Melkior Closes Final Tranche of Private Placement

Timmins, Ontario. Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is
pleased to announce it has closed the final tranche of a non-brokered private placement (the “Private
Placement”) for gross proceeds of C$31,300, subject to final TSX Venture Exchange (the “TSXV”) approval.

Agnico Eagle Mines has exercised its anti-dilution rights and subscribed for 156,500 common shares of the financing.

The Company’s first tranche of $600,000 closed on December 23, 2022 resulting in the issuance of
2,500,000 flow through common shares.

The Company issued 156,500 common shares at a price of $0.20 per common share for gross proceeds of $31,300.

Jonathon Deluce, CEO of Melkior, remarks, “We appreciate the continued support from Agnico Eagle and our institutional shareholder which positions the Company well for 2023 with over $2.3M in working capital and
only 27.1M shares outstanding. We look forward to continuing work at Genex, updates from our partnership at Carscallen and potential property acquisitions in 2023.”

Proceeds of the Private Placement will be used for general working capital. The Company did not issue finders’ fees on this financing.

All securities issued under the Private Placement will have a hold period of four months and one day from

Jonathon Deluce, CEO