For immediate release.
Mag One Products’ Progress Report and New Team Member
VANCOUVER, BRITISH COLUMBIA, CANADA/17 MAY 2016..
MAG ONE PRODUCTS INC. (“Mag One” or the “Company”) has a program underway to produce 99.9% pure magnesium (“Mg”) metal, high-purity Mg compounds, and byproducts from its extensive supply of serpentine-rich mine tailings (~23% Mg) located near Danville, Quebec, Canada.
MAGNESIUM:
Originally, Mag One’s cost of the tailings was $1.50/tonne. However, the supplier, Mine Jeffrey, has now agreed as of May 13, 2016, to reduce this cost to $1.00/tonne, a savings of $15,000,000.00, provided the Company starts production by January 01, 2017. Accordingly, Mag One’s target is to be producing >98% pure MgO on or before January 01, 2017. Note that this MgO production is a precursor to the Company’s ultimate aim of production of Mg metal.
Mag One is also pleased to report that its first 10,000 tonne/annum, environmentally benign (CO2- and chlorine-free), modular manufacturing plant (to convert the tailings to high-purity MgO and Mg(OH)2) is now in an advanced stage of design. Selected pieces of processing equipment for the plant are being sourced in preparation for commencing operations this fall/winter.
Recently, independent laboratory measurements in Quebec have provided key supporting evidence for Mag One’s MgO/Mg(OH)2 production process concept. Details of the test results will be released by Mag One after completion of two patent applications.
LITHIUM:
Further, the Company hereby announces that Dr. Jagmohan Singh—formerly with the renowned Oak Ridge National Laboratory (ORNL) in Oak Ridge, TN, USA—has been hired to provide key technical assistance to Dr. Jim Blencoe in Mag One’s work to bring the Mg concept to
commercialization. Dr. Singh’s mandate is to help advance Mag One’s innovative, proprietary, modular MgO/Mg(OH)2/Mg production concept, and in parallel, to work closely with Dr. Blencoe to develop similar modular production methods for manufacturing lithium hydroxide, LiOH, and lithium carbonate, Li2CO3, from spodumene, LiAlSi2O6. It should be noted that Dr. Blencoe already has experience with lithium, having been part of a lithium-production patent application team while at ORNL.
Signed:
“Nelson M. Skalbania”, B.Ap.Sc., M.Sc., P.Eng.
Chairman
MagOneProductsInc.is a company that aims to be the diamond standard in the magnesium (Mg) market by concentrating 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