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Jun 02, 2015
Reconnaissance Exploration Team Reports Grab Samples to 19.40 g/t from Karita Gold Project, Guinea
HALIFAX, NOVA SCOTIA -- (June 2, 2015) - Greg Isenor, President and CEO of Merrex Gold Inc., ("Merrex" or the "Company") (TSX Venture: MXI) announces:

Reconnaissance Exploration Team at Karita Gold Project, Guinea Identifies Gold up to 19.40 g/t, Prepares for 2015 Phase 1 Exploration Program

A reconnaissance exploration team has been active for the past three weeks on Merrex's 100% owned Karita Gold Project property prospecting, collecting grab samples and preparing for Merrex's 2015 Phase 1 exploration program.

Highlights of Grab Samples by Reconnaissance Team

Sample KTR15-006 19.40 g/t gold
Sample KTR15-007 15.20 g/t gold
Sample KTR15-008 12.80 g/t gold

The 2015 Phase 1 Exploration Program

The planned Phase 1 exploration program will include further prospecting, mapping, rock sampling, and soil and termite mound sampling over portions of the 2 kilometre projected extension of the 1.2 kilometre Diakha discovery zone. The Phase 1 program will also provide the data and control for drill target identification for a drilling program to start after the rainy season.

The Reconnaissance Exploration Team

As this is Merrex's first exploration work in Guinea and its first exploration program on Karita, the reconnaissance team's mandate was to ensure that the 2015 Phase 1 program will launch efficiently and smoothly, including both physical logistics and community relations.

The reconnaissance team, including the principal of Merrex's strategic partner Touba Mining, met with local officials, including village chiefs and community leaders, border officials and local artisanal miners providing evidence of Merrex's authority to explore in the region emphasizing Merrex's respect for the local community and workers. The location for a temporary field camp was selected, food and other supplies sourced and local laborers identified for training for the soil and termite mound sampling program. Access routes to and around the planned exploration areas were mapped and essential field access roads are being refurbished.

The reconnaissance team, including Malian and Guinean geologists, were also tasked with some first pass prospecting and sampling along the trend and in an area of active artisanal (orpailleur) workings similar to the extensive artisanal workings which featured so prominently at the Diakha gold discovery zone. Selected grab samples were taken and submitted to ALS Laboratories in Bamako for analysis. All 30 of the samples taken were anomalous for gold and 14 assayed at greater than 1.0 g/t with three samples at greater than 10 g/t. See the Table of Significant Grab Sample Assays immediately below.

Table of Significant Grab Sample Assays

Sample KTR15-003 2.05 g/t
Sample KTR15-004 2.40 g/t
Sample KTR15-005 7.00 g/t
Sample KTR15-006 19.40 g/t
Sample KTR15-007 15.20 g/t
Sample KTR15-008 12.80 g/t
Sample KTR15-012 4.14 g/t
Sample KTR15-017 1.24 g/t
Sample KTR15-018 4.15 g/t
Sample KTR15-024 3.83 g/t
Sample KTR15-027 1.00 g/t
Sample KTR15-030 1.30 g/t
Sample KTR15-032 8.34 g/t
Sample KTR15-033 1.33 g/t

During the period May 22-23 2015, Merrex President Greg Isenor visited the Karita project, met with the local chief and toured the property including an inspection of the artisanal workings.

Commentary

"Our reconnaissance exploration team has done a great job. The community leaders' response was welcoming and Merrex is now well-positioned to begin the 2015 Phase I exploration program and planning for that program is continuing" said Merrex President Greg Isenor. "The workings that I visited on Karita are on strike from the Diakha discovery zone. The rocks show alteration, including haematite and tourmaline, and the style of mineralization appears similar to Diakha. These are active workings and I was able to observe the local artisanal miners hand-mining, crushing the mineralized rocks, and panning the free (visible) gold. I also inspected the areas where the reconnaissance team took the rock samples which were very encouraging with one sample running at 19.40 g/t gold. We are actively planning the Phase I program and anticipate that the exploration approach that was so successful at Diakha can be applied at Karita."

About the Karita Gold Project, Guinea

Merrex first recognized the significance of the Karita permit area over two years ago, and after protracted efforts including numerous trips to Guinea by our strategic partner to settle issues with the Department of Mines, Guinea Merrex was successful in securing the Karita Authorization for Exploration from the Guinean government.

The Karita Gold Project is an approximately 100 km2 concession located at the tri-point boundary of Guinea, Mali and Senegal. It is also on strike 1.5 kilometres north of Merrex's Diakha gold discovery, which is located in the western-most portion of the 760 km2 Siribaya joint venture exploration concessions, and approximately 7 kilometres south along strike from IAMGOLD's Boto gold deposit (scoping study in progress). This is also that same structure as B2Gold's (formerly Papillon's) Fekola deposit (permitted for production) approximately 15 kilometres to the north. Importantly, the Karita Gold Project hosts approximately two kilometres of the Fekola-Boto-Diakha gold trend which is in the southern portion of the prolific Mali-Senegal shear.

See Photo Artisanal Workings at Karita.

See Photo After hand-mining the artisanal workers crush the mineralized rock and pan the visible free gold at Karita.

Karita Gold Project, Guinea

Merrex was granted the Authorization for Exploration for the 100 km2 Karita permit area in Guinea in March, 2015. The Karita permit area is 100% owned by Merrex, not within the area of influence of the Merrex-Iamgold Siribaya joint venture, and hosts a significant piece of the Feloka-Boto-Diakha trend. It is contiguous south of IAMGOLD's Boto deposit and north of the Diakha discovery zone and also hosts extensive artisanal workings, also prominent at the Diakha discovery zone.

See Map 1 for the location of the Karita Permit.

Together, Merrex's Siribaya Gold Project, Mali and Karita Gold Project, Guinea total 860 km2.

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. Rock samples from Karita were assayed at the ALS Chemex Analytical Laboratory in Bamako, Mali, using a standard fire assay with a 50 gram charge and an Atomic Absorption finish.

Merrex is primarily a West African focused gold exploration company with experienced management, a solid exploration team, a prominent gold-producer as a JV partner and an expanding gold resource.
Together, Merrex's Siribaya Gold Project, Mali and Karita Gold Project, Guinea total 860 km2.

For further details about the Company's exploration activities or to view the most recent corporate presentation visit Merrex's website at www.merrexgold.com. To be added to Merrex's email contact list please email your request to [email protected]

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
[email protected]

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 news release.
 
 

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