Merrex Gold Receives Court Approval in Connection with Proposed Plan of Arrangement with Iamgold Corporation

Halifax, February 27, 2017 - Merrex Gold Inc. ("Merrex" or the "Company") (TSX Venture: MXI) is pleased to announce that the British Columbia Supreme Court issued a final order today approving the proposed acquisition of all of the outstanding securities of Merrex by IAMGold Corporation pursuant to a statutory plan of arrangement (the "Arrangement"). The Arrangement was also overwhelmingly approved at a special meeting of Merrex Securityholders (the "Meeting") held on February 22, 2017 by 99.97% of the Merrex securities voted at the Meeting on the Arrangement.

Completion of the Arrangement remains conditional on certain closing conditions customary for transactions of this nature pursuant to the terms of the arrangement agreement dated December 21, 2016. Subject to the satisfaction or waiver of all such closing conditions, it is anticipated that the Arrangement will be completed on February 28, 2017.


About Merrex Gold Inc.

Merrex is primarily a West African focused gold exploration company with experienced management, a solid exploration team, a prominent gold-producer as a JV partner and an expanding gold resource.

For further details about the Company's exploration activities visit Merrex's website at www.merrexgold.com. To be added to Merrex's email contact list please email your request to info@merrexgold.com.


On Behalf of the Board

Gregory Isenor
Gregory Isenor, P.Geo. President & CEO



MERREXGOLD
Suite 802, 1550 Bedford Highway
Bedford, NS B4A 1E6
Tel.: (902) 832-5555
Fax: (902) 832-2223



Forward Looking Statement

This release contains certain "forward-looking information" under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company's current internal expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects and opportunities of the Company and IAMGOLD will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals.

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.

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