MICREX DEVELOPMENT CORP.

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

TSX Venture Exchange symbol "MIX"
SEC 12 g (3) Exemption 82-4281

For immediate release

January 24, 2012

Update on Québec Magnetite Apatite Deposit

Micrex Development Corp. (TSX.V: MIX) announces developments on its magnetite deposit in Québec.

Micrex has shipped 15 tons of crushed magnetite to Newcastle, England for testing in a new state-of-the-art grinding machine which will crush to 325 mesh without the use of ball mills. This will greatly improve production capability and efficiency for the plant that Micrex intends to build later this year. Micrex's manager for Québec, Mr. Roch Cormier, will be attending and supervising the final production runs in Newcastle later this month.

Early reports from Corem lab facility in Québec City have proven that titanium may be readily separated from the magnetite and apatite components. Unlike most deposits of this type, the titanium is discrete from the magnetite, and may be separated at 150 mesh.

Micrex estimates that that the Québec and eastern seaboard market for 325 mesh magnetite is over 150,000 tons annually, which is currently being supplied from various offshore sources. The plant will be built in stages to help supply this market.

Micrex would like to acknowledge all the assistance the Québec government and its various agencies have extended to the Company as it moves through the regulatory process of bringing this property into production.

Other news releases are being prepared to cover the drilling program in Québec and the survey at the Deadwood gold mine in New Mexico.

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

Further information may be obtained from Perry Meszaros or S.E. Marshall at (780) 448-0922
or email at mixinfo-1@mixcorp.com

Web site address: www.mixcorp.com

MICREX DEVELOPMENT CORP.

Burmis Magnetite/Titanium Property - St. Charles de Bourget Magnetite/Titanium/Apatite Property - Fort Steel Placer Property - Bighorn 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