Merrex Gold Inc.
TSX VENTURE : MXI

Merrex Gold Inc.

February 01, 2007 14:21 ET

Merrex Expands Jubilee Zinc Deposit and Announces an Additional 15,000 Metres of Drilling

HALIFAX, NOVA SCOTIA--(CCNMatthews - Feb. 1, 2007) - Merrex Gold Inc., ("Merrex") (TSX VENTURE:MXI) is pleased to make the following announcement.

Jubilee Drill Results - Summary

Further positive results from the final five holes of the fall 2006, 4,400 metre, 12-hole drill program add value to Merrex's Jubilee Zinc Project.

The fall 2006 drilling program successfully accomplished three significant objectives. Firstly, the step-out drilling added another 100 metres to the Jubilee Zone of mineralization along strike on the Jubilee northwest extension (holes MJ-06-05 and MJ-06-07). The northwest extension remains open and will be the subject of further drilling to continue to expand the deposit. Secondly, the step-out drilling intersected a previously unknown area of zinc mineralization running parallel to the main Jubilee Zone (MJ-06-08). This newly discovered area of mineralization is important because it may be either a mineralized zone paralleling the main Jubilee Zone (and therefore similar to the Road and Northeast Zones), or it may be mineralization associated with a cross fault. In either case this new mineralization will add to the resource at Jubilee and will be the subject of further drilling. (See Map 1). Thirdly, the infill holes (MJ-06-10 and MJ-06-12) provided further confirmation of previous drill results within the Main Zone, information essential to Merrex's continuing goal of establishing a NI43-101 compliant resource estimate for the Jubilee Deposit.

http://www.ccnmatthews.com/docs/mximap1.pdf

Assay highlights from the program are as follows:

- 5.29% Zinc + Lead / 3.77 metres incl. 13.95% Zinc + Lead / 1.30 metres

- 4.66% Zinc + Lead / 4.00 metres incl. 19.01% Zinc + Lead / 0.88 metres

- 3.50% Zinc + Lead / 2.82 metres incl. 6.74% Zinc + Lead / 1.25 metres

Major Expansion of Drill Program

Merrex further announces that it has signed a 15,000 metre diamond drilling contract with Logan Drilling of Stewiacke, Nova Scotia.

This next phase of drilling will focus on the northwest extension of the Jubilee Zinc Deposit to expand the size and define the character of the deposit. It will also test the newly discovered area of zinc mineralization. Drilling is scheduled to commence early February, 2007.

Jubilee Drill Results

Significant assay results from the final five holes of the 12-hole program are detailed in the table below. (For previous drilling results see news release January 19, 2007 and for a complete program assay summary visit our website at www.merrexgold.com.)



Assay Summary Table

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Hole From To Interval Weighted Average
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(m) (m) (m) Zn% Pb% Zn% + Pb%
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MJ-06-08 414.00 416.82 2.82 2.30 1.20 3.50
including 414.00 415.25 1.25 4.17 2.57 6.74
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MJ-06-10 223.30 227.30 4.00 3.34 1.32 4.66
including 224.17 225.05 0.88 13.09 5.93 19.01
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MJ-06-12 218.45 222.22 3.77 4.88 0.41 5.29
including 219.64 220.94 1.30 12.98 0.97 13.95
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Michael P. Cullen, P. Geo., of Mercator Geological Services Limited, supervised the 2006 drilling program on behalf of Merrex. Mr. Cullen is an independent third party and the qualified person, as defined under National Instrument 43-101, responsible for technical information presented in this news release.

Merrex Gold is a mineral resource exploration company focused on exploration for gold in West Mali, Africa, zinc in Cape Breton, Nova Scotia, nickel in West Voisey's Bay, Labrador, and gold in Red Lake, Ontario, with a solid organization of people and projects to enable continued aggressive exploration, discovery, and growth.

Merrex Gold Inc. invites the public to visit its website at www.merrexgold.com or to e-mail us at info@merrexgold.com to be added to the Company's e-mail list for press releases and updates.

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.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS RELEASE.

Contact Information

  • Merrex Gold Inc.
    Greg Isenor
    President & CEO
    (902) 832-5555
    (902) 832-2223 (FAX)
    or
    Merrex Gold Inc.
    Diane Webber
    Senior Geologist/Investor Relations
    (902) 832-5555
    (902) 832-2223 (FAX)
    Email: info@merrexgold.com
    Website: www.merrexgold.com