MGX Minerals Increases Lithium Land Position to 540 Sq. Miles in Alberta

March 14, 2016

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(CSE:) announced the Company has made an application for 5 Metallic and Industrial Minerals Permits to the Coal and Mineral Development Unit of the Alberta Ministry of Energy covering 45,000 hectares.

The claims are contiguous or geologically associated with existing MGX lithium claims of 96,000 hectares, which are known to contain some of the highest levels of lithium bearing brine in the Province of Alberta, up to 140mg/L. as reported in the Provincial Industrial Minerals database.

MGX previously entered into a purchase agreement for a 100% undivided interest in 12 Metallic and Industrial Mineral Permits encompassing 96,000 hectares throughout the Province of Alberta (). These Permits were acquired based on compilation of historic exploration for lithium by the Province as well as oil and gas well data and known geology. MGX’s current lithium brine bearing land position by way of permits and permit applications now stands at over 540 sq. miles (141,000 hectares). The permits and permit applications are all geologically associated with current and past producing oil fields.

MGX Minerals CEO, Jared Lazerson, stated:

As natural gas once posed problems for oil well production, but was eventually harnessed to produce new energy opportunities, lithium brine is the next phase in this energy evolution. None better than the Alberta oil and gas industry to lead this energy evolution in this move to energy diversification for western Canada. MGX now holds significant concessions of advanced energy and materials commodities including lithium, magnesium, and high purity silica (used in solar panels). We hold a portfolio of the most important commodities for the next 100 years.

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Category: General