Mr. Jared Lazerson of MGX reports

MGX MINERALS ANNOUNCES EXPANDED DRILL PROGRAM AT KIBBY BASIN, NEVADA LITHIUM PROJECT; ADDITIONAL CORE SUBMITTED FOR ASSAY ANALYSIS

MGX Minerals Inc.'s joint venture partner, Belmont Resources Inc., plans to conduct up to 4,800 feet of additional drilling across four diamond drill holes at the Kibby basin lithium project in Nevada. Additionally, Belmont has also reported plans to conduct downhole geophysical surveys to test specific prospective layers for potential aquifers. Drilling is expected to commence shortly.

As previously reported, sampling in drill hole KB-3 between the 1,100-to-1,210-foot range averaged 415 parts per million, with the highest sample reaching 580 ppm lithium (see press release dated Oct. 1, 2018). Additionally, 20 of 25 samples assayed greater than 100 ppm lithium between the 1,270-to-1,798-foot range, with seven samples containing greater than 375 ppm, including a high of 580 ppm lithium at 1,791 feet. Belmont has delivered an additional 59 core samples from the lower section of drill hole KB-3 to ALS labs in Reno for assaying. The Kibby basin shares many characteristics with Clayton Valley, where lithium brines are currently being exploited, including: closed structural basin, large conductor at depth, lithium anomalies at surface and depth, evidence of a geothermal system, and potential aquifers in porous ash and gravel zones.

About the Kibby basin lithium brine partnership

MGX is partnered with Belmont Resources on the property and currently earning a 50-per-cent interest with the goal of forming a 50/50 joint venture to utilize MGX's rapid lithium extraction technology. Kibby basin is located in the western portion of the Great basin in Nevada. The property covers 2,560 acres located in Esmeralda county, Nevada. Geologic research of the Kibby basin has indicated that proximal rhyolitic flows and tuffs surrounding the basin could be a potential source of Li brine in the Kibby basin playa. In addition, the Kibby basin is located within a geothermal cluster at a basin low setting. Regional geophysical signatures in the area reflect similar anomalies comparative to that of Clayton Valley, approximately 50 kilometres to the south, location of Abermarle's Silver Peak mine, the only North American lithium producer.

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 standards.

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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