Mr. Jared Lazerson reports

MGX MINERALS ACQUIRES 100% INTEREST IN LONGWORTH SILICA PROPERTY

MGX Minerals Inc. has entered into a purchase agreement with Zimtu Capital Corp. to acquire a 100-per-cent undivided interest in the Longworth silica property.

The Longworth property consists of 15 contiguous claims encompassing 1,084 hectares. The property is located approximately 85 kilometres east of Prince George, B.C., and is accessible by a network of well-maintained logging roads. Longworth is listed as one of the top silica occurrences throughout the province of British Columbia by the B.C. Geological Survey (Simandl, 2014).

"Consolidating ownership of the Longworth claims solidifies MGX's position in silica in B.C. as we prepare for the production of ferro silicon," stated MGX president and chief executive officer, Jared Lazerson.

Four northwest-trending bands of quartzite have been mapped to date at Longworth along the western flank of Bearpaw Ridge. Thicknesses reach up to 400 metres in places across a discontinuous strike length of nearly 10 kilometres. The Longworth claims were formerly explored by Silver Standard Resources Inc., which completed detailed metallurgical work on the contained silica mineralization. Internal reports suggested positive results as a potential feed source for silicon metal smelting (Quartermain, 1986). Of the 42 samples collected and analyzed by Silver Standard, 28 met the required chemical specifications, with silicon dioxide (SiO2) levels ranging between 98.84 and 99.8 per cent (assessment report 14815). Twelve of the 16 samples also boasted acceptable thermal shock results for production of silicon metal. Initial exploration at Longworth will focus on the Snow claim, where sampling of outcrop has shown consistent high-grade (around 99 per cent) silicon dioxide levels. The company aims to produce an initial 40,000 tonnes per annum of ferro silicon.

This agreement supersedes the previously announced alliance between MGX, Zimtu and Electra Gold (see press release dated Nov. 20, 2014). Per terms of the agreement, MGX will issue 700,000 common shares of the company to Zimtu at a deemed price of 30 cents.

About ferro silicon

Ferro silicon is an essential alloy in the production of iron and steel. Ferro silicon is used to remove oxygen, and increase the strength, resistance and elasticity of steel. It can also serve as the basis to manufacture prealloys like magnesium ferro silicon. According to leading independent research firm Roskill, demand for ferro silicon doubled between 2000 and 2013, while projections are forecasting growth of more than 8 per cent annually over the next five years (Roskill, 2014).

Qualified person

Andris Kikauka, vice-president of exploration for MGX Minerals, and a non-independent qualified person as defined by National Instrument 43-101, has reviewed the information contained in this news release and has verified the data.

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