Melior Resources Inc.: Closing of the Belridge Acquisition and Appointment of Chief Executive Officer

Further to the announcement of 31 March 2014, Melior Resources Inc. (TSX
VENTURE:MLR) ("Melior" or the "Corporation") is pleased to announce that,
following the receipt of final approval from the TSX Venture Exchange, it has
completed its acquisition of 100% of the issued and outstanding shares of
Belridge Enterprises Pty Ltd ("Belridge"), owner of the Goondicum ilmenite
project.


Additionally, as previously announced, effective today, Dr. Charles Entrekin has
stepped down as Chief Executive Officer of Melior and will be replaced by Mr.
Mark McCauley. Dr. Entrekin will continue in his role as Chairman of the board.
Mr. McCauley will also join the Melior board as an executive director.


Dr. Charles Entrekin, Chairman of Melior, commented, "We are very pleased to
have closed the transaction to acquire the Goondicum project and excited at the
opportunities that bringing the operation back into production will yield.
Furthermore, we are delighted to welcome Mark to the role of CEO of Melior and
we look forward to Mark's leadership in realizing the full potential of the
Goondicum project."


Belridge is an Australian-incorporated company which owns the Goondicum ilmenite
project located in Queensland, Australia. The acquisition constituted a "Change
of Business" transaction of the Corporation in accordance with Policy 5.2 of the
Exchange. Concurrent with closing of the Acquisition, the Corporation was
re-classified from a Tier 1 Investment Issuer to a Tier 1 Mining Issuer on the
Exchange. 


Melior today issued 38,087,971 common shares to the shareholders of Belridge as
consideration for the acquisition. Up to an additional 38,087,971 common shares
may become issuable to the Belridge shareholders as earn-out consideration if
certain conditions are met as described in Melior's press release of March 31,
2014. The Corporation has filed on SEDAR a Filing Statement in respect of the
acquisition along with a National Instrument 43-101 compliant Technical Report
relating to the Goondicum Project. These documents are available under the
Corporation's profile at www.sedar.com and contain further details about the
acquisition and the Goondicum Project. 


About Mark McCauley

Mr. McCauley was formerly Managing Director of Belridge Enterprises Pty Ltd, the
former owner of the Goondicum Project. Mr. McCauley has substantial mining
experience and has been involved in the development of several major mining
projects in Australia and Argentina, including turnaround and organizational
restructuring. Mr. McCauley was a Non-Executive Director and Chair of the Audit
Committee for Norton Goldfields Limited from September 2007 until June 2010
during which time he was also Managing Director for a nine month period of
restructuring. Mr. McCauley served as Chief Financial Officer and Company
Secretary of Felix Resources Ltd, an ASX listed coal mining company, from
October 2003 to February 2007 during which time it went from a market cap of $35
million to a market cap of over $1 billion. 


Mr. McCauley has previously been a director of several AIM and ASX listed mining
and exploration companies. Mr. McCauley completed an Advanced Management
Programme at Harvard Business School in 2003, holds an MBA from Bond University
in Australia (with Majors in Finance and Accounting) and has a Bachelor of
Engineering from the University of Queensland. 


About the Corporation

Melior Resources Inc. (TSX VENTURE:MLR) ("Melior"), is the owner and operator of
the Goondicum mine, a past-producing ilmenite and apatite mine strategically
located in Queensland Australia. Melior is committed to restarting and expanding
the Goondicum operations. Further details on Melior and the Goondicum project
can be found at www.meliorresources.com and regulatory filings are available on
SEDAR.


The Corporation is incorporated under the provisions of the Business
Corporations Act (British Columbia) and has a registered office in Toronto,
Ontario. The Corporation is classified as a Tier 1 Mining Issuer under the
policies of the TSX Venture Exchange.


READER ADVISORY

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.


Forward Looking Statements Disclaimer 

Certain information contained in this news release constitutes forward looking
information under the provisions of Canadian securities laws. Forward-looking
statements are statements that are not historical facts and are generally, but
not always, identified by the use of forward-looking terminology such as
"plans", "expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", "projects", "potential", "believes" or
variations of such words and phrases or statements that certain actions, events
or results "may", "could", "would", "should", "might" or "will" be taken,
"occur" or "be achieved" or the negative connotation. Readers are cautioned that
the material assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be imprecise.
Actual results, performance or achievement could differ materially from those
expressed in, or implied by, this forward-looking information and, accordingly,
no assurance can be given that any of the events anticipated by the
forward-looking information will transpire or occur, or if any of them do so,
what benefits Melior will derive therefrom. Melior disclaims any intention or
obligation to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as required by
applicable securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Melior Resources Inc.
Thomas Masney
Chief Financial Officer
416-644-1217
info@meliorresources.com
www.meliorresources.com
Melior Resources (TSXV:MLR)
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