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MGX Minerals Inc.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  1080 Howe Street, Suite 303
Vancouver, B.C.
Canada V6C 2T1
Tel No.: (604) 681-7735
Web Site: www.mgxminerals.com
E-mail: jared@mgxminerals.com
Contact Person: Jared Lazerson
Position: President, CEO & Director


Company Data

Traded Market: CSE
Traded Symbol: XMG
Outstanding Shares: 41.6 Million
52 Week High: $ 0.70
52 Week Low: $ 0.08
Present Price: Click Here


Introduction

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MGX Minerals is a diversified Canadian mining company focused on building shareholder value through the acquisition and development of industrial mineral deposits that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. The Company operates magnesium, lithium and silicon projects in the mining-friendly Provinces of British Columbia and Alberta. MGX’s objective is to bring 7-10 industrial mineral mines online over next decade.


Projects in Hand

(1) Driftwood Creek Magnesium Project

MGX Minerals is building a North America's next magnesium oxide mine at Driftwood Creek. MGX recently received approval of a 20-year Mining Lease for its Driftwood Creek magnesium project located in southeastern British Columbia. The Company has conducted two rounds of diamond drilling and recently completed a 100-tonne bulk sample for metallurgy and resource estimate purposes. The Company controls a majority of magnesium properties throughout the Province as reported by the British Columbia Geological Survey (BCGS) (Simandl, 2014).

Project Highlights:

  • Located in Established Mining District: Driftwood Creek resides in the Driftwood mining district of southeastern British Columbia; 164 km north of Cranbrook, B.C.
  • Near-Term Production Profile: Mining lease approved; 100-tonne bulk sample underway.
  • Mining and Milling: Amenable to open-pit mining and established beneficiation methods.
  • Excellent Infrastructure: Access to rails, road, labour and electricity in established mining district.
  • Favourable Geology: Magnesite mineralization traced over 2,000 metres; remains open in both directions and at depth.

Cranbrook Mill Site Acquisition

  • Definitive agreement signed to acquire Cranbrook mill site from Tembec Inc.
  • Centrally located in Cranbrook, B.C. industrial park; complex spans 38 hectares (98 acres)
  • Fully serviced industrial site with access to natural gas, water, power and railroad
  • Provides centralized location to process mineralized material from numerous operations throughout region

Upcoming Driftwood Milestones

  • Completion of Maiden NI 43-101 Mineral Resource Estimate for Driftwood Creek
  • Completion of 100-tonne Bulk Sample from Driftwood and Shipment to Industrial Furnace Company in Rochester, New York for Pilot Plant Testing
  • Completion of Cranbrook mill site purchase from Tembec for CA$3.7 million

(2) Alberta Lithium Project

In early 2016 the Company identified opportunities to acquire and develop underexplored lithium brine properties throughout the Province of Alberta. Since that time the Company has consolidated a strategic land position spanning over 300,000 hectares, which includes 14 of the top 25 historical high grade lithium properties (>=90 mg/L lithium) as reported by the Alberta Geological Survey (AGS, 2013). A NI 43-101 Technical Report for MGX’s Lithium Brine Project in Alberta has been completed.

Project Highlights:

  • Strategic land position spanning 300,000 hectares throughout mining-friendly Province of Alberta
  • Properties located within and around past producing oil fields that are fully serviced with wellheads in place
  • Permits cover some of the highest reported levels of lithium-bearing brine throughout Province reaching up to 140 mg/L lithium(1)
  • 16 past producing wells identified to date within Swan Hills formation near Fox Creek covering an area of approximately 8.0 x 3.2 km
  • Six permits located within Fox Creek area with reported historic lithium values ranging between 115-140 mg/L lithium

(1) All assays referenced are from the geoScout Oil & Gas Industry database as reported by well operators and monitored by the Government of Alberta

Scoping Study Results

  • Reduction in production time of lithium brine by >99% over current production time for brine
  • Multiple end market products including lithium carbonate, sodium chloride and calcium chloride with potential for production of boron and bromine
  • Strategic sourcing of reagents to reduce input costs
  • Application of energy efficient technology to reduce operating expenditures (OPEX)
  • Utilization of existing oil and gas infrastructure as well as equipment to reduce capital expenditures (CAPEX) and decrease construction time

(3) British Columbia Silicon Project

MGX also controls three high-grade silicon projects in British Columbia. Exploration work to date has identified elevated silicon dioxide (SiO2) levels at each project that compare favorably to other silica operators throughout the Province. Recent field reconnaissance by MGX reported SiO2 levels reaching up to 99.9%. The Company believes that further metallurgy work is warranted to identify potential ferrosilicon end market uses.

Project Highlights:

  • Established Mining District: Properties reside in established mining districts of southeastern British Columbia.
  • Production Profile: Quartzite mineralization considered high purity and similar to other producing silica mines in British Columbia.
  • Mining and Milling: Potentially amenable to open-pit mining and established beneficiation methods.
  • Excellent Infrastructure: Access to rails, road, labour and electricity in established mining districts.
  • Investment Summary
    • Industrial Minerals Focus
      • Focused on mining critical industrial minerals to supply domestic market demand
    • Near-Term Potential
      • Developing projects that offer near-term cash flow and require low initial capital expenditures
    • Tier-One Jurisdictions
      • Operating in secure and mining-friendly regions of North America
    • Diversified Mineral Assets
      • Project portfolio that will support objective of multiple mines across multiple minerals
    • Tight Share Structure
      • 41.6 million shares outstanding


    Management

    Management and Directors

    Jared Lazerson, BA (International Relations), President, Chief Executive Officer and Director

    Mr. Lazerson has worked in the mining and technology industries since 1994 with companies including Osprey Systems (GPS and Digital Mapping), United Helicopters, Copper Island Mines and Manto Resources.

    Michael Reimann, Ph.D., Chief Financial Officer and Director

    Dr. Reimann has over 45 years of experience in senior corporate management in both public and private companies. Most recently Dr. Reimann served as CFO of Skana Capital and PNG Gold.

    Andris Kikauka, P.Geo., VP of Exploration and Director

    Mr. Kikauka is a geologist with over 30 year of experience. He was Project Geologist at Goldrea Resources. Mr. Kikauka is Project Geologist for Rio Minerals, as well as a director of American Manganese Inc. Mr. Kikauka was previously a director of Navarre Resources Corp.

    Lyndon Patrick, LL.B., Director

    Mr. Patrick is a Vancouver-based, independently practicing lawyer. He has practiced in British Columbia since 2001.

    H. David Read, MBA, Director

    Mr. Read has been a financial analyst for approximately 40 years.


    News Update

    On September 5, 2016, MGX Minerals Inc. announced that it has entered into a binding letter of intent to acquire an initial 50-per-cent interest in PurLucid Treatment Solution (Canada) Inc. in exchange for a $5-million staged investment over two years and the right to acquire a 100-per-cent interest for an additional investment of $10-million. PurLucid has exclusive licensing to, assisted in development of, and deployed, proprietary and patented technology that separates oil, to a high degree of purity, from lithium-bearing brine, removing one of the major hurdles of oil field lithium brine production.

    On July 18, 2016, MGX Minerals Inc. announced that it has acquired the Pond magnesium occurrence (located 60 kilometres north of Cranbrook, B.C.) and expanded its Marysville magnesium project (located just 25 kilometres north of Cranbrook, B.C.) to more than 480 hectares (1,190 acres). Both projects were previously operated by the Consolidated Mining Company of Canada (Cominco, now Teck Resources) and are now 100 per cent controlled by MGX. These two new projects cover long strike lengths, have had historic drilling and are close to infrastructure.

    On July 11, 2016, MGX Minerals Inc. announced that it is mobilizing field crews to conduct a detailed water geochemical sampling program on 22 high-priority wells at its Alberta lithium project.

    On June 29, 2016, MGX Minerals Inc. announced that it has retained ChemCognition LLC of Huntersville, N.C., to provide strategic marketing and product development services for MGX's Alberta lithium properties.


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