Merrex Gold Inc.

Merrex Gold Inc.

September 24, 2007 09:30 ET

Merrex Acquires 100% Of Jubilee

HALIFAX, NOVA SCOTIA--(Marketwire - Sept. 24, 2007) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) is pleased to announce that the Jubilee Zinc Deposit is now 100% owned by Merrex.

"Merrex now owns 100% of the Jubilee Deposit" commented Merrex President & CEO, Gregory Isenor. "Merrex has exercised its option to acquire Aur's interest in the Jubilee Zinc-Lead Deposit. Title to the claims has been transferred to Merrex."

The Aur portion of the Jubilee Zinc-Lead Deposit was a 23 claim block contiguous to the Merrex 205 claim block which, together, covered the Jubilee Zinc-Lead Deposit in Cape Breton, Nova Scotia. Merrex paid $80,000 and incurred over $2,000,000 in exploration expenditures to earn the interest. The Jubilee Zinc Deposit is now 100% owned by Merrex.

The 2007 drilling within the Jubilee Main Zone extended the mineralized zone to at least 2.1 kilometres in length and provided further evidence of the continuity of the mineralization thereby increasing the size of the Jubilee Zinc - Lead Deposit. Recent drilling within the Jubilee Main Zone included intersections as high as 21.16% zinc-lead over 2.7 meters including 41.39% zinc-lead over 1.2 meters.

In addition, step-out drilling intersected zinc-lead mineralization outside of the Jubilee Main Zone indicating the presence of two and possibly three additional mineralized zones. These new zones, including one to the east which yielded assays as high as 5.3% zinc + lead over 9.6 meters including 10.25% zinc + lead over 4.15 metres (Hole MJ-07-24), 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. Further drilling is required, but there is excellent potential to significantly increase the size of the Jubilee Deposit through future delineation of these additional zones.

Aur retains the right to back-in for a 50% interest in the combined Jubilee Property by incurring exploration expenditures equal to 200% of the Merrex Gold expenditures (a minimum of $4,000,000) on the Jubilee Property. If Aur elects not to back in, then Aur shall received a Net Smelter Return of 2% provided that 1% of such Net Smelter Return may be purchased for $1,000,000. Aur's back-in right is a one-time only right which expires October 20, 2007.

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 or to email us at to be added to the Company's e-mail list for press releases and updates.


Gregory Isenor, P. Geo., President & CEO

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.


Contact Information