VANCOUVER, Aug. 18, 2016 /CNW/ - MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG / FKT: 1MG) is pleased to report the Company has entered into an Definitive Agreement (the "Agreement") to acquire a 100% interest in the Sturgeon Lake Lithium Brine Project ("Sturgeon Lake") located in west-central Alberta.
"Previous exploration for lithium at the Sturgeon Lake oilfield indicates the potential for a high volume lithium bearing aquifer. We look forward to the testing of lithium brine from the field with our proprietary rapid lithium extraction process to confirm the lithium-enriched brine and determine the economic feasibility of the project," stated MGX Minerals CEO Jared Lazerson.
To read the full press release please visit www.mgxminerals.com.
About MGX Minerals
MGX Minerals (CSE: XMG) is a diversified Canadian mining company engaged in the development of large-scale industrial mineral portfolios in western Canada that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. The Company operates lithium, magnesium and silicon projects throughout British Columbia and Alberta. For further information, please visit the Company's website 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.
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.
SOURCE MGX Minerals Inc.
Image with caption: "MGX Minerals Inc. (CNW Group/MGX Minerals Inc.)". Image available at: http://photos.newswire.ca/images/download/20160818_C2858_PHOTO_EN_755299.jpg
For further information: Jared Lazerson, Chief Executive Officer, Telephone: 604.681.7735, Email: email@example.com