Mr. Jared Lazerson reports

MGX MINERALS ANNOUNCES RECORD DATE FOR DIVIDEND OF ZINCNYX ENERGY SOLUTIONS SHARES; PROVIDES PUBLIC LISTING UPDATE

MGX Minerals Inc. has provided an update regarding the proposed spinout of its wholly owned subsidiary, ZincNyx Energy Solutions Inc., the intentions for which were previously announced in the company's Oct. 3, 2018, news release. The company has determined to fix Oct. 22, 2018, as the record date for the proposed second distribution of the payment of a dividend in kind of common shares in the capital of its wholly owned subsidiary, ZincNyx, to shareholders of MGX as of the record date. U.S. shareholders will be eligible to receive the proposed distribution; however, there is no guarantee ZincNyx shares will be listed on a qualified U.S. exchange. The company will issue dividend shares totalling 7 per cent of its holdings in ZincNyx to MGX shareholders of record, pending final pricing of shares. As previously announced, shareholders of record as of June 29, 2018, will receive a dividend of 33 per cent.

The declaration and payment of any such dividend and the amount thereof will be determined at the discretion of the company's board of directors and will remain subject to, among other things, satisfaction by the company of all statutory obligations under the Business Corporations Act (British Columbia) (the BCBCA). The proposed distribution also remains subject to applicable approvals and regulatory compliance in all respects.

Further to the prior release, MGX intends for ZincNyx to become a stand-alone company following the spinout by way of a dividend in kind of ZincNyx shares by MGX. The proposed distribution is expected to be made by way of ZincNyx filing a prospectus with securities regulatory authorities in the jurisdictions where MGX is a reporting issuer to qualify the proposed distribution of ZincNyx shares to MGX shareholders such that the ZincNyx shares to be delivered under the proposed distribution are not expected to be subject to any statutory hold periods. The proposed distribution will not occur unless or until a receipt for the final prospectus is obtained from the securities regulators. MGX expects to retain a significant ownership position in ZincNyx.

The company has not yet made any application to list the ZincNyx shares for trading on an exchange, no market currently exists for the ZincNyx shares and the prior release is qualified in its entirety by this news release.

The prospectus will constitute a public offering of the ZincNyx shares only in those jurisdictions where they may be lawfully offered for sale and therein only by persons permitted to sell such securities.

About MGX Minerals Inc.

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

We seek Safe Harbor.