Melkior Intersects Significant Gold Mineralization in West Timmins

OTTAWA, ONTARIO--(Marketwire - July 23, 2010) -

• 2.87 g/t Gold over 5.80 metres and 1.79 g/t over 11 metres from Zam Zam Shenkman Zone

• Gold hosted with mafic xenoliths and potential for larger mineralized zones at depth

Melkior Resources Inc. ("Melkior") (TSX VENTURE:MKR) is pleased to announce results for 4 holes on its 100% owned Carscallen Gold Project located in West Timmins, Ontario, Canada. The results include high-grade gold intercepts from the Zam Zam Zone, further demonstrating the continuity of the zone. Melkior is awaiting completion of assays for 6 more holes and will release them once they are checked and compiled.

Work currently underway in Carscallen:

• Compiling surface prospecting which has identified new gold zones.
• Down hole geophysics to direct planned drilling below the 500 metre level to locate areas of sulphide concentrations.
• Detailed surface geology of earlier trenching to integrate surface geology results with drill data.
• Introduction of all holes, both previous and current (57 in the current program) into the 3D model with geological and geochemical interpretation. The gold bearing structures have been detected over a strike length of approximately 2 kilometres and to a depth of 500 metres. These remain open in all directions.
• From the 3D model determine higher grade portions of the structure to direct planned drilling below the 500 metre level.
• Probably increase of drilling program beyond the initial 20,000 metres.

Drill Results:

CAR-47-2010 and CAR-51-2010 were part of a series of parallel holes designed to test the Zam Zam Shenkman zone system at a vertical depth greater than 500 metres. The two holes were drilled underneath the Shenkman zone and intersected 2.87g/t gold over 5.80 metres and 1.87g/t gold over 11 metres, at a vertical depth of 250 metres. The 2.87g/t gold intersection consisted of pyrite mineralization hosted within mafic xenoliths in altered granite. Deeper narrow intersections were mainly hosted in quartz and/or carbonate and pyrite stringers.

CAR-47-2010 was drilled at an azimuth of 240 degrees and a dip of 50 degrees, with a final length of 597 metres. Table 1 lists the results.

Table 1: Significant Results from hole CAR-47-2010.

CAR-51-2010 was drilled at an azimuth of 240 degrees and a dip of 50 degrees, with a final core length of 710 metres. Table 4 lists the results.

Table 2: Significant Results from hole CAR-51-2010

An east-west shear zone was discovered south of the Shenkman zone by prospecting. The thickness of the shear zone is between 1 to 20 metres. CAR-49-2010 and CAR-50-2010 were drilled to test the newly discovered shear zone at relatively shallow depths.

CAR-49-2010 was drilled to intersect the east-west shear zone and the hinge of a northeast-southwest fold on the western portion of the Shenkman zone. CAR-49-2010 was drilled at an azimuth of 75 degrees and a dip of 50 degrees, with a final core length of 293 metres. Three mineralized zones were intersected as shown in Table 3. The gold was associated with quartz-pyrite veins and breccia veins containing up to 5% pyrite.

Table 3: Significant results from hole CAR-49-2010.

CAR-50-2010 was drilled to test the east-west shear and an Induced Polarization (IP) anomaly south of the east-west shear. The hole was drilled at an azimuth of 180 degrees and a dip of 50 degrees, with a final core length of 139 metres. Gold mineralization occurred in a series of quartz-pyrite veinlets (2-3% pyrite) hosted in granite.

Table 4: Significant Results from hole CAR-50-2010

Quality Assurance / Quality Control

Core processing included descriptive logging and systematic sampling for analysis. The drill core was sawed in half, with one half delivered to a commercial laboratory and the other half retained for future reference, gold assays were performed at ALS CHEMEX Laboratories in Val d'Or, Quebec. The processed samples were submitted to a standard Fire Assay with AA technique (Au-AA-23) and Inductively Coupled Plasma Emission Spectroscopy (ME-ICP-41) on a 30 gram sub-sample. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol.

This Press Release was prepared by Jens E. Hansen, P.Eng, President of Melkior Resources Inc, Qualified Persons under National Instrument 43-101 with assistance from geologist Eric Hebert.

About Melkior:

Melkior is a junior exploration company with active exploration projects in West Timmins and the Mc Faulds "Ring of Fire" areas 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.

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.