Meryllion Completes a 43-101 Technical Report on Its Cerro Amarillo Cu-(Mo-Au) Project in Argentina and Proposes a First Stage Drill Program

VANCOUVER, BC--(Marketwired - July 28, 2014) - Meryllion Resources Corporation ("Meryllion" or the "Company") (TSX VENTURE: MYR) is pleased to announce that it has completed a NI 43-101 Technical Report on its Cerro Amarillo Cu-(Mo-Au) project in west central Argentina (Figure 1) which recommends that the Company proceed with a 14-hole, 5,300 m first stage drilling program on the property.

To date, that Company has identified five distinct porphyry style intrusive-hydrothermal systems on the The Cerro Amarillo property:

• Cerro Apero;
• Vaca de Cobre;
• Cerro Choro;
• Cajon Grande; and
• La Blanca.

Substantial mineralisation of several styles has been identified at surface in each system except Cerro Choro (Figure 2). Moreover, these porphyry systems are clustered along a northeast-trending structural corridor on the property which transects the southern extension of the orogen-parallel, Miocene-Pliocene metallogenic belt that also hosts the El Teniente, Los Bronces, Los Pelambres, and Altar porphyry copper deposits.

Location and Infrastructure

The project covers an area of 168 km² close to the border with Chile in southern Mendoza Province in the Department (County) of Malargüe. The property lies in the mountains of the Andean Cordillera at an average elevation of 3,000 MASL and has a relative relief of some 1,800 m from 2,000 MASL to 3,800 MASL. Much of the project area receives snow from May to November each year resulting in a practical field season of some five months from early December to late April. The town of Malargüe is the nearest major service centre lying 53 km southeast of the property. The town is the seat of local government and is also a service centre for the petroleum industry. It hosts the province's only technical mining school and is served by a towered airport with a 2,650 m paved runway.

Public roads pass to both the north and west of the property, although there are no vehicular roads or tracks within the property boundaries; all access to date has been via horseback, on foot, or by helicopter. Ample water resources for the project can be found either on the property or in the Rio Grande which flows along the western boundary of the property. High voltage transmission lines lie within reasonable distance from the project area to support future mine development.

Summary of Exploration Work

Meryllion carried out the fieldwork over two field seasons, 2011/2012 and 2013/2014. The work comprised:

• prospecting and sampling over much of the property;
• detailed mapping over Cerro Apero, Vaca de Cobre, Cerro Choro, Cajon Grande, and La Blanca;
• geochemical sampling on grids over Cajon Grande and Vaca de Cobre as well as talus sampling along scree slopes and crests at la Blanca and Cerro Choro;
• induced polarisation surveying over Cajon Grande and Cerro Apero; and,
• helicopter-borne magnetic and radiometric surveying over the Cerro Amarillo property.

This work led to discovery of the La Blanca, Vaca de Cobre, and Cerro Choro porphyry systems in addition to better definition of mineralisation at the previously known Cerro Apero and Cajon Grande systems.