Western Magnesium Announces Effectiveness of Form 10 Registration Statement

Sam Ataya, Executive President & CEO said, "After lengthy delays due to the COVID-19 pandemic, we are finally in a position to be on a major United States exchange like Nasdaq or the NYSE. Additionally, this milestone will reduce the hold period from 12 months to 6 months for our shareholders. What's also exciting, is that being Form 10 reporting opens the door for all financial institutions to participate in our financial growth."

The Form 10 provides investors with detailed information about the Company's operations, including an overview of its current and planned business operations, risk factors, and financial statements. This additional information should allow for investors to make an educated investment decision regarding the Company. The Form 10 is available at www.sec.gov and www.sedar.com under the name of Western Magnesium Corp..

The Company is now subject to the Exchange Act proxy rules and its management and certain shareholders are subject to its beneficial reporting requirements of Sections 13 and 16.

For more news and updates, shareholders and prospective investors are encouraged to follow Western Magnesium Corp.'s website at https://westmagcorp.com.

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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and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

Media Relations & Corporate Communications: Ashleigh Barry | abarry@westmagcorp.com | (202) 258-4453

Investor Relations: John Ulmer | julmer@westmagcorp.com | (604) 423-2709

Forward-Looking Statements

This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's SEC filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

For additional information please visit our website at www.westmagcorp.com

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