NEWS RELEASE 08-25
Merit
Mining expects positive cash flow by late 2008
August 18, 2008 ? Vancouver,
British Columbia.
Merit Mining Corp. (TSX-V:MEM) reports that in order for the Company to achieve
positive cash flow from its Greenwood operation by late 2008 and in light of
the current financial markets, it has temporarily suspended exploration work at
its J&L polymetallic exploration project, located
near Revelstoke, BC.
The aim of the J&L program is to reconfirm the
historical resource of the Main Zone deposit and prepare a National Instrument
43-101 compliant resource. The delay in the J&L program is expected to
bring Merit into cash positive territory before the end of 2008.
Certain personnel and equipment from the J&L
project are being redeployed to the Company?s Greenwood Gold Mine in order to optimize
operations and cash flow.
The J&L camp and infrastructure
will be put on care and maintenance, allowing for restart of the exploration
program on short notice.
Merit Mining Corp.
Signed
?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.