NEW YORK, NY - TheNewswire - August 19, 2021 - Western Magnesium Corporation (TSXV:WMG) (Frankfurt:3WM) (OTC:MLYF) (“Western Magnesium” or the “Company”) is pleased to announce, that after a lengthy search and due diligence, we have an agreement with Harrison County, Ohio which will be the site of the first full scale deployment of our proprietary magnesium extraction technology in the United States.

Management spent a considerable amount to time vetting other states as well, however, Harrison County proved to be the ideal space for our first plant in the US.  The 122-acre property is not only adjacent to the future home of a modern mixed fuels power plant which can provide power to our clean magnesium production, it is close to a dolomite supply and an infrastructure of rail and highway that will carry our magnesium finished product to industries across the United States.

Executive President & CEO, Sam Ataya says, “It’s been a lengthy process for management to find the best opportunity for our first commercial plant.  This process was made easier by the hard work and support from JobsOhio and the local authorities and the people from Harrison County who have graciously opened their County to our Company.”

“Western Magnesium Corporation’s decision to locate their first U.S. operation in Harrison County, Ohio proves once again that Eastern Ohio, Harrison County specifically can compete on a worldwide scale to attract business. Furthermore, not just in the oil and gas sector of the economy but the manufacturing side as well. We remain positive for this opportunity and looking forward to working with Western Magnesium towards successful completion of this innovative project that is over a billion dollar investment with potential of over 200 high paying jobs.” said Nicholas Homrighausen, Harrison County CIC Executive Director of Community & Economic Development.

Western Magnesium intends to start with the build out of a 100,000 metric tonne plant, the equivalency of 10% of the world’s current supply.  Each plant will employ up to 200 full time 500 auxiliary positions.  This will accelerate economic development for Harrison County and the State of Ohio.  With the 122 acres we have the ability to scale production due to the close proximity of the power plant and the extensive feed supply of dolomite available to us.

Mr. Ataya wishes to thank Governor DeWine, Lt. Governor Husted and the team at JobsOhio for their continued efforts and support in helping our Company establish our first commercial plant.  

“The Harrison County Board of Commissioner's is excited about this economic development project and look forward to working closely with the developers to make this opportunity a reality.   We believe this shows what we have known for some time, Harrison County is a great place with many opportunities.” Joint Statement Harrison County Commissioners.

“Ohio is on the cutting edge of developing and utilizing high performing advance materials and Western Magnesium’s decision to locate in Harrison County is yet another example of why Ohio remains a worldwide leader in cutting edge manufacturing.  Safe and efficient production of magnesium will no doubt benefit many of Ohio’s industries seeking lighter and more durable metals for aerospace, automotive, and many other applications. We’re honored that Western Magnesium chose to make this important strategic investment in Ohio.”  said Dana Saucier, JobsOhio Vice President and Head of Economic Development  

“Today Western Magnesium chose a site in Harrison County to be the eventual home to their state-of-the-art plant to produce 99.8% pure magnesium metal with a low-cost and eco-friendly process.” said Ohio Southeast Economic Development President Mike Jacoby.  “We thank Western Magnesium Corporation for their decision and we congratulate Harrison County on their economic efforts.”

Western Magnesium plans on breaking ground on our new plant in the next eighteen months.  There will be an official ceremony and unveiling of the site and we will provide an update closer to 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 extraction technology 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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