WASHINGTON, DC – TheNewswire – October 15, 2021 – Western Magnesium Corporation (TSXV:WMG) (Frankfurt-3WM) (OTC:MLYF) ("Western Magnesium" or the “Company”) provides an update on its filing of the Form 10 Registration Statement with the U.S. Securities and Exchange Commission (the “SEC”). Due to the multinational nature of the Company, the SEC required 2021 Q3 Interim Financial Statements and Managements Discussion & Analysis to be included with the submission. Western Magnesium provided the required information and refiled the Form 10 with the SEC to register its common stock under Section 12 of the Securities Exchange Act of 1934 (the "Exchange Act"). Once the Form 10 is effective, Western Magnesium will be subject to the reporting requirements of the Exchange Act and will be required to file annual, quarterly, and annual proxy statements with the SEC.

Executive President & CEO Sam Ataya states, “Management is excited to finalize on the filing of the Form 10 which will provide the required transparency for institutional investors, and also the opportunity for them to participate in future financings, necessary for the strategic build out of our commercialized plants across the United States.”  

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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and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

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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