Melkior Reports 95% Gold Recovery from Preliminary Metallurgical Testing at Its Carscallen Gold Project

OTTAWA, ONTARIO--(Marketwired - Jul 18, 2013) - Melkior Resources Inc. (TSX VENTURE:MKR) ("Melkior") is pleased to announce that it has received positive gold metallurgical results from its Initial Metallurgical Study for the Carscallen Gold Project in Timmins, Ontario. A composite of mineralized samples from the ZamZam zone was sent to Activation Laboratories for preliminary metallurgic testing to assess gold recovery from samples of representative mineralization. A Knelson concentrator was used for gravity concentration, and then several cyanidation tests were completed on the gravity tailings. The combined gravity and cyanidation methods resulted in 95% gold recovery from 8.72 g/t head grade material. Given the first-pass nature of this testing, this result is considered to be very positive.

The ZamZam zone is a gold bearing vein system exposed on the surface for a length of 215 metres and consists of a series of fractures filled with gold-bearing pyrite and quartz-pyrite veins hosted in granite. Surface grab samples and channel samples include a sample grading 843.72 g/t gold and surface channels assaying 4.00 metres grading 4.95 g/t gold and 4.20 metres grading 5.66 g/t gold (see news releases dated September 6^th, 2007 and December 17^th, 2012). Shallow and deep drilling also revealed continuity of these gold zones.

The selected composite was derived from 39 residual core samples representative of the mineralization (i.e. sampled material not used by the laboratory, commonly called "rejects") and of quarter drill core from the ZamZam zone. The assayed head grade of the composite was 8.72 g/t Au. The samples selected were primarily pyrite and quartz veins hosted in granite. The samples which comprise the composite represent typical near-surface gold intersections found on the ZamZam zone on the Carscallen property. 17.48 kilograms of material were sent to Activation Laboratories for metallurgical testing. 59.47% of the gold was recovered in the gravity concentrate. The combination of gravity concentration followed by cyanidation of the gravity tailings gave a total recovery and extraction of 95% of the gold for the Carscallen composite. This is considered to be a very encouraging result, which demonstrates that the gold can be efficiently extracted and recovered from the ZamZam zone. Table 1 indicates the drill core and their widths used in the composite.

Going Forward

The next steps for Carscallen are two-fold: a) a series of shallow drill holes will be drilled to extend and close off the gold mineralization on the ZamZam zone for outlining a resource (a total of 600 to 1000 metres of drilling); and b) the 3D data compilation will be used to target one or more deep holes on the Shenkman Zone underneath the granite to pursue the source for all near-surface gold mineralization.

Melkior's Carscallen Gold project is located in the Timmins mining camp which has excellent infrastructure. The project is accessible year round and has paved road access.

This Press Release was prepared by Dr. Eric Hebert, P.Geo of GeoVector Management Inc, and Qualified Person under National Instrument 43-101.

About Melkior:

Melkior is a junior exploration company with active exploration projects within the Timmins gold camp and holds several other exploration properties of which the most important is the 100% owned Launay gold property in West Quebec. Melkior also holds two claim groups in the Beardmore Long-Lac gold camps as well as 49% of the Delta Kenty nickel-copper deposit in Ungava.

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.