HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 29, 2007) - Greg Isenor, P.Geo., President & CEO of Merrex Gold Inc., ("Merrex")(TSX VENTURE:MXI) makes the following announcement:
Merrex announces that 1,200,000 incentive stock options have been granted to directors, officers and consultants pursuant to Merrex's incentive stock option plan. The incentive stock option plan is a rolling stock option plan compliant with the prevailing policies of the TSX Venture Exchange. The incentive stock options granted are subject to a four month hold period and are exercisable for five years at $0.75 per share, being the closing market price on the TSX Venture Exchange on October 26, 2007.
There are a total of 5,460,000 incentive stock options outstanding after the current grant which represents 10% of the outstanding issued capital.
Merrex is a mineral resource exploration company focused on exploration for gold in West Mali, Africa, zinc in Cape Breton, Nova Scotia, gold in Red Lake, Ontario and nickel in West Voisey's Bay, Labrador, with a solid organization of people and projects to enable continued aggressive exploration, discovery and growth.
FOR FURTHER INFORMATION PLEASE CONTACT:
Merrex Gold Inc.
Greg Isenor, PGeo.
President & CEO
(902) 832-2223 (FAX)