EDMONTON, ALBERTA--(Marketwire - June 6, 2011) - Micrex Development Corp. (News - Market indicators) is pleased to announce that independent consulting geologists, Réjean Girard and Jean-Paul Barrette, P. Geo., NI 43-101 qualified persons, from IOS Services Geoscientifiques, have recently conducted a comprehensive field visit of the St. Charles, Québec, Magnetite / Titanium / Apatite / Rare Earth / Vanadium deposit as part of the due diligence required to complete the NI 43-101 compliant report.
The geologists advise that with limited extra drilling should easily confirm between 10 million to 43 million tons of ore, equal to the historical resource estimates on the St. Charles deposit.
The geologists also recommended undertaking after completion of the report an ultra-high definition airborne magnetometer survey to isolate the deposit's outer limits, in addition to a definition drill program to further confirm tonnage. The geologists stated that a 5 hole drill program should immediately define 2 million tons of ore.
As previously announced, various industrial consumers and dealers have indicated interest in the St-Charles magnetite deposit output.
Management looks to delineate larger tonnage as sales and production progress.
Visit www.mixcorp.com for further details.
This press release has been reviewed by M. Réjean Girard, geologist and head director of IOS Services Géoscientifiques Inc. 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/Rare Earth Property • Fort Steele 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.
MICREX DEVELOPMENT CORP.: A mineral exploration and development company operating in Canada and the United States
SEC 12 g (3) Exemption 82-4281
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