Melkior Resources Inc.
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Melkior Resources Inc.

October 08, 2014 08:30 ET

Melkior Explores Timmins Wire Gold and Lake Shore Boundary Areas

OTTAWA, ONTARIO--(Marketwired - Oct. 8, 2014) - Melkior Resources Inc. ("Melkior" or the "Corporation") (TSX VENTURE:MKR)(PINKSHEETS:MKRIF)(FRANKFURT:MEK) is pleased to announce it has initiated a surface sampling and geological program on its Wire Gold occurrence in the Carscallen group of claims located on Highway 101 approximately 25 kilometres southwest of Timmins Ontario. The Wire Gold occurrence was known for producing spectacular samples of visible gold and consists of an oxide facies iron formation trending north hosted within mafic metavocanics that are, in turn, crosscut by east-west trending quartz-carbonate infilled tension gashes. The showing also possesses xenoliths from the nearby Carlton granodioritic pluton to the west.

The contact of the Carlton granodioritic pluton with the underlying mafic metavolcanics has been extensively drill tested and resulted in the discovery of the ZamZam, Jowsey, Shenkman and Mystery gold zones located approximately 500 meters west of the Wire Gold showing as well. These zones including the 1010 and 1010 north zones are all comprised of quartz-carbonate in filled tension gashes crosscutting the granodioritic/metavolcanic contacts with important results such as 140.50 g/t gold over 0.6 metres drilled width on the ZamZam Zone (refer to the February 28th, 2014, press release) and 5.10 g/t gold over a drilled width of 13.25 metres on the Shenkman Zone (refer to the June 28th, 2011, press release).

The proximity of these seven gold occurrences to each other and located within a 1,000 metre by 1,000 metre corridor suggests the potential for a deeper seated gold feeder source as well as the potential for all of these systems to be related due to a possible metasomatic effect that may be more regional in extent. In addition to the Wire Gold occurrence, Melkior intends to investigate additional showings to the south straddling the border between the Lake Shore and Melkior's land positions notably, the historic Aumo gold showing.

Melkior has conducted 33,000 metres of drilling on the Zam Zam, Shenkman, Mystery, Jowsey and 1010 gold bearing trends to depths of up to 350 metres. The drill data will be interpreted and analyzed in detail to recommend the appropriate continuation.

Jens Hansen, CEO of Melkior, states. "The Melkior 100% owned Carscallen property adjoins the Lake Shore West Timmins Gold Mine property. Timmins is Ontario's premier gold and base metal mining camp with a 100 year history. Gold occurrences are widespread on the Melkior Carscallen property which is a very encouraging indicator for a potentially significant gold discovery. It is for this reason Melkior is resuming active exploration in Timmins."

Melkior is undertaking a 43-101 study of its Launay Gold project in Quebec. The work is funded by Beaufield Resources Inc. Melkior owns a 49% interest (Glencore 51%) of the Kenty Lake Nickel-Copper-platinum group elements property in Ungava, Quebec.

About Melkior:

Melkior is a mineral exploration company with active gold exploration projects in West Timmins, Ontario and Launay, Quebec.

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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Melkior's periodic reports including the annual report or in the filings made by Melkior from time to time with securities regulatory authorities.

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