Melkior - Maseres Project Update

Soil sampling over priority areas in Maseres is well underway, sample collection is anticipated to be completed by mid-September. Samples are being submitted for trace multi-element analysis (ALS Method AuMe-TL43). Soil samples will be submitted in batches, the first batch has already been submitted, analytical turnaround times are estimated to be 4-6 weeks. Complete results from the 5,000 A-Horizon soil sample program are anticipated to be available by the end of October.

Limited geological reconnaissance of the Maseres Project has been conducted to provide some context for those areas that host the priority VTEM EM anomaly trends. Consistent with observations made in 2017 glacial fluvial deposits are abundant and bedrock outcrop is limited. Some of the priority EM trends were traversed where feasible, although access is locally difficult. It is anticipated that EM trends, if they are mineralized, could be softer than the surrounding rock and may have been scoured into relief by glaciation, exacerbating the difficulty in ground truthing the EM anomalies.

The reconnaissance observations generally reinforce the geological setting envisioned and proposed by Melkior in previous news releases. The bedrock observed on the Maseres Project are considered to be consistent with a moderately metamorphosed Archean greenstone belt. The environment as such would have been subaqueous deposition of mafic and felsic volcanic rocks of extrusive, volcano-sedimentary and chemical sedimentary origin. Chert beds have been observed in roadside bedrock exposure south of the area covered by the VTEM survey.

Metamorphic processes (heat and or pressure) have modified the mineralogical assemblages and thus the appearance of the rocks. Field observations suggest that heat has played a more dominant role than pressure in the metamorphic process, based primarily on the ubiquitously low level of deformation observed. While it is clear from outcrop exposure that folding and faulting is present, more often than not what is interpreted to be volcanic stratigraphic layering is preserved, distinct, measurable and presents at first glance a cohesive pattern of orientation and composition.

The geologic data accumulated to date provides some context for the curious ring like magnetic and EM trend located in the central area of the VTEM survey. Initial observations indicate that the EM trend is locally co-incident with a depressed area between an apparent stratigraphic compositional change from felsic to mafic rock. Interpreted stratigraphic information in conjunction with compositional observations suggest that the ring like structure could be the horizontal expression of a gently folded and eroded stratigraphic sequence within in a metamorphosed volcanic package. This interpreted stratigraphic sequence appears to have a cohesive conductive signature and may be associated with a primary volcanic depositional source.

Melkior is currently working on a hypothesis that the EM conductive trends, from northeastern boundary of the Maseres project to the center of the project area, and to the southeast, might be associated with a single folded stratigraphic sequence within a metamorphosed volcanic package.

Field work on the Maseres project is expected to continue through out the summer.

Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is the Exploration Manager of the Company and is Qualified Person as defined by National Instrument 43-101.

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.

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