Micrex Development Corp. (TSX VENTURE:MIX) announces the completion of the
14-hole initial drilling program on its wholly-owned St Charles magnetite
project.


Micrex also decided to proceed with additional holes aiming to test the
northward and southward extension of the "Grand Saguenay" apatite-ilmenite
bearing magnetite mineralization, and to test some new magnetic anomalies. The
late completion of the initial program was to the result of the strategic
decision to use a small drilling rig in order to minimize environmental impact
on privately owned forest. This, coupled with drilling water freezing, delayed
the drill program this past winter, but it had no effect on Micrex's overall
planning. Micrex only requires the drilling to update its 43-101 resources.
Currently known resources are more than adequate to meet anticipated demand for
magnetite from Quebec and the Atlantic seaboard, which is estimated to be over
100,000 tons of finished product annually.


The initial program successfully evaluated the geometry of the "Grand Saguenay"
magnetite mineralization, as suggested by the broad aeromagnetic anomaly
indicated on the 2011 survey . The preliminary results suggest the existence of
continuous mineralization over a minimal length of 300 metres, a consistent
thickness of 20 to 30 metres, and trending at 160 degrees and dipping at 50 - 65
degrees. Table 1 presents a summary of the mineralization intersected in course
of the initial program and the map below shows the position of the holes. The
mineralization remains open laterally, to the north and to the south, and at
depth.


Core samples are currently processed in the IOS laboratory for magnetite
recovery by Davis tube testing and density measurement, while assaying is
currently being done at ALS-Mineral, an ISO-17025 accredited laboratory.


Table 1-Summary of massive to semi-massive magnetite intersection from DDH of
the initial program.




----------------------------------------------------------------------------
Hole      Azimuth   Dip                      Intersection                   
----------------------------------------------------------------------------
SB-11-01      081   -45  The main intersection from 66.5-94.17 metres.      
                         Several submetric mineralization intersections.    
----------------------------------------------------------------------------
SB-11-02      081   -45  Two mineralization zone intersected from 14-34.9   
                         metres and 58.63-77.55 metres                      
----------------------------------------------------------------------------
SB-11-03      081   -45  Main intersection from 69.94-83.48 metres. Several 
                         other submetric mineralization intersections.      
----------------------------------------------------------------------------
SB-11-04      081   -45  Main intersection from 54.84-70.19 metres. Several 
                         other submetric mineralization intersections.      
----------------------------------------------------------------------------
SB-11-05      081   -45  Two mineralization intersection more than 20 metres
                         : 1.75-25.1 metres and 132-154.65 metres plus two  
                         intersections with width of almost 10 metres :     
                         84.6-93.35 metres and 109.7-119 metres.            
                         Several other submetric mineralization zone.       
----------------------------------------------------------------------------
SB-11-06      081   -45  One single intersection from 1.12 to 28.64 metres. 
----------------------------------------------------------------------------
SB-11-07      081   -45  The main intersection from 30.75 to 56.75 metres.  
----------------------------------------------------------------------------
SB-11-08      000    90  A main intersection from 48.95 to 86 metres.       
----------------------------------------------------------------------------
SB-11-09      261   -45  A main intersection from 49.15-96.65 metres.       
----------------------------------------------------------------------------
SB-11-10      261   -45  Two intersections from 57.7-78.75 metres and 119-  
                         147.9 metres.                                      
----------------------------------------------------------------------------
SB-11-11      081   -45  The main mineralization intersection from 115.35-  
                         128.25 metres.                                     
----------------------------------------------------------------------------
SB-11-12      081   -45  The main mineralization intersection is from 52.75-
                         80.05 metres with an other 10 metres-width zone    
                         from 11.45-21.7 metres.                            
----------------------------------------------------------------------------
SB-11-13      081   -45  Weakly mineralized.                                
----------------------------------------------------------------------------
SB-11-14      081   -45  Weakly mineralized.                                
----------------------------------------------------------------------------



Further news will be forthcoming on laboratory results from Quebec and
Newcastle, England.


Drilling Locations

To view the map associated with this press release, please visit the following
link: 


http://media3.marketwire.com/docs/327mix.jpg

Other Matters

The recent Quebec Budget tabled on Tuesday, March 20, 2012 calls for increased
investment in the mining sector which bodes well for the future development of
the St Charles magnetite ilmenite apatite property in the Saguenay region. Also,
the previously announced helicopter geophysical survey has been competed at the
Deadwood gold and silver mine in New Mexico and results are currently being
evaluated.


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/Rare Earth Property - Fort Steele Placer Property - Bighorn
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. 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.
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