NEW YORK, NY – TheNewswire – June 2, 2021 – Western Magnesium Corporation (TSXV:WMG); (Frankfurt-3WM); (OTC:MLYF) (“Western Magnesium” or the “Company”) Western Magnesium Corporation, is excited to announce, in conjunction with developments at the commercialized pilot plant, the development, buildout, and completion of our magnesium reactor.
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This is a significant, and much anticipated milestone for the Company, and has accelerated our internal timeline for the production of magnesium metal. As we have previously focused on metal production by the end of 2021, Western Magnesium is happy to report that management has revised its timeline for metal production for the purposes of testing, certification, and distribution to the next 90 days. As part of Western Magnesium’s commitment to research and development, management is pleased with efforts to date, especially with the changing timelines and challenges faced during the COVID-19 pandemic.
This furnace will be the first of its kind, and a major step towards being able to operate a silicothermic reactor system from open atmosphere to a sealed vacuum space on a continuous basis. This is very disruptive technology with controllable parameters from an efficiency, energy, and environmental standpoint. A continuous internally heated reduction furnace of this nature coupled with the proprietary Western Magnesium condenser will allow for maximum continuous production from pit or stockpile, to magnesium metal, to the end-user in timely manner. A process that assembly line manufacturers have longed for.
A third lighter than aluminum, 60% lighter than titanium and 75% lighter than steel, magnesium’s strength and castability has made it an obvious replacement for any component that needs to be lighter and stronger. As the lightest of all structural metals, magnesium metal has been used strategically in key components in automotive, defense and aeronautics since World War II.
Executive Chairman, Mr. Ed Lee, states “This reactor unit is a significant step forward that will enable the Company to enter the marketplace with its proprietary continuous condenser, and will secure Western Magnesium’s future for decades to come.” Initial metal production will allow management to work closely with end users in the automotive, aerospace, and ecofriendly technology companies and the Department of Defense to assess the amount of metal needed for their assembly line manufacturing, and the form in which they will need the metal.
Executive President & CEO, Mr. Sam Ataya states, “This exciting change in production timeline, will coincide with the opening of our Washington, DC head office, which will better facilitate discussions with end user clients in various industries, to start the process of our metal certification, which will culminate in purchase order agreements.”
Neither the 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.
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
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. 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 and we may not be able hire and retain skilled employees. 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.
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.westernmagnesium.com
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