Melkior Resources Announces Completion of Flow-Through Private Placement

Melkior Resources Inc. successfully closed a non-brokered flow-through private placement raising $654,000 in gross proceeds through the issuance of 5.45 million flow-through units priced at $0.12 per unit. Each unit consists of one flow-through share and half of a common share purchase warrant, with warrants exercisable at $0.20 for two years. The flow-through structure provides tax benefits to investors while ensuring proceeds are dedicated to qualifying Canadian exploration expenses on the company's mineral properties.

The financing demonstrates continued investor interest in Melkior's exploration strategy, with notable insider participation as one director acquired 500,000 units, signaling management confidence in the company's prospects. The securities are subject to a four-month hold period and require final TSX Venture Exchange approval.

Concurrent with the financing announcement, Melkior appointed Bernard Deluce as Chief Executive Officer and Director, replacing Jonathon Deluce who transitions to a director role. Bernard Deluce brings 25 years of experience in mining property transactions and capital markets, having served on boards of companies later acquired by Lakeshore Gold Corp. and Osisko Mining. His appointment positions the company to advance its exploration strategy in what management characterizes as a rejuvenated mining market.

The successful completion of this financing provides Melkior with working capital to advance exploration activities across its mineral property portfolio while the new leadership structure under Bernard Deluce's guidance aims to build on current assets and pursue new opportunities. The flow-through financing structure ensures funds are specifically allocated toward exploration activities, which should drive near-term exploration programs and potential resource development initiatives.