Timmins, Ontario. Melkior Resources Inc. (“Melkior” or the “Company”) is pleased to announce that it has purchased a claim in Bristol Township. The new addition is a single three-unit group claim contiguous with the Bristol Project. The claim group was purchased from an arm’s-length party for a one-time cash payment.
The Bristol Project is located on the boundary of Bristol and Carscallen Townships in close proximity to Melkior’s Big Marsh project, situated 800 meters to the west. The southeastern corner of the Bristol Project abuts Lakeshore to the east and south. Several MNDN MDI mineral occurrences are documented in proximity to the Bristol Project as follows:
| MDI | Easting* | Northing* | Relative Location | Partial Excerpt MDI File |
| MDI42A05NE00084 | 455557 | 5365717 | 400 west | The best assay for a grab sample collected by Alsof Mines Limited returned 0.54 oz/t Au. |
| MDI42A05SE00011 | 455552 | 5366661 | 660 m NW | The occurrence is described as a series of quartz stringers within a quartz porphyry. A grab sample collected by Alsof Mines Limited in 1964 returned 0.08 oz/t gold |
| MDI42A05NE00088 | 455887 | 5366617 | 500m NW | Grab samples collected from trenches by Sylvanite Gold Mines in 1941 returned values up to $68.00 Au. Grab samples collected by Alsof returned values as high as 4.51 oz/t Au. Grab samples collected by R. Mathieu returned assays up to 7.75 oz/t gold and 13.82 oz/t Au. |
| MDI000000000568 | 458046 | 5366609 | 750 m NE | Diamond drilling intersected a sequence of felsic tuffs and mafic metavolcanic flows. Elevated assays of copper are returned from narrow sulphide stringers in sericitized rhyolite. A 1 m section of drill core retuned 0.34% Cu and 970 ppm Zn. |
| MDI42A05NE00118 | 458117 | 5366353 | 650 m NE | Grab samples collected by Sylvanite returned assays of $20.80 Au over 2 ft and $42.40 Au over 2.5 ft. |
*NAD 83 Zone 17
The northern area of Carscallen and Bristol Townships has not seen extensive exploration work. A VTEM survey by Melkior in 2010 identified a VTEM Target within the Bristol project area that will be the subject of surficial exploration work, potentially as early as spring – summer 2017.
Jim Deluce, CEO of Melkior has expressed, “This claim acquisition is consistent with Melkior’s goal of building on our existing assets and positioning ourselves for future success. The claim unit has potential exploration value and was acquired for reasonable cost. Melkior is committed to adding value for the shareholders.”
Melkior remains committed to implementing an exploration program this spring on its flag ship Carscallen Project. The drilling contract has been awarded, pending the permitting process, to begin in the later part of May 2017.
Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is the Exploration Manager of the Company and is Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Keith James Deluce, CEO
For more information, please contact:
Melkior Resources Inc.
E-mail: [email protected]
Tel: 705-267-4000
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.