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Merrex terminates options on N.B., N.S. properties Add to ...

Merrex Gold Inc. MXI-X , a Halifax-based junior miner, says it has terminated two non-core property options on exploration lands in New Brunswick and Nova Scotia to conserve cash and focus on more promising deposits. The company said yesterday it had ended the option on the 43 claim Sand Brook property in New Brunswick, converting a 15 per cent interest into a one per cent royalty subject to a 50 per cent buy-back for $500,000. Merrex also terminated an option on the BearBrook-Rawdon and Scrubgrass Brook-Eastville properties in Nova Scotia, keeping no residual interest. MXI-X (TSX) closed at 17 cents, unchanged.

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