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
March 25, 2004
Permitting Process Initiated For Quebec Magnetite Mine
Edmonton, Alberta: Micrex Development Corp. ("Micrex") announced today that it has initiated the permitting process to bring its Quebec Magnetite Deposit at St. Charles de Bourget into production. Recent expressions of interest from potential customers located in the eastern United States and eastern Canada have convinced Micrex to take this step.
Micrex had felt it could supply the initial eastern requirements with product from its Burmis deposit. Two factors have contributed to a re-evaluation of that approach.
First, recent news about the plans to open a magnetite facility in south western Alberta has alerted other potential western markets. Indications of interest from the north western United States would suggest that the western market could use all of the magnetite that Burmis could produce, leaving none for the eastern market.
Secondly, and once again due to recent media attention, Micrex has had indications of interest from a much larger potential market in the east than originally thought. Users from both eastern Canada and eastern United States that have approached Micrex represent a combined market that would be more than sufficient to justify opening the Quebec deposit as a stand-alone project.
Not only does the Quebec site offer sufficient magnetite to supply a large market but it would enjoy an advantage in transportation costs to the eastern consumer over the Burmis product.
Detailed metallurgical work on the Quebec magnetite indicates that a high quality heavy media can be made. Tests continue to determine what other magnetite products can be produced. Testing will also continue on the secondary mineral potential.
Micrex expects to fast track development at the Quebec Magnetite Property through the summer of 2004 to assist in mine planning and to support the permitting process.
Further information may be obtained from Perry Meszaros or S.E. Marshall at (780) 448-0922
or email at mixinfo-1@micrex.net
MICREX DEVELOPMENT CORP.
Peace River Diamond Property • Burmis Magnetite/Titanium Property • St. Charles de Bourget Magnetite/Titanium Property • Fort Steel Placer Property • Bighorn Gold Mine • Banks Gold Mine • Mount Royal Gold Mine • Deadwood Gold Mine • Sunburst Gold Property
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