Melior Resources Inc. refered to its press release of December 31, 2020 regarding the Default Notice received from Pala Investments Ltd. (“Pala”) and the subsequent Standstill Agreement entered into with Pala. The Company announced that it has entered into a further standstill amending agreement with Pala pursuant to which Pala has agreed to extend the standstill period until June 30, 2021. Furthermore, Melior has also entered into a further amended demand promissory note (the “Amended Promissory Note”) with Pala extending the maturity of the loan from April 30, 2021 to June 30, 2021. All other terms of the Amended Promissory Note remain unchanged.