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PROJECTS

01

Fran Gold Project

Active – Permitting

Permit

MX-13-291

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Timeline

3-year permit

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Location

N of Fort St. James, BC

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Named after the wife of the original prospector who first staked the claims, Fran Gold carries the weight of more than two decades of careful, systematic work. Over that period, $20 million has been invested, with 104 drill holes totalling 18,000 metres, resulting in a thoroughly characterized gold deposit. The results reflect that investment. Recent field programs confirmed some of the highest-grade gold results in the project’s history. Test shipments validated high-recovery processing of gold from ore, establishing that the deposit performs from the ground to the refinery. The 2026 program includes 10 additional infill drill holes to connect the Main Zone and East Zone, and shallow trenching of recent surface discoveries, with ongoing reclamation as a built-in component of the program. The Fran property sits on a rocky, dry hilltop largely accessible via existing roads and trails, significantly reducing surface impact. This is not speculative ground; it is a well-understood deposit entering the final phase of exploration.

02

Driftwood Creek Magnesium

Preliminary Economic Assessment Complete   

Status - Mining Lease

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Location

N of Cranbrook, BC

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Driftwood Creek Magnesium sits 164 km north of Cranbrook, BC, and is one of the largest known magnesite deposits in North America—a significant, long-duration asset with strong infrastructure access and economics that have been formally validated. A 2018 Preliminary Economic Assessment outlined a 19-year mine life with compelling returns across multiple production scenarios. With current market conditions now supporting the magnesium metal production case, Driftwood Creek represents a meaningful long-term opportunity in magnesium oxide, one of the most widely used industrial minerals. Project Highlights - 19-year mine life with a C$529.8M pre-tax NPV (5%) and 24.5% IRR - 3.5-year pre-tax payback; post-tax NPV of C$316.7M at 19.3% IRR - Average annual MgO production of 169,700 tonnes - Initial capital cost of C$235.9M; cash costs of C$350/tonne MgO - Mineralization traced over 2,000 metres — open along strike and at depth - Excellent infrastructure: road, rail, labour, and grid power

Land Acknowledgement

MGX Minerals acknowledges that it operates on the lands of many unceded, traditional territories of First Nations across British Columbia. 

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