Melior Moves Closer to Full Production - Goondicum Commissioning and Production RAMP-up Update
NEWS RELEASE
MELIOR MOVES CLOSER TO FULL PRODUCTION -
GOONDICUM COMMISSIONING AND PRODUCTION RAMP-UP UPDATE
Toronto, Ontario, February 14, 2019 – Melior Resources Inc. (TSXV: “MLR”) (“Melior” or the
“Company”) today updated the market about progress at its Goondicum Ilmenite Project.
Commissioning and production ramp-up at Goondicum successfully continues to advance on schedule.
Ilmenite production was 5,238 tonnes in January exceeding our budget forecast. Production of our
secondary product apatite, of 317 tonnes was below forecast. Apatite sales represent around 15% of
forecasted revenue and provides useful margin expansion. Modifications for the apatite circuit are being
implemented and management is confident that apatite production will be brought up to budgeted levels
over the next few months.
Notable to highlight is that initiation of product offtake is on track. The first ilmenite shipment remains
scheduled for Q1 CY2019 and ilmenite haulage to the port from the mine has now commenced.
No Lost Time Incidents were recorded during January and the project has been LTI free since the start
of construction.
Mark McCauley, Melior’s CEO, said, “January saw further welcome progress with production rates of
over 400 tonnes per day of ilmenite which is getting close to levels of our pr ojected steady state of
production. Management remains confident that our clear target for Goondicum to produce 14,000
tonnes of ilmenite and 3,500 tonnes of apatite per month in the second half of CY2019 will be
achieved”.
Project Photos
Photo 1. First load of ilmenite from mine
Photo 2. First load of ilmenite into port storage facility
Photo 3. Aerial shot of processing facility
About Melior
Melior is the owner and operator of the Goondicum ilmenite and apatite mine located in Queensland
Australia. Further details on Melior and the Goondicum 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
Vancouver, British Columbia. Melior is classified as a Tier 1 Mining Issuer under the policies of the
TSX Venture Exchange.
The expectations outlined in this press release regarding the Goondicum mine represent the information
contained in the PEA prepared independently by TZ Minerals International Pty Ltd. for the purposes of
National Instrument 43-101 (“NI 43-101”) and relies in part on inferred resources. As a result, the PEA
is subject to increased uncertainty and technical and economic risks of mine failure and there can be no
assurance that the report’s expectations will be achieved.
The PEA is preliminary in nature and includes Inferred Resources that are considered too speculative
geologically to have the economic considerations applied to them that would enable them to be
categorized as Mineral Reserves, and there is no ce rtainty the PEA will be realized. Shareholders are
strongly encouraged to refer to the complete updated Technical Report prepared in accordance with NI
43-101 in respect of the Goondicum mine, which includes the results of the PEA described in this news
release, which has been filed on SEDAR at www.sedar.com under the Company’s profile on August
30, 2018.
Forward Looking Statements Disclaimer
This press release contains forw ard-looking information within the meaning of applicable securities
laws that reflects the current expectations of management of Melior regarding the production ramp up
of the Goondicum mine. The words “may”, “w ould”, “could”, “should”, “will”, “anticipate”,
“believe”, “plan”, “expect”, “int end”, “estimate”, “aim”, “endeav our”, “project”, “continue”,
“predict”, “potential”, or the negative of these term s or other similar expressions have been used to
identify these forward-looking stat ements and include, but are not limited to statements regarding
anticipated production, timing for first ilmenite shipment and haulage and target production rates.
Forward-looking statements are based upon a number of assumptions and are subject to a number of
known and unknown risks and uncertainties, many of which are beyond management’s control, and
that could cause actual results to differ materially fr om those that are disclosed in or implied by such
forward-looking statements. There can be no assurance that forward-looking information will prove to
be accurate, as actual results and future events could differ materially from those expected or estimated
in such statements. Accordingly, readers should not place undue reliance on forward-looking
information. Risks, assumptions and uncertain ties regarding Melior and the forward looking
information herein are described in its publicly available disclosure documents including the Technical
Report, as filed by Melior on SEDAR (www.sedar.com) except as updated herein. This forward-looking
information represents management’s views as of the date of this press release. While subsequent events
and developments may cause such views to change, Melior does not intend to update this forward-
looking information, except as required by applicable securities laws.
For further information please contact:
MELIOR RESOURCES INC.
Mark McCauley
Chief Executive Officer
+61 7 3233 6300
Investor Relations
Andreas Curkovic Proconsul Capital
+1-416-577-9927
Neither the TSX Venture Exchange nor its Regulation Serv ices Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.