May 26, 2011
Merrex Siribaya Camps Expansions and Falémé River Bridge
HALIFAX, NOVA SCOTIA - (Marketwire May 26, 2011) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex") (TSX Venture: MXI) is pleased to provide the following update on the camp expansion activities at the Siribaya Gold Project, West Mali.
Expansions and Upgrades at Berekegni and Hafia Camps
Expansion continues at the Merrex-IAMGold Siribaya Gold Project, West Mali with both new construction, and rehabilitation and upgrading, at both the Berekegni (Siribaya) and Hafia (Babara) camps.
Additional lodging is being constructed at both camps to accommodate increased staffing including diamond drill crews. Refurbishment of present accommodations is planned. Increased kitchen capacity and dining areas are under construction.
A new office of approximately 200 m2 has been built as well as an expanded drill core handling shed. (See photographs attached.)
Drill Core Handling Shed
Falémé River Bridge Project
The location of the new bridge to be constructed across the Falémé River has been decided. Once constructed, the Falémé River bridge will allow for year-round access to the Siribaya Gold Project for both personnel and heavy equipment without the necessity of fording the river, which is impassable during the seasonal rains and the subsequent river flooding period from July to December. The final geotechnical report on soils for the Falémé River Bridge feasibility study has been received and accepted, and the final bridge design has been received, subject to final permitting from the Mali Government. IAMGold as Operator of the Siribaya Gold Project and Delta/Rockgate agreed to proceed with the Falémé River Bridge Construction Project at a budgeted cost of approximately 1.4M$ US to be shared equally between the two parties.
About the Siribaya Gold Project
The 848 km2 Siribaya Gold Project in West Mali is Merrex's flagship property. The Siribaya Gold Project is being explored in conjunction with Merrex's 50% earn-in partner and project operator IAMGOLD Corporation. The 2011 exploration program within the Siribaya mega-structure includes 17,000 metres of RC drilling to further extend the explored strike length of the Siribaya trends from three to six kilometres, and 10,000 metres of diamond drilling to increase the present NI 43-101 resource.
Outside of the Siribaya structures new mineralized trends have been discovered: Siribaya West which lies to the west of the Bambadinka trend, and the Babara-Kofia trends which lie to the east of Siribaya on the Babara and Kofia permits. These trends will be further tested during the 2011 field season.
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
Merrex Gold Inc.
1550 Bedford Highway
Suite 802, Sun Tower
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.
New 200 m2 Office
Drill Core Handling Shed
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