Merrex Gold Inc.
TSX VENTURE : MXI

Merrex Gold Inc.

September 01, 2010 08:45 ET

Merrex Transitions Siribaya Operatorship to IAMGOLD

HALIFAX, NOVA SCOTIA--(Marketwire - Sept. 1, 2010) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex") (TSX VENTURE:MXI) announces that effective September 1, 2010 Merrex has formally transferred operatorship of the Siribaya Gold project to IAMGOLD Corporation ("IAMGOLD").

IAMGOLD ACCEPTS TRANSFER OF SIRIBAYA OPERATORSHIP

Pursuant to the terms of the Siribaya Option Agreement, IAMGOLD elected to assume the operatorship of the Siribaya Gold Project. All necessary contractual pre-conditions were met and Merrex formally transferred the operatorship of the Siribaya Gold Project to IAMGOLD effective September 1, 2010. The Siribaya Gold Project will continue to be managed by a joint Merrex-IAMGOLD management committee.

COMMENTARY

"We are at the halfway mark of the IAMGOLD earn-in option on the Siribaya Gold Project" said Merrex President and CEO Greg Isenor. "Siribaya is advancing as we and IAMGOLD had hoped and I am pleased to see IAMGOLD taking over as project operator. I want to thank IAMGOLD and the entire exploration team for their enthusiasm over the past two years and for their cooperation especially during this transition period." 

Merrex is a Mali focused gold exploration company with experienced management, a solid exploration team, a prominent gold-producer as a partner and an expanding gold resource … a winning combination offering investors an extraordinary opportunity.

Please visit our website at www.merrexgold.com for the most recent corporate presentation.

On Behalf of the Board,

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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information