VANCOUVER, June 2 /CNW/ - Merit Mining Corp. (TSX-V: MEM) reports that
the mining and processing of a 10,000 underground bulk sample from the
Lexington-Grenoble Mine has been completed and commercial production at its
Greenwood Mill near Greenwood, BC was reached on June 1, 2008.
On May 8, 2008 the Company received its operating permits for the
Lexington-Grenoble gold/copper Mine and Greenwood Mill to operate at a
production rate of 72,000 tonnes per annum (~ 200 tonnes per day).
As at May 21, 2008, 10,500 tonnes had been processed through the
Greenwood Mill. Shipping of the first 300 tonnes of copper/gold flotation
concentrate to an offshore smelter has commenced, pursuant to an offtake sales
agreement with Glencore Ltd. The flotation concentrate averages 22% copper and
27 grams per tonne gold. In addition, 30.7 kilograms of gravity gold
concentrate containing 17,040 grams (548 ounces of gold) has been shipped for
The Company will receive its first revenue from operations at its
Greenwood Gold Project during this quarter.
Merit Mining Corp.
Signed "Fred Sveinson"
Fred Sveinson, President & CEO
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.
For further information:
For further information: Fred Sveinson, at (604) 694-2344; For Investor
Relations information contact: MarketSmart Communications, (604) 261-4466,
(Toll Free 1-877-261-4466)