VANCOUVER, BRITISH COLUMBIA - (Accesswire) - June 14, 2013 - Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) ("NevadaCMI" or the "Company"), a junior mining company actively engaged in developing its 100%-owned Tami-Mosi Magnesium Project in North Central Nevada, today announced the termination of the Option Agreement, dated March 7, 2012, between the Company and MillenMin Ventures, Inc. ("MillenMin") pursuant to which NevadaCMI granted MillenMin the option to acquire up to a 70% undivided interest in the Windpass gold property.
Having fulfilled all the obligations and commitments set forth in the Option Agreement, MillenMin elected to abandon its work on the property and return the property to NevadaCMI. The Option Agreement will terminate on July 25, 2013 by mutual agreement between NevadaCMI and MillenMin.
About Nevada Clean Magnesium, Inc.
Nevada Clean Magnesium is focused on becoming a major U.S. producer and distributor of primary, high grade, low cost magnesium extracted from its 100% owned Tami-Mosi property located in North Central Nevada. Based on the Company's NI 43-101 Preliminary Economic Assessment Report published in late 2011, the Tami-Mosi Project has an inferred estimated 111 billion pounds of primary magnesium contained within a high purity dolomite block within the Project site covering over 1600 acres. For more information, please visit www.nevadacmi.com.
Kathy Addison, Chief Operating Officer
Forward Looking Statements
Neither 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. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Nevada Clean Magnesium, Inc., including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission. We seek safe harbor.