Western Magnesium Enters into Letter of Intent With US National Preferred Dolomite Supplier

Shelly Co. is part of CRH, which is the number one aggregates producer in North America making them an excellent partner for Western Magnesium by securing our ideal feed source for the future. Shelly Co. has provided a 20-tonne dolomite sample to us to feed the commercial pilot plant. This will provide all the necessary data to move forward to an eventual definitive agreement.

The LOI outlines the principal terms for a potential definitive agreement which will be developed between the two companies.

Edward Lee, Executive Chairman stated, "We are confident that with a long-term supply of high-quality dolomite we will achieve Western Magnesium's near and long-term magnesium metal production goals. Our continued progress toward establishing a reliable, sustainable, and clean supply of magnesium metal will support industry and the environment."

Sam Ataya, Executive President and CEO stated, "Western Magnesium identifies as an industrial technology company. Although we have the ability to mine our own supply of dolomite from the Tami Mosi site, it is advantageous to secure a supply chain across the United States that a great company such as Shelly Co. can provide to us while we maintain our focus on our technology buildout."

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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and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.

Company Contact: John Ulmer | julmer@westmagcorp.com | 604-423-2709

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