Merrex Gold Inc.
TSX VENTURE : MXI

Merrex Gold Inc.

June 24, 2009 08:45 ET

Merrex Termite Mound Geochemical Survey Results Siribaya Gold Project

HALIFAX, NOVA SCOTIA--(Marketwire - June 24, 2009) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) announces:

GEOCHEMICAL SURVEY OF TERMITE MOUNDS COMPLETED

A detailed geochemical survey of termite mounds has been completed over the ten kilometre strike length of the Siribaya mega-structure. The termite mound survey has identified new gold-anomalous zones that were not evident from prior surface sampling and confirmed previous surface geochemical survey results and prior RAB drilling results. The interpretation of the termite mound survey delineates two strong north-south trending parallel gold-mineralized structures hosting the previously identified Zones 1A and 1B (see attached map or go to www.merrexgold.com) with the Zone 1A anomaly much more clearly and strongly identified then it was by prior conventional soil sampling, and stronger than Zone 1B where Merrex is presently drilling.

To view the map, please visit the following link: http://media3.marketwire.com/docs/090623Map-.jpg

"Termite mound sampling is a recognized geochemical survey technique, especially in south and west Mali where conventional shallow soil samples may not indicate the mineral potential that lies below the surface at greater depths," said Gregory Isenor, President and CEO of Merrex Gold. "Termites are industrious insects burrowing up to 75 metres deep underground into the laterite and saprolite in search of water and bringing to the surface hard particulate material to build their mounds. By sampling the mounds of these mini-miners we are taking what is essentially an underground sample without the cost of trenching or drilling."

Along the Siribaya structure a total of 4,297 samples were collected on a grid of 200 x 40 metres. The assay results were plotted using a range of values up to 200 ppb gold.

Termite mound surveys have also been initiated on the Babara and Kofia permits to the east of the Siribaya structure and over the Bambadinka geochemical anomaly identified by surface sampling to the west of the Siribaya structure. Assay results from these surveys are still pending.

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. 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.

Bonus Shares

The proposed grant of bonus shares announced June 6, 2009 will not be proceeding.

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 an initial 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
    (902) 832-2223 (FAX)