Micrex Development Corp.
TSX VENTURE : MIX

Micrex Development Corp.

January 24, 2012 11:43 ET

Micrex Development Corp.: Update on Québec Magnetite Apatite Deposit

CALGARY, ALBERTA--(Marketwire - Jan. 24, 2012) - Micrex Development Corp. (TSX VENTURE:MIX) announces developments on its magnetite deposit in Québec.

Micrex has shipped 15 tons of crushed magnetite to Newcastle, England for testing in a new state-of-the-art grinding machine which will crush to 325 mesh without the use of ball mills. This will greatly improve production capability and efficiency for the plant that Micrex intends to build later this year. Micrex's manager for Québec, Mr. Roch Cormier, will be attending and supervising the final production runs in Newcastle later this month.

Early reports from Corem lab facility in Québec City have proven that titanium may be readily separated from the magnetite and apatite components. Unlike most deposits of this type, the titanium is discrete from the magnetite, and may be separated at 150 mesh.

Micrex estimates that that the Québec and eastern seaboard market for 325 mesh magnetite is over 150,000 tons annually, which is currently being supplied from various offshore sources. The plant will be built in stages to help supply this market.

Micrex would like to acknowledge all the assistance the Québec government and its various agencies have extended to the Company as it moves through the regulatory process of bringing this property into production.

Other news releases are being prepared to cover the drilling program in Québec and the survey at the Deadwood gold mine in New Mexico.

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.

Visit www.mixcorp.com for further details.

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

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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