Melkior Resources Inc. announced results from 6,283 meters of drilling at the Carscallen Gold Project located approximately 25 kilometres southwest of Timmins Ontario. Program Highlights: The Carscallen Gold Project lies within the township of Carscallen, approximately 25 kilometers southwest of Timmins, Ontario and borders the Genex Project which Melkior has under option from International Explorers & Prospectors Inc. It is comprised of 344 claim units covering 60 square kilometers with 100% ownership by Melkior. The Phase 3 drill program consisted of 6,283 meters.

In addition, a strong zone of mineralization between 515 and 525 meters was intersected with sulphide-enriched quartz-carbonate veins. Assays from this zone include 8.49 gpt Au over 0.5 meters, 8.10 gpt Au over 0. 5 meters and 8.49 gpt Au Over 0.5 meters. CAR-22-28 was collared approximately 100 meters south-west of CAR-22-25, Following up on the encouraging results.

Significant intersects include 4.93 gpt Au over 0.4 meters, 14.5 gpt Au over 0.6 meters. CAR-22-31, collared approximately 100 meters southwest of drill hole CAR-22-28 on the southern portion of the Shenkman Zone, intersected 16.8 gpt Au over 1.5 meters from 395 to 396.5 meters, including 49.6 gpt Au over 0.7 meters. CAR-22-27 was drilled approximately 450 meters north of the Zam Zam Zone and.

intercepted 8.29 gpt Au over 0.3 meters within a 30 cm quartz vein hosting elevated pyrrhotite, pyrite and minor chalcopyrite. The new intercept is also 100 meters north and along the projected strike from a similar 30 cm quartz vein seen in CAR-21-19 that assayed 5.85 gpt Au over 1. 5 meters. This has significant implications for exploration north of the Zam Zam Zone as these intercepts are situated where no significant drilling has been completed to the north and at depth.

CAR-22-29 was collared to target an elevated IP chargeability response on the 1010 North Zone. This drill hole encountered two significant sulphide veins at 100.2 meters which returned 2.29 gpt Au over 0.7 meters, and at 194.5 meters which returned 8.19 gpt Au over 1.5 meters, including 19.5 gpt Au over 0.6 meters. Both veins occurred within carbonatized granodiorites and are described as significant clusters of coarse subhedral pyrite.

This is one of the deepest gold intercepts in the 1010 North zone and suggests continuity downdip of gold-bearing structures at depth. Newly Targeted High-Grade Corridor: A new interpretation was modelled with Datamine software to outline the higher grade (>25g/t) gold veins to produce a grade shell for drill targeting. Preliminary modelling identified a high-grade corridor trending 40 degrees northeast, with an approximate width of 75 meters and a strike length of 375 meters.

The high-grade corridor is located in the Shenkman Zone and was targeted in holes 25, 28, 31 and 32 using a 310-drill azimuth. This strategy proved successful with encouraging intercepts in drill holes CAR-22-25, CAR-22-28, and CAR-22-31. CAR-22-031 was successful in expanding this corridor to the southwest intercepting 49.6 gpt Au over 0.5 meters.

Further drilling is needed to refine this model.