Mr. Edward Lee reports
NEVADA CLEAN SIGNS OPERATING AND STORAGE AGREEMENT
The TSX Venture Exchange has approved an operating and storage agreement between Nevada Clean Magnesium Inc. and Industrial Surplus Supplies Ltd. (ISS), located in Fort St. John, B.C.
The agreement provides the company with a facility to operate and later store the bench-scale pilot furnace, which is scheduled to process materials needed to produce magnesium metal for proof of concept of the company's process.
The agreement also allows for storage of not less than one year, with compensation being the issuance of 1.5 million shares of the company. These shares will be subject to a four-month hold period per TSX Venture Exchange policy.
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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