MGX Minerals, Inc., a diversified Canadian mining company, announced today that the Mining Lease application for its Driftwood Creek magnesium project has been approved and granted by the Chief Gold Commissioner of the Province of British Columbia.

“This is a major milestone for the project,” said Jared Lazerson, President and CEO of MGX Minerals. “We would like to take this opportunity to express our appreciation for the support of everyone involved, at all levels of government, community and First Nations. I believe there is now reason for new optimism among the working men and women of the East Kootenay region.”

The Driftwood Creek project is located on 776 hectares (including three mineral tenures) in the Brisco-Driftwood mining district of southeastern British Columbia. It is in the Purcell Mountains northwest of Brisco off the Driftwood Forest Service Road.

The operation will extract magnesium oxide.

MGX Minerals (CSE: XMG) is a diversified Canadian mining company listed on the Canadian Securities Exchange. MGX is engaged in the acquisition and development of industrial mineral deposits in Western Canada that offer near-term production potential, minimal barriers to entry and low initial capital expenditures.

MGX Minerals recent operational highlights include entering into a Definitive Agreement with Tembec ($TSX: TM) to acquire the Cranbrook mill site in Cranbrook for $3.7 million, which it would use in concert with the Driftwood Creek Magnesium Project.

The company also received the necessary permits from the Archaeology Branch of the British Columbia Ministry of Forests, Lands and Natural Resource Operations to conduct an Archaeological Impact Assessment on their flagship Driftwood Creek magnesium project.

For more information about MGX Minerals, visit www.mgxminerals.com.

e-KNOW

Article Share