February 19, 2008 – Vancouver, British Columbia. 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, President & CEO
For further information please contact:
Fred Sveinson at (604) 694-2344
For Investor Relations Information Contact:
MarketSmart Communications (604) 261-4466
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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.