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Press Release Oslo, April 16, 2007 Merit Mining Corp. options one of the largest gold and zinc properties in British Columbia Wega Mining ASA reports that on April 13, Merit Mining Corp. (“Merit”), a Canadian company in which Wega Mining subject to certain conditions has agreed to obtain a majority stake, has agreed to option the J&L Property (“J&L”), a gold-silver-zinc-lead property 35 km north of Revelstoke, British Columbia. The property has been subject to a number of exploration campaigns from 1983 to 1997, a period of relatively low gold and zinc prices. A total of 21,926 meters have been drilled on the property. Underground development is comprised of 2.0 kilometres of drifting, cross cuts and raises with the Main Zone exposed for a distance of 0.85 kilometres along the drift. The most extensive survey concluded with the following, historic (non NI 43-101 compliant) resource statement: Volume (million metric tonnes) Main Zone Yellowjacket Zone Indicated Mineral Resource Inferred Mineral Resource Indicated Mineral Resource Inferred Mineral Resource Gold (g/t) Silver (g/t) Zinc (%) Lead (%) Metal Value* (USDm) 1.7 7.38 75.9 4.43 2.64 685 1.9 7.12 85.5 3.48 3.32 726 0.7 Nil 52.3 7.06 2.45 224 0.3 Nil 53.1 7.15 2.50 110 Gold (000 oz) Silver (m oz) Zinc (000 mt) Lead (000 mt) Metal Value* (USD m) Indicated and Inferred 4.6 838 11.1 214 133 1,745 Mineral Resources *Metal Value is calculated without important adjustments for recovery rate, smelter and transportation charges. It is based on prices of USD 672/oz for gold, USD 13.9/oz for silver, USD 2000/t for lead, and USD 3550/t for zinc; all NYMEX / LME prices on April 12, 2007. J&L property The metal value at today’s prices, not adjusted for recovery rates and smelting and transportation charges, exceeds USD 1.7bn, or NOK 10bn. Merit will pay 5 million CAD and issue 275,000 shares, currently priced at CAD 0.31, over a period of one year from the date of TSX Venture Exchange approval, for 85% of the property. Merit will pay CAD 100,000 and issue 125,000 shares per year until the start of production of J&L, after which a Net Smelter Return of a maximum of 2% is payable until the seventh anniversary of TSX Venture Exchange approval. On the seventh anniversary, Merit will pay CAD 5.79 million, less the advance and NSR payments made up to that point, and hence obtain full ownership of J&L. The total cost of the property for Merit will be CAD 10.79 million plus a maximum of 1,025,000 shares. The current owner of J&L is the Estate of the late Theodore E. Arnold, Mechanical Engineer and inventor, of Connecticut, U. S. A. “We are very supportive of Merit’s move to acquire this option and partial ownership. The J&L property has the potential to create strong values for Merit’s shareholders, and will be intensively explored over the next 12 to 15 months, in line with Wega Mining’s strategy. Karenslyst Allé 2, Oslo P.O. Box 568 Skøyen, N-0214 OSLO, Norway Tlf.: +47 2316 0100 Fax: +47 2316 0109 www.wegamining.com Merit’s management knows the property well from earlier work, and are the right people to bring it to production,” said Lars Marius Furu, CEO of Wega Mining. Wega Mining has agreed, subject to a 45 day Due Diligence period, to acquire 47.6 million shares in Merit through a private placement of CAD 10 million, bringing its ownership to 53.7% of issued shares. The acquisition also includes warrants to acquire up to 29.6 million shares during the next 12 month period. For further information, please see the attached press release, issued by Merit on April 15. Contact persons: Lars Marius Furu, CEO, +47 90 188 289 (Oslo) Tore Birkeland, Technical Director, +47 23 160 102 (Oslo) Fred Sveinson, CEO Merit Mining, +1 604 694 2344 (Vancouver) Wega Mining ASA, headquartered in Oslo, Norway, actively explores for gold, copper and zinc in Guinea, Ecuador, Romania, Portugal and Norway, and currently holds 26 licences. Through intensive exploration, a pro-active environmental strategy, access to equity capital and a strong professional network, Wega Mining aims to develop into a leading Nordic mining group. Karenslyst Allé 2, Oslo P.O. Box 568 Skøyen, N-0214 OSLO, Norway Tlf.: +47 2316 0100 Fax: +47 2316 0109 www.wegamining.com