Melkior Resources Inc. announced results from seven holes in its maiden Melkior-operated 4,194-metre 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 potential of this type of polymetallic and VMS target.

Program highlights include GEN-22-12, intersecting 3.35% Cu, 0.46g/t Au and 9.6 g/t Ag over 6.0 metres, possibly extending the Genex Shaft Zone to the south. GEN-22-07 intercepted 27.3 metres of zinc-rich mineralization, including 1.11% Zn over 8.1 metres extending the zone to the southwest. Program Details: These 7 holes total 980 metres, with lengths between 75 and 218 metres, located at the margin of the composite grade shell modelled using Leapfrog software for technical information).

The program tested continuities and satellite lenses of base metals and gold mineralization around the historical Genex Mine. Genex South and Southwest Extension: A series of five holes were drilled to cover the possible southward continuity of the Genex system using 50 metres spacing drilled following northwest or southwest azimuths to crosscut a known geophysical conductor. The drill grid covered a target strike length of about 200 metres.

The Company made a new VMS (volcanogenic massive sulfide) lens discovery in hole GEN-22-12 possibly extending the zone to the south. The new mineralization consists of massive chalcopyrite-pyrite lenses hosted by volcanic tuffs from 106 to 117.5 metres. A volcanic contact at 33 metres marks a clear change from sericite to chlorite contact alteration.

The copper mineralized interval of 3.35% over 6.1 metres is associated with gold (0.46 g/t), cobalt (0.025%,) with minor silver (9.6 g/t). GEN-22-07 intersected close to the surface a sphalerite stringer zone hosted in polygenic breccia about 70 metres westward and quasi-along strike with hole GEN-22-12. The best-mineralized interval intercepted 1.1% zinc over 8.1 metres from 50.2 to 58.3 metres with anomalous gold at 0.3 g/t. The alteration system associated is heterogenous with moderate carbonate throughout the section.

The best zinc grades with anomalous gold are hosted within a strong sericite overprint. GEN-22-08 and GEN-22-09 cut the same carbonate altered and locally brecciated andesitic flow apart from having a metric felsic marker intercepted, respectively at 79.65m and 95.8 metres. A metric copper-silver grade of 0.84% Cu and 12.8 g/t Ag was obtained from hole GEN-22-08 in this environment.