Melkior Options 12 Claims in BristolMelkior Options 12 Claims in Bristol, West Timmins, to Big Red Diamond Corporation
OTTAWA, ONTARIO, Aug 26, 2009 (MARKETWIRE via COMTEX News Network) --
Melkior Resources Inc. ("Melkior") (TSX VENTURE: MKR) is pleased to announce the signature of a letter of intent with Big Red Diamond Corporation ("Big Red") (TSX VENTURE: DIA) whereby Bid Red can acquire a 50% interest in Melkior's 100% owned 12 claim units in Bristol Township, West Timmins. Big Red will issue 1,000,000 of its common share to Melkior on regulatory approval and undertake $400,000 of exploration work over a period of 48 months on the claims to earn the 50% interest. Melkior will be the operator.
The Melkior claims are located between two Big Red claim groups in Bristol Township. Regional airborne geophysics suggests exploration targets that extend from the Melkior claims onto the Big Red properties. The Bristol claims are 5 kilometres north of the Lake Shore Gold (TSX: LSG) West Timmins gold deposit. They adjoin West Timmins Mining Inc. (TSX: WTM) and San Gold Corporation (TSX VENTURE: SGR) blocks.
In addition to the 12 claim units Bristol block, Melkior has 209 claims, totalling 3,344 hectares in the West Timmins area including Carscallen where assays are being processed.
This press release was prepared by Jens E. Hansen, P. Eng., President and Director of Melkior Resources Inc., the Qualified Persons under Section 43-101.
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-platinium-palladium deposit in Ungava.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Melkior Resources Inc. Jens E. Hansen, P. Eng., President and Director 613-721-2919 613-680-1091 (FAX) melkior@rogers.com www.melkior.com
SOURCE: Melkior Resources Inc.