TORONTO, Oct. 5, 2012 /CNW/ – Takota Asset Management Inc. (“Takota”)
reported today that it exercises control and direction over 20,305,799
common shares of Melior Resources Inc. (the “Company”), representing
approximately 11.7% of the Company’s outstanding common shares. The
common shares are held by certain managed accounts and an investment
fund (collectively, the “Accounts”) in respect of which Takota acts as
investment manager.

Takota previously acquired control and direction over the common shares
of the Company giving rise to this report as a result of the transfer
to Takota of discretionary trading authority in respect of, and the
right to vote, common shares of the Company held in the Accounts. The
common shares of the Company over which Takota exercises control and
direction are being held for investment purposes. Depending on market
and other conditions, Takota may, from time to time, increase or
decrease its ownership, control and direction over securities of the
Company.

The issuance of this news release is not an admission that any person or
entity named herein is a joint actor with any other person or entity so
named.

SOURCE Takota Asset Management Inc.