Corrected: Melkior Announces Promising Grassroots Gold-Base Metal Discovery at Beschefer East

July 17, 2025 – TheNewswire - Timmins, Ontario – Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV: MKR) (OTC: MKRIF) is pleased to announce the results from its six (6) holes for a total of 1,050 metres Winter Drilling Program at the Beschefer East Project in the Northern Abitibi greenstone belt located approximately 90 km west of Matagami and 100 km north of La Sarre, Québec. On June 14th, 2023, the Company entered into an option agreement on the Beschefer East Project to earn 100% over 3 years from SOQUEM Inc (see news release dated June 14, 2023).

Highlights :

• MKR-BE-2024-001 intersected 5.1 g/t gold, 0.96% copper and 0.68% zinc over 0.9 meters and 7.6 g/t gold over 1.3 meters in a new discovery, 

• The drilling successfully confirmed an 800-meter copper-gold mineralized long horizon, initially identified by Induced Polarization (IP) anomalies and supported by copper enrichment in black spruce bark sampling, 

• These initial results will require more targeted drilling to evaluate the expansion potential of this new target and to determine if a broader mineralized source exists. 

Company Director, Jim Deluce commented: "We are thrilled with these initial drill results from Beschefer East, which uncover significant exploration potential in a previously unexplored area. These results validate Melkior’s targeted exploration strategy and mark an important step in unlocking new growth opportunities for the company.”

2025 Winter Drill Program

A six (6) hole winter drill program aggregating to a total of 1,050 metres was completed at Beschefer East Project. The drill targets located on the east to central portion of the property was previously untested by drilling. Each of the six (6) drill holes have a nominal depth of 175 metres.

The drill program targeted a coherent bio-geochemical gold-base metal anomalism that strongly overlaps with ground Induced Polarization (IP) conductors over a broad zone of low -moderate partially disrupted magnetic zones. Drilling has largely intersected altered felsic intrusions, felsic volcanics and minor tuffs from holes BE-24 01 to 04 and hit mafic volcanics on holes BE-24 05 to 06 to the west. The mineralized intersections appear to be localized at or near the contact of mafic and felsic volcanics along a northeast trending structural corridor (i.e., Beschefer Trend).

The 100 metre by 100 metre spaced bio-geochemical, spruce tree bark (MMI) sampling program which collected 1,780 samples has identified five (5) distinct gold-polymetallic anomaly targets with elevated copper, lead and zinc metal concentrations. The recent drilling represents one of the five anomaly areas within the property. These anomalous areas will be reviewed for follow-up work as they are also coincident with geophysical ground IP - EM conductors.  

About the Beschefer East Project

Melkior has entered into an option agreement with SOQUEM Inc in June 2023 on the Beschefer East Project to earn 100% ownership over 3 years from highly prospective yet underexplored region at Selbaie Mining Camp. The Project area comprises of 55 mining claims covering 2,906 hectares and contains significant gold and polymetallic potential and geological similarities to Abitibi Metals’ B26 deposit which hosts 11.3 Mt at 2.13% CuEq and 7.2 Mt at at 2.21% CuEq in the Indicated and Inferred categories, respectively.

The Project shares a border with Abitibi Metals’ Beschefer Project, where historical drilling has identified 55.63 g/t gold over 5.57 metres, including 224 g/t over 1.23 metres within the B14 Gold Zone. Historically, the Project was explored by SOQUEM between 1992 and 2012, building a tight grid of geophysical anomalies, followed by drill testing. Over 300 kilometres of surveyed lines, and 11,200 metres (42 holes) of drilling were completed to date.

Some of the best gold results were obtained from the powerline to the north included Hole 1172-99-30 which yielded multiple mineralized zones from 2 to 5 g/t gold over lengths of 0.5 to 6 metres within a large interval of 70 metres; hole 1172-13-40 intercepted 2.1 g/t gold over 5.4 metres, including 7.9 g/t gold over 0.9 metres. Gold mineralization is hosted in a quartz-carbonate centimetric veins network cross-cutting felsic to the intermediate volcanic rock affected by variable pervasive alteration associated with minor amounts of pyrite. The southern section has gold- base metal mineralization hosted in deformed and carbonate-altered andesite with some anomalous copper zones including 0.26 % Cu over 4.8 metres and 0.24% Cu over 4 metres from holes 1172-98-24 and 1172-99-30, respectively.

Figure 1: Overview of the Beschefer East Property

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Figure 2: Beschefer East on Geology and Bio-geochemical (MMI) Anomaly Map showing locations of known mineralization and gold assay distribution from historical datasets.

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Figure 3: Cross section highlighting the recent drilling assay intercepts from holes BE-2024-01, BE-2024-02 and BE-2024-05 over coincident gold (red) and copper (blue) bio-geochemical gold-polymetallic anomalies.

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Table 1: Highlight drill hole assay intercepts (uncut)

Note 1: The true width of the intervals has not yet been established by drilling.

Table 2: Drill Hole Information

Sample AQ/QC

All drill cores in this drilling campaign are NQ in size. Assays were completed on sawn half-cores, with the second half kept for future reference. The samples were analyzed using standard fire assay procedures with Atomic Absorption (AA) finish at Techni-Lab Abitibi Inc (Actlabs), Ste Germaine, Quebec. Samples yielding a grade higher than 10 g/t Au were analyzed a second time by fire assay with gravimetric finish at the same laboratory. Mineralized zones containing visible gold were analyzed with metallic sieve procedure. Standard reference materials, blank samples and duplicates were inserted prior to shipment for quality assurance and quality control (QA/QC) program.

Qualified Person

All technical information in this press release has been reviewed and approved by Martin Ethier, P.Geo.  Mr. Ethier is a consultant for Melkior and a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Melkior Resources

Melkior Resources is an exploration stage resource company in world-class mining jurisdictions across Quebec and Ontario. The company is dedicated to advancing a portfolio of high-potential mineral properties with a primary focus on gold and base metal exploration.

Melkior’s is flagship projects include Carscallen Project, Beschefer East Projects, Genex Project, Val D’Or, White Lake, and Maseres Projects. These projects are strategically located in the Abitibi Greenstone Belt, known for hosting significant gold and base metal deposits.

About SOQUEM

SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proudpartner and ambassador for the development of Quebec’s mineral wealth, SOQUEM relies on innovation, research andstrategic minerals to be well-positioned for the future.

ON BEHALF OF THE BOARD

Keith James Deluce, Director

For more information, please contact:

Melkior Resources Inc.

E-mail: info@melkior.com

Tel: 226-271-5170

The reader is invited to visit Melkior's web site www.melkior.com.

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