MagIndustries Corp.
TSX : MAA

MagIndustries Corp.

March 16, 2015 13:22 ET

MagIndustries Files Amended Technical Report

TORONTO, ONTARIO--(Marketwired - March 16, 2015) - MagIndustries Corp. (TSX:MAA) (the "Company" or "MagIndustries") announced today that it has filed an amended version of its technical report on the Company's Mengo Permit Area in the Republic of Congo (the "Technical Report"). The update clarifies a few items of disclosure within the previously filed technical report namely (i) removing Ralf Linsenbarth as a Qualified Person on the Technical Report and replacing him with EurGeol Dr. Henry Rauche who has taken responsibility for chapters 17 and 18, (ii) confirming that mineral reserves are included in the mineral resource estimate in the Technical Report, (iii) updating chapter 13 to include information on net recovery of KCl product; (iv) updating section 13.3 to provide a summary of the results of the testing described in section 13.3 and (v) adding a reference to Appendix E (the project's discounted cash flow model) in section 22.2. The Company notes that these revisions do not result in any substantive changes to the report and the revisions have been made to address certain disclosure issues identified by the Ontario Securities Commission in respect of their review of the Company's continuous disclosure materials.

The Technical Report has been filed on www.sedar.com under the Company's profile. Other than the information referred to above the Technical Report remains unchanged from that which was announced in the Company's July 2, 2014 press release. This press release provides only a summary of the information set forth in the Technical Report and readers should review the full Technical Report for additional information.

The authors of the Technical Report, EurGeol Dr. Henry Rauche and EurGeol Dr. Sebastiaan van der Klauw are the Qualified Persons with respect to the Technical Report and have reviewed and approved the contents of this press release.

About MagIndustries Corp.

MagIndustries is a Canadian company whose common shares are listed on the TSX and trade in Canadian currency under the symbol "MAA". The Company has 755,942,674 common shares outstanding. MagIndustries is focused on the development of its potash assets in the ROC. More information on the Company is available on its website, www.magindustries.com.

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