Melkior Resources Inc. announced the remaining results from its maiden Melkior-operated 4,194 drill program at the Genex Project. On April 21st, 2022, the Company announced an option agreement for the Genex Project to earn 100% over 7 years from International Explorers & Prospectors Inc. The Genex Project is a polymetallic exploration target with near-term resource potential based on a high density of historical drilling around the former Genex deposit, which is located from surface down to 100 metres in depth. These results continued to demonstrate the wide development possibility of this type of polymetallic and VMS target.

Program highlights include GEN-22-24 intersecting 0.75% Cu, 12.08 g/t silver over 8.45 metres, including 1.48% Cu and 22.03 g/t silver over 2.4 metres. GEN-22-25 intersecting 1.24% Zn over 13.85 metres, within 0.76% Zn over 30.25 metres. These intercepts extend the Genex System up to 200 metres north of the historical mine.

Program Details: These 14 holes total 2,220 metres, with lengths between 75 and 246 metres, located at the margin of the composite grade shell modelled using Leapfrog software. The program tested continuities and satellite lenses of base metal and gold mineralization extending the historical Genex Mine. Additionally, four holes were drilled to test the Gossan Target defined by IP chargeability anomalies.

The Gossan target is located about 600 metres northeast of Genex, identified from a thick layer of rusty sand mixed with quartz fragments and identified during previous drilling operations. Genex Northwest Extension: A series of five holes (GEN-22-17, 18, 23, 24, 25) were drilled on a staggered section following a north-northwest (N330deg) section, up to 200 metres away from the Genex Mine. The objective was to assess a sequence of parallel northeast IP chargeability anomalies, which extend for about 300 metres on both sides of the historical Genex area.

Additional investigation is required to confirm the relationship between the Genex historical deposit and the northwest target. This target is based on a compilation of historical drillholes that revealed a concentration of gold and copper anomalies at an average vertical depth of 100 meters, within a formation consisting of felsic, tuffaceous to sedimentary layers in contact with mafic intrusions. The north- northwest drilling strategy aimed to intersect geophysical anomalies at a perpendicular angle.

Holes GEN-22-24 and GEN-22-25 encountered substantial mineralized intervals within trends situated approximately 200 meters northwest of the Genex infrastructure. These intervals may be associated with a succession of sulfide stringers occurring at intervals of 10 to 30 metres. Hole GEN-22-24 yielded the most significant result, with values of 0.75% Cu and 12.08 g/t Ag over 8.45 meters.

This includes a higher-grade section measuring 2.4 meters, returning values of 1.48% Cu, 22.03 g/t Ag, and 0.014% Co. Additionally, further down the hole, there is a zinc-enriched interval measuring 11.3 meters, with a grade of 0.93% Zn. The copper mineralization, resembling the Genex system, is hosted in a strong chlorite alteration.

The zinc mineralization is associated with pyrite in stringers, occurring alongside a dominant sericite alteration that surrounds the chlorite zone. The entire zoning is constrained in the same vesicular andesitic flow. Hole GEN-22-25 intersected a significant mineralized interval of 1.24% Zn over 13.85 meters, which is part of a broader mineralized envelope characterized by lower grades.

The mineralization is observed as a cluster of replacements, with pyrite occurring within the porosity of the andesite flow. In addition, there are stringer veins hosting the zinc mineralization, situated within layers exhibiting strong interlayered sericite and chlorite alteration. Genex Trend: Hole GEN-22-14 was drilled longitudinally inside the Genex historical trend following a 330° azimuth to test the potential intersection of northeast-oriented mineralized structures between Genex Zones C and A. Notably, a repeated occurrence of stringers and breccia, ranging from 1 to 5 meters in thickness, was observed down to a vertical depth of 80 meters.

The highlight intercept was 0.46 g/t gold, 0.93% Zn over 5 meters. GEN-22-14 helped fill the gap between historical zones "A", "H", "C" by highlighting wide low-grade disseminated mineralization around the historical high-grade lenses. Holes GEN-22-17 and GEN-22-18 were drilled perpendicular to the southwest extension of the shaft area, using a N330° azimuth, positioned between 50 and 100 metres from historical underground workings.

GEN- 22-17 intersected the direct up-dip continuity of the southwest extension with a chlorite-hosted sulfide stringer yielding 0.56% Cu over 5.7 metres between 15 to 21.4 metres. Additionally, minor silver content was observed, along with sporadic presence of gold and cobalt values, reaching up to 0.3 g/t Au and 0.03% Co, respectively. At the end of GEN-22-18 a new mineralized structure was identified following the down dip extension to the west of the Genex system.

The result of 0.58% Cu, 0.4 g/t Au over 4.1m takes the form of chalcopyrite rich stringer veins hosted in a chlorite-silica pervasive alteration. Located approximately 200 meters northward, shallow holes GEN-22-19, GEN-22-20, and GEN-22-22 were drilled to explore targets near the historical C Zone. Hole GEN-22-19 was positioned along the strike immediately south of the C Zone underground development, while the other two holes targeted the footwall of the zone.