NEWS RELEASE 10-01
Initial Distribution Made to Unsecured Creditors of Merit Mining Corp.

January 22, 2010 – Vancouver, British Columbia. Merit Mining Corp. (TSX-V:MEM) reports
that during the month of December 2009, Abakhan & Associates Ltd., trustee for the Company, made the first distribution, comprised of 15% of the proven claim amounts of the unsecured creditors of Merit, pursuant to a Proposal, which was made to the unsecured creditors of the Company, under the Bankruptcy and Insolvency Act (“BIA”) earlier in 2009.

The Proposal process began on December 3, 2008, when the Company filed a Notice of
Intention to Make a Proposal to its creditors under the BIA. The Proposal was filed with the Office of the Superintendent of Bankruptcy on March 23, 2009. The requisite percentages of the unsecured creditors voted to approve the Proposal at a meeting held on April 14, 2009 and on May 6, 2009 the Supreme Court of British Columbia made an Order approving the Company’s Proposal to its unsecured creditors.

The Proposal provides that the unsecured creditors will receive funds equal to 30% of their claims, to be paid upon receipt by the Company of 2007 and 2008 Mineral Exploration Tax Credits (“METC’s”), which were anticipated to be received in the spring and fall of 2010, respectively. The Company received its 2007 METC refund earlier than anticipated, enabling the first distribution, which totalled $333,524.62.

Merit Mining Corp.
Signed “Fred Sveinson”
Fred Sveinson, President & CEO
For further information please contact:
Fred Sveinson at (604) 694-2344