NEWS RELEASE 08-15

Merit Mining Closes First Tranche of Private Placement

Makes $2.0 Million Option Payment on J&L Property

May 6, 2008 – Vancouver, British Columbia. Merit Mining Corp. reports that it has completed the first tranche of its previously announced non-brokered private placement offering of up to 28,571,428 shares, at $0.21 per share.  At the first closing, the Company issued 18,000,000 common shares for total gross proceeds of $3,780,000.  Securities issued at the closing are subject to a hold period until September 6, 2008.

Wega Mining ASA, an Oslo-based international mining company and Merit’s largest shareholder, subscribed for 16,000,000 common shares in the first closing of the private placement, for a total purchase price of $3,360,000.  As a result of its subscription, Wega Mining ASA now owns 121,946,683 common shares of the Company representing approximately 59.0% of the issued and outstanding shares, and also holds 47,345,636 warrants, entitling it to acquire an aggregate of up to 47,345,636 additional common shares.  Assuming the exercise of all of the outstanding warrants and options of Merit, including the warrants held by Wega Mining, Wega Mining would own 169,292,319 commons shares of Merit, representing 61.3% of the common shares on a fully diluted basis (excluding an outstanding Merit Mining convertible debenture held by Wega Mining ASA).

Proceeds of the private placement will be used by the Company for working capital for the Greenwood Gold Project, located near Greenwood, BC, and for a cash option payment on the J&L polymetallic project, which is located near Revelstoke, BC and on-going exploration at the J&L project.

The $2.0 million option payment on the J&L project has now been paid.  As a result of making this payment, the Company has completed the acquisition of an 85% undivided interest in the J&L project.  To retain its 85% interest and acquire the remaining 15% interest in the property, the Company must make payments totaling $5.79 million, in the form of cash and semi-annual advanced royalties and/or production royalties over the next six years. 

The first phase of underground development (1,000 metres) is on-going at the J&L project, with underground diamond drilling of 5,000 metres planned to commence in the summer of 2008. 

Merit Mining Corp.

Signed “Fred Sveinson”

Fred Sveinson, President & CEO

For further information please contact:

Fred Sveinson at (604) 694-2344

For Investor Relations Information Contact:

MarketSmart Communications (604) 261-4466

(Toll Free 1-877-261-4466)

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

The statements made in this News Release may contain certain forward-looking statements.  Actual events or results may differ from the Company’s expectations.  Certain risk factors may also affect the actual results achieved by the Company.