Merc International Minerals Inc.
TSX VENTURE : MRK

Merc International Minerals Inc.

December 18, 2007 11:29 ET

Merc International Announces Amendment to Borthwick Lake Agreement

TORONTO, ONTARIO--(Marketwire - Dec. 18, 2007) - Merc International Minerals Inc. ("MIMI") (TSX VENTURE:MRK) is pleased to announce amendments to its option agreement on the Borthwick Lake Gold Project which will allow MIMI to increase its interest earned in the Borthwick Lake Gold Project from 60% to 100%.

Under the revised option agreement dated December 17, 2007, which is subject to regulatory acceptance, MIMI can now earn a 100% interest in the Borthwick Lake Gold Project from Anaconda Mining Inc. ("Anaconda") by:

(i) paying Anaconda $95,000 cash;

(ii) incurring exploration expenditures on the Borthwick Lake Gold Project aggregating $1.7 million; and

(iii) issuing Anaconda 1,600,000 common shares from treasury;

over the four year term of the option agreement. Upon earning the 100% interest in the Borthwick Lake Gold Project, MIMI shall grant Anaconda an industry standard net smelter royalty ("NSR"). The NSR shall be 1% if the afternoon London Gold Fix is less than US$600 and 2% if average afternoon London Gold Fix is US$600 or more.

Under the original option agreement dated October 1, 2005 MIMI was granted an option by Anaconda to earn a 60% interest in the Borthwick Lake Gold Project by paying Anaconda $80,000, incurring exploration expenditures on the Borthwick Lake Gold Project aggregating $1.0 million and issuing Anaconda 125,000 common shares from treasury over the four year term of the option agreement.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Merc International Minerals Inc.
    Thomas Pladsen
    President and CEO
    (647) 287-3778
    (416) 628-5911 (FAX)
    Email: tompladsen@hotmail.com