Merrex Gold Inc.

Merrex Gold Inc.

November 27, 2009 08:25 ET

Merrex Airborne Identifies Extensive Structures Outside of Siribaya Mega-Structure

HALIFAX, NOVA SCOTIA--(Marketwire - Nov. 27, 2009) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex") (TSX VENTURE:MXI) announces that the 2009 high resolution airborne magnetic/radiometric spectrometer survey has identified numerous magnetic structures outside of the Siribaya mega-structure.

Beyond the 1.5 km wide x 12 km long Siribaya mega-structure hosting the twin Zone 1A and Zone 1B sub-structures, the 2009 high resolution airborne magnetic/radiometric spectrometer survey also identified numerous structures on the Babara and Kofia permits in the eastern portion of the project area and additional structures on the western Siribaya Permit in the western portion of the project area. (See attached map)

To view the map, please visit the following link:


"The presence of both extensive magnetic structures with coincident geochemistry in several other locations of the project area indicates the potential for additional gold discoveries throughout our large permit area" commented Gregory Isenor, President and CEO of Merrex Gold Inc. "On the Babara and Kofia Permits, in the region east of the Siribaya mega-structure, there is evidence of several strong structural lineaments in a large complex system completely separate and distinct from Siribaya's 1A and 1B sub-structures. With both the extensive structural activity and supporting soil geochemistry on those areas which have been sampled, the Babara and Kofia Permits have excellent potential and will command the attention of future drill programs. On the Siribaya permit west of the Siribaya mega -structure is a 1000 metre wide by 10 kilometre long structure with an adjacent significant geochemical anomaly. Each of these areas has the potential for future discoveries. In addition, to the west of the Siribaya mega-structure lays the 10 kilometre long Bambadinka soil and termite geochemical anomaly that requires drill testing. I would encourage readers to carefully examine the accompanying map (also available at which provides a graphic illustration of, firstly, the magnitude of identified target areas outside of the Siribaya mega-structure relative to our 800 square kilometre permit area and, secondly, notwithstanding the very significant systematic exploration programs at Siribaya over the past four years, the substantial portions of the permit area that are still untested."

Babara and Kofia Permits

On the Babara and Kofia Permits in a large complex system completely separate and distinct from Siribaya's 1A and 1B sub-structures at least 7 significant structures aggregating over 50 kilometres have been identified. These structures, many of which have coincident geochemical anomalies, vary in orientation and range from 500 to 1000 metres wide and from 5 to 10 kilometres along strike.

Western Siribaya Permit

On the Siribaya permit, 5 kilometres west of the Siribaya mega-structure, another structural corridor approximately 500 metres wide and approximately 10 kilometres along strike bordered by magnetic lineaments has been identified. Geometrically this structure is very similar to the Siribaya mega-structure, but differing in that an extensive geochemical anomaly lies to the west of the structure and not coincident with it.

The Airborne Survey

From June to August 2009 Merrex undertook a high resolution airborne magnetic/radiometric spectrometer survey on its 800 square kilometre Siribaya Gold Project, including the region of the Siribaya mega-structure and Zones 1A and 1B. The airborne survey conducted by Xcalibur Airborne Geophysics of South Africa totalled 10,122 line-kilometres with 50 metre flight line spacing. Quality control and enhancements were done by Paterson, Grant & Watson Limited of Toronto. The enhanced data were interpreted by Merrex technical personnel.

Siribaya Gold Project

Merrex holds a 100% interest in an 800 square kilometre land package located in west Mali, Africa. The Siribaya Gold Project is joint exploration project funded by IAMGOLD Corporation, managed by a joint IAMGOLD-Merrex management team and operated by Merrex. IAMGOLD may earn up to 50% interest in the Siribaya Gold Project by expending Can$10.5 Million over four years. During 2009 over $3,000,000 was spent on an exploration program comprised of diamond drilling, soil and termite mound geochemical sampling and an airborne magnetometer and spectrometer survey.

Jean-Marc Gagnon, P. Eng., Project Manager at Siribaya, is the Qualified Person as per NI 43-101 and is responsible for the information in this news release.

About Merrex

Merrex is a Mali focussed gold exploration company with experienced management, a solid exploration team, a prominent gold-producer as a partner and an expanding gold resource … a winning combination which offers investors an extraordinary opportunity.


Gregory Isenor,

President and Chief Executive Officer

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Neither the 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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