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MGX Minerals Drills 53.8 Meters of 43.1% Magnesium Oxide at Driftwood Creek

VANCOUVER, BRITISH COLUMBIA – December 11, 2014 – MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG) is pleased to report assay results from the recently completed diamond drill program at its flagship Driftwood Creek magnesium deposit (the “Property”) located in southeastern British Columbia.

Eight drill holes were completed over the Eastern Zone of the deposit and all ended in magnesite mineralization, which was observed to a depth of 57 meters, and suggests the zone remains open at depth. Seven of the eight drill holes were spaced within 30 meters of each other and will provide a high degree of certainty for the upcoming National Instrument (N.I.) 43-101 compliant resource estimate.

“The results look very encouraging,” stated Vice President of Exploration and non-independent Qualified Person Andris Kikauka. “The relatively high (>5%) silicon dioxide content can be removed by flotation process (SGS Lakefield, 2008) and other compounds of interest (magnesium oxide, calcium oxide and iron oxide) approach the specifications required for producing calcined or dead-burned magnesite that are suitable materials for export markets.”

Summary of select drill intercepts are listed below:

DDH

From (m)

To (m)

Width (m)*

MgO%

CaO%

SiO2%

Fe2O3%

LOI%

14-1

1 m

27 m

26 m

42.55

0.75

5.86

0.75

47.93

14-2

2 m

51 m

49 m

43.04

1.06

5.18

0.74

48.55

14-2A

.35 m

36 m

35.65 m

41.83

1.5

6.83

0.93

46.91

14-3

2.8 m

9 m

6.2 m

41.04

1.16

8.33

0.98

46.05

14-3

21 m

63 m

42 m

41.52

1.33

6.49

0.88

47.44

14-4

0.8 m

9 m

8.2 m

43.2

1.24

4.12

0.86

48.64

14-4

21 m

66 m

45 m

41.92

2.08

4.71

0.77

48.54

14-5

24 m

71.63 m

47.63 m

41.43

1.64

6.87

0.78

47.5

14-6

3 m

18 m

15 m

42.62

1.92

5.54

0.86

47.48

14-6

30 m

36.58 m

6.58 m

41.92

0.69

9.01

0.97

45.53

14-7

.2 m

54 m

53.8 m

43.1

1.17

4.93

0.93

47.13

* Width refers to drill hole intercepts, true widths have not been determined. Complete drill results available on MGX website and SEDAR.

Two historic resource estimates* (non N.I. 43-101 compliant) were completed on the Property by past operators. Kaiser Resources Ltd. (Morris, 1978) estimated a non N.I. 43-101 compliant Inferred resource of 22.5 million tonnes of magnesite using a specific gravity of 2.5 and Canadian Occidental Ltd. (Rodgers, 1989) estimated a non N.I. 43-101 compliant Inferred resource of 29.4 million tonnes of magnesite at a specific gravity of 3.0.

*These are historical resource estimates that do not comply with the current CIM Definition Standards on Mineral Resources and Mineral Reserves as required by NI 43-101. A Qualified Person has not done sufficient work to upgrade or classify these historical resources estimates to current mineral resources prepared in accordance with NI 43-101. The issuer is not treating the historical estimate as current mineral resources and the historical estimate should not be relied on.

The Company also completed rock chip sampling on the eastern zone of the Property. Samples were collected and submitted to ALS Minerals in North Vancouver, British Columbia for chemical analysis using XRF whole rock analysis for oxides. Geochemical analysis results were as follows:

Sample

ID # From

ID # To

# of Samples

Total Length

MgO%

CaO%

SiO2%

Fe2O3%

LOI%

Rock

501

506

6

18 m

42.63

0.94

6.26

0.72

48.09

Click to view 1:2,500 scale plan view of drill holes and rock chip samples.

Qualified Persons
Andris Kikauka, Vice President of Exploration for MGX Minerals, and a non-independent Qualified Person as defined by N.I. 43-101, has reviewed the information contained in this news release and has verified the data.

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