Nevada Clean Magnesium Inc.: Bench Scale Pilot Furnace Update
VANCOUVER, BRITISH COLUMBIA / TheNewswire / February 24, 2016 - Nevada Clean Magnesium Inc.. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (The "Company") wishes to provide an update on the progress of constructing the bench scale pilot furnace being done in Fort St John, BC. by Lindon Enterprises Ltd.
The furnace shell is assembled and the thermo insulation blanket installed. The construction group is waiting for the arrival of the power contacts which are being manufactired in California. The premix refractory castable is on order and refractory liners will be cast shortly after installation of the power contacts.
The condenser that receives the magnesium vapour is complete and auxiliary items such as the vacuum and cooling systems; the electrical power supply; and instrumentation will be added to the completed assembly. The testing program for producing magnesium from the Tami Mosi and ScanMag dolomites will commence once the decision of where the location to test has been determined. The program will have mandatory operating safety requirements and local permits in place prior to the furnace testing program commences.
(Current photos of the furnace can be viewed at http://nevadacmi.com/investors/furnace-2016)
James Sever, P.Eng. and President of the Company states, "This piece of equipment will enable us to obtain the data necessary to engineer a full scale furnace. In addition the unit will provide the platform to test proposed improvements to the process."
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 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 "may" or "will" occur. We may not receive additional subscriptions and we may determine that other needs must be paid rather than those we currrently 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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