Nevada Clean Magnesium closes $50,000 first tranche

Jul 30, 2015

NEVADA CLEAN MAGNESIUM CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Nevada Clean Magnesium Inc. has closed the first tranche of its non-brokered private placement previously announced on July 14, 2015, for gross proceeds of $50,000, comprising one million units of the company.

The OfferingThe maximum Offering is 3,000,000 Units for gross proceeds of up to $150,000. The Offering is not subject to any minimum aggregate subscription. Each Unit will consist of one common share in the capital of Nevada Clean Magnesium (the “Common Shares”) and one Common Share purchase warrant (the “Warrants”). Each Warrant will be exercisable into one Common Share for a period of three years at a price of $0.05/share during the first two years of the exercise period and $0.10/share during the third year of the exercise period. The proceeds of the Offering will be used for US Property payments, general working capital, and accounts payables, including legal and transfer agent fees. Although the Company intends to use the proceeds of the Offering as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. If the Offering is not fully subscribed, the Company will apply the proceeds of the Offering to the above uses in priority and in such proportions as management of the Company determines is in the best interests of the Company.The securities issued in connection with the Offering will be subject to a hold period expiring four months and one day from the date of issuance of such securities.The placement is subject to final approval from the TSX Venture Exchange.

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 September 2011 and amended in July 2014, 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.

This news release was reviewed by James Sever, P. Eng. a qualified person recognized under NI 43-101.

http://www.nevadacmi.com/news/releases