Merrex Gold Inc
MXGIF:OTCQX, TSX:MXI International


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Merrex Sells Fontana Interest and Secures Irish Zinc Permits
Marketwire via Comtex

Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex") (TSX VENTURE: MXI) is pleased to announce:

Highlights

-- Fontana property interest optioned for $500,000
-- Four zinc concessions secured in Ireland

Fontana Property Interest, Quebec

Merrex has optioned for sale its 25% interest in the 16 claim Fontana prospect to Tres-Or Resources Limited for $500,000 payable $150,000 on execution of the option agreement (received), $150,000 after six months and $200,000 after 12 months. The minority interest in the Fontana property was never a material asset to Merrex and Merrex had no desire to participate as a minority non-controlling partner in any joint exploration activity; therefore monetization was the best business choice.

Irish Zinc Concessions

Merrex has acquired for the cost of application four blocks of zinc exploration permits in the Republic of Ireland. The intention in securing these concession blocks is to enhance the Jubilee Zinc Project with additional zinc prospects and thereby render the entire package more attractive for disposition.

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Concession Name Number of Permits Area (km2)
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Moate 8 265
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Tipperary 4 107
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Portarlington 8 325
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Kildare 10 346
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Totals 30 1,043
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About the Siribaya Gold Project

Merrex's principal exploration project is the Siribaya Gold Project, a joint Merrex-IAMGOLD project in West Mali comprised of approximately 848 square kilometres of gold-prolific exploration permits and permit applications pending where exploration expenditures to date exceed $23 million. IAMGOLD has advised that the required $10.5 million of exploration expenditures under the terms of the Earn In Option Agreement has been completed and that subject to a final accounting review which is presently underway IAMGOLD will vest with a 50% interest in the land package. Exploration of the Siribaya Gold Project is ongoing under a joint management committee. A total of 60,000 metres of drilling (Reverse Circulation, Diamond and Auger) is planned for 2012 at a budgeted expenditure of $11.86 million before contractual overhead fees.

For further details about the Siribaya Gold Project visit Merrex's website at www.merrexgold.com.

Gregory P. Isenor, P. Geo., is the Qualified Person as defined under NI 43-101 who has reviewed and is responsible for the technical information presented in this news release.

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.

Contacts:
Merrex Gold Inc.
Gregory Isenor, P.Geo.
President & CEO
(902) 832-5555
(902) 832-2223 (FAX)
info@merrexgold.com


SOURCE: Merrex Gold Inc.

mailto:info@merrexgold.com

"Phenochris2"
8/17/2011 10:12:08 AM

Another interesting development...another increase in IAG's stake in the project. I think that there is no doubt about IAG's commitment to Siribaya. Lets hope for a gradual increase in SP with the trickle assays throughout the remainder of this year, a pop with the upcomming Resource Update and a healthy premium on a TO offer in 1H/2012.
I cant see why this would be unreasonable....
Demonstrated continuity of mineralization over the Siribaya structure, same, albeit to a lesser extent, for Bambadinka, first drill results at Barbara and 'points east'. If the NI 43-101 comes back with 1M oz as planned, we should be laughing as the area used in the calc. is but a small window in a demonstrably large deposit.
Put me on ignore if you wish, but this is a great deposit here people, multi-million oz potential for sure.

mheadroom2
Fellow Shareholders;
I am giving this stock a blue sky potential of $5.35 per share.
4 million oz in sirybaya
2 million for Barbarra and Bambadinka et al.
3 million oz net to MXI of reasonably high grade pit mineable gold.
I am going out on a limb and going to say that we are heading for sustained $2000 + per oz gold price.
In turn it is quite possible to see $250 per oz proven in the ground.
I think the President of IMG is foolish not to do a hostile of this company right now.
I think a $1 bid could net them 70% of the stock.
With shareholder fatigue in full swing a lot of paper would capitulate at that price.
This would be bad for us. I am doing my bit to support the stock but cannot do it alone. Step up to the plate fellow posters. The current weakness is coming from those that did the last financing who will hold the warrants for a risk free profit at .75 and sell their current holdings at the price they paid for them.

Personally I am looking for drill results. I think that IMG and MXI are in possesion of results and should be declaring those results to the owners(that is us last I checked)

Mr Isenor promised us results(from live interview) from the lab every 10 days or so one month ago. I would think that if they do not have the results due to problems at the lab they also have a responsibilty to let us know that as well.

This stock will move upwards gradually as results come out. But they have to release the results.
We may have to diamond drill our way up to 2 million ozs to get north of a $1 but I think it can be done with current cash reserves. Those results coupled with RAB drilling could make this soar.

Merrex Gold Begins Exploration on the Kakadian Permit, West Mali

This stock is worth $2 or $3 based on proven deposits, it is just a matter of time until there is either a buyout or a deal made. Most likely with Iamgold.

IMO

Merrex is starting to pick up! This is just the tip, check out the size of the find.Do your DD !

I've been an owner of this stock for a long time. Its solid, do your DD. It is just a matter of time until a full merger or take over takes place. I understand offers of over $2 have already been rejected.

This company has an office in Halifax, NS. they will answer your email and return phone calls. This not a scam.

Accumulating at these prices.....

Hit 62.5 today !!!!

This stock jumps with any volume.

WOW.......MXi is starting to realize some of its value. This is easily a $2.00 stock. Its just a matter of time until they close a deal with an intermediate producer.

Merrex Transitions Siribaya Operatorship to IAMGOLD

Great start to the day for MXI.....Up .02 on opening.

Merrex Gold Inc. is a Canadian-based mineral exploration company headquartered in Bedford, Nova Scotia. Since it’s formation through the reverse takeover of Merrex Resources Inc. by Jubilee Minerals Limited (a privately held company), Merrex has accumulated a diversified portfolio of quality gold and base metal properties in West Africa, Canada, and Turkey, and trades on the TSX Venture exchange under the symbol MXI.

Merrex’s flagship property and primary focus is the advanced Siribaya Gold Project , located in the prolific West Mali Gold Belt. Current annual production from this belt is in excess of 1.5 million ounces of gold.

Merrex's President and CEO, Greg Isenor (P.Geo), was formerly the President and CEO of Jilbey Gold Exploration, and is responsible for the discovery of the Bissa gold deposit in Burkina Faso. According to High River Gold, who took over Jilbey in August 2005, Bissa contains 43-101 compliant resources of more than 1.3 million ounces of gold. The same experienced team responsible for the Bissa discovery and the subsequent takeover by High River is now running Merrex.

Going forward, Merrex will focus 100% of its efforts on Siribaya. In order to facilitate this, Merrex’s strategy calls for the divestiture of all non-core assets into a new corporation, shares of which will be distributed among Merrex’s existing shareholders.

http://www.merrexgold.com/

Things are looking good at MXI !
Drill results keep getting better and gold keeps climbing.
Watch for big things to come.
JMO

Please delete this. It is the wrong stock.