Micrex Development Corp.: Deadwood Gold/Silver Mine Update

Micrex Development Corp. (TSX VENTURE:MIX) announces results from analysis of a
hole drilled on the Deadwood property in 2007. These results were recently
obtained by Micrex during negotiations that followed the expiration of an option
agreement with a joint venture partner.


The Deadwood-Sunburst Property consists of two patented mining claims
encompassing approximately 14 ha within west-central New Mexico. The property is
located in the Mogollon Mining District, Catron County, New Mexico, about 14
miles from the Arizona border and 75 miles north of Silver City. The property is
located approximately 1.4 km southwest of Mogollon, NM, and can be accessed
directly from a paved highway leading from Highway 180 to the historic town site
of Mogollon. The property benefits from excellent infrastructure, including
direct road access and easy access to power and water in the town of Mogollon.


The Deadwood-Sunburst Property encompasses the Deadwood Mine, which has not seen
significant production since the late 1930s. Records indicate that mining
production was halted due to the breakout of the Second World War, rather than
any resource/grade concerns at the mine. Historical reports claim the mine
yielded average grades of 0.127 oz/ton gold and 6.96 oz/ton silver. Production
numbers from the late 1930s report that 82,914 tons of ore were milled, yielding
10,524 oz gold and 577,129 oz silver. Records on file with the State of New
Mexico show stope widths of over 20 feet in some places. Historical data
indicates that two other parallel vein systems were intersected during mining,
but were never developed. Micrex cautions that the above grade and tonnage
numbers are not NI43-101 compliant, but believe they provide a realistic
overview of historic mining activity.


The property lies within the Mogollon Mining District, known for its extensive
Early to Middle Miocene Ag-Au-Cu epithermal veins. On the Deadwood/Sunburst
Property, two major veins, the Deadwood-Last Chance Vein and the Queen Vein,
trend approximately north-south through the area and may merge in the south. The
Deadwood-Last Chance Vein is an east-west vein that swings to a southerly
direction as it enters the Deadwood Claim; this vein has been the target of all
mining to date.


Recent exploration has consisted of detailed mapping and sampling programs of
the Deadwood-Sunburst claims and surrounding area in 2006 and 2007, and the
completion of one diamond drill hole near the historic Deadwood Mine in
September, 2007.


Surface samples collected in 2006 and 2007 indicate the presence of low-grade
Ag-Au mineralization in quartz veins in the Deadwood Claim and the potential for
Cu-Ag-Au mineralization in silicified fracture/fault zones in the Sunburst
Claim. The 2007 diamond drilling intersected visible mineralization consisting
of fine-grained, disseminated pyrite, argentite/acanthite, pyrrhotite,
chalcopyrite, and galena within silicified and/or brecciated volcanic rocks.
Quartz/calcite veins ranging from a few centimetres to several metres in size
were common throughout the mineralized interval.


Mineralized Intervals in DW07-01



                               Apparent        True                         
                              Thickness   Thickness  Average Ag  Average Au 
Interval    From (m)  To (m)         (m)         (m)       (g/t)       (g/t)
1            122.83  123.75        0.92        0.49      121.02        2.60 
2            126.49  127.41        0.92        0.49       53.87        1.43 
3            134.11  135.03        0.92        0.49       34.87        0.67 
4            138.02  140.36        2.34        1.25       21.32        0.26 
5            142.04  153.92       11.88        6.36       44.24        0.88 
6            157.58  167.03        9.45        5.06       33.59        0.60 
7            171.30  178.00        6.70        3.59       42.95        0.78 
8            182.73  183.64        0.91        0.49       97.67        0.78 
9            185.83  188.21        2.38        1.27       89.97        1.12 
Summary      122.83  188.21       65.38       35.00       28.19        0.49 



The results of DW07-01, located near the Deadwood Mine, are considered
encouraging. Three vein systems were identified in historic activities on the
Deadwood Claim. A single, yet unexpectedly thick, mineralized interval was
encountered in the 2007 drill program; it is unknown at this time how it relates
to the three vein systems historically identified. The hole was terminated at
189.28 m due to mechanical difficulties; hence, the zone is possibly wider than
35 metres. In addition, the high-grade, multi-element showing in the Sunburst
Claim has not yet been tested by drilling. Given the grades and thicknesses
intercepted in the first hole, the system appears to have the potential for a
large tonnage low-grade Au-Ag-(Cu) epithermal or vein-hosted deposit.


A helicopter-borne magnetic/EM survey was conducted over the property during the
first quarter of 2012. Micrex has engaged Geophysique Camille St-Hilaire Inc. of
Rouyn-Noranda, Quebec to review the data collected. Results are expected within
the next month. Future exploration will consist of an eight-hole, 2,400 m
diamond drill program. 


Patrick Kluczny, P.Geol., a qualified person as defined by National Instrument
43-101, supervised the preparation of the technical information in this news
release. 


Micrex Development Corp. (TSX VENTURE:MIX) is a mineral exploration company
based in Alberta, Canada with mining properties in North America.


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.