VANCOUVER, BRITISH COLUMBIA – October 30, 2014 - MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG) wishes to announce that it has approved a non-brokered private placement offering of up to 1,000,000 common shares at a price of $0.25 per share. All securities issued under the private placement will be subject to a four-month hold period.
Driftwood Creek Magnesite Update
A close spaced eight hole diamond drill program and land survey were recently completed at the East Zone of Driftwood Creek for the purpose of delineating an initial mining block and NI 43-101 Resource Estimate, which is currently underway. The Company plans to dovetail the Resource Estimate into a result dependent Mine Plan for the purpose of applying for a Mining and Reclamation Permit for an Industrial Mineral (Magnesite) under the British Columbia Mines Act.