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Ottawa, Ontario CANADA, January 20, 2012 /FSC/ - Melkior Resources Inc. (MKR - TSX Venture), ("Melkior" or the "Company") has complete assays for base metals from samples submitted from its 2011 drill program on its wholly owned McFaulds East Rim property in northern Ontario. Eight holes totalling 1768.8 metres were drilled to test a series of electromagnetic and magnetic anomalies, which were accessible during the summer months. The eight holes were widely spaced ranging from 3 km up to 12 km apart. Maps showing the location of the drill holes are available on Melkior's website. Samples are being submitted for gold assays.

Summary of drill results:

Drill hole MMF-01-2011 was drilled at an azimuth of 208 degrees and a dip of -50 degrees with a final depth of 177 metres. This hole was part of the seven holes designed to test a portion of a broad regional gravity anomaly and conductive anomalies. The drill hole intersected strong conductive and magnetic horizons which consist of semi-massive pyrrhotite hosted within mafic volcanic breccia.

Drill hole MMF-02-2011 was drilled at an azimuth of 225 degrees and a dip of -65 degrees with a final depth of 258 metres. The hole intersected a mafic volcanic sequence (massive flow and breccia flow) interbedded with fine-grained sediments. A conductor was intersected between 202.30 and 206.25 metres and consists of pyrrhotite-rich mudstone interbedded with calcareous siltstone beds. Copper is present in small amounts within this interval, grading 204 ppm and locally zinc (2250 ppm between 202 and 202.50 metres).

Drill hole MMF-03-2011 was drilled at an azimuth of 210 degrees and a dip of -65 degrees with a final depth of 168 metres. A conductor was intersected between 126.25 and 127.70 metres and consists of pyrrhotite and calcite veins hosted in a mafic volcanic sequence (massive flow and breccia flow). The pyrrhotite is almost massive in these calcite veins.

Drill hole MMF-05-2011 was drilled at an azimuth of 235 degrees and a dip of -50 degrees with a final depth of 319.8 metres. Although pyrrhotite was encountered (between 228.00 and 229.00 metres, hosted in mafic volcanic rock), there was no conductive response in the core. The disseminated aspect of pyrrhotite might explain the non-conductive response at the core scale. The actual target is probably off-hole.

Drill hole MMF-6c-2011 was drilled at an azimuth of 040 degrees and a dip of -60 degrees with a final depth of 192 metres. Several conductive horizons (low core angle to down-dip) were intersected between 155.50 and 166.30 metres and consist of pluri-centimetre thick pyrrhotite and pyrite veins hosted within mafic volcanic rock.

Drill hole MMF-07-2011 was drilled at an azimuth of 215 degrees and a dip of -60 degrees with a final depth of 321 metres. Several conductors were intersected consisting of carbonate and pyrrhotite veins (with trace of chalcopyrite), pyrrhotite as veinlets and semi-massive pyrrhotite hosted in hyaloclastic rock.

Drill hole MER-01-2011 was drilled at an azimuth of 225 degrees and a dip of -50 degrees with a final depth of 189 metres. A conductive horizon was encountered between 157.70 and 161.00 metres and between 173.50 and 174.00 metres (Table 1). These conductive horizons consist respectively of calcareous siltstone and argillite containing pyrrhotite pods and veinlets. Small proportions of base metal occur locally at 159.30 to 160.25 metres grading 1160 ppm of zinc and 607 ppm of copper.

Drill hole MMF-08-2011 was drilled at an azimuth of 144 degrees and a dip of -63 degrees with a final depth of 144 metres. The hole was designed to test a gravity and magnetic high which represents a potential for ultramafic rock and chromite. A gabbro was intersected with some strongly magnetic intersections.

Although Melkior's drill program did not encounter economic mineralization, the eight holes were the first phase of drilling ever conducted by any exploration company on the property and the program provided valuable information to assist Melkior in prioritizing anomalies for a future drill program. Elevated zinc and copper values were detected in holes MMF-02-2011 and MER-01-2011. The values were not in an economic range (~1000 ppm) however the presence of base metals is considered significant for future work. In addition hole MER-01-2011 indicated wide intersections of Scandium (~30 ppm) and Arsenic (> 1000 ppm) due to the presence of arsenopyrite, which could be a good indicator for gold.

The East Rim property is a large area which contains several gravity highs, as well as conductive and magnetic anomalies. The eight holes drilled were scattered and represent a very small proportion of the gravity high that was targeted. A number of areas and targets remain to be tested. Nevertheless, these eight holes provided important information on geology, especially on lithological units (which are hidden by at least ~ 30 metres of Paleozoic rocks) and geochemistry which could be used for future drill programs.

Drilling revealed thick units of mafic volcanic rock (breccia flow and hyaloclastic) which represent favourable porous and permeable units for syn-volcanic and/or syn-tectonic fluid circulation. Locally, such hyaloclastic rocks are pervasively altered into sericite with anomalous Arsenic values (hole MER-01-2011). Sulphides (mainly pyrrhotite, pyrite and locally chalcopyrite) are found in every hole. Such occurrence of sulphides is a crucial ingredient for base metal mineralization. Gabbro was also encountered in hole MMF-02-2011 and MMF-08-2011; this gabbro is associated with a gravity high and could be related to ultramafic rocks, hence the potential for PGE, chromite and possible Ni-Cu. At the district scale, several showings/deposit types occur involving either ultramafic/mafic intrusions or mafic volcanic rocks. The presence of mafic volcanic hyaloclastite locally altered and the gabbro with horizons containing high proportions of sulphides are all favourable elements.

All drill core from the 2011 drill program at McFaulds was logged, split and sampled at Billiken McFaulds camp. The samples were sent to Actlabs in Thunder Bay, Ontario and were assayed using Aqua Regia - Inductively Coupled Plasma Mass Spectroscopy (ICP-MS) on 25 g sub-samples. Standards, which were inserted randomly within the sample sequence, were also assayed; the assay technique selected was appropriate for assaying low base metal values, however it was not designed to detect gold. Some samples will be re-assayed using a Fire Assay technique for gold since positive geology and mineral indicators for gold, including arsenopyrite were revealed.

The East Rim property comprises 101 claims totalling 192 square kilometres, located in the Ring of Fire, McFaulds, James Bay Lowlands in northern Ontario. It covers a large gravity anomaly similar to the anomaly coincident with the nearby nickel and chromite deposits. For more information on the McFaulds property, please visit the company's website.

This Press Release was prepared by Dr. Eric Hebert, P.Geo. of GeoVector Management Inc, and Qualified Person under National Instrument 43-101.

About Melkior:

Melkior is a junior exploration company with active exploration projects in West Timmins, the McFaulds "Ring of Fire" area and Long Lac of Ontario. Melkior also holds a 49% interest in the Delta Kenty nickel-copper-platinum-palladium deposit in Ungava and has several other gold properties in Ontario and Quebec.

For more information:

Melkior Resources Inc.
Tel: 613.721.2919
Fax: 613.680.1091
E-mail: melkior@rogers.com
Web: 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.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Melkior's periodic reports including the annual report or in the filings made by Melkior from time to time with securities regulatory authorities.

To view this release as a web page, click on the following link:
http://www.usetdas.com/pr/melkiorpre01202012.htm



Source: Ressources Melkior Inc. (TSXV MKR) www.melkior.com
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Source: Filing Services Canada (January 20, 2012 - 12:46 PM EST)