NEWS
RELEASE 08-05
Merit
Signs Concentrate Off-Take Agreement with Glencore Ltd.
for
Greenwood
Gold Project
February 19,
2008 –
Vancouver. Merit Mining Corp. (TSX-V: MEM)
reports
that it has signed a concentrate off-take agreement with Glencore Ltd. to sell
the copper-gold concentrate from its Greenwood Gold Project near Greenwood,
British Columbia.
Glencore
Ltd., is a subsidiary of Glencore International AG, one of the world’s largest
suppliers of a wide range of commodities and raw materials to industrial consumers. Headquartered in
Baar,
Switzerland,
Glencore is a privately held company, owned by its management and
employees.
In
addition, a high grade gravity gold concentrate will also be produced at the
Greenwood Gold mill for shipment and sale to a North American refinery.
Mill
construction at the Greenwood Gold Project remains on schedule for a planned
start up in March 2008 to commence processing of a 10,000 tonne underground bulk
sample from the Lexington-Grenoble mine. The permit application for full
production at 200 tonnes per day was submitted in November 2007 and the Company
anticipates that it will receive its production permit prior to the completion
of processing of the bulk sample enabling production to continue at design
capacity during the second quarter of 2008.
Merit
Mining Corp.
“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.