Tickers: PINX:MLYFF, XTSX:NVM
VANCOUVER, BRITISH COLUMBIA / TheNewswire / February 15, 2017 - Nevada Clean Magnesium, Inc. (TSXV:NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (the "Company" or "NCM") is pleased to announce that the TSX Venture Exchange has accepted for filing the Binding Memorandum of Understanding dated February 1, 2017 between Nevada Clean Magnesium Inc. (the "Company" or "NCM") and Big Blue Technologies LLC ("BBT") of Broomfield, Colorado, USA whereby the Company and BBT have agreed to enter into a technical joint venture.
Both parties will work together to further develop the NCM Process, the BBT Process and the Alpha Condenser in order to produce magnesium metal from the Tami - Mosi Magnesium property owned by NCM, as set forth in a definitive agreement to be completed on or before August 1, 2017.
For full details please refer to the Company's news release previously announced February 6, 2017.
About Big Blue Technologies LLC
BBT is a closely-held limited liability company formed under the laws of Colorado, U.S.A. It is engaged in developing high temperature chemical processing solutions to aid in the manufacture of magnesium and other light-weight high performance materials. Together with the University of Colorado, BBT has developed, and the University of Colorado has applied for two patents related to the production of magnesium, primarily using the chemistry known as carbothermic reduction. BBT has the right to receive a license to use of these patents, and derivative patents, on an exclusive basis as it continues to develop this technology.
For more information, please visit www.bigbluetec.com
About Nevada Clean Magnesium, Inc.
Nevada Clean Magnesium is focused on becoming a major U.S. producer and distributor of primary, high grade, low cost magnesium metal extracted from its 100% owned Tami-Mosi property located in North Central Nevada. Based on the Company's NI 43-101 Preliminary Economic Assessment Report published in September 2011 and amended in July 2014, the Tami-Mosi Project has an inferred resource of 412 million tonnes with an average grade of 12.3% Mg for a contained metal content of 111 billion pounds of magnesium using a 12% cut-off grade contained within a high purity dolomite block.
For more information, please visit www.nevadacmi.com.
This press release was prepared under the supervision and review of James Sever, P. Eng., president and COO for Nevada Clean Magnesium. Mr. Sever is a non-independent qualified person within the meaning of National Instrument 43-101 standards.
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
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words, or statements that certain events or conditions "try" "would" "could" "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. More detailed information about potential factors that could affect projected results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
To Reach Nevada Clean Magnesium
Please Contact: Edward Lee, at 604-210-9862
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