Melkior Resources Reports Initial Assay Results from Carscallen Gold Project, Confirming Mineralization Continuity

TIMMINS, ONTARIO — October 8, 2026 — Leads & Copy — Melkior Resources Inc. announced initial assay results from its 2026 winter diamond drill program at the Carscallen Gold Project, located west of Timmins, Ontario. The program's first two holes, MKR-26-001 and MKR-26-002, confirm the continued presence of gold mineralization within the 1010 South structural corridor, extending the mineralized system to a vertical depth of approximately 280 metres.

The completed 10-hole, 3,136-metre program was designed to explore the vertical and lateral extensions of known mineralized zones and assess additional targets on the property. Preliminary drilling indicates that mineralization within the 1010 South Zone remains continuous and supports the interpreted down-plunge extension of high-grade mineralization.

Key findings from the initial holes include MKR-26-001, which yielded 2.91 grams per tonne of gold (g/t Au) over 2.89 metres, including a higher-grade interval of 9.17 g/t Au over 0.90 metres. Hole MKR-26-002 reported 2.52 g/t Au over 2.60 metres, with a notable section of 6.33 g/t Au over 0.93 metres.

Additional mineralized intervals were found within altered and sulphide-bearing shear zones, and the mineralization is reported to be open along strike and at depth. Assays are still pending for the remaining eight drill holes from the program.

Melkior Resources has also initiated a fully funded surface exploration program that includes geological and structural mapping, prospecting, and systematic rock sampling. This program aims to refine drill targets and enhance the understanding of structural controls on mineralization.

Regarding the 1010 Zone specifically, initial results suggest ongoing vertical continuity of gold mineralization. Both tested drill holes intersected mineralized shear-hosted quartz-carbonate veins associated with sulphide alteration. The higher-grade intervals are believed to extend the plunge of the high-grade shoot previously intersected in hole MKR-24-002, which returned 77.4 g/t Au over 6.9 metres, approximately 180 metres below the nearest historical drilling. The mineralized structures remain open both laterally and at depth.

Beyond the 1010 Zone, the winter drill program also evaluated targets along the ZamZam-Jowsey corridor and at the Northwest Prospect. The presence of deformation corridors, quartz-sulphide veining, hydrothermal alteration, and gold mineralization across multiple areas reinforces the company's exploration model for a large-scale gold system at Carscallen.

The ongoing surface exploration program has collected 178 rock samples to date, which have been submitted for analysis. Partial assay results from 100 of these samples have been received and will be integrated with current drilling data to inform future exploration planning.

“These initial results confirm the continuity of gold mineralization at depth within the 1010 Zone and support our interpretation of a down-plunge extension to the high-grade mineralization previously identified,” stated Bernard Deluce, CEO and Director of Melkior Resources. “With assays pending from eight additional drill holes and ongoing surface exploration, we continue to advance our understanding of the broader Carscallen mineralized system and its exploration potential.”

Assays for the remaining eight drill holes and surface rock samples are still pending. Results from these ongoing drilling and field programs are anticipated to aid in further target generation, assess resource expansion potential, and evaluate additional gold-bearing structures across the Carscallen Property.

Scientific and technical information in this news release was reviewed and approved by Martin Ethier, P.Geo., a consultant to Melkior Resources Inc. and a Qualified Person under National Instrument 43-101.

Melkior Resources Inc. is a Canadian mineral exploration company focused on discovering and advancing gold projects in Ontario and Québec. The company's portfolio includes the Carscallen Gold Project in the Timmins Gold Camp, as well as the Beschefer East, Genex, and Val-d'Or projects in the Abitibi Greenstone Belt.

Source: Melkior Resources Inc.