Western Magnesium Announces Call Notice for Warrants Set to Expire Between October 3, 2020 and August 14, 2022

- With this announcement the $0.05 warrants that are set to expire at 5:00 p.m. PST on March 7, 2022, May 9, 2022 and August 14, 2022 have been called and will now expire on January 19,2020;

- With this announcement the $0.08 warrants are set to expire at 5:00 p.m. PST on October 3, 2020, November 29, 2020, January 22, 2021, March 28, 2021, and May 13, 2021 have been called and will now expire January 19, 2020

- If all of the remaining outstanding 60,716,531 Warrants are exercised, gross proceeds to the Company will total $4,642,112.

Pursuant to the warrant certificates with expiry dates of March 7, 2022, May 9, 2022 and August 14, 2022 have been called and will now expire on January 19,2020; the Company has the right, on thirty (30) days' written notice (the "Call Notice"), to require a Holder to exercise the Warrants (the "Right of Call"), so long as the closing trading price of the Company's common shares on the Company's principal trading market exceeds $0.0625 per share for at least ten (10) consecutive trading days at any time prior to the date of the Call Notice. The Warrants will terminate on the date that is thirty (30) days from the date of the Call Notice in the event that the Holder has not exercised the Warrants in accordance with the terms of the Call Notice by such date.

Pursuant to the warrant certificates with expiry dates of October 3, 2020, November 29, 2020, January 22, 2021, March 28, 2021, and May 13, 2021, the Company has the right, on thirty (30) days' written notice (the "Call Notice"), to require a Holder to exercise the Warrants (the "Right of Call"), so long as the closing trading price of the Company's common shares on the Company's principal trading market exceeds $0.10 per share for at least ten (10) consecutive trading days at any time prior to the date of the Call Notice. The Warrants will terminate on the date that is thirty (30) days from the date of the Call Notice in the event that the Holder has not exercised the Warrants in accordance with the terms of the Call Notice by such date.

By way of this news release, the Company has provided Notice to the Warrant holders, that the Warrant Holders are required to exercise the Warrants within thirty (30) calendar days (the "Right of Call") or the Warrants will be cancelled on the date that is thirty (30) days after the date of the news release. For greater certainty one non-receipt by the warrant holder of such notice will not invalidate the accelerated expiry time of the Warrants as aforesaid.

The Company confirms that as of the close of markets on December 19, 2019, an Acceleration Trigger had occurred. In accordance with the terms of the Warrant Certificates, this news release constitutes notice to Warrant holders of the Acceleration Trigger. Accordingly, the Company confirms that the Warrants are now set to expire at 5:00 p.m. PST on January 19, 2020 being thirty (30) calendar days following the occurrence of the Acceleration Trigger Any Warrants remaining unexercised after the will be cancelled.

About Western Magnesium

Western Magnesium's goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.

Forward-Looking Statements

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 the Company's vision of how Western Magnesium can become the world's foremost producer of low-cost, green magnesium metal; the intended use of proceeds raised; the intention to, and benefits of, using a continuous silicothermic process to produce magnesium; the terms, pricing and number of Units issued, and the acceptance of the TSX Venture Exchange of each tranche of Units. 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, we may not be able hire and retain skilled employees, we may not receive the acceptance of the TSX Venture Exchange for one or more tranches of Units, we may not be able to close a tranche of Units because of market conditions and other risks associated with being a mineral exploration and development company. The Company undertakes no obligation to update forward-looking information 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.

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.

For additional information please visit our website at

http://www.westmagcorp.com or view our profile on SEDAR

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