For immediate release.
Mag One Products Inc.: Company Update : Quebec and MgO + SiO2
VANCOUVER, BRITISH COLUMBIA, CANADA/16 September 2016.
MAG ONE PRODUCTS INC. (“Mag One” or the “Company”) is pleased to provide an update on the progress being made to commercialize its novel processes for producing magnesium metal (Mg) and high-purity magnesium compounds.
Key members of Mag One’s project team met in Quebec City on 11 September 2016 to review the preliminary results of design and evaluation work performed by SNC Lavalin and to discuss the commercial potential of the high-value solid materials that have been produced in laboratory test work performed by engineers at the University de Sherbrooke (UdeS).
Mag One’s serpentinite (magnesium silicate-rich) ore contains not only ~22% magnesium, but also ~18% silicon and ~0.23% nickel. Mag One has previously announced that it can produce high-purity magnesium oxide, MgO, from that rock. In addition, recent work has shown that the silicon contained within the serpentinite can be transformed into high-value amorphous silica (SiO2), which has commercial applications in the construction industry as a replacement for silica fume in concrete and in the rubber tire industry as a replacement for carbon black. Furthermore, the iron residue from the magnesium recovery process has been projected to contain 2.4% nickel, which has potential value for existing nickel recovery operations. Therefore, Mag One’s MgO + SiO2 manufacturing will be a near-zero discharge operation, as the mass of solid waste generated will be very small and non-hazardous.
Mag One has also been in discussions with companies that are showing great interest in offtake agreements for its high-purity magnesium compounds and silica co-product(s). In order to secure these agreements and to ensure that the manufactured products meet the purity and morphology characteristics needed to garner the highest price per tonne, Mag One is moving forward with a small pilot plant to generate MgO and SiO2 for testing and certification by third parties. It is anticipated that the pilot plant will be up and running by Q4 2016 and will operate for 2 to 3 months to produce MgO and SiO2. The undertaking will be a team effort involving UdeS and Biobois Analytique in Asbestos, Quebec and the direction of the Company’s CTO, James Blencoe and his team. This work is being done concurrently as Mag One makes steady progress in advancing its method for manufacturing magnesium metal and refining the Mg production plant design.
“Dr. James G. Blencoe
Co-Chairman and Chief Technology Officer”
MagOneProductsInc.is acompanythataimstobethediamondstandardinthemagnesium(Mg)marketbyconcentrating on four projects at its manufacturing plant site in southern Québec,Canada.
- Production of high-purity MgO, Silica and other saleable co-products, byproducts andcompounds.
- Production of 99.9% pure Mg ingots.
- Assembly and sale of magnesium oxide-based structural insulated sheathing panels.
- MagPower’s Mg-Air Fuel Cell for emergency power on sea and land.
Key advantages that these four projects share are Mag One’s advanced technologies, a modular processing plant expansion concept, and the Company’s easy access to tonnes of serpentinite tailings.
Signed: “Nelson M. Skalbania.”
CEO & Chairman
www.MagOneProducts.com
For further information or questions kindly contact the Company via email: info@MagOneProducts.com
Mag One is listed on the CSE with the symbol, “MDD”, the Börse Frankfurt stock exchange (“Frankfurt”) with the ticker symbol “304” and the OTCQBwithtickersymbol"MGPRF”.Certainstatementscontainedinthisreleasemayconstitute"forward–lookingstatements"or"forward-looking information"(collectively"forward-lookinginformation")asthosetermsareusedinthePrivateSecuritiesLitigationReformActof1995andsimilar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. This release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof andthe Company is not obligated to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. This news release does not constitute an offer of securities for sale in the United States. The Frankfurt Boerse, OTQ Markets Group Inc., CSE, or CNSX Markets have not reviewed this news release and does not accept responsibility for the adequacy or accuracy of the content of this news release. Issuers of news releases. are solely responsible for the accuracy of such news releases. For further information on risk, investors are advised to see the Companies MD&A and other disclosure filings with the CSE regulators which are found at www.sedar.com.
#145 - 925 Georgia Street West, Vancouver, BC V6C3L2 Canada
T:+1.604.669.4771 Fx: +1.604.669.4731 E: info@MagOneProducts.com www.MagOneProducts.com