Micrex Development Corp.

Micrex Development Corp.

October 30, 2007 07:00 ET

Micrex Reports on Results From August 2007 Field Program on the Bighorn Property

EDMONTON, ALBERTA--(Marketwire - Oct. 30, 2007) - Micrex Development Corp. (TSX VENTURE:MIX) is pleased to announce today the results from a field program carried out on the Bighorn Property in northern British Columbia during August, 2007.

An airborne magnetic and electromagnetic (EM) survey completed in early 2007 revealed the presence of numerous EM anomalies and conductors over a significant area. As reported in the July 2007 Press Release, Micrex staked additional lands based on the results of the airborne geophysical survey.

APEX Geoscience Ltd. (APEX) carried out a field program in August 2007 that was designed to follow up and sample new targets on the basis of the airborne EM results as well as conducting more detailed sampling and mapping of the Lawson Vein area, an area of previously discovered gold mineralization and exploration potential within the 6200 hectare (15,350 acre) project area.

The 2007 work included field examination of the newly defined geophysical targets and previously known gold occurrences and included prospecting, rock sampling, stream silt sampling and geological mapping. The work was conducted by APEX utilizing a 4 to 5 man geological crew and with helicopter support.

The regional fieldwork concentrated on evaluating the results of the recently flown magnetic and EM airborne survey by flying over and prospecting most of the interesting magnetic and/or EM anomalies that might be representative of potential sulphide zones and/or veins.

Previous work in the vicinity of the Lawson Vein area, including limited ground EM surveys, indicated that airborne EM surveys might help locate additional gold bearing structures in the area. The Lawson Vein, a known gold bearing structure, appears to be coincident with a weak but distinct east-west EM conductor based upon the results of the airborne survey. Limited mining was carried out at Bighorn between 1921 and 1935 on the Lawson Vein, which has been traced for a strike length of 920 m. (2990 ft.) and a vertical distance of over 460 m. (1495 ft.). Based on the identification of the Lawson Vein with airborne EM, a number of short to long EM conductors that do not appear to be related to conductive surface clay materials were visited and prospected. In general, gossans and/or sulphide bearing rocks were found in and around most of the significant EM conductors, therefore explaining the presence of a number of the conductors and EM anomalies. Sulphide zones were identified within and at the contacts of metasedimentary and volcanic rocks. Two new gold occurrences were identified from the 2007 regional sampling program. The first occurrence, with assays of up to 5.35 grams per tonne gold (g/t Au), is associated with a silicified and pyrite bearing muscovite metaquarztite approximately 2.7 km northwest of the Lawson Vein in a recently exposed cirque above the Lawson Vein. The second occurrence, with assays of up to 1.73 g/t Au, 5.3 g/t silver, 1,152 parts per million (ppm) copper and anomalous antimony and mercury, is associated with a carbonate altered metesedimentary unit about 3.5 km due east of the Lawson Vein on the eastern slope of Bighorn Creek.

During previous exploration, two quartz veins with associated wallrock alteration were discovered about 250 m north of the main Lawson Vein. Samples collected from one vein during 2007 assayed up to 6.28 g/t Au and the other vein up to 8.02 g/t Au. Alteration associated with the veining assayed 0.980 g/t Au across 1.22 m.

These two veins lie within a region previously identified as anomalous by Micrex in 2001 and 2002. Prior results include gold assays as high as 121.16 g/t (3.9 ounces per ton (oz/t)), silver assays as high as 56.9 g/t (1.83 oz/t), previously reported in the news release of June 26, 2002.

This most recent work has confirmed alteration and mineralization over an even larger area.

A total of 91 rock grab samples along with 13 heavy mineral concentrate (HMC) and 5 stream silt samples were collected during the field portion of the program.

Of the 13 HMC, samples all but one yielded gold as free mineral grains. Many of the gold grains showed textures and character that would indicate they were from a proximal source. A number of the HMC samples were collected well away from the influence of the known gold bearing Lawson Vein and give a strong indication of multiple gold sources that are shedding small gold particles into local drainages.

Of the 91 rock samples submitted for gold by standard fire assay, 8 samples yielded between 4.12 g/t Au up to a high of 32.3 g/t Au.

All rock samples were submitted for multielement analysis by standard ICP Significant copper, molybdenum and tungsten anomalies were identified along with a number of anomalous results for arsenic, antimony and mercury.

Copper ranged from a low of 3.8 ppm to a high of 6099.1 ppm with 12 of the samples assaying in excess of 200 ppm. Within that group, 6 samples assayed greater than 500 ppm with 4 of this subgroup yielding over 1,100 ppm up to 6099.1 ppm. Interestingly, the sample that yielded 6,099.1 copper also yielded greater than the detection limit (2,000 ppm) for molybdenum, 3.1 g/t silver and anomalous arsenic. The sample was collected from altered granodiorite in the northern portions of the property that is mostly underlain by ganodioritic intrusive.

Chrome assays ranged from a low of 12 ppm to a high of 1219 ppm with 14 samples assaying in excess of 550 ppm. Nickel ranged from a low of 3 ppm to a high of 186 ppm.

Assay details for all samples may be found on the Micrex website.

Micrex has long believed that there are multiple gold bearing structures in the area of the known Lawson Vein.

Certainly the results showing that free gold particles are being shed from nearby gold sources not linked to the Lawson Vein gives credit to the idea of a larger scale gold potential in the area.

With the confirmation that mineralized areas can be found using geophysics and encouraging gold and base metals results from several areas targeted using these geophysics the Bighorn Property continues to grow as a mineral prospect.

Several drill targets have been identified to date and more are expected as this latest data is reviewed.

Mike Dufresne of Apex Geoscience, who is the Qualified Person on this Project, has reviewed this press release.


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

Certain disclosures in this release, including management's assessment of Micrex's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Micrex's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Micrex expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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

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