OTTAWA, ONTARIO, Dec 22, 2009 (MARKETWIRE via COMTEX News Network) --

Melkior Resources Inc. (TSX VENTURE: MKR) ("Melkior" or the "Company") is pleased to provide a budget update following its recently completed private placement which resulted in total gross proceeds in excess of $6.0 million. With cash on hand in excess of $8.0 million, the Company plans to aggressively expand its work programs as follows:

1. Substantially expand drilling on its 100% owned West Timmins Carscallen Gold property located adjoining Lake Shore Gold Corp.

2. Explore and drill its 100% owned Ring of Fire East Rim Nickel property

3. Drill its 100% owned Timmins Eldorado Nickel property

West Timmins Carscallen:

Drilling of 7 holes totalling 1,960 metres has been completed on the West Timmins Carscallen property prior to the December 16 holiday break. Samples from potential mineralized sections have been sent for assay. The expanded drill program for 2010 is expected to total approximately 10,000 metres at greater depths.

To date, gold bearing structures have been detected over a total strike length of approximately 1,000 metres and these have been drilled to a depth of approximately 150 metres. Narrow, high grade gold veins similar to early Melkior results were typical of early near surface exploration by Lake Shore Gold Corp (TSX: LSG) and West Timmins Mining Inc. (acquired by LSG). Deeper drilling led to significant discoveries. The current drilling and expanded program is planned to test the zones to the depths where LSG encountered important widths and gold grades. New geophysical surveys have covered a portion of the property where it extends into Denton Township. New Induced Polarization anomalies, located south of current drilling, will be investigated. Deep gold deposits are characteristic of the new West Timmins discoveries.

The allocated budget for the West Timmins Carscallen property is approximately $3.0 million.

Ring of Fire:

Melkior holds a 100% interest in 1,492 claim units or 23,872 hectares in the East Rim Nickel project in the McFaulds "Ring of Fire" exploration area in Northern Ontario. MEGATEM and VTEM airborne surveys have been completed and a series of targets with massive sulphide geophysical signatures have been located. It is anticipated that these will be drill ready in March-April 2010.

Melkior also owns a 50% interest in 934 claim units or 14,960 hectares in the West Rim project. MEGATEM airborne surveying has been completed on this property. Both the East and West Rim blocks were staked to cover large regional gravity anomalies which are typically associated with the worlds major nickel districts (Sudbury, Raglan, Norilsk). Drilling by Noront Resources Limited (TSXV: NOT) has demonstrated the potential for significant nickel-copper-PGE discoveries in the "Ring of Fire".

Melkior's planned budget for this program is $1.5 million.

Other Timmins:

Melkior holds 328 claim units or 5,248 hectares in Eldorado and Shaw Township located approximately 10 kilometres south of Timmins. The property adjoins Liberty Mines Inc (TSX: LBE) which, following a recent financing by Jilin Jien Nickel Industry Co., Ltd, has resumed nickel production at its Redstone and McWatters Mines. Redstone is approximately one kilometre south of Melkior's claims.

OTTAWA, ONTARIO, Dec 22, 2009 (MARKETWIRE via COMTEX News Network) --

Melkior Resources Inc. (TSX VENTURE: MKR) ("Melkior" or the "Company") is pleased to provide a budget update following its recently completed private placement which resulted in total gross proceeds in excess of $6.0 million. With cash on hand in excess of $8.0 million, the Company plans to aggressively expand its work programs as follows:

1. Substantially expand drilling on its 100% owned West Timmins Carscallen Gold property located adjoining Lake Shore Gold Corp.

2. Explore and drill its 100% owned Ring of Fire East Rim Nickel property

3. Drill its 100% owned Timmins Eldorado Nickel property

West Timmins Carscallen:

Drilling of 7 holes totalling 1,960 metres has been completed on the West Timmins Carscallen property prior to the December 16 holiday break. Samples from potential mineralized sections have been sent for assay. The expanded drill program for 2010 is expected to total approximately 10,000 metres at greater depths.

To date, gold bearing structures have been detected over a total strike length of approximately 1,000 metres and these have been drilled to a depth of approximately 150 metres. Narrow, high grade gold veins similar to early Melkior results were typical of early near surface exploration by Lake Shore Gold Corp (TSX: LSG) and West Timmins Mining Inc. (acquired by LSG). Deeper drilling led to significant discoveries. The current drilling and expanded program is planned to test the zones to the depths where LSG encountered important widths and gold grades. New geophysical surveys have covered a portion of the property where it extends into Denton Township. New Induced Polarization anomalies, located south of current drilling, will be investigated. Deep gold deposits are characteristic of the new West Timmins discoveries.

The allocated budget for the West Timmins Carscallen property is approximately $3.0 million.

Ring of Fire:

Melkior holds a 100% interest in 1,492 claim units or 23,872 hectares in the East Rim Nickel project in the McFaulds "Ring of Fire" exploration area in Northern Ontario. MEGATEM and VTEM airborne surveys have been completed and a series of targets with massive sulphide geophysical signatures have been located. It is anticipated that these will be drill ready in March-April 2010.

Melkior also owns a 50% interest in 934 claim units or 14,960 hectares in the West Rim project. MEGATEM airborne surveying has been completed on this property. Both the East and West Rim blocks were staked to cover large regional gravity anomalies which are typically associated with the worlds major nickel districts (Sudbury, Raglan, Norilsk). Drilling by Noront Resources Limited (TSXV: NOT) has demonstrated the potential for significant nickel-copper-PGE discoveries in the "Ring of Fire".

Melkior's planned budget for this program is $1.5 million.

Other Timmins:

Melkior holds 328 claim units or 5,248 hectares in Eldorado and Shaw Township located approximately 10 kilometres south of Timmins. The property adjoins Liberty Mines Inc (TSX: LBE) which, following a recent financing by Jilin Jien Nickel Industry Co., Ltd, has resumed nickel production at its Redstone and McWatters Mines. Redstone is approximately one kilometre south of Melkior's claims.

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