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Analyst & News Coverage

September 20, 2014
GRIT says Merrex was "the main driver" of the fund's improved Net Asset Value and is now "third largest holding" at just <10% !

 GRIT fund manager David Hutchins comments in his monthly report for August.

"A good month for the trust, with the NAV improving by 4.2%, against a background of falls in both the Euro Global Mining Index and the FTSE AIM Basic Resource Index. The main driver behind the improvement in NAV was the strong performance of Merrex Gold during the month, following the announcement of some excellent drill results.

Greg Isenor, President and CEO of Merrex Gold Inc stated in the company press release that "the Diakha discovery zone is open in all directions and at depth and it is worth noting that DD hole 148, for example, intersected a strongly mineralized 34 metre zone grading 4.85 g/t (including 19 m @ 7.31 g/t and including 4 m @ 19.66 g/t) between 127 and 161 metres evidencing that the Diakha discovery zone mineralization does extend to depth with good grades".

The market responded very positively to the news which saw the share price peak briefly peak at over C$0.20 on high volume. We remain enthusiastic about the potential for Merrex, although we did take the opportunity to reduce the holding slightly. Regardless of the reduction in the holding, at month end, Merrex was our third largest holding at just under 10% of the portfolio.
File: August 2014 newsletter.pdf
 549 KB, approx. 1 minute, 43 seconds at 56.6Kbps
September 11, 2014
GRIT fund manager David Hutchins during Minesite comments that Merrex's Diakha drill results were 'spectacular'
    Publisher: Minesite
    Author: Alastair Ford
 An interview with GRIT fund manager David Hutchins including his observations on the state of the markets for junior explorers with Merrex listed first in their mention of noteworthy holdings!!

"Among the more notable companies in the GRIT portfolio are Merrex Gold, which has done well with exploration in West Africa not far away from IAMGOLD. The long game centres around a possible takeout. But in the medium term, Merrex has been delivering what David calls spectacular drill results."

You can read David Hutchin's whole interview here. Registration to Minesite is required to read the interview but it is free.
August 26, 2014
GRIT fund manager David Hutchins featured on Proactive Investors One-2-One Interview forum highlights Merrex as top performer
    Publisher: Proactive Investors
 GRIT fund manager David Hutchins is interviewed by Sarah Lowther and he highlights Merrex as a special situation in the gold sector!

You can view David Hutchin's interview here. Merrex is highlighted just after the 4 minute mark on the video.
August 25, 2014
Merrex in Top 5 Weekly Price Gains on TSX! - That fact is right but they got the reasons wrong. Read and see why.
    Publisher: Resource Investing News
 Says Resource Investing News: "Merrex Gold saw share prices jump 26.09 percent to hit $0.15 per share..." CORRECT

Says Resource Investing News: Merrex's price jumped "...after its partner IAMGOLD released its second quarter unaudited financial results, which revealed net cash from operations of $96.8 million..." WRONG

It is highly unlikely that IAMGOLD's financial performance would impact Merrex's trading price. That timing was wholly coincidental. Merrex's price jumped because of the exciting new gold discovery at Diakha. That plus president Greg Isenor's recent appearance on BNN when he emphasized that the Daikha discovery was like holding a tiger by the tail.

You can view president Greg Isenor's BNN interview here. It comes on right after the advertisements.
August 05, 2014
Sprott's Andrew Jackson says "West Africa is Primed for Gold Discoveries". This is a 'must read' article for Merrex shareholders!
    Publisher: Sprott's Thoughts
    Author: Henry Bonner
 Says Sprott's Andrew Jackson "There have probably been more significant discoveries in West Africa in the last 5 or 10 years than in any other part of the world, so it's currently a focus for me for two main reasons. First, West Africa has the right geology for gold deposits -- that's the main reason. The second reason is that it's a relatively politically stable part of Africa."

Andrew identifies the Kinieba Inlier in West Mali, the location of Merrex's new Diakha gold discovery, as his top location and comments "In western...Mali, the infrastructure is again acceptable. The civil war in the northeast of the country and a period of government instability actually had little impact on exploration companies operating in the southwest of the country."

Read his entire article for a great summary of why Merrex is at exactly the right place at precisely the right time!

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