Merrex Gold Inc.: Land Acquisition and
Exploration Updateon West Mali Gold Project

MAY 29, 2006 - 23:00 ET

HALIFAX, NOVA SCOTIA--(CCNMatthews - May 29, 2006) - Greg Isenor, President and CEO of Merrex Gold Inc. (TSX VENTURE:MXI), ("Merrex") is pleased to provide shareholders with the following update on its progress in Mali:

Strategic Alliance with Touba Mining

Merrex's news release of Friday, May 26, 2006 confirmed that the TSX had accepted for filing Merrex's Option Agreement with Societe d'explorations Miniera Touba SARL ("Touba Mining"). The nature of the Corporation's relationship with Touba is similar to a strategic alliance whereby the Corporation, with assistance from Touba Mining, will acquire mineral permits in Mali, West Africa.

The terms of the agreement with Touba Mining allow Merrex to earn up to a 95% interest in certain West African mining permits within a 4,100 square kilometer defined area of interest for cash payments of $85,000 and exploration expenditures of $750,000 over three years.

If optioned interests are earned and if a mine is developed Merrex's interest may be diluted to 75% due to a "back-in" right which, under the mining laws of Mali, allows the government to acquire up to a 20% interest in mining projects.

All optioned permits are subject to a 5% Net Profit Interest in favour of Touba Mining.

Permits Acquired to Date

To date Merrex has either acquired or is in the process of acquiring mineral permits which will result in a significant land position in Mali. These permits are located primarily in the southern portion of what is referred to as the West Mali Gold Belt. Current production from the West Mali Gold Belt is in excess of 1.5 mm oz of gold per year from such large gold deposits as the Sadiola, Loulo and Tabakoto mines.

Merrex, with the assistance of consultant Jean-Marc Gagnon and strategic partner Touba Mining, has acquired the 132 sq km Siribaya permit and is in the final stages of acquiring three additional contiguous permits: Taya Malea (177 sq km), Kofia (147 sq km) and Babara (142 sq km). This land position is highly prospective having significant geological structures, associated anomalous gold zones, extensive orpailleur alluvial gold workings and artisanal underground workings. Merrex is in various stages of negotiations to acquire other mineral permits which, if successful, would result in a contiguous land position of approximately 1000 sq km in the southern portion of the West Mali Gold Belt.

The Kakadian Permit

In addition Merrex has acquired entered into a letter of intent with la Societe Dianisse SUARL ("Dianesse") of Djelibougou, Bamako , Mali to option the 109 sq km Kakadian Permit which is located in the northern portion of the West Mali Gold Belt and is approximately 15 km west of the Sadiola gold mine. The cost of this option is approximately $70,000 over two years. The Kakadian Permit was acquired by Merrex independently and is outside the Touba area of interest. This option is subject to completion of formal agreements and regulatory acceptance.

Previous Work

Previous work on Merrex's mineral permits in the southern portion of the West Mali Gold Belt consists of widespread prospecting, mapping and geochemical surveying with expenditures totaling more than $1,000,000. Merrex has acquired the complete data base of this historical work.

This prior work, carried out during the mid-1990s, outlined several kilometers of anomalous gold zones associated with the mapped structures and gold showings. In particular, on the Siribaya permit the Berekegny gold workings were identified but the identified targets were never followed up.

Work Completed to Date by Merrex

An initial field program over the Touba Mining permit areas was designed to locate, verify and detail some of the previously outlined anomalous gold zones and showings. This work consisted of detailed geochemical surveys, prospecting and geophysics.

Two key individuals, an experienced, bilingual, Canadian expatriate exploration manager and a Malian field manager, have been contracted. Experienced Malian geologists, field technicians, camp crews and labourers have been hired and field vehicles secured. In addition, an office/staff house was established in Bamako, Mali through our strategic partner, Touba Mining.

Field camps with office and communication facilities have been set-up at both Berekegny on the Siribaya Permit and at Hafia on the Babara Permit. Roads to each camp were upgraded significantly to allow for easy access and supply delivery.

Ten separate grids totaling approximately 350 line kilometers were established over priority target areas on the Siribaya, Taya Malea and Babara permits and approximately 9500 soil samples were collected. A total of 130 kilometers of IP geophysical survey was completed to detail the Berekegny gold showing. Test pitting and trenching in selected areas is currently underway.

Results of prospecting, soil sampling, pitting, trenching and geophysics will be released following receipt, verification and compilation of the data.

"Merrex worked aggressively and diligently and was extremely successful in acquiring a significant and expanding land position" commented Gregory Isenor, P.Geo., president and CEO of Merrex Gold. "Mali is a very stable country. Our permits are in a known gold producing belt. We secured an extensive geological data base which will both assist and complement our land assembly and planned exploration work. Merrex's assembled land position, with its previously mapped structures, associated anomalous gold zones and gold showings, appears to have all the basic geological prerequisites for the creation and localization of gold deposits. In short, we already know there is gold in the system in this area."

Gregory Isenor, P. Geo., is the named Qualified Person who has reviewed this news release.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS RELEASE.

FOR FURTHER INFORMATION PLEASE CONTACT:

Merrex Gold Inc. - Halifax office
Greg Isenor
President
(902) 832-5555

or

Merrex Gold Inc. - Vancouver office
John Cumming
Director
(604) 484-6613
info@merrexgold.com
www.merrexgold.com