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MELIOR ANNOUNCES REVIEW OF STRATEGIC ALTERNATIVES

May 16, 2012

TORONTO, Ontario, May 16, 2012 – Melior Resources Inc. (TSXV-MLR) (“Melior”, the “Corporation”) announced today that its Board of Directors has commenced a review of strategic alternatives with the objective of enhancing shareholder value. A special committee of Melior’s Board of Directors has been established to oversee such review. There can be no assurance that the strategic review will result in the consummation of any agreement or transaction.

Melior’s common shares are listed on the TSX-V under the symbol “MLR”. The Corporation holds approximately $27.7 million in cash and cash equivalents and currently has no other significant operating assets or liabilities.

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