Melior Acknowledges Announcement of Unsolicited Insider Bid by Pala Investment Holdings Limited

TORONTO, ONTARIO -- (Marketwire) -- 09/24/12 -- Melior Resources Inc. ("Melior") (TSX VENTURE: MLR) acknowledges that Pala Investments Limited ("Pala"), the holder of approximately 44% of Melior's outstanding common shares, has announced its intention to make an unsolicited all-cash offer for all of the issued and outstanding shares of Melior not already owned by Pala.

Melior has formed a Special Committee of its Board of Directors, consisting of Robert Dietrich. The Special Committee is in the process of reviewing and evaluating the announcement with its financial and legal advisors and will communicate further with shareholders in accordance with applicable securities laws. Melior recommends that shareholders take no action until shareholders have received further communications from Melior.

The Special Committee has retained Bennett Jones LLP as its legal advisor and Crosbie & Company Inc. to provide a formal valuation.

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.

Contacts:

Melior Resources Inc.

Charles Entrekin

Chairman and Chief Executive Officer

416-644-1217


Melior Resources Inc.

Rishi Tibriwal

Chief Financial Officer

416-644-1217