(TheNewswire)
WASHINGTON,D.C.–TheNewswire–February 8, 2023–WesternMagnesiumCorporation(WMC)(TSXV:WMG);(Frankfurt-3WM);(OTC:MLYF)(“WesternMagnesium”orthe“Company”)is pleased to announce the Commercial Pilot Plant is ready to move into the final stage of continuous metal production.
All necessary required mechanical upgrades identified during the initial optimization reactor runs have been completed, proving successful metal processing capabilities. The Commercial Pilot Plant will be ready to enter a continuous phase setting the stage for continuous metal production.
Executive Chairman, Ed Lee, states “After the successful initial run, we are confident moving into the continuous phase. This is an exciting time as we have been able to show success with initial optimization runs.”
Executive President and CEO, Sam Ataya, states “We have been in discussions with multiple end users about metal production from our commercial pilot plant. Due to demand being very high and magnesium metal availability being scarce globally, and particularly in the United States, discussions with the end users have been escalated and we are working with end users to supply magnesium metal from our Commercial Pilot Plant.”
AboutWesternMagnesium
WesternMagnesium'sgoalistobealow-costproducerofgreen,primarymagnesiummetal,astrategiccommodityprized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium lookstouseacontinuoussilicothermicprocesstoproducemagnesium,whichsignificantlyreduceslaborandenergycostsrelativetocurrentmethodsandprocesses, while beingenvironmentallyfriendly.
InvestorRelations:JohnUlmer|julmer@westmagcorp.com|(604)423-2709
Forward-LookingStatements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risksand uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors,including the Company's dolomite reserves may not be mined because of technical, regulatory, financing or otherobstacles, the market price for magnesium may make our resources uneconomic and we may not be able hire andretain skilled employees. The Company undertakes no obligation to update forward-looking information except asrequiredby law.Thereaderiscautionednottoplaceunduereliance onforward-lookingstatements.Theseforward-lookingstatementsaremadeasofthedateofthisnewsrelease.
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Thisnewsreleasedoesnotconstituteanoffertosellorasolicitationofanoffertobuyanyofthesecuritiesdescribedin this news release. Such securities have not been, and will not be, registered under the United States Securities Actof1933,asamended(the“U.S.SecuritiesAct”),oranystatesecuritieslaws,and, accordingly, maynotbeofferedorsold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, assuch term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S.SecuritiesActandapplicablestatesecuritieslawsorpursuant toanexemptionfromsuchregistrationrequirements.
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