Edward Lee Moves to Executive Chairman Position and Appoints New CEO

Published 2018-10-11 09:00:00-06

Tickers: PINX:MLYFF, XTSX:NVM
Tags: Mining



VANCOUVER, BRITISH COLUMBIA / TheNewswire / October 11, 2018 - Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTCQB:MLYFF) (The "Company") today announced the addition of Mr. Sam Ataya to the Board of Directors and to the position of Chief Executive Officer for the Company. Edward Lee is now the Executive Chairman of the Board.

Mr. Ataya has 25 years of proven record with key strengths in demonstrating "big picture" approaches toward project management that require long term strategic planning and operational management. His ability to manage multi-faceted projects through team leadership has lead him through operational turnarounds, management changes and the ability to mobilize resources to achieve the wanted results from strategic planning and analysis. Mr. Ataya is currently CEO of The Stirling Group of Vancouver, B.C., a "One Stop" consulting service focused on assisting Micro-Cap, Mid-Cap, and Large-Cap Companies in need of financial recapitalization. The Stirling Group aids companies in strengthening their business models, investment proposals and helps source capital directly from an established global funding network.

Mr. Ataya states "We are in the process of transitioning the Company from development mode by fully integrating strategic directives to ensure corporate development goals are met, while we demonstrate to the market our ingenuity in mobilizing resources to achieve progress."

Edward Lee, Executive Chairman states "I have always indicated when the time is right, an effective CEO will be brought on to the board to realize the Company's assets and have the financial background and corporate restructure plan required to deliver the many aspects of building the business. Mr. Ataya brings that unique perspective with a vibrant approach to the methodology regarding the Company's assets, while understanding that the Company is not mining but is working to become a processing company with advanced technology. He also recognizes the impressive potential gains for the shareholders should successful delivery of magnesium metal to manufacturers within the United States of America be achieved. I along with the Board of directors have full confidence in Mr. Ataya and that he has a clear vision of the company's furture with an executional plan of how to get there."

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements in this news release include that we will transition from development to processing and that we can become a a major U.S. producer and distributor of primary, high grade, low cost magnesium metal. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company's dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic, we may not be able hire and retain skilled employees, and other risks associated with being a mineral development and processing company. We may not be able to raise funds to carry out our plans. The Company undertakes no obligation to update forward-looking information except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this news release.

To Reach Nevada Clean Magnesium Please Contact:

John Ulmer, Investor Relations at (604) 210-9862

For additional information please visit our website at http://www.nevadacmi.com or view our profile at http://www.sedar.com.

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