MICREX DEVELOPMENT CORP.

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

TSX Venture Exchange symbol "MIX"

For immediate release

Drilling Program Assay Results from St. Charles Québec

July 10, 2012 - Micrex Development Corp. (TSX.V: MIX) is pleased to announce it has received 153 assays of magnetite concentrates from Davis tube tests of samples from its St. Charles de Bourget magnetite project. Davis tube testing is a routine procedure for magnetite concentration, typically used for iron ore assaying. St. Charles is a magnetite-ilmenite-apatite deposit, and an average of 7.53% TiO2 is present in the magnetite concentrate, close to the 6-8% expected. However the titanium distribution is bimodal, with part of the deposit hosting titanium poor magnetite (1-3% TiO2) and part of the deposit with titanium-rich (10-16% TiO2) magnetite. Concentrates were clean and within specification, devoid of deleterious contaminants such as silica (1.27% SiO2), calcium (0.43% CaO) and magnesium (1.27% MgO).

The presence of portions of the deposit with titanium-poor and titanium-rich magnetite will enable Micrex to diversify its targeted niche markets for its magnetite. The titanium-poor magnetite is expected to be suitable for American producers of iron sulphate for water treatment plants. The American market is sensitive to the presence of titanium, which is considered a contaminant. For Canadian producers, however, the titanium-rich sludge produced by the sulphatation is sold as a value-added by-product. Testing of the material is currently being carried out by an American sulphate producer. The US sulphate production represents a market of about $20,000,000 annually. Currently all this raw product is being supplied from Finland in Europe and is the market that Micrex intends to pursue.

Micrex also targeted the production of magnetite powder for use as a slurry in DMS plants of coal mines. This usage is not sensitive to the titanium content of the magnetite, and will not be affected by the different zones in the deposit. The market for heavy media for coal mine production is estimated to be about $22,000,000 annually.

Aside from titanium-poor and titanium-rich magnetite, the St. Charles deposit also contains similar proportions of ilmenite and apatite, respectively titanium and phosphate. Co-production of magnetite, ilmenite and apatite is contemplated, and metallurgical testing in this regard shall be initiated as soon as all assays are received from the laboratory.

Davis tube testing has been performed by IOS Services Géoscientifiques Inc. while headgrade and magnetite concentrate assaying has been conducted by ALS-Mineral from Val D'Or, an ISO-17025 accredited laboratory. Stringent quality control has been implemented by this IOS certified chemist.

The St. Charles project aims to produce Ti-magnetite for industrial purposes, with a co-production of ilmenite for the titanium dioxide industry and apatite for the phosphate industry. Ti-magnetite concentrates are currently being tested for various applications by potential clients.

This press release has been reviewed and approved by Mr Réjean Girard, P.Geo, qualified person for the St. Charles project.

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