Micrex Development Corp.: St. Charles, Quebec Magnetite Project

Micrex Development Corp. (TSX VENTURE:MIX) announces that the helicopter-borne
high resolution aeromagnetic survey for the St. Charles project has been
completed and interpreted.


Additional magnetic anomalies were identified, which likely correspond to
magnetite bearing rock not yet discovered. Known magnetite occurrences are
indicated as more continuous than anticipated, a situation highly beneficial to
the development of the project. The prominent anomaly, corresponding to the
formerly known Grand Saguenay Mine, is about 600 metres in length, up to 300
metres in width, with an excellent downward propagation, and is going to be the
focus of the new drilling program that is about to begin.


A second salient anomaly, similar in size and intensity, corresponds to the
former Javelin deposit. At least 3 other second order anomalies are present,
which were basically unknown from previous work.


During the past weekend the geologist and local residents helped to wash and
clean up some of the new outcroppings, which are to be drilled and blasted in
order to collect a 65 ton bulk sample. This material includes a 12 ton sample to
be shipped immediately to England for testing and design of the crushing
equipment. An additional 2 tons will be shipped to Corem, a world renowned
metallurgical laboratory in Quebec City, for bench scale testing of the
magnetite recovery process. A subsequent pilot plant test at Corem, requiring a
50 ton sample, is planned for this winter.


Definition drilling of the deposit is expected to start in November.

The Quebec project is now all in place and Micrex only needs to wait for the
results to make the final decisions.


Micrex is also evaluating its gold projects, namely the Bighorn mine in the
Atlin, BC area, and is expecting to commission an exploration program this year.


The recent receipt of additional Deadwood mine data has encouraged Micrex to go
ahead with an exploration program on the Deadwood and Sunburst properties in New
Mexico. This work will comprise a detailed magnetic survey and results will be
reported.


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/Apatite Property - Fort Steele Placer Property - Bighorn Gold
Mine - Banks 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.


SEC 12 g (3) Exemption 82-4281 

Micrex Development Corp.: A Mineral Exploration and Development Company
Operating in Canada and the United States