Mr. Sam Ataya reports

WESTERN MAGNESIUM ATTAINS APPROVAL FOR FUTURE EFFORTS AS A GOVERNMENT CONTRACTOR

Western Magnesium Corp. has received approval from the United States federal government (USG) for registration into the System for Award Management (SAM) and has received designation of a Commercial and Government Entity (CAGE) code. This approval and designation from the Department of Defense will allow the company to compete for federal contracts and grant awards relating to future initiatives that support the Department of Defense and other United States government entities.

The SAM system is the USG's portal for managing federal contracts and conducting acquisition and financial assistance across the enterprise. Western Magnesium's CAGE code, 99LS9, is the five-character ID number the company will use to identify itself within the U.S. federal government database of registered contractors. The CAGE code was assigned by the Department of Defense's Defense Logistics Agency after a review of Western Magnesium's technical, corporate and financial information.

Executive president and chief executive officer Sam Ataya said: "We are excited to have completed the rigorous and necessary processes to pursue opportunities related to the national security interests of the United States. Western Magnesium's future production of low-cost, clean and green magnesium metal and alloys will provide the U.S. and its allies additional security against the global supply chain risks that we are witnessing today."

Western Magnesium's approval for registration into the SAM and its assignment of a CAGE code further prepares the company to be the nation's leader in the reliable domestic supply of magnesium metal and alloys that are used in the production of military defence vehicles. The company looks forward to working with the U.S. federal government in this capacity and will continue to update shareholders on future contract opportunities.

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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labour and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.