WESTERN MAGNESIUM PROVIDES OPERATIONAL UPDATE

Aug 23, 2021

WESTERN MAGNESIUM PROVIDES OPERATIONAL UPDATE

NEW YORK, NY – TheNewswire – August 23, 2021 – Western Magnesium Corporation (TSXV: WMG; Frankfurt-3WM; OTCQB: MLYF) (“Western Magnesium” or the “Company”) is pleased to announce that testing on the new continuous pilot reactor has started ahead of schedule. This is a methodical process that ensures a safe and successful operation of the reactor and its auxiliary equipment. Heating and vacuum tests are underway and full operations will commence after all safety testing is complete. Materials of construction is a key part of this testing and will provide invaluable data to the future full scale commercial Western Magnesium plant.

Edward Lee, Executive Chairman states, “My expectations of being ahead of schedule have been met and I am pleased with the results to date. I have asked Management to take extra time to re-test each assembled piece of equipment and their respective automated features to ensure the utmost performance as material runs for producing magnesium metal will commence once all the dry operational runs have been fully tested and completed.”

Sam Ataya, Executive President & CEO states, “Being ahead of schedule will help us produce the data and analytics regarding magnesium production which is important for our planned Ohio site and breaking ground in eighteen months. These analytics are also critical as we continue discussions with different end users in the automotive, aerospace, eco-friendly companies and the U.S. Department of Defense.”

Western Magnesium will continue testing operations over the next 30 days and we will have another update at that time.

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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and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 | [email protected] | 604-423-2709

Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company’s Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as “may,” “should,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan” and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

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.

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.

For additional information please visit our website at www.westernmagnesium.com
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