Melkior Resources Completes Winter Drill Program and Launches Field Mapping and Prospecting Campaign at the Carscallen Gold Property in Timmins, Ontario

13:00 Uhr  |  The Newswire

Timmons, June 24, 2026 - Melkior Resources Inc. ("Melkior" or the "Company") (TSXV: MKR) (OTC: MKRIF) is pleased to provide an exploration update from its Carscallen Gold Project, located approximately 25 kilometres west of Timmins, Ontario.

Exploration Highlights

• Completed a 10-hole (3,136 metres) program targeting high-priority gold zones across three different target areas: the 1010 North and South Zones, Zamzam-Jowsey Zone and the Northwest Prospect.

• The Northwest Prospect, located ~500 m north of the 1010 North Zone, represents the northern extension of the 1010 mineralized corridor. Recent drilling has the potential to extend the overall structural trend to over 1.5 km.

• Commenced a comprehensive two-to-three-month, fully funded field mapping, surface sampling and prospecting program at Carscallen. This fully funded initiative is being led by the Company's in-house geological team, which enhances operational efficiency while maintaining strong cost discipline.

"We are very encouraged by the successful completion of our winter drilling and excited to immediately follow-up with an extensive geological and prospecting campaign this field season," said Bernard Deluce, CEO and Director of Melkior Resources. "Leveraging our in-house geological team allows us to advance exploration more efficiently, gain a better understanding of the mineralization and structural controls, and optimally position the project for the next phase of drilling."

Discussion of Results:

The Company has successfully completed a 10-hole diamond drilling program totaling over 3,136 metres, marking a key milestone in advancing the project. The drilling program targeted high-grade mineralized structures and lateral and down / up dip extensions of known gold mineralization. All ten holes were completed as planned, with excellent core recovery reported. Drill core processing is ongoing at a facility in Quebec, including detailed geological logging and sampling, with submissions to an accredited assay laboratory. Multiple strongly mineralized core intersections were intersected in most of the planned drill holes which is consistent with the historical gold showings. Assay results are anticipated sometime in August 2026, representing a significant near-term catalyst for the Company.

Building on the momentum from the winter drilling campaign, Melkior has also initiated a fully funded, field program which is expected to run for approximately two to three months this field season being executed by Melkior's in-house geological team. The field program will focus on detailed geological - structural mapping, systematic surface sampling, and targeted gold prospecting across key target areas of the property. The aim is to expand the lateral extents of known gold zones and define the structural controls associated with the gold mineralization. Results from this work are expected to generate additional drill targets and support the next phase of exploration. Further updates will be provided as assay results are received and fieldwork progresses.

The Carscallen Gold Project:

The Company's 100%-owned Carscallen Gold Property covers ~47 km² in the prolific Abitibi Greenstone Belt, just 25 km west of Timmins, Ontario. It features structurally controlled orogenic gold mineralization along NNW-SSE trending shear corridors, hosted in quartz-sulphide veins with strong silica-sericite-carbonate alteration. The system shows excellent geologic potential between the high-grade gold, structure-controlled magnetics, IP chargeability/resistivity anomalies, and alteration - classic signatures for discovering additional high-grade ore shoots. Multiple mineralized corridors (Zamzam-Jowsey-Shenkman >1.5 km strike with 400 m+ depth continuity; 1010 Corridor >500 m strike with northern extension potential) remain open in strike and depth, with proven continuity and repeating high-grade plunging structures typical of the Timmins camp.

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Carscallen Gold Property Map on Satellite Imagery near Timmins, Ontario

Standout technical attributes include bonanza-grade intercepts such as 77.4 g/t Au over 6.9 m (incl. 445 g/t Au over 1.2 m) at 1010 South - the project's highest metal factor to date - plus dozens of historical hits >25 g/t Au. Preliminary metallurgy shows ~95% gold recovery. The property benefits from low-cost exploration upside via in-house teams, strong geophysical targeting, and proximity to major infrastructure and neighboring producers, making it well-positioned for resource growth through targeted drilling and surface work. This positions Carscallen as a high-grade exploration asset with district-scale potential in a Tier-1 jurisdiction.

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.

About Melkior Resources

Melkior Resources Inc. is an exploration-stage resource company operating 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 exploration.

Melkior's flagship projects include the Carscallen Project, the Beschefer East Project, the Genex Project and the Val-d'Or Project. These projects are strategically located in the Abitibi Greenstone Belt, known for hosting significant gold and base metal deposits.

ON BEHALF OF THE BOARD

Bernard Deluce, CEO and Director

For more information, please contact:

Melkior Resources Inc.

E-mail: info@melkior.com

Tel: 705-805-0390

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

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.

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.

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