Mr. Jared Lazerson reports

MGX MINERALS ANNOUNCES WINTER DRILLING PROGRAM TO TARGET HIGH-GRADE GOLD MINERALIZATION AT DEPTH AT FRAN GOLD PROJECT

Drilling will recommence shortly at MGX Minerals Inc.'s 100-per-cent-owned Fran gold property located 30 kilometres southwest of the Mount Milligan gold-copper mine. Initial winter 2018 drilling will drill a twin vertical hole to confirm and test below historic drill hole FR-027 from 2002. Hole FR-027 was drilled in the Hilltop zone. Historic drill hole FR-027 assayed 13 metres of 3.76 grams per tonne Au from 153.00 metres to 166.00 m including 5.10 metres of 12.89 g/t Au and 18.70 g/t Au over 1.0 metre. Significant intercepts are shown in the attached table (MacIntyre 2013).

  
 
Hole              From          To      Length      Au ppm

FR-02-027        45.45       46.00        0.55        1.75
FR-02-027        46.00       48.00        2.00        2.49
FR-02-027       147.00      149.00        2.00        1.03
FR-02-027       149.00      151.00        2.00        3.47
FR-02-027       153.00      155.00        2.00        1.02
FR-02-027       155.00      157.00        2.00        2.74
FR-02-027       157.00      159.00        2.00        1.82
FR-02-027       159.00      160.90        1.90        1.74
FR-02-027       160.90      163.00        2.10       15.90
FR-02-027       163.00      165.00        2.00        6.83
FR-02-027       165.00      166.00        1.00       18.70

These data are historic in nature and based on drilling results reported by previous operators. The company believes this information, reports, data and assays are reliable and relevant. This information has been reviewed by independent qualified person Dr. D.G. MacIntyre (PEng) on behalf of the company.

Fall 2018 drilling

Drill hole FR18-95 returned a broad intercept from 227.0 to 241.0 metres of gold mineralization at depth at the Main zone within the Bullion Alley gold area. This has confirmed the extension of gold mineralization in auriferous veins from near surface to depth. The highest-grade gold mineralization was contained within a quartz-pyrite vein which averaged 21 g/t Au over 2.2 m including 35.9 g/t Au across 0.76 m and 26.70 g/t Au over 0.75 m (see press release dated Dec. 3, 2018). Drill data from the fall 2018 drill program are currently being reviewed and correlated with the existing database of 87 previous drill holes. A drill has been mobilized and winter 2018 drilling is set to commence within days.

Fran gold project

The Fran property encompasses 10,227 hectares and is located 30 kilometres southwest of the Mount Milligan gold-copper mine and 19 km by logging road from the Mount Milligan western access road. The Bullion Alley zone has been the subject of extensive shallow exploration starting in the late 1990s. Significant gold mineralization associated with shear zones has been intersected by historic diamond drilling. A total of 15,575 metres of diamond drilling were completed in 87 drill holes at the Bullion Alley zone prior to 2018. Previous drilling identified three areas along the northwest-trending 1.5 km strike with up to three lateral zones in addition to proximate gold zones such as the Hilltop zone. No significant drilling at depth has occurred on the property.

Quality assurance/quality control

Sample chain of custody is managed by site geologist Myles Dickson (PGeo). Drill core is stored and split at a secure storage facility in Fort St. James, B.C., and shipped to ACT Labs Minerals for assay using 1A2-ICP Kamloops Au-Fire Assay and 1E3-Kamloops aqua regia ICP (AQUAGEO). Blanks and standards are used for data verification purposes. ACT is an independent, ISO-certified analytical laboratory located in Kamloops, B.C.

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.

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