Merrex Gold Sells Sutherlands Pond and Hungry Hill Properties, Newfoundland
HALIFAX, NOVA SCOTIA -- (Marketwire) -- 04/14/11 -- Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ('Merrex') (TSX VENTURE: MXI) announces that Merrex has sold its interests in the Sutherlands Pond and Hungry Hill properties in Newfoundland to Messina Minerals Inc. ('Messina') for 500,000 common shares of Messina.
Sutherlands Pond-Hungry Hill Agreement
The Sutherlands Pond property is a 50% interest in a 50 claim property; the Hungry Hill property is a 50% interest in a 232 claim property, both in Newfoundland. Merrex sold its interests in the Sutherlands Pond and Hungry Hill properties to Messina for 500,000 common shares of Messina, retaining a 1% net smelter returns royalty subject to 50% purchase by Messina for $500,000. The disposition is 'exempt' for Merrex; the acquisition by Messina is subject to TSX approval.
Merrex is a Mali focused and well-funded 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 new website at www.merrexgold.com for more details on our Siribaya Gold Project.
On Behalf of the Board
Gregory Isenor, P.Geo., President & CEO
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.
Contacts:
Merrex Gold Inc.
Gregory Isenor, P.Geo.
President & CEO
(902) 832-5555
(902) 832-2223 (FAX)
info@merrexgold.com
