Mr. Sam Ataya reports

WESTERN MAGNESIUM ANNOUNCES EFFECTIVENESS OF FORM 10 REGISTRATION STATEMENT

Western Magnesium Corp.'s long-anticipated Form 10 registration statement, filed with the U.S. Securities and Exchange Commission, became effective today, Dec. 13, 2021. Moving forward, the company will be subject to the reporting requirements of the Securities Exchange Act of 1934, and is obligated to file annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

Sam Ataya, executive president and chief executive officer, said: "After lengthy delays due to the COVID-19 pandemic, we are finally in a position to be on a major United States exchange like Nasdaq or the NYSE. Additionally, this milestone will reduce the hold period from 12 months to six months for our shareholders. What's also exciting is that being Form 10 reporting opens the door for all financial institutions to participate in our financial growth."

The Form 10 provides investors with detailed information about the company's operations, including an overview of its current and planned business operations, risk factors and financial statements. This additional information should allow for investors to make an educated investment decision regarding the company. The Form 10 is available at the SEC website and SEDAR under the name of Western Magnesium.

The company is now subject to the Exchange Act proxy rules, and its management and certain shareholders are subject to its beneficial reporting requirements of sections 13 and 16.

About Western Magnesium Corp.

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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labour and energy costs relative to current methods and processes, while being environmentally friendly.

We seek Safe Harbor.