Melkior Resources Inc.

Melkior Resources Inc.

April 24, 2007 11:55 ET

Melkior Announces a $1,500,000 Brokered Private Placement

OTTAWA, ONTARIO--(CCNMatthews - April 24, 2007) - Melkior Resources Inc. ("Melkior") (TSX VENTURE:MKR) is pleased to announce that it has entered into an agreement with Becher McMahon Capital Markets Inc. (the "Agent") as agent for the private placement, on a reasonable efforts basis, of up to 3,157,894 units (the "Units") at a price of $0.475 per Unit (the "Offering").

Each Unit will consist of one common share of the capital of Melkior and one-half of a common share purchase warrant (each whole such warrant a "Warrant"). Each Warrant will entitle its holder thereof to purchase one additional common share in the capital of Melkior at a price of $0.60 per common share for a period of 18 months from the closing date.

The Agent will receive a cash commission representing 8% of the gross proceeds of the Offering. In addition, the Agent will receive compensation options equal to 10% of the number of Units sold under the Offering. Each compensation option will entitle the Agent to purchase one Unit of Melkior at a price of $0.475 for a period of 18 months from the closing date.

The net proceeds from the Offering will be used by Melkior to finance exploration expenditures in Quebec on its Otish area properties where uranium is the primary target and on its Delta Kenty Lake nickel copper property in the Ungava as well as for general corporate purposes.

The Offering is subject to acceptance for filing by the TSX Venture Exchange and receipt of any required regulatory approvals.

Cautionary Statement on Forward-Looking Information

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Corporation's expectations. Certain risk factors may also affect the actual results achieved by the Corporation.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information