Nevada Clean Magnesium Welcomes Don Stirling to Technical Advisory Committee
Company Also Provides Update on Completion of ScanMag AS Joint Venture
VANCOUVER, BRITISH COLUMBIA - (AccessWire) - January 13, 2014 - Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (the "Company") today announced the appointment of Don Stirling, a highly experienced electrical and instrumentation expert, to the Company's Technical Advisory Committee.
As the founder and President of Epscan Industries, Ltd., Stirling brings Nevada Clean nearly four decades of proven experience providing major project construction and logistical services to the oil and gas, co-generation, mining, pulp, wood and paper industries in Canada. More specifically, under Stirling's leadership and utilizing the latest innovative technology in project management, welding fabrication, installation, instruction, commissioning, maintenance and programming, Epscan has provided comprehensive support and services relating to electrical installation, distribution and process instrumentation to its clients since 1978.
Edward Lee, Chairman and CEO of Nevada Clean, stated, "We are extremely pleased to have someone of Don's caliber in a position to assist us with the development, design and planning of our Tami-Mosi Magnesium project. He is a welcome addition to our team and will undoubtedly play a key role in our Company's future success."
In other news, Nevada Clean reported that completion of the joint venture with ScanMag AS continues to progress on schedule. The definitive Joint Venture Agreement was provided to officials at ScanMag AS shortly before the holidays. Subject to completion of the document being translated into Norwegian by official translators, the Board of Directors and legal representatives of ScanMag AS will meet to review and return any comments and/or desired changes to Nevada Clean for its review and responses. Notwithstanding any unexpected delays or issues, the joint venture, providing for both companies to collaborate on and mutually benefit from the development of their respective dolomite deposits to produce magnesium metal for the North American and European industrial markets, is expected to be finalized on time, subject to the closing conditions specified in a news announcement released by the Company on October 15, 2013.
About ScanMag AS
ScanMag AS is an industrial minerals company headquartered in Glomfjord, a village in the municipality of Mel?y just north of the Arctic Circle on Norway's west coast. The Company was jointly formed by Normin Mine AS and Mel?y Naeringsutvikling AS in 2012 to develop a large deposit of high quality dolomite, situated in the Granasen field outside Mosj?en, near Glomfjord and is comprised of both dolomite and brucite. Mel?y Naeringsutvikling AS is jointly owned by the municipality of Mel?y in Nordland County; Yara Norway ASA, a subsidiary of one of the world's leading chemical company; Sparebank 1 Nord-Norge, a banking group that has served North Norway since 1836; and DNB Bank, Norway's largest financial services group. These Companies have teamed to capitalize on northern Norway's wealth of environmental resources to create new jobs, expand industrial infrastructure and promote global trade. For more information, please visit www.mnu.no.
About Nevada Clean Magnesium, Inc.
Nevada Clean Magnesium is focused on becoming a major U.S. producer and distributor of primary, high grade, low cost magnesium extracted from its 100% owned Tami-Mosi property located in North Central Nevada. Based on the Company's NI 43-101 Preliminary Economic Assessment Report published in late 2011, the Tami-Mosi Project has an inferred resource of 412 million tonnes with an average grade of 12.3% Mg for a contained metal content of 111 billion pounds of magnesium using a 12% cut-off grade contained within a high purity dolomite block. For more information, please visit www.nevadacmi.com.
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.
Forward Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements in this news release include statements about the entering into a joint venture, the closing of a private placement, that we can create significant value for our shareholders, and that Nevada Clean Magnesium can become a major magnesium producer and supplier.
Actual results may differ materially from those currently anticipated due to a number of factors, including those beyond the Company's control. These risks and uncertainties include, among other things, that we may not be able to agree on final terms with ScanMag, that we may not be able to obtain regulatory approval, that we may not be able to raise funds required, that conditions to closing may not be fulfilled, that the Company's dolomite reserves may not mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic, and other risks associated with being a mineral exploration and development company. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.