MICREX DEVELOPMENT CORP.

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

TSX Venture Exchange symbol "MIX"

For immediate release

Deadwood Mine Electromagnetic Survey Interpretation

May 8, 2012 - Micrex Development Corp. (TSX.V: MIX) is pleased to update its Deadwood-Sunburst project located in the Mogollon Mining District, Catron County, New Mexico, about 35 km from the Arizona border, 1.4 km southwest of Mogollon and 10 km northeast of Glenwood. The project is easily accessed from the historic town of Mogollon via Highway 180. The property consists of two patented mining claims (Deadwood and Sunburst) encompassing approximately 14 ha.

According to historic reports prepared before Deadwood Mine was shut down during World War II, the Deadwood-Sunburst Property hosts a vein-type gold/silver deposit with average historic 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 6 metres in some places. Historic data indicates that two other parallel vein systems were intersected during mining, but were never developed.

From February 11th to 18th, 2012, Geotech Ltd carried out a helicopter-borne Magnetic and Time Domain Electromagnetic survey over the project. The survey was flown on traverses spaced 50 metres apart with an azimuth of N90E and control-lines spaced 500 metres apart and oriented N0E. A total of 162 line-kilometers were flown.

In April 2012, independent geophysicist Camille St-Hilaire interpreted Geotech's survey and all available geologic information. The interpretation outlined:

  • Five weakly magnetic contrasting areas. The most imposing magnetic contrast consists of a large North-South oriented magnetic strip crossing the entire line network. The Last Chance, Deadwood and Eberle Mines are exactly located on the eastern limits of this magnetic high. This observation could mean that this limit might be a good indicator horizon.
  • Seven presumed faults. These faults, depending on their orientation, are distributed following three distinctive networks. The Eberle, Last Chance, Confidence, and Deadwood Mines seem to be directly related with them.
  • One wide strip oriented North-South, located in the centre of the block, and showing a very high electrical resistivity. This strip of high electric resistivity overlaps surprisingly well with the above high magnetic susceptibility area. Such a litho-geophysics division might be a useful guide for future exploration work. Many of the neighboring ore deposits exploited in the past seem to be located at the edge of the area of high magnetic susceptibility, and also appear to be linked to the presumed fault-networks.

In view of this interpretation, Micrex is expanding its planned drill program into the newly identified areas.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release was prepared by Camille St-Hilaire, M.Sc. P.Geo., qualified person pursuant to National Instrument 43-101, and reviewed by Patrick Kluczny, P.Geol., a qualified person as defined by National Instrument 43-101.

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