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Share Consolidation Update

Corporate Actions

NEWS RELEASE

SHARE CONSOLIDATION UPDATE

Toronto, Ontario, June 15, 2018 – Melior Resources Inc. (TSXV: “MLR”) (“Melior” or the “Company”) is

pleased to announce that today, the Company has given effect to the previously announced consolidation

(the "Consolidation”) of the common shares in the capital of the Company (the “Common Shares”) at a

ratio of ten pre-Consolidation Common Shares (the “Existing Shares”) for one post-Consolidation

Common Share (the “Consolidated Shares”). The trading of the Common Shares will commence on a

post-Consolidation basis on the TSX Venture Exchange (the "TSXV”) at the opening of markets today.

The Consolidation has been approved by the TSXV, which issued its bulletin on the Consolidation on

June 13, 2018. Following the Consolidation, the Company will have approximately 28,979,978 Common

Shares issued and outstanding.

A letter of transmittal was mailed to registered shareholders on June 4, 2018 providing instructions to

surrender their existing share certificates for replacement share certificates representing the Consolidated

Shares to which they are entitled. Until surrendered, each existing share certificate will be deemed, for all

purposes, to represent the number of Common Shares to which the holder thereof is entitled as a result

of the Consolidation. A copy of the letter of transmittal will be available on the Company’s SEDAR profile at

www.sedar.com.

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

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[email protected]

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.