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.