MGX Minerals to Proceed with Hydrogen Gasification and Battery Metals Extraction from Petroleum Coke; Receives Initial Vanadium Nickel Cobalt Assay Results

VANCOUVER, BRITISH COLUMBIA / February 23, 2018 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FKT: 1MG) is pleased to announce the Company has chosen to proceed with its previously announced partnership with Highbury Energy Inc. (“Highbury”) to develop a detailed thermochemical gasification process to extract metals such as nickel, vanadium, cobalt and hydrogen from petroleum coke (“Petcoke”).

Petcoke samples were obtained from Alberta oil sands (Sample #1) and refinery (Sample #2) sales stockpiles of available petcoke. Samples were analyzed by Acme Labs of Vancouver, British Columbia using standard ICP analyses. Results were as follows:

Further analysis of concentrate post-gasification ash samples is now underway with ash amounting to 3% of oil sands petcoke by weight and less than 1% of the refinery petcoke sample. It is expected that the concentrations of metals will directly correspond with the reduction in material, approximately 30x and over 100x, respectively. Analyses of the ash concentrate is expected shortly.

A Phase II study is currently being completed by Highbury and will include analyses of potential site locations, inclusion of pilot scale gasification, advanced metals extraction process design and initial plant design parameters.

Background
Petcoke is a carbon material by-product of the oil and gas industry that forms during the oil refining process. As refineries have become more efficient at processing extra heavy crude oils (bitumen) over the last two decades, output of Petcoke globally has risen significantly. Because Petcoke originates from heavier petroleum fractions, its denser impurities such as metals and sulphur compounds are concentrate in it.

The majority of Canadian Petcoke output occurs in close proximity to oil sand producing regions, where bitumen is upgraded into synthetic crude oil. Specifically, the Province of Alberta is known to host vast stockpiles of Petcoke. According to the Alberta Energy Regulator, petcoke inventories are estimated to have reached 106 million tonnes in 2016⁽¹⁾.

 ⁽¹⁾ Source: Alberta Energy Industry, Alberta Mineable Oil Sands Plant Statistics

Qualified Persons
The technical portions of this press release were reviewed by Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards.

About Highbury Energy
Highbury Energy Inc. is an innovative energy company dedicated to the development and utilization of renewable energy resources through the procurement and conversion of biomass. Highbury has developed a proprietary dual-bed steam gasification technology and patented gas cleanup system that converts biomass into high-grade synthesis or fuel gas. This robust process produces a medium calorific value gas from most types of organic matter, such as wood or agricultural wastes, without need of tonnage oxygen. The cleaned synthesis gas can readily replace natural gas in industrial kilns and furnaces in the mineral, pulp & paper, glass, and cement industries. Alternately, the syngas can fuel an internal combustion engine to make electricity, with waste heat used for refrigeration, or district heating.  Syngas can also be converted to high value low carbon liquid fuels such as diesel or jet fuel, or into chemicals such as methanol or ethanol.

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.

Contact Information
Jared Lazerson
President & CEO
Telephone: 1.604.681.7735
Web: 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”, “postulate” 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.

Disclaimer

© 2010 Junior Gold Report and TechMoney360

Junior Gold Report and TechMoney360 Newsletter: Junior Gold Report’s and Tech Money 360’s Newsletter is published as a copyright publication of Junior Gold Report (JGR) and TechMoney360 (TM360).  No Guarantee as to Content:  Although JGR/TM360 attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. It may contain errors and you should not make any investment decisions based on what you have read on here. JGR/TM360, its associates, authors, and affiliates are not responsible for errors or omissions. By accessing the site and receiving this email, you accept and agree to be bound by and comply with the terms and conditions as set out herein. If you do not accept and agree to the terms you should not use the Junior Gold Report and TechMoney360 sites or accept this email. Consideration for Services: JGR/TM360, it’s editor, affiliates, associates, partners, family members, or contractors have an interest and position in the featured company (MGX Minerals) , as well as sponsored companies which compensate JGR/TM360 as such our opinions are biased. We do hold potions in and trade these stocks of the companies we profile and as such our opinions are biased. JGR/TM360 and its’ owner and affiliates/associates may buy/sell and trade the featured companies from time to time. JGR/TM360 has been paid by the MGX Minerals in the form of cash, shares and stock options. Thus, multiple conflicts of interest exist. Therefore, information provided here within should not be construed as a financial analysis but rather as an advertisement. Conduct your own due diligence: The author’s views and opinions regarding the companies featured in report(s) are his/her own views and are based on information that he/she has researched independently and has received, which the author assumes to be reliable. You should never base any buying/selling/trading decisions off of our emails, newsletter, website, videos or any of our published materials. JGR/TM360 aims to provide information and often stock ideas but are by no means recommendations. The ideas and companies featured are highly speculative and you could lose your entire investment – consult a licensed financial advisor if you are considering investing in any of the featured companies. Subscribers/readers are encouraged to conduct their own research and due diligence. The companies mentioned are high risk and considered penny stocks that contain a high risk of volatility, therefore consult your investment advisor and do your own due diligence before purchasing. Never base any investment decision on information contained from our emails, newsletter, website, videos or any of our published materials. No Offer to Sell Securities: JGR/TM360 is not a registered broker dealer, investment advisor, financial analyst, stock picker, investment banker or other investment professional. JGR/TM360 is intended for informational, educational and research purposes only. It is not to be considered as investment advice. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR/TM360 may contain links to related websites for stock quotes, charts, etc. JGR/TM360 is not responsible for the content of or the privacy practices of these sites. Information contained herein was extracted from public filings, profiled company websites, and other publicly available sources deemed reliable. Information in this report was taken on or before writing and dissemination and may not be updated. Do you own due diligence as information and events can and do change. Published reports may reference company websites or link to company websites and we disclaim and responsibility for the content and accuracy of any such information or website. Cautionary Statement: MGX may decide to advance its petrolithium projects into production without first establishing mineral resources supported by an independent technical report or completing a feasibility study. A production decision without the benefit of a technical report independently establishing mineral resources or reserves and any feasibility study demonstrating economic and technical viability creates increased uncertainty and heightens economic and technical risks of failure. Historically, such projects have a much higher risk of economic or technical failure. All statements in this report, other than statements of historical fact, should be considered forward-looking statements. Release of Liability: By reading and/or watching videos by JGR/TM360, you agree to hold JGR/TM360, its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.

Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by the use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report/TechMoney360 does not take responsibility for the accuracy of forward looking statements and advises the reader to perform their own due diligence on forward looking numbers or statements.

MGX MINERALS ANNOUNCES COMPLETION OF 3,000 METRE DRILL PROGRAM AT CASE LAKE LITHIUM; 8,000 METRE SPRING DRILL PROGRAM PLANNED

MGX Minerals Inc.’s joint venture partner Power Metals Corp. has completed a 30-hole, 3,000-metre diamond drill program on the Northeast dike at its Case Lake property near Cochrane, Ont. Drilling successfully intersected multiple course-grain pale green spodumene zones at shallow depths and over good intervals (see Figure 1). All drill core has been shipped to SGS Canada Inc. for assay.

Planning for the spring/early summer exploration program on Case Lake Property, Cochrane, Ontario is underway and will consist of:

8000 m of drilling over three targets (Table 1)

Geological Mapping

Spring Targets Area Meterage
1 Between Main and South Dykes 3000 m
2 Between Main and NE Dykes 3000 m
3 West side of Main Dyke 2000 m
total 8000 m

Fall Targets Area Meterage
4 East Dyke 2000 m
5 Down Dip of Main Dyke 3000 m
6 domes TBA

Table 1 2018 Proposed Drilling at Case Lake

Proposed Drilling

The proposed 8000 m drilling for the spring/early summer drill program will target the new spodumene pegmatite dykes located between the Main Dyke and the South Dyke (Figure 2 {A –} Target 1). These new spodumene dykes were discovered at the end of the 2017 Main Dyke drill program (Power Metals press release dated Nov. 27, 2017). One of the new dykes was intersected in drill hole PWM-17-49 with 1.61 % Li2O and 143.8 ppm Ta over 3.0 m (see press release dated January 24, 2018).

The spring/early summer drill program will also target the area between the Main Dyke and the Northeast Dykes (Figure 2 – Target 2). Coarse-grained spodumene pegmatite was intersected in the 5400 m drill program on the Main and North Dykes and in the 3020 m drill program on the Northeast Dyke. The Northeast Dyke is located 900 m northeast along strike of the North and Main Dykes and is within the same tonalite dome as the North and Main Dykes. Since the Northeast, North and the Main Dykes are along the same strike and within the same dome, this indicates that they were emplaced along the same deep-seated structure. The drill program between the Main and Northeast Dykes will test the presence of the spodumene mineralization along strike.

A drill program will test spodumene mineralization identified during the mapping program on granitic outcrops west of the Main Dyke (Figure 2 – Target 3).

Additional targets will be drilled in Fall 2018 including the East Dyke, down dip extension of Main Dyke and dome targets identified during the Spring mapping program.

Proposed Mapping

Power Metals identified that the Main, North, South, East and Northeast pegmatite dykes are not hosted by the Case Batholith as previously thought, but by a single laccolith (Power Metals press release dated Nov. 6, 2017). A laccolith is a dome-shaped igneous body with a flat bottom which is an offshoot of a batholith. A laccolith looks similar to a water drop on a table. The Case Batholith is a 50 x 85 km ovoid granitic complex characterized by a gravity low. Power Metals has identified that the Batholith has multiple domes along its margins.

The domes are visible in Google Earth images as white outcrops and are topographic highs. These domes have no historic exploration work on them and they have the potential to host spodumene pegmatites similar to the Main and the Northeast Dykes. A total of nine domes have been identified on the Case Lake Property and will be mapped and sampled:

Three domes along the Translimit Road

Three domes near the intersection of the Translimit Road and the Crossover Road

A dome bisected by the Tomlinson Road

The “Henry Dome” which hosts the Main, North, South, East and Northeast Dykes

A dome near Kabika Lake

Exploration on the domes will consist of traverses along GPS grid lines within each dome to map the lithology and collect grab samples to evaluate the lithium content of the tonalite/granodiorite and pegmatite dykes. Pegmatite dykes will be stripped, trenched and power washed to expand their exposure. Spodumene pegmatite dykes will be channel sampled and assayed. Each dome will be evaluated as a potential drill target.

Case Lake

The Case Lake Property is located in Steele and Case townships, 80 km east of Cochrane, NE Ontario close to the Ontario-Quebec border. The Case Lake pegmatite swarm consists of five dykes: North, Main, South, East and Northeast Dykes. The Northeast Dyke contains very coarse-grained spodumene. MGX currently has a paid up 20% working interest in Case Lake and four other lithium hard rock properties in Ontario controlled by Power Metals as well as any additional properties acquired prior to August 2020. The Company has the right to acquire an additional 15% working interest, for a total of 35%, in Case Lake Lithium and the other lithium properties by making a one-time payment of $10M prior to August 2020. The Company holds an option to acquire 10,000,000 shares of Power Metals at $0.65 (see press release dated August 2, 2017).

Qualified Person

The technical portions of this press release were reviewed by Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals. 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.

We seek Safe Harbor.

Disclaimer

© 2010 Junior Gold Report and TechMoney360

Junior Gold Report and TechMoney360 Newsletter: Junior Gold Report’s and Tech Money 360’s Newsletter is published as a copyright publication of Junior Gold Report (JGR) and TechMoney360 (TM360).  No Guarantee as to Content:  Although JGR/TM360 attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. It may contain errors and you should not make any investment decisions based on what you have read on here. JGR/TM360, its associates, authors, and affiliates are not responsible for errors or omissions. By accessing the site and receiving this email, you accept and agree to be bound by and comply with the terms and conditions as set out herein. If you do not accept and agree to the terms you should not use the Junior Gold Report and TechMoney360 sites or accept this email. Consideration for Services: JGR/TM360, it’s editor, affiliates, associates, partners, family members, or contractors have an interest and position in the featured company (MGX Minerals) , as well as sponsored companies which compensate JGR/TM360 as such our opinions are biased. We do hold potions in and trade these stocks of the companies we profile and as such our opinions are biased. JGR/TM360 and its’ owner and affiliates/associates may buy/sell and trade the featured companies from time to time. JGR/TM360 has been paid by the MGX Minerals in the form of cash, shares and stock options. Thus, multiple conflicts of interest exist. Therefore, information provided here within should not be construed as a financial analysis but rather as an advertisement. Conduct your own due diligence: The author’s views and opinions regarding the companies featured in report(s) are his/her own views and are based on information that he/she has researched independently and has received, which the author assumes to be reliable. You should never base any buying/selling/trading decisions off of our emails, newsletter, website, videos or any of our published materials. JGR/TM360 aims to provide information and often stock ideas but are by no means recommendations. The ideas and companies featured are highly speculative and you could lose your entire investment – consult a licensed financial advisor if you are considering investing in any of the featured companies. Subscribers/readers are encouraged to conduct their own research and due diligence. The companies mentioned are high risk and considered penny stocks that contain a high risk of volatility, therefore consult your investment advisor and do your own due diligence before purchasing. Never base any investment decision on information contained from our emails, newsletter, website, videos or any of our published materials. No Offer to Sell Securities: JGR/TM360 is not a registered broker dealer, investment advisor, financial analyst, stock picker, investment banker or other investment professional. JGR/TM360 is intended for informational, educational and research purposes only. It is not to be considered as investment advice. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR/TM360 may contain links to related websites for stock quotes, charts, etc. JGR/TM360 is not responsible for the content of or the privacy practices of these sites. Information contained herein was extracted from public filings, profiled company websites, and other publicly available sources deemed reliable. Information in this report was taken on or before writing and dissemination and may not be updated. Do you own due diligence as information and events can and do change. Published reports may reference company websites or link to company websites and we disclaim and responsibility for the content and accuracy of any such information or website. Cautionary Statement: MGX may decide to advance its petrolithium projects into production without first establishing mineral resources supported by an independent technical report or completing a feasibility study. A production decision without the benefit of a technical report independently establishing mineral resources or reserves and any feasibility study demonstrating economic and technical viability creates increased uncertainty and heightens economic and technical risks of failure. Historically, such projects have a much higher risk of economic or technical failure. All statements in this report, other than statements of historical fact, should be considered forward-looking statements. Release of Liability: By reading and/or watching videos by JGR/TM360, you agree to hold JGR/TM360, its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.

Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by the use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report/TechMoney360 does not take responsibility for the accuracy of forward looking statements and advises the reader to perform their own due diligence on forward looking numbers or statements.