Mr. Jared Lazerson reports

MGX MINERALS ISSUES CLARIFICATION: JARED LAZERSON REMAINS CEO

MGX Minerals Inc. has issued a clarification regarding an unauthorized news release e-mailed to and published on the Stockwatch financial news website earlier today. At a meeting of the directors held on Oct. 7, 2019, two directors of MGX Minerals, Lyndon Patrick and Michael Reimann, attempted to move a resolution to remove Mr. Lazerson as chief executive officer. That motion was ruled out of order by the meeting chair due to procedural irregularities. In addition, the motion was defeated by a vote of 3-2, with Mr. Patrick and Mr. Reimann voting in favour of the resolution, and Mr. Lazerson and the fourth director, Andris Kikauka, voting against the resolution. Pursuant to the company's articles, Mr. Lazerson exercised the casting vote as the meeting chair.

The directors were advised during the meeting by the company's legal counsel that neither the company's articles nor the B.C. Business Corporations Act necessarily prohibited Mr. Lazerson from voting on the resolution to remove him as CEO.

Mr. Patrick and Mr. Reimann left the meeting of directors shortly after the motion to remove Mr. Lazerson was defeated, and prior to the business of the meeting being completed.

Mr. Patrick and Mr. Reimann were notified by the company following the meeting that they are not authorized to issue any press release on behalf of the company. The press release issued by Mr. Reimann earlier today was not authorized by the company and it is incorrect.

Mr. Lazerson continues to serve as CEO of the company. The company intends to call a shareholder meeting shortly.

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.