Could not load file or assembly 'Magick.NET-x64' issue on mvc application

I am using the Magick.net library in an mvc3 web application and these are steps i did

My project is targeting AnyCPU and my machine is 64bit
Add reference of Magick.NET-x64.dll to the project. Installed Visual C++ Redistributable for Visual Studio 2012 Update 4 from here http://www.microsoft.com/en-us/download/details.aspx?id=30679 Installed Ghostscript 9.14 for Windows (64 bit) on machine Added

<add assembly="Magick.NET-x64, Version=7.0.0.0002, Culture=neutral, PublicKeyToken=2004825badfa91ec" />

on web.config file

Project is rebuilded successfully [and all dlls are in bin folder also], but while running i am getting the exceptions

Could not load file or assembly 'Magick.NET-x64' or one of its dependencies. An attempt was made to load a program with an incorrect format.

Description: An unhandled exception occurred during the execution of the current web request. Please review the stack trace for more information > about the error and where it originated in the code.

Exception Details: System.BadImageFormatException: Could not load file or assembly 'Magick.NET-x64' or one of its dependencies. An attempt was > made to load a program with an incorrect format.

Source Error:
An unhandled exception was generated during the execution of the current web request. Information regarding the origin and location of the > exception can be identified using the exception stack trace below.

Assembly Load Trace: The following information can be helpful to determine why the assembly 'Magick.NET-x64' could not be loaded.

=== Pre-bind state information === 
LOG: DisplayName = Magick.NET-x64 
(Partial) 
WRN: Partial binding information was supplied for an assembly: 
WRN: Assembly Name: Magick.NET-x64 | Domain ID: 6 
WRN: A partial bind occurs when only part of the assembly display name is provided. 
WRN: This might result in the binder loading an incorrect assembly. 
WRN: It is recommended to provide a fully specified textual identity for the assembly, 
WRN: that consists of the simple name, version, culture, and public key token. 
WRN: See whitepaper http://go.microsoft.com/fwlink/?LinkId=109270 for more information and common solutions to this issue. 
LOG: Appbase = file:///C:/Fagbokforlaget/SourceCodes/fbf_internal/picsilo/Source/ImageTagger/ 
LOG: Initial PrivatePath = C:\Fagbokforlaget\SourceCodes\fbf_internal\picsilo\Source\ImageTagger\bin
Calling assembly : (Unknown).

LOG: This bind starts in default load context. 
LOG: Using application configuration file: C:\Fagbokforlaget\SourceCodes\fbf_internal\picsilo\Source\ImageTagger\web.config 
LOG: Using host configuration file: 
LOG: Using machine configuration file from C:\Windows\Microsoft.NET\Framework\v4.0.30319\config\machine.config. 
LOG: Policy not being applied to reference at this time (private, custom, partial, or location-based assembly bind). 
LOG: Attempting download of new URL file:///C:/Users/jibinmathew/AppData/Local/Temp/Temporary ASP.NET Files/root/a5b5e44f/dc1c4c69/Magick.NET-x64.DLL. 
LOG: Attempting download of new URL file:///C:/Users/jibinmathew/AppData/Local/Temp/Temporary ASP.NET Files/root/a5b5e44f/dc1c4c69/Magick.NET-x64/Magick.NET-x64.DLL. 
LOG: Attempting download of new URL file:///C:/Fagbokforlaget/SourceCodes/fbf_internal/picsilo/Source/ImageTagger/bin/Magick.NET-x64.DLL. 
ERR: Failed to complete setup of assembly (hr = 0x8007000b). Probing terminated. 

A revision to the blog post sited by @dlemstra has the easiest solution I've found for this:

In VS2013/2015, go to Tools --> Options --> Projects and Solutions --> Web Projects and select "Use the 64 bit version of IIS Express for web sites and projects."