Melior Enters Into Standstill Amending Agreement

TORONTO, Oct. 23, 2019 (GLOBE NEWSWIRE) -- Melior Resources Inc. (TSXV: "MLR") ("Melior" or the "Company") refers to its press release of September 13, 2019 regarding the Default Notice received from the Senior Lender and the subsequent Standstill Agreement entered into with the Senior Lender.

The Company announces that it has entered into a standstill amending agreement with the Senior Lender pursuant to which the Senior Lender has agreed (on certain terms and conditions) to extend the standstill period until November 30, 2019.

Melior is currently considering all options available to it in these circumstances in the interests of all Melior stakeholders. Additional information will be provided to the market by Melior as necessary.

About Melior

Melior's Subsidiaries are the owners and past operators of the Goondicum ilmenite and apatite mine located in Queensland, Australia.  Further details on Melior and the Goondicum mine can be found at www.meliorresources.com and regulatory filings are available on SEDAR.  As detailed in the press release of September 9, 2019, voluntary administrators have been appointed to the Subsidiaries in Australia pursuant to Section 436A of the Corporations Act 2001 (Australia).

Melior is incorporated under the provisions of the Business Corporations Act (British Columbia) and has a registered office in Vancouver, British Columbia. Melior is now classified as a Tier 2 Mining Issuer under the policies of the TSX Venture Exchange.

MELIOR RESOURCES INC.
Martyn Buttenshaw
Interim Chief Executive Officer
+41 41 560 9070
[email protected]

Neither the 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.