Holding of Melior Resources Inc.

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.

For further information or a copy of the report filed under National Instrument 62-103, please contact:

W. Scott Leckie, CFA
Principal, Portfolio Manager
Takota Asset Management Inc.
8 Price Street, 3rd Floor Toronto, Ontario  M4W 1Z4
Telephone: [phone]
Fax: [phone]