WASHINGTON, July 12, 2022 (GLOBE NEWSWIRE) — Western Magnesium Corporation (WMC) (TSXV: WMG.V; Frankfurt-3WM; OTCQB: MLYF) (“Western Magnesium” or the “Company”) has received 99.83% metal purity results from the first calibration process run of unrefined magnesium metal produced directly from the commercialized pilot plant.
The metal purity samples were prepared by the Company’s process engineer, Dr. Tyler Davis. The magnesium metal analysis was conducted by Laser Ablation ICP Mass Spectrometry at FiLTER located at the University of British Columbia Okanagan, in Kelowna, BC, Canada.
The metal purity analysis resulted in a magnesium concentration of 99.83%, exceeding Western Magnesium’s expectation of 99.80% purity.
Edward Lee, Executive Chairman, said, “This is a phenomenal outcome as the samples are unrefined and straight from the reactor, representing the opportunity for the Company to produce many different product lines from our magnesium metal including alloys, whether it be in an ingot or molten form without refining.”
Paul Sauvé, Chief Technology Officer, said, “Achieving metal purity greater than 99.80% this early in the optimization phase is an unprecedented achievement and provides further confidence that we have not only met, but also exceeded our goals.”
This achievement further positions Western Magnesium as the front-runner in the American manufacturing revolution of producing clean magnesium and bringing the production of this critical mineral back to the United States.
About Western Magnesium
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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.
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.
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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.
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