Nevada Clean Magnesium Settles Litigation Claim
VANCOUVER, June 29, 2017 - Nevada Clean Magnesium Inc.. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (The "Company") today announced that it has settled the civil claim commenced by a former officer of the Company for unpaid fees. The claim was announced in a Company news release dated October 26, 2016. The Company has now obtained a full and final release from the claimant. 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.
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. Forward-looking statements in this news release include NVM becoming a major U.S. producer and distributor of primary, high grade, low cost magnesium metal, and that our Project has an inferred resource of 412 million tonnes.ties. Actual results may differ materially from those currently anticipated due to a number of factors, including that results may not be as we expect, including that 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. 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.
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. You may also follow us on Facebook, Twitter or LinkedIn.
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