Merc International Minerals Inc.

Merc International Minerals Inc.

July 07, 2009 09:25 ET

Merc Announces Start of Drilling at Damoti Lake Gold Project

TORONTO, ONTARIO--(Marketwire - July 7, 2009) - Merc International Minerals Inc. ("Merc") (TSX VENTURE:MRK) announced today the start of its first drill program at the Damoti Lake Gold Project, located 200 km north of Yellowknife, Northwest Territories.

Merc's ongoing 2009 exploration program which is designed to expand upon the historic resource at Damoti Lake, consists of compiling all historical data, auditing historical resource estimates, constructing an updated three dimensional deposit model, defining and testing new drill targets, and initiating a NI 43-101 resource estimate. The current 6,000 metre, 20 to 30 drill hole program is planned to infill priority target areas within the current resource and to extend the mineralized zones along strike and to depth within the Horseshoe and Pyrite Zones. Drilling will also focus along the mineralized structures approximately 150 metres west of the Horseshoe Zone within the Red Mountain, Pink Antler and Lookout Zones.

In November 2008, Merc closed a $2.0 million flow-through financing to support the 2009 Damoti Lake drill program, which is expected to be finished by October 2009. In late 2009 an updated NI 43-101 compliant resource will be completed using all drilling to date within the Horseshoe Zone (135 drill holes) as well as the drilling completed in Merc's 2009 program (20 to 30 holes). The resource will make use of approximately 63 holes not included in the 1997 and 2004 resource estimates.

"The drilling crew from Bradley Bros. Limited arrived on site last week and we expect the first results later in August 2009 and monthly results thereafter until November 2009", reported Dr. Michael Byron, Merc's President and CEO. "We look forward to completing a NI 43-101 compliant resource at this high-grade, near surface gold project. Preliminary deposit modeling illustrates the broad extent of the gold mineralization within the host iron formation, and confirms the potential for resource expansion."

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.

Neither 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.

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