Sep 14, 2011
Merrex - Stock Options
HALIFAX, NOVA SCOTIA -- (Marketwire - September 14, 2011) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX Venture: MXI) announces the grant of incentive stock options.
Merrex announces that 4,265,000 incentive stock options have been granted to directors, officers, employees and consultants pursuant to Merrex's rolling incentive stock option plan. The stock options are exercisable for five years at $0.51 per share. The closing price of Merrex shares on the TSX Venture Exchange on September 13, 2011 was $0.51.
Merrex's Siribaya Gold Project
The Siribaya Gold Project is a Merrex-IAMGOLD Corporation joint project with IAMGOLD Corporation earning-in for 50% of the project. The Siribaya Gold Project comprises 848 square kilometres of contiguous exploration permits in West Mali including the Siribaya mega-structure. The Siribaya mega-structure has a CIM compliant NI 43-101 resource estimate of 4,015,000 tonnes grading 2.39 g/t Indicated (308,200 oz Au) and 946,000 tonnes grading 2.29 g/t Inferred (69,500 oz Au), and is open to the north, south and at depth.
For further details about the Siribaya Gold Project visit Merrex's website at www.merrexgold.com.
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.
You can view the Next News Releases item: Wed Sep 21, 2011, Merrex Siribaya Gold Project: IAMGold comments on Siribaya in a recent News Release
You can view the Previous News Releases item: Tue Sep 13, 2011, Merrex Diamond Drilling Expands 1B Mineralized Zone
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