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Western Magnesium Enters into Letter of Intent With US National Preferred Dolomite Supplier

Western Magnesium Corporation

WASHINGTON, D.C. - TheNewswire - September 21, 2021 - Western Magnesium Corporation (TSXV:WMG) (Frankfurt:3WM) (OTC:MLYF) (“Western Magnesium”, “WMC” or the “Company”) announces it has signed a “Letter of Intent (“LOI”) with The Shelly Company (“Shelly Co.”) to supply high-quality dolomite to WMC at any location in the contiguous United States of America to produce magnesium metal.

Shelly Co. is part of CRH, which is the number one aggregates producer in North America making them an excellent partner for Western Magnesium by securing our ideal feed source for the future. Shelly Co. has provided a 20-tonne dolomite sample to us to feed the commercial pilot plant. This will provide all the necessary data to move forward to an eventual definitive agreement.

The LOI outlines the principal terms for a potential definitive agreement which will be developed between the two companies.

Edward Lee, Executive Chairman stated, “We are confident that with a long-term supply of high-quality dolomite we will achieve Western Magnesium’s near and long-term magnesium metal production goals. Our continued progress toward establishing a reliable, sustainable, and clean supply of magnesium metal will support industry and the environment.”

Sam Ataya, Executive President and CEO stated, “Western Magnesium identifies as an industrial technology company.  Although we have the ability to mine our own supply of dolomite from the Tami Mosi site, it is advantageous to secure a supply chain across the United States that a great company such as Shelly Co. can provide to us while we maintain our focus on our technology buildout.”

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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and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

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