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Zinc Market Expected to Grow on Zinc-Ion Battery Technology Benefits
[August 10, 2018]

Zinc Market Expected to Grow on Zinc-Ion Battery Technology Benefits

NEW YORK, August 10, 2018 /PRNewswire/ --

According to a market study released by Technavio, the global zinc market is projected to grow to 19.68 Million metric tons by 2021 while at a CAGR of close to 4% over the forecast period. Zinc, similarly to other minerals like lithium and cobalt, is being applied in new innovative rechargeable batteries. Recent technology that uses zinc, known as zinc-air batteries, are metal-air batteries that are light weight, which supports their usage in various applications including in electric vehicles. The Transparency Market Research specifies that most of the properties of zinc-air batteries are comparable with those of lithium-ion batteries, however, zinc batteries provide an advantage of not requiring any volatile material for their production. As a result, unlike lithium-ion batteries, zinc technology is not inclined to catching fire when used in high-temperature working environments. MGX Minerals Inc. (OTC: MGXMF), Hecla Mining Company (NYSE: HL), Hudbay Minerals Inc. (NYSE: HBM), Silvercorp Metals Inc. (NYSE: SVM), First Majestic Silver Corp. (NYSE: AG)

A report by the Royal Society of Chemistry describes in detail the current issues the industry is in. "To date, Li-ion batteries have been the most successful energy storage solution and widely used in portable electronics and electric vehicles (EVs) since their first report in 1991. Unfortunately, their limitations of high cost, insufficient energy density, and blemished safety have held back the large-scale applications of Li-ion batteries in the automobile industry… Because of these currently unconquerable limitations, rechargeable zinc-air batteries have attracted significant attention as an alternative in the past few years," according to the report.

MGX Minerals Inc. (OTCQB: MGXMF) is also listed on the Canadian Securities Exchange under the ticker (CSE: XMG). Yesterday, the Company announced that, "its wholly-owned subsidiary ZincNyx Energy Solutions Inc. ("ZincNyx") has received the first shipment of components for its 20Kw output / 120Kwh storage zinc-air fuel cell battery. The core regenerator and fuel cell module components were manufactured using high volume injection molding. The design for manufacturing of these components was completed at the end of June and transition to tooling and production has proceeded smoothly.

Since both regeneration and fuel cell modules are constructed from a number of identical cells, they constitute ideal candidates for manufacture by volume production methods such as injection molding, die casting and extrusion. These methods require stringent design rules to be followed to ensure efficient and reliable parts production. ZincNyx has now completed the design and tooling process for the highest volume parts with the active participation of its chosen suppliers.

The regenerator and fuel cell parts form the nucleus of ZincNyx's commercial mass storage system which will provide four times the capacity of earlier models. The expanded range of this system addresses the need for long duration energy storage when coupled with renewable energy sources such as wind and solar. The system may be housed in a shipping container for deployment at remote locations or may be installed in free-standing racks in a warehouse or utility closet-type environment.

Update on Spin-Off of ZincNyx: The Company is also pleased to provide an update on the proposed spin out of its wholly owned subsidiary ZincNyx into a publicly traded company (the "Transaction") and the dividend payment in kind of ZincNyx shares to MGX shareholders of record (the "Proposed Distribution"). The financial audit of ZincNyx has been completed and filing of the preliminary prospectus is expected shortly. The proposed Transaction is being structured of which 66.6% of outstanding shares will be owned by MGX and 33.3% will be paid as a dividend to MGX shareholders of record at June 29th, 2018.

Further to the Prior Release (see press release dated April 3rd, 2018), MGX intends for ZincNyx to become a standalone company following the spin-out by way of a dividend in kind of ZincNyx shares by MGX. The Proposed Distribution is expected to be made by way of ZincNyx filing a prospectus (the "Prospectus") with securities regulatory authorities in the jurisdictions where MGX is a reporting issuer (the "Securities Regulators") in order to qualify the Proposed Distribution of ZincNyx Shares to MGX Shareholders such that the ZincNyx shares to be delivered under the Proposed Distribution are not expected to be subject to any statutory hold periods. The Proposed Distribution will not occur unless or until a receipt for the final Prospectus is obtained from the Securities Regulators.

The Company has not yet made any application to list the ZincNyx Shares for trading on an exchange, no market currently exists for the ZincNyx Shares, and the Prior Release is qualified in its entirety by this news release.

The Prospectus will constitute a public offering of the ZincNyx Shares only in those jurisdictions where they may be lawfully offered for sale and therein only by persons permitted to sell such securities. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The ZincNyx Shares 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 may not be offered or sold in the United States, unless pursuant to an exemption from such laws.

For more information on ZincNyx, please refer to the Prior Release and the Company's other news releases, dated December 13, 2017, December 18, 2017, January 9, 2018, January 30, 2018, February 1, 2018, February 7, 2018 and March 12, 2018, available on the Company's profile on SEDAR at and at"

Hecla Mining Company (NYSE: HL) is a leading low-cost U.S. silver producer with operating mines in Alaska, Idaho and Mexico, and is a growing gold producer with operating mines in Quebec and Nevada. Hecla recently provided an update on its exploration programs during the second quarter. Exploration Highlights - Casa Berardi: Drilling is expanding potential size of the East Mine Crown Pillar (EMCP) pit and the proposed 160, Principal and West Mine Crown Pillar (WMCP) open pits. San Sebastian: Continues to refine and expand high-grade, polymetallic zones on the Middle and Francine veins. Additional oxide mineralization being defined along the Professor and East Francine veins. Greens Creek: Exploration drilling continues to expand the Deep 200 South, Gallagher, East Ore, Upper Plate and Southwest Bench zone mineralized trends. Nevada: Integration of the Klondex exploration group is underway and drill programs are ramping up. On the Francine Vein, infill holes within the polymetallic zone intercepted intervals of semi-massive sulfide that are generally consistent with the previous exploration drilling results. Recent assays include 0.11 oz/ton gold, 13.2 oz/ton silver, 2.2% copper, 2.9% lead, and 4.6% zinc over 5.6 feet, and 0.01 g/ton gold, 10.2 oz/ton silver, 2.1% copper, 2.6% lead, and 2.7% zinc over 10.0 feet. "The exploration success we have seen across the portfolio in recent quarters continues," said Phillips S. Baker, Jr., President and Chief Executive Officer.

Hudbay Minerals Inc. (NYSE: HBM) is an integrated mining company primarily producing copper concentrate (containing copper, gold and silver), zinc concentrate and zinc metal. Hudbay recently announced its second quarter 2018 financial results. Net profit and earnings per share in the second quarter of 2018 were USD 25 Million and USD 0.09, respectively, compared to a net profit and earnings per share of USD 19 million and USD 0.08, respectively, in the second quarter of 2017. In the second quarter of 2018, operating cash flow before change in non-cash working capital increased to USD 131.6 Million from USD 124.1 Million in the same quarter of 2017. The increase in operating cash flow is the result of higher realized prices for copper, zinc and precious metals, partially offset by decreases in the sales volumes of copper, zinc and silver and higher mine operating costs. During the second quarter of 2018, the Manitoba operations produced 33,170 tons of zinc, 10,807 tons of copper and 32,363 ounces of gold-equivalent precious metals. Production of copper was comparable to the same period in 2017, while production of gold and silver was 19% and 34% higher, respectively. Zinc production was 5% lower compared to the same period in 2017 as a result of lower zinc grades at Lalor, in line with the mine plan.

Silvercorp Metals Inc. (NYSE: SVM) is a low-cost silver-producing Canadian mining company with multiple mines in China. Recently, the Company announced the results of an updated National Instrument ("NI") 43-101 Technical Report with an effective date of June 30th, 2018, prepared by AMC Mining Consultants (Canada) Ltd. on the Gaocheng silver-zinc-lead property in Guangdong Province, People's Republic of China (the "Gaocheng NI 43-101 Technical Report"). Mineral Reserves of 3.56 Million tons in the Proven and Probable categories grading 96 grams per ton (g/t) silver (Ag), 1.4% lead (Pb), and 3.1% zinc (Zn), containing 11 Million ounces silver, 112 Million pounds lead, and 240 Million pounds zinc. From the start of operations at Gaocheng in 2014 through to December 31, 2017, 987,000 tons have been mined at average head grades of 98 g/t silver, 1.5% lead and 2.7% zinc. Silvercorp completed its first phase of diamond drilling on the Gaocheng property in 2008. Systematic drilling commenced on the property in 2011 and continued through to 2017. All Silvercorp drilling was completed as NQ-sized core. Drillhole collars were surveyed using a total station and down hole surveys were completed every 50 m downhole. Core recoveries varied between 41.7% and 100% averaging 96.9%.

First Majestic Silver Corp. (NYSE: AG) is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. The Company had released the total production in the second quarter of 2018 from its seven operating silver mines reached a new Company record of 5.1 Million equivalent ounces of silver. Total production consisted of 2.8 Million ounces of silver, 25,449 ounces of gold, 3.9 Million pounds of lead and 1.4 Million pounds of zinc. The Company has increased its 2018 annual silver production to a new range of 12.0 to 13.2 Million ounces, or 20.5 to 22.6 Million silver equivalent ounces primarily due to the addition of the San Dimas Silver/Gold mine which was acquired on May 10th, 2018. This compares to the previous annual production guidance of 10.6 to 11.8 Million ounces of silver, or 15.7 to 17.5 Million silver equivalent ounces. "During the quarter, the integration of the newly acquired San Dimas mine into our Mexican portfolio was our primary focus," said Keith Neumeyer, President & Chief Executive Officer. "The world-class San Dimas operation, which contributed only seven weeks of production in the second quarter, propelled the Company to a new quarterly production record of 5.1 Million silver equivalent ounces and has become our cornerstone asset and will remain a major focus for the next several quarters as we optimize the operation."

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