Melkior Resources Inc. ("Melkior")(TSX VENTURE:MKR - News) is pleased to announce that it has closed a private placement with Sprott Asset Management Inc., acting as agent, of 5,000,000 units (the "Units") at a price of $0.20 per Unit for gross proceeds of $1,000,000. Each Unit is comprised of one common share and one common share purchase warrant. Each common share purchase warrant shall entitle the holder thereof to purchase one additional common share at a price of $0.35 per common share for a period of 24 months following the closing date.