MGX Minerals Signs Development Agreement for Driftwood Creek Magnesium project
VANCOUVER, BRITISH COLUMBIA / TheNewswire / January 22, 2016 / MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG / FKT: 1MG) is pleased to announce the Company has entered into a Comprehensive Development Agreement (the "Agreement") with Dominion Excavating Ltd. ("Dominion").
Dominion is a First Nations-owned company based in Invermere, British Columbia that employs local residents. As part of the Agreement Dominion will provide a range of project development services for the Company's flagship Driftwood Creek magnesium project ("Driftwood") including road construction and mine development in exchange for an equity stake in MGX.
"We remain committed to partnering with local business and bringing new economic opportunities for the East Kootenay region," stated MGX President and CEO Jared Lazerson.
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 further information, please visit the Company's website at www.mgxminerals.com.
| Contact Information |
| Jared Lazerson |
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.
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