Merrex Gold Inc.
TSX VENTURE : MXI

Merrex Gold Inc.

March 13, 2008 10:11 ET

Merrex Siribaya Drilling Intersects 4.83 g/t Au over 21.5 Metres

HALIFAX, NOVA SCOTIA--(Marketwire - March 13, 2008) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) is pleased to release partial drill results for the first two of ten holes from Phase I of the 2008 diamond drill program at Merrex's Siribaya Gold Project in West Mali.

"These partial results were rush-assayed because our field crew recognized that we had hit the right rock type at depth" commented Merrex President and CEO Greg Isenor, P. Geo. "Partial assay results from two holes at Siribaya Zone 1B include hole SR-DD-08-55 with 4.83 g/t over 21.5 metres including 6.00 g/t over 16.5 metres and 500 metres to the south hole SR-DD-08-53, our best hole to date, intersected 14 gold mineralized intervals the best of which were 4.65 g/t over 17.0 metres including 5.85 g/t over 10.0 metres and 4.07 g/t over 13.0 metres including 5.17 g/t over 9.0 metres. Assays from the top and the bottom of both holes are still pending."

Drill hole 53 was spotted to undercut and test the down dip extension of the gold mineralization previously intersected in hole 42 (News Release January 14, 2008) and intersected a 100 metre envelope of sulphide-rich, gold-bearing, altered meta-sediments and felsic rocks. The two strong gold mineralized sections noted above were within this 100 metre envelope.

"Without doubt, hole 53 is our best hole to date. It's the hole we have been waiting for at Siribaya" added President and CEO Greg Isenor. "We are continuing to drill the strike and depth extensions of these intersections."

Drill hole 55, located 500 m to the north of hole 53, intersected a similar package of gold mineralized rocks at depth and the strike and depth extension is being drill tested.

The strike and depth extensions throughout Zone 1B are open. Management believes that the Siribaya Structure is part of a major gold-bearing system with the potential to deliver large deposits.

The planned 20,000 metre 2008 diamond drill program at Siribaya continues to yield significant assays. Phase I (ten holes totalling approximately 2,000 metres) focused on Zone 1B, a one kilometre long section of the ten kilometre long Siribaya structure, one of many structures on the 750 sq km property. These preliminary results suggest that comparable to producing mines in West Africa, gold grades increase with depth.



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Table of Assays
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Depth Assay
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Hole SR-DD-08-53
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0.0 m - 65.0 m assay results pending
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77.0 m - 90.0 m 4.07 g/t over 13.0 m, including 5.17 g/t over 9.0 m
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141.0 m - 154.0 m 1.78 g/t over 13.0 m, including 2.52 g/t over 4.0 m
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171.0 m - 188.0 m 4.65 g/t over 17.0 m, including 5.85 g/t over 10.0 m
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208.0 m - 241.5 m assay results pending
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Hole SR-DD-08-55
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0.0 m - 116.0 m assay results pending
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118.0 m - 121.0 m 1.53 g/t over 3.0 m
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142.0 m - 163.5 m 4.83 g/t over 21.5 m, including 6.00 g/t over 16.5 m
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163.5 m - 178.0 m assay results pending
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Drilling is underway and results will be released as received and interpreted.

Please visit our website at www.merrexgold.com for full details of the exploration history of the Siribaya Gold Project including tables of all assay results from this and prior drill programs.

Quality Assurance

HQ size drill core samples were detail logged, samples were collected every one metre down the entire hole and the samples shipped for gold analysis. Analysis of half core samples was carried out by ALS Chemex ABILAB Laboratory in Bamako and Merrex's independent Quality Control and Quality Assurance protocols for drill core included blank samples and duplicate samples. The program is being carried out under the supervision of Jean-Marc Gagnon, P. Eng., MBA, the qualified person, as defined under National Instrument 43-101, responsible for the technical information presented in this news release. The driller was the African division of Longyear Canada, of North Bay, Ontario.

About Merrex

Merrex owns a large land position in the prolific West Mali gold producing area. Together with strategic partner Touba Mining, Merrex has acquired five mineral permits covering over 700 square kilometres and has a permit applications in progress for an additional approximately 200 square kilometres, all within the West Mali Gold Belt, a region which currently produces in excess of one million ounces of gold per year from such well-known large gold deposits as the Sadiola and Loulo mines. The Merrex permits cover highly prospective land with significant geological structures, associated geochemically anomalous gold zones, extensive orpailleur alluvial gold workings and artisinal underground workings.

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.

Contact Information

  • Merrex Gold Inc.
    Greg Isenor
    President & CEO
    (902) 832-5555
    (902) 832-2223 (FAX)
    Website: www.merrexgold.com