Merrex Gold Inc.
TSX VENTURE : MXI

Merrex Gold Inc.

January 29, 2008 10:13 ET

Merrex Intersects 5.29% Zinc + Lead Over 3.35 Metres in Parallel Fault Zone at Jubilee

HALIFAX, NOVA SCOTIA--(Marketwire - Jan. 29, 2008) - Merrex Gold Inc., ("Merrex") (TSX VENTURE:MXI) is pleased to announce additional positive drilling results including 5.29% zinc + lead over 3.35 metres from the eastern parallel zone of its Jubilee Zinc Property in Cape Breton Island, Nova Scotia.

Jubilee Drill Results

"This single hole (MJ-07-54) is particularly significant to us" stated Gregory Isenor, Merrex President and CEO. "Located 100 meters northwest of Hole MJ-04-24, it shows the continuity of the mineralization within this new parallel fault zone to the northeast of the Jubilee Main Zone (see Map 1). Within our planned 2008 drill program, Merrex can proceed to drill along the East Parallel Zone to the northwest with reasonable confidence that the mineralization will continue to extend in a manner similar to the Jubilee Main Zone. With sufficient drilling, this East Parallel Zone has the potential to significantly increase the NI 43-101 resource estimate of the Jubilee Deposit."

The assay results for these drill holes are shown in the table below. Drilled along an existing northeast-southwest drill fence, hole MJ-07-54 intersected 2.88% zinc + lead over 9.05 metres between 420.75 and 429.80 meters depth. This thick section also includes a higher grade interval of 5.29% zinc + lead over 3.35 metres (see Map 1). Hole MJ-07-55A was drilled 25 metres to the southwest along the same drill fence and intersected 0.95% zinc + lead over 2.5 metres, including 2.31% zinc + lead over 0.5 metres. Results indicate that hole MJ-07-54 intersected the mineralized limestone intercept on the downthrown side of this new parallel fault, and that significant mineralization may also occur to the northeast.

Road Zone

Fifteen holes were drilled along two drill fences in the Road Zone area, east of the Jubilee Main Zone and Jubilee Showing, and the results appear to indicate this zone is lower in grade than the Jubilee Main Zone (See Map 1 and table below). However, the Road Zone still has the potential to increase the overall resource estimate for the Jubilee Deposit. Several holes were drilled through the Road Zone Fault and intersected significant zinc and lead mineralization. For example, angle holes MJ-07-38, MJ-07-39 and MJ-07-47 intersected 2.62% zinc + lead over 2 metres, 3.69% zinc + lead over 0.5 metres, and 1.48% zinc + lead over 1 metre, respectively.



MJ-07-33 to MJ-07-55A Assay Summary
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Hole From To Interval Weighted Average
(m) (m) (m) ------------------------
Zn% Pb% Zn% + Pb%
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JUBILEE MAIN ZONE
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MJ-07-54 420.75 429.80 9.05 2.34 0.54 2.88
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including 423.15 426.50 3.35 4.41 0.87 5.29
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MJ-07-55A 406.40 408.90 2.50 0.91 0.05 0.95
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including 406.40 407.10 0.70 1.65 0.07 1.72
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and 408.40 408.90 0.50 2.19 0.12 2.31
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ROAD ZONE
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MJ-07-33 9.00 9.40 0.40 2.48 0.01 2.49
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MJ-07-34 47.25 48.00 0.75 0.59 0.07 0.66
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MJ-07-35 57.70 58.70 1.00 0.93 0.20 1.13
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MJ-07-35 61.55 65.65 4.10 0.75 0.64 1.39
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MJ-07-36 78.60 83.00 4.40 0.80 0.02 0.82
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including 78.60 79.00 0.40 2.27 0.01 2.28
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and 81.30 82.00 0.70 2.31 0.01 2.32
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MJ-07-38 33.00 35.00 2.00 1.69 0.93 2.62
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MJ-07-38 36.00 38.40 2.40 0.95 0.17 1.12
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MJ-07-39 43.30 43.80 0.50 2.34 1.35 3.69
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MJ-07-39A 51.00 53.00 2.00 0.76 0.32 1.08
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MJ-07-42 78.10 78.85 0.75 0.50 0.02 0.51
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MJ-07-44 99.85 100.85 1.00 0.56 0.03 0.59
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MJ-07-45 81.40 83.00 1.60 0.50 0.11 0.61
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MJ-07-47 48.65 49.65 1.00 0.70 0.02 0.72
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MJ-07-47 52.20 53.20 1.00 1.47 0.01 1.48
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To view Map 1, please visit the following link: http://www.ccnmatthews.com/docs/Mex0129.pdf

Cape Breton Regional Zinc Project

Initial exploratory drilling at Middle River (three holes) and Cains Mountain (one hole) did not produce any significant assays. Additional exploration work such as field mapping and sampling, and possibly soil sampling will be conducted in 2008 in several areas within the Cape Breton Regional Zinc Project before further drilling is undertaken.

For complete details of Merrex's prior drilling results visit our website at www.merrexgold.com.

Michael P. Cullen, P. Geo., of Mercator Geological Services Limited, supervised the drilling program on behalf of Merrex. Mr. Cullen is an independent third party and the Qualified Person, as defined under National Instrument 43-101, responsible for technical information presented in this news release. Analysis of half core samples was carried out by ALS Chemex and Merrex's independent Quality Control and Quality Assurance protocols for drill core include blank samples, duplicate samples, certified standards and third party check samples.

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.

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.

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