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Merrex-IAMGOLD Gold-Siribaya Project Update-Exploration to Continue

Merrex Gold Inc. (MXI.V) announces that for the Siribaya Gold Project, Merrex management's discussions with project operator IAMGOLD Corporation (IMG.TO) have confirmed that exploration will continue at Siribaya during 2013.

"The extent to which IAMGOLD's recently announced cost savings including exploration cutbacks might have impacted future exploration progress on the Siribaya Project has been a concern to the Merrex shareholders," Merrex said in a statement. "We are pleased to report that exploration on the Siribaya Project will continue notwithstanding IAMGOLD's overall exploration cutbacks."

Consistent with IAMGOLD's continuing commitment to the Siribaya Gold Project, the formal Joint Venture Operating Agreement has been executed.

IAMGOLD is down 10 cents (1.35%) to $7.29 mid-morning.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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