HALIFAX, NOVA SCOTIA -- (August 20, 2013) - Greg Isenor, President and CEO of Merrex Gold Inc. ("Merrex") (TSX Venture: MXI) announces:
Precious Metals Equity Research Recommends Merrex Gold an "outstanding buy"
"Independent analyst Ed Bugos writing for Precious Metal s Equity Research has prepared a very thorough update analysis on the explorers active in our corner of Mali" said Merrex President and CEO Greg Isenor. "He has reviewed in depth Papillion Resources' Fekola deposit, Iamgold's Boto deposit, and Merrex's Siribaya JV project, and he has a sophisticated appreciation of the significance of the strengths of three explorers' projects and the potential interplay between them."
Some excerpts from the Precious Metals Equity Research report follow: [The full report is available at http://www.merrexgold.com/i/pdf/130808-PreciousMetalsEquityResearch.pdf or by email request from PMER at firstname.lastname@example.org]
"I have always argued that Merrex's Siribaya project (...shared 50/50 with IAMGOLD) is far more prospective than most of IAMGOLD's other exploration prospects in West Africa, and at least as prospective as Papillon's.
Based on the geochem and other data that we've seen, and what I know of the structures, I think the 910 sq km Siribaya permit area represents some of the best exploration real estate in the developing district south of Papillon's Fekola...and I believe that IAMGOLD knows it.
That could be one reason it agreed to increase its stake in Merrex .... [to 19.34%].
In light of developments in this district, and share prices, we have to continue to rate Merrex as an outstanding buy for our speculative capital."
Mr. Bugos' update report is recommended reading for all investors interested in what he describes as "Mali's newest up and coming gold district".
About the Siribaya Gold Project
The Siribaya Gold Project is a 50/50 joint Merrex-IAMGOLD advanced-stage gold exploration project in West Mali comprised of approximately 910 square kilometres of gold-prolific exploration permits and permit applications pending. Exploration of the Siribaya Gold Project is conducted under a joint management committee. Expenditures to date on the Siribaya Project total approximately $35 million.
The Siribaya Gold Project presently hosts a NI 43-101 compliant gold resource estimated at 303,900 ounces grading 2.34 g/t Indicated, and 301,400 ounces grading 2.17 g/t Inferred (July 31, 2012 ACA Howe International Limited); the deposit areas are open to the north, south and at depth. Numerous other gold-anomalous target areas have been identified by geochemistry and require drilling.
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 primarily a West African focused gold exploration company with experienced management, a solid exploration team, a prominent gold-producer as a partner and an expanding gold resource.
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@example.com.
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.
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