Mr. Edward Lee reports

PRIVATE PLACEMENT OVERSUBSCRIBED INCREASE APPROVED

Nevada Clean Magnesium Inc.'s current private placement originally announced Feb. 10, 2017, to raise up to $250,000 by way of a non-brokered private placement is oversubscribed, and the TSX Venture Exchange has approved an increase in the offering to $350,000.

The company closed the first tranche of the non-brokered private placement on Feb. 10, 2017, for gross proceeds of $98,260 and closed the second tranche of the placement for gross proceeds of $202,500, bringing the total gross proceeds raised to $300,760. Gross finders' fees were for the financing amount to $13,000 cash and 195,000 in brokers' warrants.

The closing of a third tranche is expected soon, and the offering is subject to TSX Venture Exchange final acceptance.

The offering

The maximum offering is seven million units for gross proceeds of up to $350,000. The offering is not subject to any minimum aggregate subscription. Each unit will consist 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 five years at a price of five cents per share. The warrants are subject an acceleration clause in years three, four and five so that the exercise period of the warrants will be reduced to 30 days, if for any 10 consecutive trading days during the unexpired term of the warrant, the closing price of the listed shares exceeds the exercise price of the warrants by: (1) 25 per cent or more if the exercise price is 50 cents or less; (2) 20 per cent or more if the exercise price is between cents and $2; and (3) 15 per cent or more if the exercise price is greater than $2 (and for more certainty, the reduced exercise period of 30 days will begin no more than seven calendar days after the 10th premium trading day).

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 the securities. The completion of the private placement and payment of any commission and fees remain subject to the receipt of all necessary approvals, including the approval of the exchange. Proceeds from the offering will be used for working capital.

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.

The technical portion of this press release was prepared under the supervision and review of James Sever, PEng, chief operating officer, for Nevada Clean Magnesium. Mr. Sever is a non-independent qualified person within the meaning of National Instrument 43-101 standards.

We seek Safe Harbor.