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Enter Symbol
or Name
USA
CA



Nevada Clean Magnesium Inc
Symbol NVM
Shares Issued 143,651,450
Close 2014-11-05 C$ 0.045
Market Cap C$ 6,464,315
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Nevada Clean to update NI 43-101 PEA for Tami-Mosi

2014-11-06 10:18 ET - News Release

Mr. James Sever reports

NEVADA CLEAN MAGNESIUM PLANS UPDATE TO NI 43-101 PRELIMINARY ECONOMIC ASSESSMENT TO INCLUDE ADDITIONAL PROJECT IMPROVEMENTS

Nevada Clean Magnesium Inc.'s board of directors, after an internal review and analysis, has determined that the National Instrument 43-101 preliminary economic assessment of the Tami-Mosi magnesium project should be reviewed to consider additional potential project improvements. The original NI 43-101 preliminary economic assessment was completed on Sept. 15, 2011, and was amended recently in July, 2014, under the advisement of the B.C. Securities Commission.

The board believes that three potential opportunities that could significantly reduce operating costs and increase revenue on the Nevada Clean Tami-Mosi project have been sufficiently proven, and thus should be considered for inclusion in in the amended NI 43-101 report, should the independent engineer and report writer determine that the opportunities are available to the company's operations.

At the TMS 2013 142nd annual meeting and exhibition in March, 2013, James Sever, PEng, presented a paper titled "Waste Heat Recovery Opportunities in a Magnesium Silicothermic Reduction Plant," which identified substantial benefits in using the waste heat recovery method for magnesium. The company intends to learn from Mr. Sever's experience and expertise as to methodology to be used.

While the internal review of the economic models by Nevada Clean's management and its board is encouraging, the company will not release any technical information until the NI 43-101 with the updated project improvements is assessed by a third party engineering group proving its merit.

The company has received a quote from Tetra Tech LLC for the update, and the work will begin after the completion of a financing. Tetra Tech is a leading provider of consulting, engineering, program management, construction management and technical services worldwide.

Mr. Sever, a qualified person recognized under NI 43-101, prepared, supervised the preparation of or approved the scientific and/or technical content of this press release.

We seek Safe Harbor.

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