| Melkior Resources
Inc. ("Melkior")(TSX VENTURE:
MKR) is pleased to announce the closing of the sale
to Kakanda Resources Corp. of its 50% interest in
a Joint Venture Agreement with Santoy Resources Ltd.
Melkior sold to Kakanda its 50% interest in 968 mining
claims (Group A) and in 13 mining claims (Group B)
in the Otish Basin. Melkior also sold its 50% interest
in an Option Agreement with Majescor Resources Inc.
to earn 66 2/3% interest in 317 mining claims in
the same area (Group C).
The consideration received
by Melkior is $500,000 cash and 4.1 million shares
of Kakanda. Melkior will retain a 1% net smelter
return (NSR) on the Group A claims and a 0.25%
NSR on the Group B claims.
Kakanda will be a
major uranium explorer in the Otish during 2008.
It will actively explore the acquired properties
along with other important holdings. As a shareholder
in Kakanda, Melkior will be participating in all
of Kakanda's exploration.
This news release was
prepared by Jens E. Hansen, P. Eng Director and
President of Melkior.
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 the Company' periodic reports including
the annual report or in the filings made by the Company
from time to time with securities regulations. The
Company undertake no obligation to publicly release
the result of any revision of these forward-looking
statements to reflect events or circumstances after
the date they are made or to reflect the occurrence
of unanticipated event. |
