(TheNewswire)
WASHINGTON,D.C.–TheNewswire–February 13, 2023–WesternMagnesiumCorporation(WMC)(TSXV:WMG;(Frankfurt-3WM);(OTC:MLYF)(“WesternMagnesium”orthe“Company”)is pleased to provide a technical update.
Since the success of the initial optimization runs that produced 99.84% magnesium metal, we identified and completed a number of technical upgrades to our Commercial Pilot Plant setting the stage for the continuous production phase. These custom and proprietary improvements will increase reliability as we progress forward.
During this period, and due to the sensitive nature of this work, the Technical Team, led by our CTO, Mr. Paul Sauve, completed these upgrades. These proprietary upgrades have increased the vast technical knowledge of the Technical Team and will provide irreplaceable experience for the future Commercial Plant.
The equipment and process software, which is proprietary to Western Magnesium, continues to excel throughout the Commercial Pilot Plant operation.
Chief Technology Officer, Paul Sauve, states, “During the testing period, the Technical Team continues to be impressed with the proprietary equipment and software that has been developed. This gives us greater confidence and insight as we work with our engineering firms in planning the build out of the larger commercial facility.”
Executive Chairman, Ed Lee, states, “The proprietary technology and software, which has been built specifically for our green process, is truly one of a kind. Our technology represents America’s best chance at bringing production of the much sought after magnesium metal, which has been identified as a critical metal by both industry and government, back to the United States.”
The value of our technical and software upgrades gives Western Magnesium the ability to have a full package solution for the licensing of our technology in the near future. Our proprietary technology is a one-stop solution for providing a green critical metal locally and globally.
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 Unlike outdated and costly production processes, Western Magnesium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 risks and 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 other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able hire and retain skilled employees. The Company undertakes no obligation to update forward-looking information except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. These forward- looking statements are made as of the date of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
For additional information please visit our website at www.westmagcorp.comViewourprofileonSEDAR
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