Micrex Development Corp.
TSX VENTURE : MIX

Micrex Development Corp.

March 12, 2012 11:31 ET

Micrex Development Corp.: First Closing of Financing Announced

CALGARY, ALBERTA--(Marketwire - March 12, 2012) - Micrex Development Corp. (TSX VENTURE:MIX)

The Company announced the first closing of its previously announced private placement. The Company issued 1,045,668 Units at $0.15 per Unit for gross proceeds of $156,850.20 and 2,450,000 Flow-through Shares at $0.20 per share for gross proceeds of $490,000. Each Unit consists of one (1) common share and one (1) common share purchase warrant. Each warrant entitles the holder to subscribe an additional common share at an exercise price of $0.30 for a period of 18 months from closing. Proceeds will be used for assessment on the Company's magnetite and apetite property in Quebec and for working capital. The securities issued on this closing are subject to trading restrictions until July 10, 2012.

EMD Financial Inc ("EMD") of Montreal Quebec is acting as agent for this private placement and received commissions of $51,748 and 83,654 broker warrants entitling it to acquire additional common shares for 18 months at a subscription price of $0.15 per share.

Micrex Development Corp. (TSX VENTURE:MIX) is a mineral exploration company based in Alberta, Canada with mining properties in North America. Current focus is on the St. Charles de Bourget magnetite / titanium / apatite property in Québec.

MICREX DEVELOPMENT CORP.

Burmis Magnetite/Titanium Property • St. Charles de Bourget Magnetite/Titanium/Rare Earth Property • Fort Steele Placer Property • Bighorn Gold Mine • Mount Royal Gold Mine • Deadwood Gold Mine • Sunburst Gold Property

WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary material include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

SEC 12 g (3) Exemption 82-4281

Neither TSX Venture Exchange nor its Regulation Services 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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