Mr. Jared Lazerson reports

MGX MINERALS PROVIDES REVENUE PROJECTIONS FOR INITIAL CONTRACTED WASTEWATER TREATMENT SYSTEMS

MGX Minerals Inc. has provided the following update on commercial-scale deployment of its first two contracted waste water treatment systems.

The first contracted system is now fully manufactured and being commissioned at an oil sand SAGD operation in Alberta to process evaporator blowdown water (EBD) and is expected to be operational shortly. Fabrication and deployment of the second contracted waste water treatment system are scheduled for June and will also be deployed to an oil sands SAGD operator in Alberta. Both systems are capable of processing 10 cubic metres per hour and upon completion of test and optimization phase, the customers will pay a fixed processing fee. The company and PurLucid anticipate generating revenue of $2.0-million in 2019 during the ramp-up period from the first two contracted operations. Contracts are currently being negotiated for additional waste water treatment systems and are expected to be finalized shortly.

The company has issued a total of 520,000 common shares as consideration for services rendered to consultants of the company. The shares are subject to a four-month hold period. Additionally, the company has granted an aggregate of 3,825,000 options to certain consultants, directors and officers. The options are exercisable at a price of 39 cents per share for a period of two years from the date of grant.

Rapid lithium brine extraction technology

MGX and PurLucid 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.

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.