Melior Provides Positive Update About Progress at the Goondicum Mine Project

TORONTO, Aug. 03, 2018 (GLOBE NEWSWIRE) -- Melior Resources Inc. (TSXV: “MLR”) (“Melior” or the “Company”) today updated the market about the progress being made at its Goondicum Ilmenite Project towards the commencement of production.

Project Completion Status newly installed lime storage silo installation of the ROM drive over unit progressing installation of the WHIMS wash water tank and pump WCP roof removed for equipment relocation

Progress as at 28th July

The construction project is on budget and on schedule for a start of production in November 2018.

The overall project, including procurement and construction activity, is 44% complete with 5,500 manhours per month, equivalent to 27 full time personnel, in place and ready to deliver the remainder of the project over the next three months. No lost time safety or environmental incidents have been recorded to date.

Mark McCauley, Melior CEO, said, “We are very pleased by the steady and efficient performance of the Goondicum team and all contractors.  Mine construction is always subject to unpredictability, so it is pleasing to see that we are on track to meet our target.”

Figure One, below, shows the estimated progress of each of the individual activities followed by photographs of work completed.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b7b22d58-e378-4d5e-8212-6a754bdc97eb

The next project update will be provided in early October.

About Melior

Melior is the owner and operator of the Goondicum ilmenite and apatite mine strategically 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 Toronto, Ontario. Melior is classified as a Tier 1 Mining Issuer under the policies of the TSX-V.

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
mark.mccauley@meliorresources.com

Investor Relations
Andreas Curkovic
Proconsul Capital
+1-416-577-9927

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.

Photos accompanying this announcement are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/21ae7890-63be-49d9-b193-91333e121e4a

http://www.globenewswire.com/NewsRoom/AttachmentNg/f2790203-d738-4ef3-b996-8947c7e02cf5

http://www.globenewswire.com/NewsRoom/AttachmentNg/800701d5-6108-428f-8ea4-7990df7bfca7

http://www.globenewswire.com/NewsRoom/AttachmentNg/3cdbfc73-0b0a-40a8-b810-e0addb998b52