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
June 30, 2004
Update on Development of Micrexs Magnetite Properties
Micrex Development Corp. announced today that it has completed a detailed drilling program on its Burmis Magnetite/Titanium Property in southwestern Alberta.
This was a one week program of over fifty holes to finalize tonnage and geometry calculations for selected portions of the deposit.
The area was originally evaluated with widely spaced drill holes, and then test pits and trenches were dug on one portion of the deposit in December of 2002.
This latest drilling program was carried out by Apex Geoscience and was designed to define the ore body in 3D to greater depth and area than was possible with the trenching program.
Micrex will use this data for quarry pit design to maximize the mineral tonnage per unit area.
This will enable the Company to design a quarry that will minimize the area of impact while accessing the maximum tonnage of magnetite. Not only will this be better environmentally, but it will also be more economical for Micrex.
The drilling encountered excellent intersects of magnetite bearing material across a significant area. Over 200 separate samples were taken for assay.
A track mounted reverse circulation drill allowed excellent mobility with minimal environmental impact. Micrex also had environmental consultants on site to gather information needed for permitting.
Many local residents in the Crowsnest Pass have been curious about the economic benefits the quarry could bring to the area.
Even though the quarry will be quite small, it will employ approximately 12 local people and inject an estimated 1.5 million dollars directly into the local economy. There will also be substantial trickle-down economic benefits to local businesses, even though they are not directly involved with the project.
Micrex also announced that the Environmental Scoping Study has been completed on its St. Charles Magnetite/Titanium Project near Chicoutimi, Quebec. Consultant Roche and Associates has finished this important first step towards opening a quarry in Quebec.
The media attention that this project has attracted has alerted a wider market than Micrex had anticipated.
The Company is dealing with market enquiries from heavy media users, chemical processing companies, water treatment facilities, and others. With this much interest from eastern Canada, western Canada and the U.S., Micrex expects to sell everything it can produce from both east and west sites.
There is sufficient market interest in the east that Micrex may have to expand its production plans for the Quebec facility to ensure sufficient supply. While this may affect permitting procedures, the immediate economic benefits would outweigh the extra effort required.
Micrex expects that the present production plan for Burmis will be sufficient to supply the western market for some time.
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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