MLR Melior Resources Inc

Melior Resources Inc. (TSXV: “MLR”) (“Melior” or the “Company”) refers to its press release of December 31, 2020 regarding the Default Notice received from Pala Investments Ltd. (“Pala”) and the subsequent Standstill Agreement entered into with Pala.

The Company announces that it has today entered into a further standstill amending agreement with Pala pursuant to which Pala has agreed to extend the standstill period until June 30, 2021.

Furthermore, Melior has today also entered into a further amended demand promissory note (the “Amended Promissory Note”) with Pala extending the maturity of the loan from April 30, 2021 to June 30, 2021. All other terms of the Amended Promissory Note remain unchanged.

MELIOR RESOURCES INC.Martyn ButtenshawInterim Chief Executive Officer+41 41 560 9070info@meliorresources.com

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.