VANCOUVER, BRITISH COLUMBIA / October 9, 2018 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FSE: 1MG) is pleased to announce it has signed the Definitive Option Agreement, after completing the due diligence in relation to the Memorandum of Understanding dated August 8th 2018, to acquire 50% of the issued shares of Chilean Lithium Salars SpA (“CLS”). CLS is a wholly owned subsidiary of Chilean Lithium Salars Pty Ltd. (“CLSH”) and holds a 100% interest in three prospective lithium exploration Projects (the “Projects”) located in Chile, including Francisco Basin, Laguna Brava and Laguna Escondida Lithium Projects.
Two samples from the Laguna Brava Project were received at PurLucid Treatment Solutions Inc. (“PurLucid”) facilities in Calgary, Alberta to undergo pilot testing to prepare a Rapid Lithium Extraction unit deployment. Drilling contractors will be on site this week to prepare the drilling program at Francisco Basin Project, which will be overseen by SRK Consulting to deliver a 43-101 complaint Resource Estimation as soon as the exploration program is completed.
Following the positive response from the Chilean state agency National Geology and Mining Service (“SERNAGEOMIN”) and the Environmental Assessment Service (“SEA"), the Company plans to ship a rapid lithium brine system shortly. The Special Lithium Operation Contract “CEOL”, is a requirement to carry any lithium related commercial activity in Mining Concessions granted after 1983.