Mr. John Ulmer reports

WESTERN MAGNESIUM GRANTS STOCK OPTIONS

Western Magnesium Corp. has granted 900,000 incentive stock options pursuant to its Stock Option Plan for its directors, employees, advisers and consultants. The options are exercisable at a price of 50 cents per share for a period of five years. The company has also made an amendment to the exercise price of the stock options previously granted on Aug. 30, 2021, from 70 cents to 50 cents.

Any shares issued on the exercise of these stock options will be subject to the holding period as required by the TSX Venture Exchange as well as any additional hold periods as required by United States securities laws and regulations.

This stock option grant and amendment are subject to approval by the TSX Venture Exchange.

About Western Magnesium Corp.

Western Magnesium's goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labour and energy costs relative to current methods and processes, while being environmentally friendly.

We seek Safe Harbor.