VANCOUVER, British Columbia, July 25, 2018 (GLOBE NEWSWIRE) -- MGX Minerals Inc. (“MGX” or the
“Company”) (CSE:XMG) (FKT:1MG) (OTCQB:MGXMF) is pleased to announce it has entered into an Option Agreement (the “Agreement”) with
A.I.S. Resources (TSX.V:AIS) to acquire an 80% interest in the Salinitas lithium brine mining tenements (“Salinitas” or the
“Project”) located in the lithium triangle of Argentina, Salar de Salinas Grandes, Province of Salta. The 4,308-hectare contiguous
land package resides in the Puna region of northwest Argentina near the border of Chile, an area renowned for its lithium and
potassium rich brine resources.
The surface elevation of the Salinas Grandes salar is approximately 3,400 metres above sea level. The salar forms a composite
closed basin with internal drainage, where discharge occurs by evaporation. Water inflow into the salar is produced by
precipitation, superficial and groundwater incursions. MGX plans to conduct a Transient Electromagnetic Method (TEM) geophysical
study along with trenching, which will be followed by a drill program along the edge of the salar, to test for shallow, near
surface brines and determine locations with anomalous concentrations of lithium.
To secure the Option Agreement, MGX has agreed to pay US$250,000 on or before July 31,2018. The Company can acquire an undivided
80% in the Project at any time during the Agreement by making payments totaling C$3.2 million. MGX has also agreed to incur total
expenditures of at least US$1.2 million prior to May 31, 2020.
Rapid Lithium Brine Extraction Technology
MGX has developed a rapid lithium extraction technology eliminating or greatly reducing the physical footprint and investment in
large, multi-phase, lake sized, lined evaporation ponds, as well as enhancing the quality of extraction and recovery across a
complex range of brines as compared with traditional solar evaporation. This technology is applicable to petrolithium (oil
and gas wastewater), natural brine, and other brine sources such as lithium-rich mine and industrial plant wastewater. The
technology was recently chosen as winner of the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global
Platts Global Metals Awards, held in London in May (see press release dated May 18, 2018).
Qualified Person
Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals, has prepared, reviewed and approved the scientific and
technical information in this press release. Mr. Kikauka is a non-independent Qualified Person within the meaning of National
Instrument 43-101 Standards.
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North
America. Learn more at www.mgxminerals.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively
"forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically
identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are
those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided
by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in
forward-looking information as a result of various factors. The reader is referred to the Company's public filings for a more
complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR
at www.sedar.com.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c50fbe01-dd97-42ce-b4e3-42c65ea38efe
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/7819447f-aa89-4a7e-bc83-30025e820aba
Contact Information Jared Lazerson President and CEO Telephone: 1.604.681.7735 Web: www.mgxminerals.com
