Meritus Closes Financing
Vancouver, B.C.: Meritus Minerals Ltd. (OOTC:MERMF) (TSXV:MER) (MML)(TSX-V - MER) Meritus Minerals Ltd is pleased to announce that the TSX-Venture Exchange has accepted for filing documentation with respect to the closing of the second and final tranche of its non-brokered private placement previously announced on July 30, 2010. The Company will issue 631,400 units (the "Units") at a price of $0.10 per Unit. Each Unit consists of one common share and one share purchase warrant with each whole warrant entitling the holder to acquire one additional common share at a price of $0.15 per share for a period of one year from closing.
There is a statutory hold period of 4 months plus 1 day, expiring February 6, 2011 on all shares issued pursuant to this private placement.
As previously announced, a second drill rig has now arrived and drilling continues on our Gutain Davaa property in Mongolia. Results will be released as they become available.
Meritus Minerals Ltd (C.MER) is a mineral exploration company committed to building shareholder value through the acquisition of base and precious metal properties. For additional information, contact Richard Schnoor at 604 618-9327.
On Behalf of the Board of Directors
Meritus Minerals Ltd.
Terence E. Bates - CEO and President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further Information please visit our website at: www.meritusminerals.com