VANCOUVER, BRITISH COLUMBIA – December 22, 2014 – MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG) is pleased to announce the Company has filed a mining lease application with the Mineral Titles Branch of the British Columbia Ministry of Energy and Mines (“MEM”) for its Driftwood Creek magnesium deposit.
The mining lease application is a formal request for the conversion of Mineral Tenures 511333 and 511335, comprising 265 contiguous hectares, into a mining lease. The Company was advised during discussions with MEM in November 2014 to place a priority on filing the mining lease with the Mineral Titles Branch, as review of the application may require the longest lead time of all components in the permitting process. While there is no fixed timeline for the process, review is expected to take a minimum of 8 months but will occur simultaneously on a parallel path with mine plan review and related permitting.
"MGX continues to take tangible steps towards rapidly moving from exploration to development at Driftwood Magnesium," stated CEO Jared Lazerson. "The development of a magnesite quarry for the purpose of producing magnesium oxide would open up significant business and employment opportunities in the sale and production of both basic magnesium oxide refractory materials as well as more advanced and value added products. MGX believes that the development of Driftwood Magnesium represents a corner stone in the building of a new advanced materials industry in the Province of British Columbia."