Market Overview

MGX Minerals Commences Permitting Activities; Land Survey Completed

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VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / November 7, 2014 / MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG) is pleased to announce that management of MGX and technical consultants from Moose Mountain Technical Services Ltd. ("MMTS") have completed initial site work at the Driftwood Creek magnesite property ("Driftwood Creek" or the "Property").

Initial environmental, archeological and engineering requirements have been identified and a site report is expected shortly. This will include initial requirements necessary to pursue permitting at Driftwood Creek. Assessments are specifically being completed on a proposed new haul road that would result in cost savings and less overall road construction compared with the existing access road. As well, initial determination of the operating quarry area has now occurred.

Work by MMTS is being conducted under the supervision of Mr. Roger Berdusco, who has over 35 years of industry experience, primarily with Teck Resources Ltd., specializing in permitting, regulatory and community affairs.

"This is our first definitive step towards permitting at Driftwood," said MGX President and CEO Jared Lazerson who is currently on site. "We have now identified the physical working area of the proposed quarry and haulage road. This now gives us specific areas for archeological and environmental study. The late snow this year has given us a unique opportunity to continue to advance site work into November and we are taking full advantage."

MGX plans to submit a Mine and Reclamation Permit application along with necessary permits for water, air, and waste disposal under the British Columbia Mines Act and Environmental Management Act during the first quarter of 2015.

Additionally, the Company is pleased to report that the previously announced land survey (see press release dated October 6, 2014) has been completed by Focus Corporation as part of ongoing preparations to complete a maiden N.I. 43-101 resource estimate on Driftwood Creek. To view the completed topographic survey of the Property, click here to download.

About Magnesite

Magnesite in its purest form is 47.6% Magnesium Oxide ("MgO"). Magnesite generally serves as an excellent feedstock for the production of MgO. MgO in turn is a valuable and widely used industrial mineral. Uses of MgO include abrasives, animal feed supplements, chemicals, coatings, construction, electrical, fertilizers, foundries, glass manufacture, insulation, lubricating oils, pharmaceuticals, plastics manufacture, refractory and ceramics, rubber compounding, steel industry, sugar refining, sulfite wood pulping, and wastewater treatment. At this time MGX is focused on the refractory and steel industries.

About MGX Minerals

MGX Minerals (CSE: XMG) is a diversified Canadian mining company engaged in the acquisition and development of industrial mineral deposits in western Canada that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. For more information please visit the Company's website at www.mgxminerals.com.

For further information on MGX, please contact:
Jared Lazerson
Chief Executive Officer
MGX Minerals Inc.
Telephone: 604.681.7735
Email: jared@mgxminerals.com

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", "postulate" 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.


SOURCE:
MGX Minerals Inc. 

 

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