Mechanical alloying(MA) process using elemental powders followed by hot pressing has been applied to some intermetallic alloy system containing ferromagnetic elements, such as NiAl and $FeSi_2$. A modified thermogravimetric analysis (TGA) technique was used to investigate the degree of alloying in milled powders and hot consolidated specimens as well as heat-treated bulk specimens. It is shown that the measurement of Curie temperatures in MA intermetallic powders and consolidated specimens containing ferromagnetic components, when determined as a function of milling and heat treatment parameters, can give some insight into the progress and mechanism of alloying.