TORONTO, ONTARIO--(Marketwire - March 7, 2011) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Merc International Minerals Inc. ("Merc") (News - Market indicators) is pleased to announce that it has completed the first tranche representing $9 million of a $9.25 million non-brokered private placement financing and has appointed Mark Goodman to its Board of Directors.

Companies controlled by Ned Goodman subscribed for $3,970,000 of the private placement representing approximately 19% of total shares outstanding, rendering Mr. Goodman Merc's largest shareholder. Other significant participants in the private placement include the Jodamada Foundation, Northfield Capital Corporation, Pinetree Capital Ltd., AlphaNorth Asset Management, Sheldon Inwentash, Pat DiCapo, members of the Goodman family and certain directors of Merc.

The first tranche of the offering comprised 14,400,000 units ("Units") at $0.20 per Unit and 24,480,000 flow-through common shares ("Flow-Through Shares") at $0.25 per Flow-Through Share for aggregate gross proceeds of $9 million. Each Unit consists of one common share and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one additional common share at an exercise price of $0.35 per share for a period of 24 months following the closing date. If Merc's shares trade at or above $0.50 per share for 21 consecutive trading days, Merc may then accelerate the expiration of the Warrants upon not less than 30 days written notice. The private placement remains subject to the final approval of the TSX Venture Exchange.

In connection with this financing, Merc paid aggregate cash finders' fees of $168,750 to CoreCap Inc., a division of GFI Investment Counsel, and PowerOne Capital Markets Limited. The securities issued pursuant to the first tranche of the private placement are subject to a four month hold period expiring on July 8, 2011. The gross proceeds from the sale of the Flow-Through Shares will be used for drilling and exploration of Merc's expanding gold property position in the NWT and surrounding regions. The net proceeds from the sale of the Units will be used for general corporate purposes.

David Wiley, Merc's President and CEO, stated, "This financing provides shareholders with significant capital to advance Merc's current priority targets and future targets as we continue to grow our asset base in this fertile and historic gold mining camp. As important as the financial strength gained through this offering, is the strong sponsorship acquired, including an impressive and proactive group of seasoned mining investors. We look forward to working jointly with them."

Merc is also pleased to report that Mr. Mark Goodman has joined its Board of Directors. Mr. Goodman has been working in the financial services and mining industry since 1992. He began his career working for Dundee Corporation and has held numerous positions within the organization. In 2005 he founded Cogitore Resources Inc. ("Cogitore"), a base metal exploration company active in Northern Quebec. He has also served as President and CEO of both Valdez Gold and Cogitore and is currently the Executive Chairman of Cogitore. He sits on the Board of Directors of several public and privately held companies including Cogitore, Corona Gold Corp., Ryan Gold Corp., Energy Fuels Inc., Odyssey Resources Inc. and the Dynamic Venture Opportunities Fund (Ontario Labour Sponsored Fund).

Mr. Goodman replaces Mr. John Tait who has stepped down from the Board after serving since Merc's initial public offering.

"On behalf of the Merc Board of Directors we welcome Mark Goodman to the Board and look forward to working closely together as we develop and advance this exciting area play." said John McBride, Merc's Chairman. "We would also like to thank John Tait for his longstanding support and material contribution."

About Merc International Minerals Inc.

Merc is a Canadian-based exploration company focused on acquiring and developing gold mineral properties in the Northwest Territories and surrounding regions. Its primary land position covers approximately 61,000 acres or 25,000 hectares in the Indin Lake Gold Camp, located approximately 200 kilometres north of Yellowknife, Northwest Territories.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to Merc's financings, use of proceeds, future expansion in the Northwest Territories and opportunities in the precious metals space. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Merc to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Merc's management discussion and analysis for the year ended July 31, 2010, available on www.sedar.com. Although Merc has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Merc does not undertake to update any forward-looking information, except in accordance with applicable securities laws. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.