Melkior Resources Inc.

Melkior Resources Inc.

June 11, 2008 11:48 ET

Melkior Closes Sprott Financing

OTTAWA, ONTARIO--(Marketwire - June 11, 2008) - Melkior Resources Inc. ("Melkior")(TSX VENTURE:MKR) is pleased to announce that it has closed a private placement with Sprott Asset Management Inc., acting as agent, of 5,000,000 units (the "Units") at a price of $0.20 per Unit for gross proceeds of $1,000,000. Each Unit is comprised of one common share and one common share purchase warrant. Each common share purchase warrant shall entitle the holder thereof to purchase one additional common share at a price of $0.35 per common share for a period of 24 months following the closing date.

The private placement is subject to final acceptance by the TSX Venture Exchange and receipt of any required regulatory approvals. All securities issued under the private placement are subject to a four month and one day hold period ending on October 10, 2008.

The net proceeds from the Sprott private placement will be used by Melkior to expand its exploration activity, including drilling, on the McFauld's East Rim Nickel property and the West Rim Nickel property. Melkior is awaiting approval of the acquisition from the TSX Venture Exchange. The properties are located on two significant gravity features with associated magnetic anomalies. The properties cover approximately 2265 claim units totalling 36240 hectares. For the location of the properties please refer to the Melkior website Melkior currently has personnel on the properties in order to plan the upcoming exploration.

This news release was prepared by Jens E. Hansen, P. Eng, President Melkior Resources Inc., a Qualified Person under NI 43-101.

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

Contact Information

  • Melkior Resources Inc.
    Jens E. Hansen
    613-828-7268 (FAX)