Mr. Richard Revelins reports

MERYLLION RESOURCES CLOSES SHARES-FOR-DEBT SETTLEMENT

Meryllion Resources Corp. has closed its previously announced share-for-debt transaction with its chief financial officer to settle $10,000 of accrued salary. Pursuant to the transaction, a total of 200,000 common shares in the capital stock of Meryllion were issued at a deemed issued price of five cents per share. All shares issued pursuant to the transaction are subject to a hold period of four months and one day from the date of issuance.

The issuance of the shares pursuant to the transaction constitutes a related party transaction as such term is defined by Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The corporation relies on the exemptions from the valuation and minority shareholder approval requirements for related party transactions in connection with the issuance of the shares that are set out in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the issuance of the shares, exceeds 25 per cent of the corporation's market capitalization (as determined under MI 61-101).

We seek Safe Harbor.