Tickers: PINX:MLYFF, XTSX:NVM
VANCOUVER, BRITISH COLUMBIA / TheNewsWire / April 4, 2017 - Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (the "Company") is pleased to announce the completion of the bench scale test furnace. This work was performed by Lindon Acres Enterprises of Fort St John, British Columbia.
Originally scheduled for early 2016 with the process testing to follow, it was decided to delay the larger scale test until the materials assessment program was completed by the University of Colorado at Boulder. Included with this work was the confirmation of an alternate reductant.
Grinding and calcination systems are being installed in order to prepare the materials necessary to produce magnesium metal crowns with the furnace. These crowns will be remelted into magnesium buttons for quality and certification purposes.
James Sever, P. Eng., COO states "This testing program will provide necessary engineering data for fabrication and operation of the planned full size pilot furnace. One key area of assessment is the ability to recover energy from the spent furnace residue. Due to the unique design of the furnace, alternate heating and condensing concepts can be tested with the hope of producing a continuous silicothermic process."
The final issuance of 1,000,000 common shares of the company as payment for services, will be made on or before April 15, 2017. The payment terms can be viewed from the previous announcement dated October 6, 2015.
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 "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, CEO at (604) 210-9862
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