Mr. Jared Lazerson reports

MGX MINERALS OUTLINES 17,000 BARRELS PER DAY OF PAST PRODUCTION AT ALBERTA LITHIUM PROJECT- INITIATES PILOT PLANT DESIGN

MGX Minerals Inc. has identified an initial group of 16 past-producing wells for test production. The wells are within the lithium-bearing brine pools of the Swan Hills formation near Fox Creek, Alta. These wells cover an area of approximately eight kilometres in length and up to 3.2 km in width. This area represents approximately 2,500 hectares of MGX's 96,000-hectare Alberta lithium properties. Past production of brine in the most recent wellhead production reports for the cluster totalled 17,000 barrels per day as reported in the GeoScout database. A central well of the cluster reported historical grade of 130 milligrams/litre Li and two additional nearby wells reported historical grades of 117 mg/l and 130 mg/l at three km and 10 km, respectively, as reported in the provincial industrial minerals database.

Process design and pilot plant engineering

MGX is in discussion with specialized engineering firms for initial design, process flow and equipment list to construct a 20,000 bpd plant for the extraction of lithium, potassium and magnesium compounds. The company aims to design a conventional high-efficiency, high-recovery extraction plant.

"We believe the next major milestone is process design and pilot plant engineering. The initial group of wells identified are operational with past production of brine and we do not foresee well production issues. It is time we put a production process in place," stated MGX president and chief executive officer Jared Lazerson.

Lithium properties

MGX Minerals has entered into a purchase agreement to acquire a 100-per-cent undivided interest in 12 metallic and industrial mineral permits and permit applications encompassing 96,000 hectares throughout the province of Alberta.

The properties were acquired based on compilation of historic oil and gas well data and known geology. Lithium-, potassium- and magnesium-rich brines have been identified with historic levels of lithium reported up to 140 mg/l. These are the highest reported levels of lithium for existing wells in the province as reported in the provincial industrial mineral database.

Qualified person

This press release was prepared under the supervision and review of Andris Kikauka, PGeo, vice-president of exploration for MGX Minerals. Mr. Kikauka is a non-independent qualified person within the meaning of National Instrument 43-101.

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