Melkior Sells Launay Property to Beaufield

2017-07-17 / @thenewswire

(TheNewswire)

Timmins, Ontario / TheNewswire / July 17, 2017 - Melkior Resources Inc. ("Melkior") is pleased to announce that it has entered into an agreement (the "Agreement") with Beaufield Resources Corp. (TSX-V: BFD) ("Beaufield"), whereby Beaufield will purchase Melkior's 50% interest in the Launay property (the "Property"), thereby becoming a 100% owner of the Property. The Property is located in the Launay Township, in the Abitibi Greenstone Belt, Quebec.

Under the terms of the agreement, Beaufield will pay $125,000 in cash and issue 2,500,000 common shares to Melkior upon acceptance of the transaction by the TSX Venture Exchange. Melkior will retain a 1.5% net smelter returns royalty on the Property, one-half of which may be purchased by Beaufield for $750,000.

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.