Micrex Development Corp.

TSX VENTURE : MIX


Micrex Development Corp.

October 06, 2010 07:00 ET

Micrex Development Corp.: St. Charles Erbium Assays Revised

EDMONTON, ALBERTA--(Marketwire - Oct. 6, 2010) - Micrex (TSX VENTURE:MIX) announces revised results for erbium that were reported for holes 99-04 and 99-06 in the press release dated April 20, 2010. The independent assay lab reports that their erbium results were incorrect due to interference from the sample's matrix elements. The revised assays show trace amounts of erbium are present, and the erbium values they reported previously were in error.

Micrex is encouraged that a proper assay method has been developed to ensure accuracy in the future and to eliminate interference from matrix minerals.

The lab has rerun the tests for all the other rare earths and confirmed that the April results for them were accurate. The average numbers for the rare earths in parts per million (ppm) are:

Hole CeO2 Gd2O3 Nd2O3 Y2O3 Total REE
99-04 958 271 1003 155 2632
99-06 875 200 670 108 2057

The full revised assay results can be viewed at the St. Charles page on the Micrex web site at www.mixcorp.com.

Magnetite, titanium, apatite and vanadium already provide a solid foundation for development of the property, and Micrex is confident that the rare earth elements will have a positive, value added impact on the overall deposit at St. Charles. 

As a result, Micrex continues to focus its exploration on the Quebec project, with a view of completing a NI 43-101 report and additional drilling.

This press release has been reviewed by Mr. Michael Dufresne, M.Sc., P.Geol. a principal of APEX Geoscience Ltd. and the Company's Qualified Person for this project under the meaning of NI 43-101.

MICREX DEVELOPMENT CORP.

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

FORWARD LOOKING STATEMENTS

Certain statements in this news release are "forward-looking statements", which reflect management's expectations regarding its property and business operations. All statements other than statements of historical fact contained in this news release are forward-looking statements. Such forward-looking statements involve risks and uncertainties, as they reflect management's current beliefs and are based on information currently available to management. Actual results may differ materially from those anticipated in the statements made. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and Micrex assumes no obligation to update or revise them to reflect new events or circumstances except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by Micrex with the securities regulatory authorities, available at www.sedar.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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