Ms. Lisa Maxwell reports

NEVADA CLEAN MAGNESIUM CLOSES SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Nevada Clean Magnesium Inc. has closed the second tranche of its non-brokered private placement, previously announced on Nov. 7, 2014, for gross proceeds of $108,500, comprising 2.17 million units at a price of five cents per unit. The offering is currently oversubscribed, compared with what the company initially projected, and will remain open due to possible additional participation.

In connection with the second tranche of the offering, the company paid an 8-per-cent finder's fee in cash ($1,000) and broker warrants at a price of five cents per warrant (20,000 warrants).

The offering

Each unit consists of one common share in the capital of Nevada Clean Magnesium and one common share purchase warrant. Each warrant will be exercisable into one common share for a period of three years at a price of five cents per share during the first two years of the exercise period and 10 cents per share during the third year of the exercise period.

The proceeds of the offering will be used to update the National Instrument 43-101 preliminary economic assessment of the Tami-Mosi magnesium project and for general working capital and accounts payables, including legal and transfer agent fees. Although the company intends to use the proceeds of the offering as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. If the offering is not satisfactory, the company will apply the proceeds of the offering to the above uses in priority and in such proportions as management of the company determines is in the best interests of the company.

The securities issued in connection with the offering will be subject to a hold period expiring four months and one day from the date of issuance of such securities.

The placement is subject to final approval from the TSX Venture Exchange.

We seek Safe Harbor.