Western Magnesium Corporation (TSXV: WMG; Frankfurt-M1V; OTCQB: MLYF) ('Western Magnesium' or the 'Company') announces an amendment to the close of the first tranche of the non-brokered private placement.

The first tranche financing was closed on 5,599,171 Units at a price of CAD 0.13 per Unit for gross proceeds of CAD 727,892.28. The new amended totals have increased by 225,385 Units at the same price of CAD 0.13 per Unit for additional gross proceeds of CAD 29,300.07.

Western Magnesium has applied for a 30-day extension from the TSX Venture Exchange for its current non-brokered private placement. The Company confirms that there is no material undisclosed information. The financing is subject to final approval from the TSX Venture Exchange.

The Offering

The maximum Offering is for gross proceeds of up to CAD 7,000,000. Each Unit will consist of one common share in the capital of Western Magnesium Corporation (the 'Common Shares') and one Common Share Purchase Warrant (the 'Warrants'). Each Warrant will be exercisable into one Common Share for a period of one year at a price of CAD 0.19/share.

The completion of the private placement and payment of any commission and fees remains subject to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The securities issued will be subject to a statutory hold period in Canada for a period of four months and one day from the Closing Date. The securities have not been registered with the SEC and are also subject to a statutory one-year hold period in compliance with Regulation S of the Securities Act of 1933 as amended. The Regulation S hold period supersedes the TSX Venture Exchange hold period. Proceeds of the private placement will be used for working capital and to complete our commercialized pilot plant.

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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and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

Contact:

Tel: 604-423-2709

Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are 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 because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able hire and retain skilled employees. The Company undertakes no obligation to update forwardlooking information except as required by law. The reader is cautioned not to place undue reliance on forwardlooking statements. These forward-looking statements are made as of the date of this news release.

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.

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