Melkior Resources Inc. announced a further update from its Summer Surface Program at Genex, focused on testing surface extensions of the historical Genex deposit, currently under option from International Explorers and Prospectors Inc. The exploration team's diligent efforts in covering extensive ground and utilizing Beepmat (Instrumentation GDD) technology has led to the discovery of two new significant chalcopyrite conductive horizons potentially expanding the overall Genex polymetallic footprint up to 125 metres to the south and 300 metres to the north. Preliminary results validate the IP anomaly interpretations and will help to expand additional exploration targets to the northeast. The mineralization observed at the discovery site corresponded to dense chalcopyrite stringers ranging from a few centimetres up to 15 centimetres and hosted in a chloritized siliceous volcanic rock.

The first results obtained from the Resonant discovery returned 6.55 % copper, 0.1% cobalt, 1.55 g/t gold and 11.7 g/t silver (090624). The mineralized area was subsequently excavated, creating an observation window of approximately 10 metres by 10 metres so that numerous channels could be cut, allowing for a better understanding of the mineralization and its relationship to that of the historical Genex deposit. A second new chalcopyrite horizon, this time located over 300 metres to the north of the former Genex deposit, returned 1.05% copper, 0.81 g/t gold and 18 g/t Silver (090912).

These two new discoveries expand the overall footprint of the Genex polymetallic system to over 650 metres (north-south) in comparison to its historical footprint of 250 metres. Overall, an area of 2 sq/km was covered from Acanda Lake extending to the south, including the Genex deposit. Despite the abundance of anthropic features and blasted material, numerous outcrop samples taken can be considered as new sulfide occurrences in the volcanic sequence.

From the 121 samples taken, 81 are from outcrops, 34 from glacial boulders and 6 from inferred blasted material from historical exploration. Beepmat Sampling Highlights: 10 rock grab samples yielded greater than 0.1% copper, with 5 samples above 1.0%, Sample 090624 assayed 6.5% copper, 1.55 g/t gold & 11.7g/t silver, Sample 090656 assayed 2.6% copper, 0.13 g/t gold & 8.0g/t silver, 5 rock grab samples yielded greater than 0.2 g/t gold, with 2 samples above 1.0 g/t, Sample 090995 assayed 0.15% copper, 1.28 g/t gold & 13.0g/t silver. The new samples collected from this program aim not only to expand but also to enhance the understanding of the complex geological structure and provide invaluable insight into the forthcoming drill program.

In addition, the Company believes that the environment is favorable for the discovery of massive sulfides lenses related to a VMS deposit and ongoing efforts will continue to be concentrated on gaining more knowledge from the recently completed work and the historical data available. Further to the successful beepmat program, the teams also completed a series of trenching and channel sampling concentrated around the newly discovered Resonant showing, and along the north-east conductors where initial sampling indicated the presence of significant mineralization. Sampling results and mapping are currently under revision and validation which will be shared as soon as it's available.

The company are confident that the new geological information and assays to come will significantly enhance drill targeting process and help gain a deeper understanding of the historical Genex Copper System at Surface November 7, 2023.