Micrex Development Corp.: Update on the St. Charles Quebec Magnetite/Rare Earth Property

Micrex Development Corp. (TSX VENTURE:MIX) is pleased to announce the hiring of
M. Rejean Girard of IOS Services Geoscientifiques Inc., a Qualified Person to
produce a NI 43-101 report on the St. Charles magnetite / rare earth property.
This report is part of the regulatory requirements but will also be very
important in determining costs for plant design in the production of magnetite
concentrates to be used as heavy media, having concentrates of rare earths,
titanium oxide, vanadium oxide and apatite as by-products. The company is
pushing ahead with a plan to bring the St. Charles deposit from an exploration
and development property to a production scenario in near future.


Results from core testing and Bond index measurements were just received from
McGill University in Montreal. Grinding cost to -325 mesh are critical in the
economics of dense media production.


The deposit at St. Charles is primarily magnetite (about 46%) but drilling has
also identified other valuable minerals. It also contain about 15% of titanium
oxide, dominated by granular ilmenite. This ilmenite is expected to be
recoverable and sellable as by-product. Finally, the deposit contains about 10%
apatite, representing 45% in the non-magnetic fraction. This apatite is suitable
for phosphate production, and contain about 2.6% total rare earths.


The St. Charles deposit was the subject of a recent test for vanadium oxide
conducted by a large international mining conglomerate. Vanadium oxide
concentrations of 0.4% were reported in these tests.


The Company is encouraged by the interest shown by other mining companies in the
rare earth component of the property, and is looking forward to the completion
of the NI 43-101 report. This report will enable the company to commission a
scoping study and a prefeasibility report on the St. Charles deposit.


Proximity to infrastructure sets this property apart

The St. Charles property is located in a rural farming area 25 km west of the
city of Saguenay, Quebec (population 144,000), an important metallurgical
center. Important infrastructure and amenities already in place include:




1.  Paved road to within 1 km of the property, all-weather gravel roads on
    the property itself. 
2.  Electricity already supplied to existing residences on the property. 
3.  High voltage line from the Shipshaw hydroelectric dam runs across the
    property. 
4.  CN railway yard located 25 km east of the property in the City of
    Saguenay. 
5.  Deep water port located only 60 km east of the property at Ports of
    Grande-Anse, with direct access to the St. Lawrence Seaway. 
6.  Established contractors and experienced work force available in the
    local area. 



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. Current focus is on the St. Charles de
Bourget magnetite / rare earth property in Quebec.


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.

Burmis Magnetite/Titanium Property - St. Charles de Bourget
Magnetite/Titanium/Rare Earth Property - Fort Steel 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. Specific
risks to putting this deposit into production include geological risks,
production risks, the inability of the company to raise sufficient capital to
carry out its plans, the risk that market prices for one or more of he planned
minerals makes the production uneconomic and the inability of the company to
find qualified employees or consultants to design and implement the production
plan. 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.