Melkior Resources completes winter drill program at Carscallen

  June 24, 2026 – TheNewswire - Timmons, Ontario - 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.