Pala Investments Offer for Melior Resources Inc. Expires

TORONTO, Dec. 24, 2012 /CNW/ - Pala Investments Limited ("Pala") announced today that its offer (the "Offer") to acquire all of the outstanding common shares ("Melior Shares") of Melior Resources Inc. ("Melior") for $0.11 in cash per Melior Share not already owned by Pala or its affiliates, has now expired.

Pala has taken up all of the Melior Shares deposited to the Offer, being 9,832,366 Melior Shares in total, representing approximately 5.67% of the outstanding Melior Shares.

Pala now owns, directly or indirectly, 94,528,199 Melior Shares or approximately 54.52% of the Melior Shares, based on current Melior Shares outstanding.

About Pala
Pala is a multi-strategy investment company dedicated to investing in, and creating value across the mining sector in both developed and emerging markets. Pala seeks to assist companies in which it has long-term shareholdings by providing strategic advice and innovative financing solutions. For more information, visit www.pala.com.

SOURCE: Pala Investments Limited

For further information:

Pala Investments

Janet Darling

+41-41-560-9070

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Pala Investments Limited

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