Merrex Gold Inc.
TSX VENTURE : MXI

Merrex Gold Inc.

November 07, 2006 08:00 ET

Merrex Announces Stock Options Grant

HALIFAX, NOVA SCOTIA--(CCNMatthews - Nov. 7, 2006) - Greg Isenor, President & CEO of Merrex Gold Inc., ("Merrex") (TSX VENTURE:MXI) announces:

Stock Options

Merrex announces that 350,000 incentive stock options have been granted to employees and consultants pursuant to Merrex's incentive stock option plan. The incentive stock option plan is a rolling stock option plan compliant with the prevailing policies of the TSX Venture Exchange. The incentive stock options granted are exercisable for five years at $0.75 per share.

There are a total of 3,140,000 incentive stock options outstanding after the current grant which represents approximately 8.6% of the outstanding issued capital.

Merrex is a mineral resource exploration company focused on exploration for gold in Mali, West Africa where recent trenching results point to a new gold discovery, for nickel in Voisey's Bay, Newfoundland where drilling is in progress testing deep geophysical targets with similarities to Inco's deposit and for zinc at Jubilee in Nova Scotia, where drilling is currently under way.

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 Corporation expects, are forward looking statements. Although the Corporation 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
    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