Melior Announces Restart of the Goondicum Mine
Melior Announces Restart of the Goondicum Mine
TORONTO, April 19, 2018 -- Melior Resources Inc. (TSX-V:MLR) (“ Melior” or the “Company”) is pleased to announce the
restart of the Goondicum Mine following the closing of its US$5.0M loan agreement with Hainan Wensheng High Tech
Materials Co. Ltd. and its subsequent receipt of the first US$2.5M drawdown pursuant thereof, in addition to the closing of the
previously announced US$7.25M debt facility with Pala Investments Limited.
Melior has commenced construction at Goondicum and is targeting to start commissioning of the operation in November 2018
with production ramping up thereafter.
Goondicum Mine Restart Decision
The Goondicum mine does not have mineral reserves under NI 43-101. While the restart of production at the Goondicum mine
in the absence of at least a pre-feasibility study demonstrating economic and technical viability presents increased uncertainty
and economic and technical risks, the Company believes that these risks are mitigated by, among other things, the work
conducted in the Company’s November 2016 PEA, as well as the mine’s past history of production in 2007-2008 and 2012-
2015.
About Melior
Melior is the owner and operator of the Goondicum ilmenite mine, a past-producing ilmenite and apatite mine strategically
located in Queensland Australia. Further details on Melior and the Goondicum ilmenite mine can be found at
www.meliorresources.com and regulatory filings are available on SEDAR.
Melior is incorporated under the provisions of the Business Corporations Act (British Columbia) and has a registered office in
Toronto, Ontario. Melior is classified as a Tier 1 Mining Issuer under the policies of the TSX Venture Exchange.
Forward Looking Statements Disclaimer
Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. Such
statements can typically be identified by terminology such as ‘‘may’’, ‘‘will’’, ‘‘could’’, ‘‘should’’, ‘‘expect’’, ‘‘plan’’, ‘‘anticipate’’,
‘‘believe’’, ‘‘intend’’, ‘‘possible’’, ‘‘continue’’, “objective” or other similar expressions concerning matters that are not historical
facts. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ
materially from those expressed or implied in such statements. Melior does not undertake to update any forward-looking
statements; such statements speak only as at the date made.
For further information please contact:
MELIOR RESOURCES INC.
Mark McCauley
Chief Executive Officer
+61 7 3233 6300
Neither the 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.