Mr. Jared Lazerson reports

MGX MINERALS PROVIDES CLARIFICATION ON ACQUISITION OF LISBON VALLEY PETRO LITHIUM PROJECT IN UTAH

MGX Minerals Inc. is providing further details on the previously announced acquisition of the Lisbon Valley petro lithium project (see the press release dated Feb. 2, 2017).

Per terms of the agreement, the company has the right to purchase a 100-per-cent interest in 888 placer mineral claims for $75,000 (U.S.) upon execution (paid), $25,000 (U.S.) within 90 days and the issuance of 200,000 common shares of the company. Additionally, the agreement provides the vendor with a 2-per-cent underlying net smelter royalty, which the company may buy back at any time for $1-million.

The company also wishes to clarify that placer claims in the state of Utah include certain subsurface minerals and are not limited only to surface rights.

About MGX Minerals Inc.

MGX Minerals is a diversified Canadian mining company engaged in the development of large-scale industrial mineral portfolios in Western Canada and the United States. The company operates lithium, magnesium and silicon projects throughout British Columbia and Alberta, as well as petro lithium exploration in Utah. MGX recently released a maiden National Instrument 43-101-compliant mineral resource estimate for its Driftwood Creek magnesium project, which outlined 8.3 million tonnes grading 43.31 per cent magnesium oxide. In January, the company received a 20-year mining lease for Driftwood Creek.

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