MGX Minerals and PurLucid Provide Lithium Extraction System Deployment Update; Second Site Agreement Near Completion

MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) is pleased to report that the Company’s majority owned engineering partner PurLucid Treatment Solutions Inc. (“PurLucid”) is nearing completion of its second commercial-scale contract for deployment of MGX-PurLucid water treatment and lithium extraction systems at petrolithium sites in Alberta. Final assembly, site preparation and deployment are underway for the initial site and installation at both sites is expected to be largely complete by June 2018. Under the agreement MGX remains in control of all lithium and other minerals extracted using the lithium extraction systems.

Industrial Lithium
Since January, MGX and PurLucid have been working to further prove the viability of lithium recovery from industrial wastewater sites in the United States while also improving the quality of effluent discharged to a river. Recent testing from an industrial site concentrated lithium to commercial grade as lithium chloride, excluding all magnesium and calcium (0.05% and 0.1% in product, respectively). Sodium and potassium, which comprised 76% of the cations in the feed water, were reduced by 90% in the final product. Additional optimization is ongoing in preparation for commercial deployment to this site.

H2S Advancement
Purlucid has also processed several bulk samples from sour gas fields and developed an effective, chemical free method for removing H2S and TVOC prior to water treatment and lithium recovery. H2S and TVOC concentrations were reduced from 60 ppm and 80 ppm, respectively, to 2 ppm and 40 ppm in a closed processing system. This system augments the ability to recover lithium from petroleum brines with dangerous levels of H2S and TVOCs, further extending access to brine resources.

The Partnership
Since announcing an acquisition and engineering partnership agreement in September 2016, MGX and PurLucid have invented new technology and filed patent applications related to brine treatment and selective lithium recovery. PurLucid’s exclusively licensed nanoflotation technology, which purifies wastewater brine, has since been integrated with a newly developed lithium recovery process. Combined, this Cleantech process reduces the capital cost of recovery compared to traditional solar evaporation as it does not require the investment in very large, multi-phase, lake sized, lined evaporation ponds, greatly reducing the physical footprint and enhancing the quality of extraction and recovery across a complex range of brines previously considered un-processable due to complexity or geographical location outside of solar evaporation appropriate zones. This includes oil and gas wastewater, natural brine, and other brine sources such as lithium-rich mine and industrial plant wastewater. MGX holds the global rights to the jointly developed lithium extraction technology.

About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America. Learn more at www.mgxminerals.com.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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.

Contact Information

Jared Lazerson

President and CEO Inquiries:

Web: www.mgxminerals.com

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Source: globenewswire.com