Merc Announces Close of Flow-Through Private Placement

Merc International Minerals Inc. announce that it has completed a non-brokered private placement flow-through unit financing at $0.40 per unit for gross proceeds of Cdn. $1,999,900. Each unit consists of one flow-through common share and one-half of one non-flow-through common share purchase warrant, exercisable at $0.75 per common share for a period of 12 months following the closing date, and $1.00 per common share for a period of 13 to 24 months following the closing date.

If, at any time six months or more following the closing date, the closing price of Merc’s common shares exceeds $1.25 for 30 consecutive business days, Merc may provide notice indicating the warrant expiry date will “accelerate” to the date set forth in the notice, which will be no earlier than 30 days following the date the notice is issued.

In connection with this financing, Merc paid finders’ fees of $70,000 and issued 100,000 broker warrants exercisable at $0.40 for a period of 24 months from the closing date. Each broker warrant is comprised of one common share and one-half of one common share purchase warrant, exercisable at $0.75 per common share for a period of 12 months following the closing date, and $1.00 per common share for a period of 13 to 24 months following the closing date.

All securities are subject to a four month hold period which expires on March 8, 2009. The net proceeds will be used for advancement of Merc’s assets and exploration.