Major Production Cost Reduction Attribute Successfully Tested
VANCOUVER, BRITISH COLUMBIA / TheNewswire / February 10, 2016 - Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (The "Company" or "NCM") announces that Phase 1 & 2 of the materials testing program being conducted in Norway was very successful. An effective, low cost heat transfer medium was found, that will enable efficient recovery of previously lost high grade heat from the magnesium production residue without interacting with the unreacted furnace charge.
James Sever, P.Eng. President and Chief Operating Officer of the NCM reports Phase 1 & 2 of the materials testing program being conducted at the Molab research facility in Norway has successfully identified this attribute through the use of the Thermo-gravimetric analyzer ("TGA") . Various heat transfer mediums were assessed and the interaction of each heat transfer material with the reductant and feed material was observed. Through this work a material has been found that can convey the heat from the waste residue to the fresh furnace charge without interaction with the components of the charge. This should enable a reduction in cycle time and a reduction in energy needed to produce the magnesium. In other words, the productivity of each furnace will be increased while reducing the cost of production. James Sever states "We are very encouraged by the results to date and with the realization of this is keeping us on the path to becoming a very green and efficient modernized process."
To view photos follow link: http://nevadacmi.com/investors/materials-testing
About Nevada Clean Magnesium, Inc.
Nevada Clean Magnesium is focused on becoming a major U.S. producer and distributor of primary, high grade, low cost magnesium metal extracted from its 100% owned Tami-Mosi property located in North Central Nevada. Based on the Company's NI 43-101 Preliminary Economic Assessment Report published in September 2011 and amended in July 2014, the Tami-Mosi Project has an inferred resource of 412 million tonnes with an average grade of 12.3% Mg for a contained metal content of 111 billion pounds of magnesium using a 12% cut-off grade contained within a high purity dolomite block. For more information, please visit www.nevadacmi.com.
This news release and scientific technical data was reviewed by James Sever, P. Eng. a qualified person recognized under NI 43-101.
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.
Forward-Looking Statement
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words, or statements that certain events or conditions "should", "may" or "will" occur. We may not receive additional subscriptions and we may determine that other needs must be paid rather than those we currently consider priorities. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. 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 other risks associated with being a mineral exploration and development company. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change 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 and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
To Reach Nevada Clean Magnesium Please Contact:
Edward Lee, CEO at (604) 210-9862
For additional information please visit our website at http://www.nevadacmi.com or view our profile at http://www.sedar.com.
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