Update as Progress Continues at Harrison County Plant Site
Washington, D.C. – TheNewswire – October 27, 2021 – Western Magnesium Corporation (WMC) (TSXV: WMG; Frankfurt-3WM; OTCQB:MLYF) (“Western Magnesium” or the “Company”) is one step closer to rebuilding the United States Industrial base by offering its innovative, eco-friendly, and high-quality clean magnesium metal production solution starting in Harrison County, Ohio. The 122-acre property’s proximity to the future home of a modern mixed fuels power plant, a dolomite supplier, and an infrastructure of rail and highway will carry WMC’s finished magnesium product to industries across the U.S.
Evaluation work at the Cadiz, OH plant property is now underway as local drone and geotechnical firms (Whitemyer Advertising Inc. and Diversified Engineering, Inc.) have conducted light detection and ranging (LIDAR) drone surveys, as well as a topographical fly-over on the magnesium metal production property. This survey will enable Geographic Information System models to be created for environmental planning, geotechnical drilling, and early civil works planning for the property evaluation, facility design, and location.
The raw data and model sets have been completed and supplied to WMC by the contractors. This data is now ready to be reviewed by one of the chosen Engineering, Procurement, and Construction Management Groups that are currently undergoing review for the project. The near-term use of this data is to create the cut-fill analysis prior to early earth works beginning, to allow for proper planning and permitting of this process. A geotechnical drilling program to analyze and understand the stability and composition of the property will commence shortly thereafter.
Sam Ataya, Executive President and CEO said “We are excited to have started work on the site building toward the first full scale deployment of our proprietary magnesium extraction technology in the United States. Each step that we take continues to lay the foundation for building a state-of-the art magnesium production plant, which will provide hundreds of safe and well-paying jobs in the Harrison County area. Once the geotechnical work is complete, we will start the exciting process of working with local companies in Ohio to bid for the earth works.”
About Western Magnesium
Western Magnesium’s goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.
Company Contact: John Ulmer | [email protected] | 604-423-2709
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company’s dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able hire and retain skilled employees. The Company undertakes no obligation to update forward‐looking information except as required by law. The reader is cautioned not to place undue reliance on forward‐looking statements. These forward-looking statements are made as of the date of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.