Merrex Gold Inc.
TSX VENTURE : MXI

Merrex Gold Inc.

August 07, 2008 13:27 ET

Merrex Resignation of Director

HALIFAX, NOVA SCOTIA--(Marketwire - Aug. 7, 2008) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) announces Michel Blouin has resigned as a director of the Company.

"Mr. Blouin has worked very closely with us over the past several years and we very much appreciate his contribution to the Company. We look forward to a continued association with his law firm Lavery, de Billy" said President Gregory Isenor.

Merrex Gold is pursuing its Siribaya Gold Discovery in West Mali which has returned intersections as high as 5.07 g/t Au over core length 33 metres and 5.92 g/t Au over 20 metres from Siribaya's Zone 1B, a one kilometre long zone which is a part of the previously drill-identified 10 kilometre long gold-mineralized Siribaya structure. ACA Howe International Limited has been engaged to prepare a NI 43-101 compliant resource estimate.

Phase II of the 2008 diamond drill program is testing the depth and strike extension of the gold mineralization and an additional 4,000 metres of core drilling has been completed. The assay results of this drilling will be released as soon as results have been received and interpreted.

Merrex also owns the 228 claim Jubilee Zinc-Lead Deposit located in Cape Breton, Nova Scotia. Diamond drilling defined a mineralized zone over 2.1 kilometres long and open to the north (the Jubilee Main Zone) and recent drill intersections returned assays as high as 21.16% zinc-lead over 2.7 metres including 41.39% zinc-lead over 1.2 metres. Drilling also intersected zinc-lead mineralization in zones outside of the Jubilee Main Zone including one to the east which yielded assays as high as 5.3% zinc-lead over 9.6 metres including 10.25% zinc-lead over 4.15 metres (Hole MJ-07-24). These zones appear to run parallel to the Jubilee Main Zone but may also be controlled to some extent by cross structures. This type of parallel and cross faulting is common to carbonate-hosted zinc-lead deposits. An additional 16 core holes were drilled in the parallel zones during 2008.

Results will be released when assays have been received and interpreted.

The Jubilee Zinc-Lead deposit has a NI 43-101 compliant resource estimate of 3.1 million tonnes grading 4.71% Zinc equivalent, including 2.1 million tonnes grading 5.6 % Zinc equivalent and 1.9 million tonnes grading 5.79% Zinc equivalent. This resource estimate will be updated once recent drill results are tabulated.

Gregory P. Isenor, P. Geo., is a "Qualified Person" as such term is defined in NI 43-101 and is the person responsible for the technical information presented in this news release.

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

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)
    Website: www.merrexgold.com