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Press release from Marketwire

Melior Mails Directors' Circular

Tuesday, October 16, 2012

Melior Mails Directors' Circular16:19 EDT Tuesday, October 16, 2012TORONTO, ONTARIO--(Marketwire - Oct. 16, 2012) - Melior Resources Inc. (TSX VENTURE:MLR) ("Melior") announced today that it has mailed to its shareholders a Directors' Circular as required by applicable securities laws in response to the unsolicited offer by Pala Investments Limited ("Pala"), through its wholly-owned subsidiary, to acquire all of the outstanding common shares of Melior that Pala does not already own (the "Pala Offer"). Pala is Melior's largest shareholder, and currently owns, directly or indirectly, approximately 44% of the outstanding Melior shares. A copy of the Directors' Circular is available online at www.sedar.com. Pala has stated that the Pala Offer expires at 11:59 p.m. (Toronto time) on November 5, 2012 (unless withdrawn or extended). Forward-Looking StatementsThis news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Melior cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. Forward-looking statements are based on Melior's current plans, estimates, projections, beliefs and opinions, and Melior does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change, except as required by law. When used in this news release, words such as "plans", "expects", "intends", "anticipates", "will", "may", "believes" or variations of such words and phrases often, but not always, identify forward-looking statements. Although Melior believes that the expectations reflected in such forward-looking statements are reasonable, all forward-looking information is subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or results anticipated by the forward-looking information. The factors which could cause actual results or events to differ materially from current expectations include, but are not limited to: actions taken by Pala; actions taken by Melior shareholders in respect of the Pala Offer; the possible effect of the Pala Offer on Melior's business; and other factors identified and in Melior's filings with applicable Canadian securities regulatory authorities, including in its annual information form for the year ended June 30, 2011 filed on SEDAR and available at www.sedar.com.FOR FURTHER INFORMATION PLEASE CONTACT: Thomas MasneyMelior Resources Inc.Chief Financial Officer416-644-1217Neither 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.