Meritus Updates License Status

Apr 13, 2012 (ACCESSWIRE-TNW via COMTEX) -- Vancouver, B.C.: Meritus Minerals Ltd. (MML) (TSX-V - MER) is pleased to advise that the Company's Mongolian consultant appointed to ensure the Company's applications for registering resources at the Company's Gutain Davaa project in Mongolia with the National Register of Reserves and Resource lodged the applications for Exploration License 6155x ("EL6155x") and Exploration License EL5575x ("EL5575x") with the Mineral Resources Council (MRC) in late February. The MRC has appointed two experts to review the applications and make recommendations and to comment on their content prior to submission to the full MRC committee for consideration. The experts have provided their initial comments on the applications and staff are currently working to make the necessary required amendments.

The resources at Gutain Davaa have not been established in accordance with NI43-101 or JORC Code requirements as Mongolia requires that such applications are submitted in compliance with the Mongolian law and system. Under this system the resources have been classified as B and C Category Reserves.

The resources (as defined under the Mongolian system) at Gutain Davaa, Toordogiin Shil Prospect, are all within EL6155x which expires on 12/8/2012. There are no drilled out resources on EL5575x which expires on 1/4/2012, and the application over this area is thus in a grey area and may not be accepted by the MRC. If this should occur the Company will no longer have title to the area covered by EL5575x. Meritus will continue to pursue all possible legal options to retain access to this area.

It is anticipated that submission of the applications revised in accordance with the advice of the appointed experts is likely to occur in the latter half of April. The review process is likely to take about a month and the Company hopes to be in a position to negotiate a pre-mining agreement with the Mineral Resource Authority of Mongolia (MRAM) as provided for under Article 23 of Mongolia Minerals Law (2006) during May.

Such an agreement will require specified work to be undertaken including completion of feasibility studies prior to the establishment of a mining operation.

For the purpose of this release, the qualified person is Terence E. Bates, MSc (geology), the company's chief executive officer and president. All technical information in this release has been reviewed or compiled by Mr. Bates. Mr. Bates is a Fellow of the Australian Institute of Mining and Metallurgy and is a qualified person as defined by NI 43-101.

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

Copyright 2012 ACCESSWIRE-TNW

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