Mr. Edward Lee reports
TSX VENTURE EXCHANGE ACCEPTS NEVADA CLEAN MAGNESIUM MEMORANDUM OF UNDERSTANDING WITH BIG BLUE TECHNOLOGIES LLC
The TSX Venture Exchange has accepted for filing the binding memorandum of understanding dated Feb. 1, 2017, between Nevada Clean Magnesium Inc. and Big Blue Technologies LLC of Broomfield, Colo., United States, whereby the company and BBT have agreed to enter into a technical joint venture.
Both parties will work together to further develop the Nevada Clean Magnesium process, the BBT process and the alpha condenser in order to produce magnesium metal from the Tami-Mosi magnesium property owned by Nevada Clean Magnesium, as set forth in a definitive agreement to be completed on or before Aug. 1, 2017.
For full details, please refer to the company's news release previously announced on Feb. 6, 2017.
About Nevada Clean Magnesium Inc.
Nevada Clean Magnesium is focused on becoming a major U.S. producer and distributor of primary, high-grade, low-cost magnesium metal extracted from its 100-per-cent-owned Tami-Mosi property located in north-central Nevada. Based on the company's National Instrument 43-101 preliminary economic assessment report published in September, 2011, and amended in July, 2014, the Tami-Mosi project has an inferred resource of 412 million tonnes with an average grade of 12.3 per cent magnesium for a contained metal content of 111 billion pounds of magnesium using a 12-per-cent cut-off grade contained within a high-purity dolomite block.
This press release was prepared under the supervision and review of James Sever, PEng, president and chief operating officer for Nevada Clean Magnesium. Mr. Sever is a non-independent qualified person within the meaning of National Instrument 43-101 standards.
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