Micrex Development Corp. V.MIX.H

News release

[WEH]

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 November 8, 2004 FURTHER WORK AT THE QUEBEC ST. CHARLES MAGNETITE / TITANIUM DEPOSIT Micrex announced today that representatives of the company have recently been on site at the St. Charles Magnetite / Titanium deposit in Quebec. Personnel were tasked with gathering additional client specific samples as well as investigating access and permitting issues related to operations at that site. Reports from the field indicate excellent progress on all issues. Field personnel were very impressed with the size and quality of the magnetite deposit. Large outcrops of high-grade magnetite are exposed at surface allowing easy access and initial mining. Company representatives also investigated local infrastructure and support industries needed for the mine. They found that the area offers local expertise in mining that can be contracted to supply crushed magnetite to the processing plant. Parts and service for equipment are available in the nearby Saguenay area. Meetings with local contract mining and hauling companies were very productive, as assurances were made that all facets of the mine from construction of the plant, mining, hauling, plant maintenance and service could all be handled by local businesses and expertise sourced from within 20 miles of the mine. The local access roads are all-weather and can handle B-Train trucks year round. There is ample electrical power and water in the area to support the mine. The varying requests for particular magnetite products has prompted Micrex to initiate market specific sample production to allow potential clients to directly test the products that Micrex could produce. Since product production can affect the plant design and permitting requirements, Micrex feels that a full evaluation of potential products should be made prior to final mine permitting. Micrex has received expressions of interest from several magnetite users. Magnetite as a heavy media product is not a major market in the east as it is in the west. The eastern market for magnetite is more directed at magnetite use in chemical processing and for iron ore. Each use demands a specific magnetite product, and Micrex is carefully evaluating the market to determine potential sales volumes and cost to produce for the various products. Emphasis will be given to those products representing maximum return with the highest sales volumes. Several minor markets have expressed interest, but even though there may be a good profit margin per tonne, the sales volumes do not represent a large enough return to justify the specialized processing needed. With a nearby source of good quality magnetite, however, these minor markets may be able to expand to represent large volumes in the future. Micrex will continue to work with these industries to develop opportunities for increased sales. Micrex representatives also investigated the area for potential complications to mine permitting. No significant issues were found and Micrex has been advised by their Quebec Permitting Consultants that the steps to permitting continue to be straightforward. Micrex is currently addressing various components of the Quebec permits. Part of the permitting process is demonstrating a market for mined product, which puts an even greater emphasis on determining the full spectrum of potential products that can be made from the Quebec Magnetite / Titanium ore. Micrex continues to work closely with Chemco Inc. to develop markets for Micrex mineral products from Quebec, as well as from Burmis. The added market exposure that Chemco has introduced has opened the door to a very large potential market that Micrex is carefully working to develop. 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.