Melkior Resources Acquires Additional Carscallen Claims
Timmins, October 13, 2017 - Melkior Resources Inc. ("Melkior") is pleased to announce that it has entered into an agreement to purchase an additional 2 claims totaling 14 units in Carscallen Township, Timmins, Ontario (the "Property"), subject to the acceptance of the TSX Venture Exchange. The addition of these two claims is considered highly strategic as they form a bridge between the Big Marsh Project and the Carscallen Project. The two projects together now form a contiguous block of 40 group claims comprised of 274 claim units (4,376 hectares). Approximately $36,000 of assessment work is required to maintain claims within the Big Marsh Project within the next six months. This strategic acquisition will allow Melkior to focus its exploration expenditures on the Carscallen Project while simultaneously maintaining the Big Marsh Claim group.
Total consideration for the Property is a cash payment of $5,000 (paid) and the issuance of 100,000 common shares upon acceptance of the transaction by the TSX Venture Exchange. The Property is subject to a 2% net smelter return royalty in favour of the vendors.
Melkior is always searching for new opportunities and is working to enhance its claim inventory in the Carscallen Township and in Timmins with the goal of increasing shareholder value.
ON BEHALF OF THE BOARD
Keith James Deluce, CEO
For more information, please contact:
E-mail: info@melkior.com
Tel: 705-267-4000
The reader is invited to visit Melkior's web site www.melkior.com.
This news release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Melkior's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond Melkior's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of Melkior's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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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