PRESS RELEASES

VANCOUVER, BRITISH COLUMBIA / May 5, 2016 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) is pleased to announce that it intends to complete a non-brokered private placement (the “Private Placement”) for up to 5,000,000 Units (“Units”) at a price of CAD$0. 10 per Unit for gross proceeds of CAD$500,000. Each Unit will be comprised of one common share and one common share purchase warrant. Each warrant is exercisable into one common share at a price of CAD$0

MGX Minerals Closes Oversubscribed Private Placement for Alberta Lithium Project

VANCOUVER, BRITISH COLUMBIA / May 5, 2016 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) is pleased to announce it has closed the previously announced non-brokered private placement (the “Private Placement”) (see press release dated April 18, 2016). Due to over-subscribed demand the Company has raised gross proceeds of CA$615,000 through the issuance of 6,150,000 Units (the “Units”).

Each Unit is comprised of one common share of the Company and one full purchase warrant. Each warrant is exercisable into one common share of the Company at a price of CA$0.15 for a period two years from today’s date.

Proceeds from the Private Placement will be used for lithium exploration and development, private placement expenses, maintenance of the Company’s assets, payments of liabilities and general working capital purposes.

Newly issued securities shall be subject to a four month and one day hold period from today’s closing date, in accordance with applicable securities laws. There were no finder fees paid in connection with the private placement.

About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America.

Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.

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