Melkior Provides Report on Future Expectations

2017-10-05 / @thenewswire

(TheNewswire)

Timmins, Ontario / TheNewswire / October 5, 2017 - Melkior Resources Inc. ("Melkior" or the "Company") is pleased to provide a summary of the Company's achievements on its properties in 2017 and the goals the Company hopes to accomplish over the next year.

Timmins

1.Soil samples submitted, evaluated and reported;
2.Assays results from drilling pending;
3.Next phase drilling;
4.Acquire additional strategic claims.

Timmins area projects include: Carscallen, Big Marsh, Bristol and Sewell.

Carscallen: The 2017 Exploration plan has been initiated. A significant majority of the core samples submitted for analysis are outstanding. The drill program has been paused to await assays. Upon receipt of analytical data and its evaluation, it is anticipated that the 2017 Exploration Plan will be re-engaged.

A significant number of soil samples from Carscallen were taken in August 2017. These samples will be submitted for trace element analysis and the subsequent evaluation used to guide additional surface work this year. It is hoped that these results, in addition to follow-up ground work, will generate additional drill targets.

Big Marsh: The Big Marsh Project requires a significant amount of assessment work to maintain the group in good standing. Several options are currently being considered to keep the claim group in good standing. While no definite exploration commitments have been made, there is no current plan to let these claims lapse.

Bristol: Soil sampling program has been completed over a chargeability anomaly on the Bristol claim group. Samples will be analysed for trace elements and these results evaluated. Based on the analytical results, additional avenues of exploration will be assessed. Expenditures on this program will maintain the claim group in good standing for several years when the assessment report is filed in late 2017.

Sewell: This is a recent addition to the Timmins project group. While Sewell is not on the forefront of our exploration plans, its exploration potential is being assessed prior to budgetary commitment.

Urban Quebec (map link http://www.melkior.com/maseres-gold-project/assay-results/)

1.Surface samples submitted, evaluated and reported;
2.Airborne of complete property;
3.Exploration permits followed by drilling.

In the summer of 2017, a test grid of soil sampling was undertaken and samples submitted for trace analysis. The soil samples have recently been received and are being evaluated. It is anticipated that the success of this exploration method in this area will lead to undertaking a helicopter borne electromagnetic survey over the entire claim group. The detailed geophysical information is anticipated to generate an additional program of soil sampling, summer 2018. The goal is to generate high quality drill targets and to catapult this embryonic project to the drill stage.

White Lake Project - Hemlo Ontario

1.Surface sample submitted, evaluated and reported;
2.Airborne of complete property;
3.Exploration permits followed by drilling.

A field crew is completing the acquisition of a significant soil sampling program over a portion of the White Lake project. These samples will be submitted for trace analysis. The work will be submitted for assessment credits to maintain the claim group in good standing. The area of the survey historically hosted several anomalous gold in soil trends. Based on the evaluation of the analytical results a progressive exploration program will be planned and implemented.

Other

Sell or joint venture all other non-core properties: Melkior is within a period of re-focus, re-branding and rejuvenation. A conscious focus is being maintained on three areas: Timmins, Urban-Barry and Hemlo. All other assets at the current time are being considered for sale or joint venture.

New Website: A fresh online rebrand is in the works with the development of a new website with the addition to a more comprehensive social media strategy. The new website will reflect the new direction that management has recently taken with new content and design. The website will be modernized to be more user-friendly on mobile devices with addition to the desktop.

New Corporate Presentation: After the new website launch, we will be providing investors with a new corporate presentation that reflects our new rebranding strategy and outlook that solidifies the direction the Company is planning.

ON BEHALF OF THE BOARD

Keith James Deluce, CEO

For more information, please contact:

Melkior Resources Inc.

E-mail: info@melkior.com

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.

This press release contains "forward-looking information" that is based on Melkior's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Melkior's exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Melkior's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Melkior disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.