05:42:42 EDT Sun 02 Apr 2023
Enter Symbol
or Name

Western Magnesium Corp
Symbol WMG
Shares Issued 442,477,132
Close 2022-07-14 C$ 0.21
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ORIGINAL: Magnesium Metal Purity Results Received from Second Calibration Run of Commercialized Pilot Plant

2022-07-14 12:00 ET - News Release

WASHINGTON, July 14, 2022 (GLOBE NEWSWIRE) -- Western Magnesium Corporation (WMC) (TSXV: WMG.V; Frankfurt-3WM; OTCQB: MLYF) ("Western Magnesium" or the "Company") has received metal purity results from the second calibration process run of unrefined magnesium metal direct from the commercialized pilot plant.

The third-party metal purity analysis was conducted using Laser Ablation ICP Mass Spectrometry at FiLTER - Fipke Laboratory for Trace Element Research, located at the University of British Columbia Okanagan in Kelowna, BC, Canada.

The metal purity analysis resulted in a magnesium concentration of 99.62%.

Edward Lee, Executive Chairman, said, "The received purity results continue to exceed our expectations and validate without a doubt more than 11 years of research and development. When our proprietary process is fully upscaled it will eventually supply and give American industry the comfort knowing there is a domestic producer of magnesium metal that they can finally rely on for years to come."

Paul Sauve, Chief Technology Officer, said, "Achieving unrefined magnesium purity of this concentration directly from our proprietary continuous reactor on the second run will allow us to continue toward full plant optimization."

This news release was reviewed by Sarpreet Pahal, P. Eng., a Non-Independent Qualified Person.

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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and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

About FiLTER
FiLTER is a fee for service facility specializing in trace element analysis and electron microscope imaging. The intended users are primarily academic researchers, but the facility is also available for government and industry research at corresponding fee schedules. The lab exists due to an investment from the Government of Canada, through Western Economic Diversification Canada, and the generous donations of Charles Fipke, who provided the funding to purchase the ICP-AES, ICP-MS, Laser Ablation, and SEM instruments.

MediaRelations&CorporateCommunications: Ashleigh Barry | abarry@westmagcorp.com | (202) 258-4453

InvestorRelations: John Ulmer | julmer@westmagcorp.com | (604) 423-2709

Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risksand uncertainties. Actual results may differ materially from those currently anticipated due to several factors,including the Company's dolomite reserves may not be mined because of technical, regulatory, financing, or otherobstacles, the market price for magnesium may make our resources uneconomic and we may not be able to hire andretain skilled employees. The Company undertakes no obligation to update forward-looking information except asrequiredby law.Thereaderiscautionednottoplaceunduereliance onforward-lookingstatements.Theseforward-lookingstatementsaremadeasofthedateofthisnewsrelease.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSXVentureExchange)acceptsresponsibilityfortheadequacyoraccuracyofthisrelease.

Thisnewsreleasedoesnotconstituteanoffertosellorasolicitationofanoffertobuyanyofthesecuritiesdescribedin this news release. Such securities have not been, and will not be, registered under the United States Securities Actof1933,asamended(the"U.S.SecuritiesAct"),oranystatesecuritieslaws,and, accordingly, maynotbeofferedorsold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", assuch term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S.SecuritiesActandapplicablestatesecuritieslawsorpursuant toanexemptionfromsuchregistrationrequirements.

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6e91a8a2-3f5f-4387-97de-adda8c06e62a

Magnesium Metal Ingot Commercialized Pilot Plant

Magnesium Concentration of 99.62%

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