Micrex Development Corp.: General Update on the Québec Magnetite Apatite Deposit

Micrex Development Corp. (TSX VENTURE: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 Quebec 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 world wide 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. Rejean Girard, geologist and head
director of IOS Services Geoscientifiques Inc. and the Company's Qualified
Person for this project under the meaning of NI 43-101.


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
Quebec.


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


A mineral exploration and development company operating in Canada and the United
States


SEC 12 g (3) Exemption 82-4281

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.