HALIFAX, NOVA SCOTIA — (February 18, 2014) - Greg Isenor, President and CEO of Merrex Gold Inc., ("Merrex") (TSX Venture: MXI) announces:
Update on 2014 Exploration Planning, Siribaya Gold Project
Merrex and project operator and JV partner IAMGOLD Corporation are in the final stages of settling the
2014 drill program for the Siribaya Gold Project. Details of the final program will be releases as soon as
they are available.
"In response to numerous shareholder inquiries concerning the impact of recent news of work stoppages at IAMGOLD‘s Mali joint ventures (IAMGOLD news release February 12, 2014 ‘IAMGOLD reports work stoppages at its joint venture operations in Mali‘) I want to clarify that IAMGOLD‘s news release is referring specifically to the IAMGOLD/AngloGold Ashanti Limited joint venture Sadiola and Yatela operating gold mines in Mali, and is not referring to the Siribaya joint venture program with Merrex" said Merrex president and CEO Greg Isenor. "If that news release had any implications for the Siribaya Gold Project joint venture we would have been notified. At this time planning of the 2014 exploration program is active and our discussions with IAMGOLD‘s exploration team are continuing. Details of the 2014 exploration program will be released as soon as everything is settled."
About Merrex’s Siribaya Gold Project
The Siribaya Gold Project is a 50/50 joint Merrex-IAMGOLD advanced-stage gold exploration project in West Mali comprised of approximately 910 square kilometres of gold-prolific exploration permits and permit applications pending. Exploration of the Siribaya Gold Project is conducted under a joint management committee. Expenditures to date on the Siribaya Project total approximately $37 million.
The Siribaya Gold Project presently hosts a NI 43-101 compliant gold resource estimated at 303,900 ounces grading 2.34 g/t Indicated, and 301,400 ounces grading 2.17 g/t Inferred (July 31, 2012 ACA Howe International Limited); the deposit areas are open to the north, south and at depth. Numerous other gold-anomalous target areas have been identified by geochemistry and require drilling.
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 primarily a West African 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.
On Behalf of the Board
Gregory Isenor, P.Geo. President & CEO
Merrex Gold Inc.
Suite 802, 1550 Bedford Highway, Bedford, NS B4A 1E6
Tel.: (902) 832-5555 Fax: (902) 832-2223
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.