LeadFX announces EPA recommends approval of the Paroo Station Lead Mine Hydrometallurgical Facility and mine extension proposal

(All dollar amounts are in Canadian dollars unless otherwise indicated)

PERTH, AUSTRALIA, Aug. 1, 2018 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (Toronto Stock Exchange "TSX": LFX) announces that the Western Australian Environmental Protection Authority ("EPA") has recommended the approval of the Hydrometallurgical Facility and mine extension of the Paroo Station Lead Mine, 30km west of Wiluna in Western Australia.

The proposal involves the construction of a new hydrometallurgical facility and associated infrastructure adjacent to the existing flotation concentrator that would produce approximately 70,000 tpa of lead ingot and increasing the mine disturbance area by 400 ha to accommodate a 15 year mine life for the operation. Lead ingot would be trucked from site to port as an item of general freight.

The EPA has issued EPA Report 1620 which contains the EPA's recommendations and a draft ministerial statement to the Western Australian government's Minister for Environment. The draft ministerial statement contains few conditions beyond that which exist in previous Ministerial Statements 905 and 1042 that have regulated the operation. EPA Report 1620 is available on the EPA's website.

The EPA's report to the Minister for Environment is now open for a two week public appeal period.

Forward looking statements

This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws. Examples of forward-looking information in this news release includes but is not limited to statements and information concerning the expected use of proceeds. Forward-looking statements are often, but not always, identified by the use of words such as ''seek'', ''anticipate'', ''contemplate'', ''target'', ''believe'', ''plan'', ''estimate'', ''expect'', and ''intend'' and statements that an event or result ''may'', ''will'', ''can'', ''should'', ''could'' or ''might'' occur or be achieved and other similar expressions. Forward-looking information by its nature requires assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information, and readers are cautioned not to place undue reliance on such information. These statements are based on expectations, estimates and projections as at the date of this news release and are subject to a number of risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievement may vary materially from those expressed or implied by the forward-looking information contained in this news release. These risk factors should be carefully considered and readers are cautioned not to place undue reliance on forward-looking information, which is current only as of the date of this news release. All subsequent forward-looking information attributable to LeadFX herein is expressly qualified in its entirety by the cautionary statements contained in or referred to herein. LeadFX does not undertake any obligation to release publicly any revisions to this forward-looking information to reflect events or circumstances that occur after the date of this news release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

SOURCE LeadFX Inc.