NEWS RELEASE
08-31
Merit
Mining Corp. Files Notice of Intention to
Make
a Proposal Under the Bankruptcy and Insolvency Act
CFO and Two Directors Resign
December 3, 2008 ? Vancouver,
British Columbia.
Merit Mining Corp. (TSX-V:MEM) announces that it has today filed a Notice of
Intention to Make a Proposal under the Bankruptcy and Insolvency Act (the
?BIA?).
Further, Robert G. McMorran has resigned as Chief
Financial Officer and Corporate Secretary of the Company, effective November
28, 2008. In addition, James Walchuck and Hans-Arne L?orange have resigned as
Directors of the Company, effective November 28, 2008. Messrs. McMorran, Walchuck, and L?orange
have all agreed to provide advisory services to the Company on an ongoing
basis.
Further to the Company?s news release dated October
24, 2008 announcing the closing of the convertible debentures in the amount of
$4,000,000, which comprised the first tranche of a convertible debenture
financing of up to $5,000,000, the Company reports that there will be no
additional closings.
Merit Mining Corp.
Signed ?Fred Sveinson?
Fred Sveinson,
President & CEO
For further information
please contact:
Fred Sveinson at (604)
694-2344
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.