VANCOUVER, BRITISH COLUMBIA / October 2, 2015 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) reports that the necessary permits have been received from the Archaeology Branch of the British Columbia Ministry of Forests, Lands and Natural Resource Operations to conduct an Archaeological Impact Assessment (AIA) on the Company’s flagship Driftwood Creek magnesium project (“Driftwood Creek”).
As announced by MGX in late July (see press release dated July 28, 2015), the Company engaged Tipi Mountain Eco-Cultural Services Ltd. (“Tipi”) to complete an Archaeological Overview Assessment (AOA) on Driftwood Creek. Based on results of the AOA, The British Columbia Ministry of Forests, Lands and Natural Resource Operations has granted Tipi with Heritage Conservation Act Permit 2015-0269, which allows Tipi to move forward with additional field assessments to complete a detailed AIA report. The finished AIA report will be submitted to the Archaeology Branch of the British Columbia Ministry of Forests, Land and Natural Resource Operations for review and approval.
The Company reports that in accordance with its consulting agreement with Palisade Capital, MGX has granted Palisade 300,000 stock options exercisable at a price of CA$0.60 for a period of two years.