Merrex Gold Inc.
TSX VENTURE : MXI

Merrex Gold Inc.

January 19, 2007 10:00 ET

Merrex Intersects Significant Zinc and Lead Mineralization on Jubilee Property in Nova Scotia

HALIFAX, NOVA SCOTIA--(CCNMatthews - Jan. 19, 2007) - Merrex Gold Inc. ("Merrex") (TSX VENTURE:MXI) is pleased to announce very positive initial results from seven drill holes of the recently completed diamond drilling program on its Jubilee Zinc Project in Cape Breton, Nova Scotia. Assay highlights received to date include:

- 3.69% Zinc + Lead / 2.97 metres incl. 9.45% Zinc + Lead / 0.60 metres

- 4.23% Zinc + Lead / 3.40 metres incl. 5.63% Zinc + Lead / 0.60 metres

- 3.97% Zinc + Lead / 4.85 metres incl. 26.81% Zinc + Lead / 0.64 metres

- 3.23% Zinc + Lead / 0.60 metres

The 2006 Drill Program

Diamond drilling has recently been completed on the Jubilee Zinc Property, located in Cape Breton, Nova Scotia. The program of 12 holes totaling approximately 4,400 metres was designed to confirm and expand the Jubilee Zinc Deposit (see press release: September 27, 2006). High grade zinc mineralization both adjacent to and within the Jubilee Fault was tested for its strike extension to the northwest and lateral extension. Significant assay results received to date are listed in the Assay Summary Table as follows:



ASSAY SUMMARY TABLE
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Hole # From To Interval Weighted Average
(m) (m) (m) Zn% Pb% Pb% + Zn%
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MJ-06-01 228.43 237.57 9.14 1.89 0.27 2.16
including 228.43 229.03 0.60 9.41 0.04 9.45
including 236.12 237.57 1.45 1.96 0.93 2.89
------------------------------------------------------------------
MJ-06-02 240.03 243.38 3.35 0.81 0.28 1.09
including 240.03 240.63 0.60 1.76 1.47 3.23
------------------------------------------------------------------
MJ-06-03 365.20 371.35 6.15 0.52 0.07 0.59
including 365.20 365.80 0.60 1.04 0.04 1.08
------------------------------------------------------------------
MJ-06-05 415.15 420.00 4.85 3.52 0.45 3.97
including 415.85 416.49 0.64 23.90 2.91 26.81
MJ-06-05 426.55 427.05 0.50 2.04 0.35 2.39
------------------------------------------------------------------
MJ-06-07 392.10 394.00 1.90 1.06 0.04 1.10
MJ-06-07 396.25 410.60 14.35 0.71 0.56 1.28
including 396.25 399.65 3.40 2.12 2.11 4.23
including 399.05 399.65 0.60 5.35 0.28 5.63
------------------------------------------------------------------


The 2006 drill program has successfully confirmed the extension of the zinc mineralized zone an additional 100 metres to the northwest along strike for a total length of 1.7 kilometers from the Jubilee Showing (See Map 1). This is in addition to the previously defined Northeast Zone and Road Zones of zinc/lead mineralization.

http://www.ccnmatthews.com/docs/Merrex%20Gold%20map.pdf

Greg Isenor, President and CEO of Merrex Gold stated, "We are extremely encouraged that our initial drilling in Jubilee extended and further defines the Jubilee Zinc Deposit. The results reported today are very encouraging and we are awaiting assay results for the remaining five drill holes with great anticipation."

The Jubilee Property

The Jubilee Property, located in Cape Breton, Nova Scotia, is a 228 claim group which includes the Jubilee Deposit. Merrex owns 100% of 205 claims outright and holds the remaining 23 claims under option from Aur Resources Inc. (See news release September 19, 2006).

In excess of 150 holes have been drilled on the Jubilee Deposit to date. In 1998 Savage Resources Canada Company (Savage) prepared an in-house resource estimate of 1,560,000 tonnes (rounded) grading 5.49% zinc and 1.4% lead. However, this estimate of the mineral resource or reserve is not considered compliant with National Instrument 43-101 (NI43-101) and the recent program will provide additional data towards establishing a NI43-101compliant resource.

Jubilee 2007 Drilling Announcement

Merrex is pleased to announce the signing of a 15,000 metre diamond drilling contract with Logan Drilling of Stewiacke, Nova Scotia commencing early February, 2007 to continue the aggressive exploration of its Jubilee Zinc Project. This program will assist in further defining the extent of zinc/lead mineralization of the Jubilee Deposit.

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 email us at info@merrexgold.com to be added to the Company's email 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