Mr. Jared Lazerson of MGX reports

MGX MINERALS ANNOUNCES COMMENCEMENT OF DRILLING AT SALINITAS LITHIUM PROJECT, ARGENTINA

MGX Minerals Inc.'s joint venture partner, A.I.S. Resources Ltd., has commenced drilling at the Salinitas lithium project in Argentina. Samples recovered thus far from a 43-metre interval show a porous coarse sand which is conducive to the transmission of brines. The trenching program completed in October confirmed the presence of these porous sands. Resistivity of these sands is expected to be encountered at depth. The objective of the drill program is to test two geophysical anomalies generated from the previously completed TEM (transient electromagnetic) survey. These anomalies represent potential aquifer structures based on interpretation of the geophysical profiles. Brines will be sampled down to 400 m, with specific yield and other porosity tests. Subject to brine composition and flow rate, one well will commence a 30-day pump test.

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 northwestern Argentina near the border of Chile, an area renowned for its lithium- and potassium-rich brine. Salinas Grandes has been explored with positive results reported in 2013 by Orocobre and is currently being explored by other lithium exploration companies.

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. MGX is prepared to mobilize a rapid lithium extraction system to the Salinitas project.

Salinitas partnership

Property agreement

MGX has partnered with A.I.S. Resources on the project and is currently earning an undivided 80-per-cent interest by incurring total exploration expenditures of $1.2-million (U.S.) and by making payments totalling $3.2-million (U.S.) by May 31, 2020.

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 and technology company with interests in global advanced material, energy and water assets.

We seek Safe Harbor.