Merrex Gold Inc.
TSX VENTURE : MXI

Merrex Gold Inc.

September 16, 2009 09:00 ET

Merrex Completes Siribaya Airborne Survey

HALIFAX, NOVA SCOTIA--(Marketwire - Sept. 16, 2009) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) announces:

AIRBORNE GEOPHYSICAL SURVEY DATA COLLECTION COMPLETED

Merrex announces that the data collection portion of the airborne magnetic survey of its Siribaya Gold Project in west Mali has been completed. The detailed airborne magnetic/radiometric geophysical program covered the entirety of the over 700 square kilometres land package of the Siribaya Gold Project.

The airborne survey conducted by Xcalibur Airborne Geophysics of South Africa was completed at 22,785 line-kilometres with 50 metre flight line spacing. Using the known resource at Area 55 of Zone 1B as a control, the airborne geophysical survey data will be used to identify extensions of known structures, assist future drill target selection around Siribaya's Zone 1B NI 43-101 resource area and aid prioritization of satellite target areas which were identified by prior surface and termite mound geochemical surveys and RAB drilling. The data will be sent to Paterson, Grant & Watson Limited of Toronto for quality control and further enhancements. The enhanced data will be analyzed by Merrex and IAMGOLD technical personnel and further announcements will be made after the analysis is complete.

Merrex controls 100% of the Siribaya Gold Project which comprises over 700 square kilometres of exploration permits in West Mali, with additional permits pending. IAMGOLD has an option to acquire a 50% interest in the Siribaya Gold Project by incurring up to CDN$10.5 million in exploration expenditures over 4 years to earn a 50% interest in the Siribaya Gold Project, of which $3.0 million is being spent on the 2009 exploration program.

The 2009 exploration program for the Siribaya Gold Project is managed jointly by a Merrex and IAMGOLD Corporation technical committee. Merrex is the program Operator.

Merrex's principal projects are its Siribaya Gold Project in Mali (West Africa), an advanced exploration project with an initial NI 43-101 resource estimate and the Jubilee Zinc Deposit in Cape Breton, Nova Scotia, also with a NI 43-101 resource estimate.

Merrex Gold is a mineral resource exploration company focusing on gold exploration in West Mali, western Turkey and in the Red Lake area of Ontario and zinc exploration in Cape Breton, Nova Scotia. Merrex has a solid organization of people and projects enabling aggressive exploration, discovery and growth.

Please visit our website at www.merrexgold.com for the most recent presentation.

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.

Contact Information

  • Merrex Gold Inc.
    Greg Isenor
    President & CEO
    (902) 832-5555