Mr. Jared Lazerson of MGX reports

MGX MINERALS COMPLETES TDEM GEOPHYSICAL SURVEY AT SALINITAS LITHIUM PROJECT - SALINAS GRANDE SALAR, ARGENTINA

MGX Minerals Inc. and AIS Resources Ltd. have completed the previously announced time domain electromagnetic (TDEM) survey at the Salinitas lithium brine project located in the Salinas Grande salar of northwest Argentina. The TDEM geophysical survey was conducted across 52 stations at 500-metre totalling approximately 26 kilometres. Data compilation is under way and interpretation is expected to begin shortly. Based on interpretation of the TDEM data, the company is now preparing to carry out trenching as well as an auger drilling program to test for shallow, near-surface brines that contain anomalous concentrations of lithium and other elements correlated with geophysics in preparation for definition of drill targets.

TDEM stations at Salinitas brine project

About the Salinitas lithium brine project

The Salinitas tenements are located in the lithium triangle at the Salar de Salinas Grandes, in the province of Salta. The 4,308-hectare contiguous land package resides in the Puna region of northwest Argentina near the border of Chile, an area renowned for its lithium- and potassium-rich brine resources. MGX has partnered with AIS Resources on the project and is currently earning an undivided 80-per-cent interest by incurring total exploration expenditures of at least $1.2-million (U.S.) by May 31, 2020, and by making payments totalling $3.2-million (U.S.) which are primarily due at that time.

Rapid lithium brine extraction technology

MGX has developed a rapid lithium extraction technology eliminating or greatly reducing the physical footprint and investment in large, multiphase, lake-sized, lined evaporation ponds, as well as enhancing the quality of extraction and recovery across a complex range of brines as compared with traditional solar evaporation. This technology is applicable to petrolithium (oil and gas waste water), natural brine and other brine sources such as lithium-rich mine and industrial plant waste water. The technology was recently chosen as winner of the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards, held in London in May (see press release dated May 18, 2018).

Qualified person

Andris Kikauka (PGeo), vice-president of exploration for MGX Minerals, has prepared, reviewed and approved the scientific and technical information in this press release. Mr. Kikauka is a non-independent qualified person within the meaning of National Instrument 43-101.

About MGX Minerals Inc.

MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America.

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