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MGX Minerals Reports 98 Meters Grading 44% Magnesium Oxide from Phase II Drilling at Driftwood Creek

VANCOUVER, BRITISH COLUMBIA / October 5, 2015 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) is pleased to provide initial results from the first four drill holes of Phase II drilling at its flagship Driftwood Creek magnesium project (“Driftwood Creek”) (see press release dated August 31, 2015). The 12 hole drill program is near completion and full assay results are expected shortly.

Mineralization at Driftwood Creek occurs along a two kilometer strike length spanning two zones (Eastern and Western). The Phase II drill program is targeting extensions of magnesite mineralization along strike in the Western Zone, which to date has been delineated across 0.5 kilometers. Management views results thus far as encouraging with most assays reporting magnesite-bearing mineralization throughout entire hole lengths. All four holes have ended in magnesite mineralization.

Select intervals are reported below:

DDH From (m) To (m) Interval (m) MgO% CaO% Fe2O3% SiO2% LOI%
2015-1 6.0 63.0 57.0 43.07 1.30 1.49 4.47 48.50
2015-1 81.0 121.92 40.92 43.87 0.50 1.46 6.76 45.35
2015-2 2.74 45.0 42.26 42.60 0.67 1.43 7.56 46.32
2015-2 54.0 91.44 37.44 41.55 0.31 1.43 11.46 42.49
2015-3 0.61 65.53 64.92 40.71 0.92 1.48 13.13 40.97
2015-4 30.0 128.02 98.02 44.28 0.97 1.51 3.4 48.55


* Note: Intervals represent drilled thickness, not true widths. Drill core is being split at three meter intervals. Results represent 406.9 meters of drilling and 137 split core samples.

Drill results from Phase I and II drilling will be added to previous drill core analysis and compiled to establish a maiden National Instrument (N.I.) 43-101 compliant mineral resource estimate for the Eastern and Western zones. Independent technical consultant and National Instrument (N.I.) 43-101 Qualified Person Norman Tribe (P. Eng.) has been on site and is preparing to conduct the resource estimate for Driftwood Creek.

Quality Assurance/Quality Control
The sample chain of custody is managed by MGX under the supervision of Mr. Andris Kikauka. Drill core is being split at three meter intervals, secured in a nearby storage facility and shipped to ALS Minerals (“ALS”). ALS is an independent, ISO-certified analytical laboratory located in North Vancouver, British Columbia. ALS is conducting whole-rock analysis using a lithium borate fusion process to calculate oxide equivalent values.

Qualified Person
This press release was prepared under the supervision and review of Andris Kikauka, P. Geo. and Vice President of Exploration for MGX Minerals. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument (N.I.) 43-101 Standards.