PRESS RELEASES

VANCOUVER, BRITISH COLUMBIA / May 6, 2016 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) is pleased to announce the Company has negotiated terms for a series of debt conversion agreements with creditors in order to settle CA$268,000 in outstanding debt through the issuance of 2,680,000 common shares at a deemed price of CA$0. 10 per unit. As part of the settlement the Company has written down CA$108,000 in account payable. MGX also announces it has granted an ag

MGX Minerals Announces Debt Settlement and Option Grant

VANCOUVER, BRITISH COLUMBIA / May 6, 2016 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) is pleased to announce the Company has negotiated terms for a series of debt conversion agreements with creditors in order to settle CA$268,000 in outstanding debt through the issuance of 2,680,000 common shares at a deemed price of CA$0.10 per unit. As part of the settlement the Company has written down CA$108,000 in account payable.

MGX also announces it has granted an aggregate of 1,000,000 incentive stock options under the Company’s stock option plan to certain officers, directors and consultants of the Company, which are each exercisable at CA$0.40 per common share and expire on May 4, 2018.

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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