NEWS RELEASE Merrex Gold Diakha Diamond Drilling Results including 19 metres averaging 9.28g/t Au from the Siribaya Gold Project, Mali

HALIFAX, NOVA SCOTIA -- (August 30, 2016) - Greg Isenor, President and CEO of Merrex Gold Inc., ("Merrex" or the "Company") (TSX Venture: MXI) announces:

Highlights

  • 19 holes totaling 6,414 metres completed

  • All completed drill holes intersected gold mineralization

  • Hole 185 - 19 metres of 9.28g/t Au

  • Hole 189 - 18 metres of 6.73g/t Au

  • Hole 179 - 38 Metres of 2.37g/t Au

  • Mineralization extended along strike and down dip

The 2016 Diamond Drilling Program

The 2016 diamond drilling program within the current Diakha resource area commenced in the second half of March and finished in late July, 2016 with two rigs active. The drill program was designed as a follow-up to the initial 2015 resource estimate (see details below) and further evaluated the geological model and controls on gold mineralization. The program specifically targeted areas with high-grade intersections near the bottom of the resource pit shell to test the down dip extension of high-grade mineralization.

A total of 19 holes totaling 6,414 metres were completed. All completed holes returned significant gold intercepts including hole 185 returning 19 metres of 9.28g/t Au, hole 189 returning 18 metres of 6.73g/t Au and hole 179 returning 38 metres of 2.37g/t Au. (See Table of Significant Assays below for a complete listing of significant assay results. The Table of Significant Assays was provided by the project operator.)

Although the interpretation of the drilling cross sections is still in progress, the 2016 diamond drilling results are believed to have extended mineralized zones along strike and down-dip where tested.

Additionally, some of the best results are in holes at the north and south ends of the resource area. To the north, where the southern resource area meets the newly permitted northern Diakha strike extension area, the diamond drill assay intervals together with the 2016 RC drill results in the northern extension area, (see News Release July 6, 2016) provide further evidence of the potential to expand the resource to the north with additional drilling. To the south, the strong diamond drill assay intervals, particularly in hole #185, may suggest continuity with previous high grade assay intervals previously reported in this area.

See Map 1 below for locations of drill holes in the southern Diakha resource area reported here.

These diamond drill results, and the RC drill results released July 6, 2016, will be incorporated in an updated resource model as warranted. (See 2015 Resource Estimate Table below.)

Commentary

"We are extremely pleased with the positive results from the 2016 diamond drilling program completed in the Diakha resource area" said Merrex president Greg Isenor. The continuity so far observed along strike and down-dip extensions of

the gold mineralization within the Diakha deposit area is encouraging. Significant additional drilling, both RC and core, will be required to establish the combined size and grade of the expanding 800 metre southern Diakha resource area and the developing 600 metre northern Diakha mineralized zone."

Both this diamond drilling in the Diakha resource area and the RC drilling to the north of the resource area are expected to add to the current resource. Further drilling is required.

Map 1 - Diakha Southern Region 2016 Diamond Drill Results Only Table of Significant Assays

Diakha Deposit Southern Region - Diamond Drill Results - 2016

Hole#

UTM WGS84 Zone29

AZ

DIP

EOH

From

To

Length

Gold

Gold (capped*)

Easting

Northing

Elevation

Degree

Degree

(m)

(m)

(m)

(m)

(g/t)

(g/t)

SRD16-172

240711

1369753

156

115

-60

303

20

24

4

0.66

0.66

Including

88

116

28

0.99

0.99

94

98

4

2.78

2.78

Including

101

109

8

1.26

1.26

229

231

2

5.33

5.33

SRD16-173

240811

1369710

161

115

-60

16

0

3

3

0.83

0.83

SRD16-174

240815

1369708

171

115

-60

300

13

23

10

1.10

1.10

Including

29

40

11

0.99

0.99

29

32

3

1.52

1.52

Including

35

40

5

1.21

1.21

Including

48

53

5

6.53

6.53

62

65

3

0.53

0.53

72

80

8

1.44

1.44

73

75

4

4.79

4.79

Including

96

102

6

0.59

0.59

96

98

2

1.18

1.18

120

124

4

1.92

1.92

198

204

6

0.91

0.91

213

216

3

7.42

7.42

SRD16-175

240622

1369796

152

115

-60

400

58

60

2

1.47

1.47

Including

117

119

2

0.91

0.91

235

245

10

2.69

2.69

235

241

6

4.28

4.28

296

298

2

2.59

2.59

SRD16-176

240755

1369456

169

115

-60

250

75

77

2

1.38

1.38

Including

192

196

4

0.80

0.80

205

214

9

1.95

1.95

207

212

5

3.16

3.16

SRD16-177

240670

1369497

168

115

-60

375

123

125

2

0.56

0.56

190

193

3

0.72

0.72

200

204

4

0.97

0.97

214

216

2

0.56

0.56

272

276

4

0.73

0.73

291

293

2

0.93

0.93

300

306

6

0.70

0.70

315

325

10

0.77

0.77

335

339

4

1.11

1.11

SRD16-178

240613

1369522

171

115

-60

450.6

237

242

5

1.42

1.42

412

416

4

0.98

0.98

SRD16-179

240772

1369338

170

115

-60

251.3

78

116

38

2.37

1.92

Including

83

98

15

3.84

2.71

Including

104

111

7

3.62

3.62

176

178

2

2.60

2.60

238

249

11

2.05

2.05

SRD16-180

240664

1369388

167

115

-60

350

201

205

4

5.61

5.61

335

339

4

0.85

0.85

SRD16-181

240616

1369632

160

115

-60

450

74

78

4

0.67

0.67

Including

85

87

2

0.65

0.65

100

105

5

0.68

0.68

161

166

5

1.36

1.36

161

163

2

2.40

2.40

222

225

3

2.37

2.37

415

417

2

0.53

0.53

SRD16-182

240907

1369167

162

115

-60

250

25

30

5

3.06

3.06

Including

26

28

2

7.02

7.02

56

59

3

0.50

0.50

66

68

2

0.63

0.63

78

83

5

0.58

0.58

104

106

2

0.75

0.75

SRD16-183

240824

1369206

172

115

-60

350.5

115

127

12

0.60

0.60

Merrex Gold Inc. published this content on 30 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 August 2016 15:58:06 UTC.

Original documenthttp://www.merrexgold.com/i/pdf/August 30 2016 DD drill results FINAL.pdf

Public permalinkhttp://www.publicnow.com/view/F613C5698ECE1754E89322B5EF95DA6063DA68A2