MKR:CC - Melkior Resources Expands its Carscallen Project in Timmins Camp

(TheNewswire)

Timmins, Ontario – TheNewswire – February 28, 2025- Melkior Resources Inc. (“Melkior” or the“ Company ”) (TSXV: MKR) (OTC: MKRIF) is pleased to announce that hasentered into an agreement (the “ Agreement ”) withDouglas Lalonde and Gilles Allaire (the “ Vendors ”), arm’slength parties to Melkior Resources, to acquire a gold explorationproperty in Timmins, Ontario. Melkior will acquire a 100% interest inthe Turnbull Property in the Timmins, Ontario which adjoins thecompany property to the northwest, adding an additional 76 mineralclaims to the Company's 376 mining claims land package.

Figure 1: Carscallen ProjectOverview:

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Pursuant to the Agreement, Melkior Resources will paycash of $10,000; 300,000 common shares of the Company (the“Shares”); and provide a 2% Net Smelter Royalty (“NSR”).Melkior has the exclusive right to purchase at any time 1% of the NSRfor $1,000,000 leaving the Vendor with a one percent (1%) NSRRoyalty.

The Shares to be issued pursuant to the Agreement willbe subject to a hold period of four months and a day from the date ofissuance. The Agreement is subject to TSX Venture Exchangeapproval.

The new land package (Property 1 & 2) is located onthe northwest boundary of the Carscallen Property and lies along a 4km NNW-SSE trending mineralized corridor which host multiple goldbearing zones including the DeSantis, Big Vein, Leduc, Staten and DCand Devanney, further enhancing the exploration upside on theproperty.

Company director, Jim Deluce commented: “We are verypleased to acquire these additional gold properties under favorableterms. These areas increase the Company’s exploration portfolio anddiscovery potential for additional gold mineralization within theCarscallen Gold Property in Ontario. Our next steps would involveestablishing a property wide airborne Electromagnetic MT SurveyProgram to define priority areas for surface exploration anddrilling”.

Table 1: Turnbull Gold ProspectHighlights

Surface samples are considered representative of thein-situ mineralization samples. At this stage true widths ofmineralization are not known. Grab samples are selective by nature andare unlikely to represent average grades on the property.

SOURCE OF INFORMATION . Historical Grab Samples based on OntarioAssessment Database File - Gold Rush Project Assessment Report Prospecting, Geophysics,Stripping, till sampling & Drilling by Sanatana Resources Inc. by Kevin Kivi and BuddyDoyle dated February 2022 ,Pages 64-71 .

Brief Historical Information on theGold Prospects at Turnbull Property based on Ontario Geological Survey(OGS) Mineral Inventory Reports.

Delbridge Mine (DeSantis)Shaft

Feb 27, 2008 (A Wilson) - The gold showing consists ofquartz veins in gabbro and granophyre. Grab samples from a trenchblasted by Delbridge Mines Ltd. returned assays up to 0.123 oz/t Auover 3 feet. Grab samples collected by R. Rousseau in 1997 returnedassays up to 7.58 g/t Au and 1820 ppm Mo.

Desantis Prospect (Big Vein)

Feb 28, 2008 (A Wilson) - The property lies within theKamiskotia Gabbroic Complex. The quartz vein lies within a quartzfeldspar porphyry, adjacent to a diabase dike. The vein strikes N13°Wand dips vertically. It is 170 feet long and pinches out at the southend. The vein has a maximum width of 4 feet, widening to 5 feet atdepth. The main vein contains pyrite and chalcopyrite in fractures inthe quartz. The sulphides are most abundant along the walls of thevein. Native gold was observed within the mineralized vein. A grabsample collected by the ODM in 1924 returned $94.20 gold (4.71 oz/tgold). A sample collected by Hollinger Gold Mines Ltd. assayed 0.88oz/t Au. Sampling from the 125-ft level, south drift returned assaysranging from 0.14 oz to 0.58 oz within the quartz vein. Assays frompulps of grab samples from the trenches taken in 1983 returned up to7.58% Cu. Grab samples collected in 1998 from trenches to the south ofthe shaft returned assays up to 77.35 g/t gold.

Leduc Occurrence

Feb 29, 2008 (A Wilson) - Three veins are found on theproperty. They range in length from 50 to 100 feet in length and from1-8 feet in width. The veins strike between 260 and 340° and dip 30°N. The veins discontinuously follow the contactbetween the gabbro and the granite. The pyrite occurs in pocketsrather than disseminated throughout the vein. Channel samples fromquartz veins on the adjacent claim (P18985) returned value sup to 0.04oz/t gold over 4 feet. A grab sample collected from the wall rock bythe OGS in 1949 returned 0.13 oz/t gold.

Staten Porcupine Shaft

Feb 29, 2008 (A Wilson) - Three veins are found on theproperty. They range in length from 50 to 100 feet in length and from1-8 feet in width. The veins strike between 260 and 340° and dip 30°N. The veins discontinuously follow the contact between the gabbro andthe granite. The pyrite occurs in pockets rather than disseminatedthroughout the vein. Channel samples from quartz veins on the adjacentclaim (P18985) returned value sup to 0.04 oz/t gold over 4 feet. Agrab sample collected from the wall rock by the OGS in 1949 returned0.13 oz/t gold.

T. Devanney Property

Feb 28, 2008 (A Wilson) – The occurrence is describedas quartz-calcite veins within sheared gabbro. The shear zone is 6feet wide, has been traced for 300 ft and dips N68E. There are fourknown veins on the claim.  The veins range in width from 1-10 feetand average 100 feet in length. One of the veins appears to cross theboundary with the Staten Porcupine Gold Mines property. Assays up to$7.00 gold were reported. Grab samples collected by HollingerConsolidated Gold Mines Ltd. returned assays up to 0.06 oz/tAu.

Qualified Person

All technical information in this press release hasbeen reviewed and approved by Martin Ethier, P.Geo.  Mr. Ethier is aconsultant for Melkior and a Qualified Person for the purposes ofNational Instrument 43-101.

About Melkior Resources

Melkior Resources Inc. is an exploration-stage resourcecompany operating in world-class mining jurisdictions across Quebecand Ontario. The company is dedicated to advancing a portfolio ofhigh-potential mineral properties with a primary focus on goldexploration.

Melkior’s flagship projects include the CarscallenProject, the Beschefer East Project, the Genex Project and theVal-d’Or Project. These projects are strategically located in theAbitibi Greenstone Belt, known for hosting significant gold and basemetal deposits.

ON BEHALF OF THE BOARD

Jim Deluce, Director

For more information, please contact:

Melkior Resources Inc.

E-mail: info@melkior.com

Tel: 226-271-5170

The reader is invited to visit Melkior's web site www.melkior.com .

Cautionary StatementRegarding "Forward-Looking" Information

This news releasecontains statements that constitute “forward-looking information”(collectively, “forward-looking statements”) within the meaning ofthe applicable Canadian securities legislation.  All statements,other than statements of historical fact, are forward-lookingstatements and are based on expectations, estimates and projections asat the date of this news release, and include statements with respectto the anticipated timing of entry into the Definitive Agreement andclosing and payments thereunder. Any statement that discussespredictions, expectations, beliefs, plans, projections, objectives,assumptions, future events or performance (often but not always usingphrases such as “expects”, or “does not expect”, “isexpected”, “anticipates” or “does not anticipate”,“plans”, “budget”, “scheduled”, “forecasts”,“estimates”, “believes” or “intends” or variations of suchwords and phrases or stating that certain actions, events or results“may” or “could”, “would”, “might” or “will” betaken to occur or be achieved) are not statements of historical factand may be forward-looking statements.  Consequently, there can be noassurances that such statements will prove to be accurate and actualresults and future events could differ materially from thoseanticipated in such statements. Except to the extent required byapplicable securities laws and the policies of the TSX VentureExchange, the Company undertakes no obligation to update theseforward-looking statements if management’s beliefs, estimates oropinions, or other factors, should change. Factors that could causefuture results to differ materially from those anticipated in theseforward-looking statements include risks associated with the failureto complete the terms of the Agreement, possible accidents and otherrisks associated with mineral exploration operations, the risk thatthe Company will encounter unanticipated geological factors, thepossibility that the Company may not be able to secure permitting andother governmental clearances necessary to carry out the Company’sexploration plans, the risk that the Company will not be able to raisesufficient funds to carry out its business plans, and the risk ofpolitical uncertainties and regulatory or legal changes that mightinterfere with the Company’s business and prospects.; the businessand operations of the Company; unprecedented market and economic risksassociated with current unprecedented market and economiccircumstances, as well as those risks and uncertainties identified andreported in the Company’s public filings under its SEDAR profile atwww.sedar.com. Accordingly, readers should not place undue reliance onthe forward-looking statements and information contained in this newsrelease. Except as required by law, the Company disclaims anyintention and assumes no obligation to update or revise anyforward-looking statements to reflect actual results, whether becauseof new information, future events, changes in assumptions or changesin factors affecting such forward-looking statements.

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.

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