Micrex Development Corp.

Micrex Development Corp.

May 16, 2006 07:30 ET

Micrex Development Corp.: New Gold/Silver Claims Staked Near Deadwood

EDMONTON, ALBERTA--(CCNMatthews - May 16, 2006) - Micrex (TSX VENTURE:MIX) announces today that new gold/silver claims have been staked in the area of their Joint Venture Deadwood/Sunburst gold property in the Mogollon district of New Mexico.

In co-operation with their JV partner, Micrex has completed staking 19 new claims, adding two new major vein structures and another historic mine.

The claims are located within the "Area of Interest" agreement that Micrex has established with their JV partner and is subject to that agreement.

An historic mine was located on one of the veins but as with the Deadwood/Sunburst and essentially all of the historic producing mines in the area no exploration drilling was carried out. Exploration was done by tunneling into structures tracked from surface but despite the primitive methods the area was known in the period 1904 to 1942 for producing 40% of the silver and 25% of the gold mined in the State of New Mexico.

The area is referenced in a New Mexico Bureau of Mines and Minerals Report.

The Report estimates that reported production from the Mogollon Mines was $25,000,000 between 1879 and 1947 with most of the production in the years 1904 to 1930. A revival of activity just prior to World War 2 was short lived as the Government shut down the mines as part of the war effort.

It is also stated that average gold silver ratio for the district is 50 ounces silver for every one ounce of gold. Reference is made to ores treated by the Black Hawk Co. (a company that processed ores from the district) as averaging 0.14 ounces gold and 6.94 ounces silver per ton.

Historic prices for those metals during the period of production were approximately 60 cents per ounce silver and $21 per ounce gold.

Jody Dahrouge of Dahrouge Geological, Edmonton Alberta, has reviewed this press release as the Qualified Person on this Project. Dahrouge Geological will be tasked with evaluating these new claims to determine how best to add them to the exploration plan for the area.

The drilling program for the Deadwood/Sunburst was delayed until this new area was secured. The intention is that additional geological work, including drilling, on the new claims can share resources. Now that the staking is completed an integrated exploration plan can be made for the entire area.

Planning work is underway with the aim of mobilizing both exploration and drilling personnel to the site as soon as possible.


A mineral exploration and development company operating in Canada and the United States

SEC 12 g (3) Exemption 82-4281

Peace River Diamond Property - Burmis Magnetite/Titanium Property - St. Charles de Bourget Magnetite/Titanium Property - Fort Steel Placer Property - Bighorn Gold Mine - Banks Gold Mine - Mount Royal Gold Mine - Deadwood Gold Mine - Sunburst Gold Property

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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