Micrex Development Corp. V.MIX.H

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This explains the price rise we have seen lately..... It also indicates that people knew what was coming and started to buy It also is the way Micrex does business .... volume before the announcements or News Release ... because certain people get the news before release. Look at the volume and price rise from Dec. 1,05 to Jan. 10/06 .25 - .82 with NO News Release ---------------------------------------------------------------------- January 11, 2006 Magnetite Production To Begin At Quebec Deposit Micrex Development Corp. announced today that it has signed an exclusive 5 year supply contract with Specialty Minerals Corp. for magnetite produced at Micrex’s St. Charles Deposit in Quebec. Specialty Minerals Corp. (SMC) is a private company that develops mineral products for selected industry uses. Many of these specialty products have been developed through research by SMC. These magnetite products will open up new markets that will reduce Micrex’s reliance on marketing heavy media to the coal companies while offering comparable economic benefit to Micrex. Micrex has begun the process to increase permitted tonnages to keep pace with demand from SMC who expect a minimum annual production of 45,000 tonnes of magnetite and magnetite production by-products. The processes that SMC will be using to produce their intended products will be low impact, which should allow permitting for larger production volumes to be processed expeditiously. This contract requires that SMC will be responsible for the costs to produce magnetite to their specifications. This will include finance and management of all aspects from mining to production facilities, freeing Micrex from any significant capital costs while offering excellent economic returns. Micrex remains responsible for permitting costs. The economic return on a per tonne basis to Micrex is expected to match or exceed the return that the Company could expect if processing the St. Charles Deposit for the same tonnage in heavy media. In addition, Micrex will receive a further 10% of net profits of SMC from the sale of magnetite end products. The two companies will also derive economic benefits from the sale of by-products from magnetite production, including titanium and phosphate minerals. SMC advises that they intend to begin work at the St. Charles Property as soon as weather permits in the spring and anticipate producing marketable product within a short time after startup. With SMC responsible for operations in Quebec, Micrex can continue to concentrate on bringing their Alberta Burmis magnetite deposit into production, thereby creating two cash flow sources for Micrex. Further information may be obtained from Perry Meszaros or S.E. Marshall at [phone] or email at [e-mail] 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 THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.