary survey data during the survey for internal review. Digital preliminary

maps will be delivered on survey completion, final maps and reporting will be delivered about two

months after survey completion.

Only the northeastern corner of the Maseres Project has ever ha d an electromagnetic survey flown

over it. The magnetic and EM trends delineated in historic surv eys have been demonstrated to be

co-incident with highly favorable multi-element soil sampling results in the A-Horizon. The initial

Melkior soil test grid over the EM trends returned up to: 121 p pb Au; 59 ppm Ag; 93 ppm Cu; 78

ppm Zn; 30 ppm Pb. The GEOTECH survey will define these trends through the Maseres project

with an accuracy sufficient for defining drill collar locations.

The Maseres Project is located about 14 km southwest of the Osisko Black Dog Deposit. The Black

Dog Project has been reported by Osisko to be a gold-silver-copper discovery in a volcanic sequence

coincident with magnetic and electromagnetic anomalies and diss eminated to semi-massive Au-

Ag-Cu bearing sulfides. The Black Dog appears to be on the same magnetic trend as Bonterra

Gladiator Project. One interpretation of magnetic geophysical data suggest that this magnetic trend

is folded and continues through Melkior’s Maseres Project. Mine ralized boulders have been

historically identified co-incident within this formational conductor and reported to contain 11 ppm

gold and 2% copper (NR April 13, 2017).

A-Horizon soil sampling will be implemented spring 2018 on rece ipt and evaluation of the

GEOTECH VTEM survey data.

Jim Deluce, CEO of Melkior remarks, “The bulk of the Maseres project is located in virgin territory,

never having seen an airborne EM survey. Our 2017 soil survey results were tremendously exciting.

W e a r e g o i n g t o u s e t h e G E O T E C H V T E M p l u s t i m e - d o m a i n s y s t e m t o extend the trends and

follow these up with further detailed soil sampling.”

Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is the

Exploration Manager of the Company and is Qualified Person as d efined by National Instrument

43-101.

ON BEHALF OF THE BOARD

Keith James Deluce, CEO

For more information, please contact:

Melkior Resources Inc.

Tel: 705-267-4000

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.