MICREX DEVELOPMENT CORP.
A mineral exploration and development company operating in Canada and the United States
TSX Venture Exchange symbol "MIX"
SEC 12 g (3) Exemption 82-4281
For immediate release
General Update on the Qu�bec Magnetite Apatite Deposit
February 7, 2012 - Micrex Development Corp. (TSX.V: MIX) announces that the drilling program on the St. Charles property is continuing at a slow rate due to inclement weather. However, Micrex is very pleased with the results so far.
Exploration on the newly found deposit extensions is continuing to show a very high apatite content of up to 28%. This represents up to 15% P205, a very important fertilizer feedstock.
Corem Laboratory's first stage analysis is now complete and validates all previous testing carried out by Micrex. It has proven that the St. Charles deposit's ilmenite grains are readily separated from the magnetite grains. This will enable Micrex to produce magnetite required for the water purification industry in Qu�bec and the US eastern seaboard, which market it estimates to be at 150,000 tons annually. Currently this is all being shipped from northern Europe at a landed cost of over $200.00 per ton. Micrex estimates its cost to produce this product at significantly less than half of that amount. Micrex has been advised that there is worldwide demand for fine ilmenite (titanium) powder.
There have also been delays in the grinding equipment test program in Newcastle, England, but these tests are now scheduled for the week of Feb 20.
An update on the Deadwood gold and silver mine in New Mexico will follow shortly.
This press release has been reviewed by M. R�jean Girard, geologist and head director of IOS Services G�oscientifiques Inc. and the Company's Qualified Person for this project under the meaning of NI 43-101.
Micrex Development Corp. (TSX.V: 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 Qu�bec.
Visit www.mixcorp.com for further details.
Further information may be obtained from Perry Meszaros or S.E. Marshall at (780) 448-0922
or email at mixinfo-1@mixcorp.com
Web site address: www.mixcorp.com
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
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.
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.