Merc International Minerals Inc.

Merc International Minerals Inc.

March 24, 2010 08:30 ET

Merc Commences Drilling at Its Damoti Lake Gold Project

TORONTO, ONTARIO--(Marketwire - March 24, 2010) - Merc International Minerals Inc. ("Merc") (TSX VENTURE:MRK) announced today the start of its second diamond drill program at the Damoti Lake Gold Project, located 200 km north of Yellowknife, Northwest Territories.

Drilling is currently underway as two rigs begin a 10,000 to 12,000 meter program intended to extend known mineralization to depth within the Horseshoe North zone, to extend new zones discovered at Red Mountain by the 2009 drill program and to confirm and expand the high-grade mineralization previously reported for the BIF Island zone. 

On March 4, 2010 Merc reported the completion of its winter geophysics program of detailed ground magnetic, electromagnetic, and localized induced polarization surveys. Initial orientation surveys were carried out over known mineralization to determine their physical characteristics, in effect, creating a geophysical "footprint". Subsequent surveys helped trace mineralization along strike and down plunge within the iron formation and identified new drill targets elsewhere on the property with similar "footprints". Drilling will test these new geophysical targets, as well as other high-priority mineralized zones that are represented by significant geophysical anomalies including Knob Hill, Runway, Lard, and Granite.

"Drill crews arrived on site last week and drilling is now in progress, with our first assay results expected by mid to late April," reported Dr. Michael Byron, Merc's President and CEO. "We are very excited and look forward to testing these new targets including those identified by our recently completed geophysical program. Deposit modeling at Red Mountain, Horseshoe and BIF Island present additional drill targets that are expected to expand the Damoti resource."

In November 2009, Merc closed a $3.1 million flow through financing to support the 2010 winter drill program at Damoti Lake.

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. Merc 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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