Melior Announces Preliminary Economic Assessment Findings for the Goondicum Project - Seite 2

The PEA is preliminary in nature and includes Inferred Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral Reserves, and there is no certainty the PEA will be realized.

Based on the work carried out in this PEA and the preliminary economic evaluations contained therein, management believes a positive business case has been supported for the restart of operations of the Goondicum project. The IRR of the Goondicum project is high which is consistent with the brownfield nature of the project and low restart capital costs. This is also reflected in a short payback period.

Shareholders are strongly encouraged to refer to the complete updated technical report prepared in accordance with NI 43-101 in respect of the Project, which includes the results of the PEA described in this news release, which has been filed on SEDAR at www.sedar.com under the Company's profile.

Qualified Persons Statement

The Qualified Persons for the PEA are:

Mark Dufty, BSc Hons (Geology), FAusIMM (106196), MAIG (6643), employed by TZMI as Principal Consultant, was responsible for Sections 1,2,13,15,16,17,18,19,21,22,24,25,26,27.

Mineral Resources estimates were completed by H&S Consultants Pty Ltd ("H&SC"), a geological consultancy based in Sydney, NSW, Australia and are reported in accordance with Canadian Securities Administrators National Instrument 43-101.The effective date of the mineral resources estimates disclosed in this news release is October 5, 2016.

Simon Tear, BSc Hons (Mining Geology), P.Geo (Institute of Geologists of Ireland 17), EurGeol (26), employed by H&SC as a director and Consultant Geologist, was responsible (or partly responsible) for Sections 3,4,5,7,10,11,12,14,20,23,25,26,27.

Graham Lee, BSc (Geology), FAusIMM CP(Geo) (101602), MAIG (1990, employed by Graham Lee and Associates Pty Ltd as a Director and Consultant Geologist, was responsible (or partly responsible) for sections 6,8,9,10,11,25,26.

All of the scientific and technical information in this news release has been reviewed and approved by Mark Dufty, Simon Tear and Graham Lee. All three individuals are independent of Melior and all have the appropriate relevant qualifications and experience to each be considered an independent Qualified Person under the terms of NI 43-101.