Western Magnesium Announces Commercial Pilot Plant Construction Nearing Completion
WASHINGTON, March 29, 2022 - Western Magnesium Corp. (TSXV:WMG) (Frankfurt:3WM) (OTC:MLYF) ("Western Magnesium" or the "Company") Western Magnesium Corp. (WMC) is pleased to announce the majority of equipment has been delivered and multiple trades are on site installing and testing the equipment as the Company's commercial pilot plant is nearing completion. There are currently two final pieces of equipment to be delivered which are on schedule and will be accepted shortly. This is a major step as the Company works to produce 99.8% pure magnesium metal in the United States through a highly advanced technological process that continuously removes harmful byproducts before they are released into the environment. To streamline the construction process, WMC is commissioning each piece of equipment as it is installed which requires significant coordination to ensure that all necessary equipment operates as anticipated and that all safety interlocks function properly. Additionally, WMC has successfully passed acceptance testing for purchased equipment to date, demonstrating that the Company's engineering design and procurement process have been followed with appropriate and diligent action. Furthering the successful engineering, reactor heating testing is now underway.
Executive Chairman Ed Lee, states, "I am pleased that we are in the final stage of the commercialized pilot plant build out, this undertaking has required a methodical approach to ensure a safe and successful operation of our proprietary technology."
Below are recent pictures taken during construction of the plant.
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Figure 1 - Pilot Plant Cooling Unit being Lifted into Place
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Figure 2 - Pilot Plant Motor Control Center and Distributed Control System during the Early Construction Phase. The DCS has passed initial testing and installation work is continuing.
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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium in the United States, which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
Safe Harbor Statement
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 Securities and Exchange Commission 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.
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.
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