2022-08-12 | TSXV:WMG | Press release

WASHINGTON, Aug. 12, 2022 (GLOBE NEWSWIRE) — Western Magnesium Corporation (WMC) (TSXV: WMG.V; Frankfurt-3WM; OTCQB: MLYF) (“Western Magnesium” or the “Company”) announces the resignation of Peter O’ Rourke Sr. of the Company’s Board of Directors and as President of U.S. Operations, effective August 5e2022.

The Board wishes to thank Mr. O’Rourke Sr. for his contributions and wishes him much success in his future endeavours.

Western Magnesium is in the process of interviewing candidates for a seat on the company’s board of directors. In accordance with the regulations and framework provided by the Nasdaq, the composition of the Board of Directors will change to reflect the diversity requirements implemented in August 2021.

About Western Magnesium

Western Magnesium’s goal is to be a low-cost producer of green primary magnesium, a strategic product valued for its strength and lightness. Unlike outdated and expensive production processes, Western Magnesium seeks to use a continuous silicothermal process to produce magnesium, which significantly reduces labor and energy costs compared to current methods and processes, while being eco-friendly.

Media Relations and Corporate Communications

Ashleigh Barry | [email protected] | (202) 258-4453

Investor Relations

John Ulmer | [email protected] | (604) 423-2709

Forward-looking statements

Statements contained in this press release that are not historical facts are forward-looking statements subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company’s dolomite reserves may not be mined due to technical, regulatory, financing or other impediments, the market price of magnesium may render our resources unprofitable and we may not be able to hire and retain qualified employees. The Company undertakes no obligation to update forward-looking information, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described in this press release. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act””), or any state securities law , and, therefore, may not be offered or sold within the United States, or for the account or benefit of persons in the United States or “US Persons”, as that term is defined in Regulation S promulgated under United States securities law, unless registered under United States securities law and applicable state securities laws or pursuant to an exemption from such registration requirements.

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Luisa D. Fuller