An anonymous director of Wexford reports

WEXFORD UPDATES DISCLOSURE OF OWNERSHIP OF MARLIN GOLD MINING LTD.

Wexford Spectrum Trading Ltd. (WST) and Wexford Catalyst Trading Ltd. (WCT), two private investment funds managed by Wexford Capital LP, acquired ownership of a total of 50 million common shares of Marlin Gold Mining Ltd., representing 7.35 per cent of Marlin Gold's issued and outstanding common shares.

The acquired shares were acquired at a price of 10 cents per acquired share for total gross proceeds paid to Marlin Gold of $5-million. The Wexford funds acquired the acquired shares by way of a non-brokered private placement equity financing by Marlin Gold pursuant to Section 3 of B.C. Instrument 72-503, distribution of securities outside of British Columbia.

Following the offering, the Wexford funds beneficially own, directly or indirectly, 590,036,828 shares, representing approximately 80.83 per cent of Marlin Gold's issued and outstanding shares. Immediately prior to the completion of the offering, the Wexford funds owned, directly or indirectly, 540,036,828 shares, representing approximately 79.42 per cent of Marlin Gold's issued and outstanding shares. The Wexford funds acquired the acquired shares for investment purposes.

The Wexford funds may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of Marlin Gold.

In accordance with applicable law, the acquired shares will be subject to a four-month hold period commencing on the date hereof.

For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the offering, please see Marlin Gold's profile on SEDAR.